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The Forum > Article Comments > Queenslanders need to start paying off their debts > Comments

Queenslanders need to start paying off their debts : Comments

By Tony Makin, published 23/11/2017

The third largest state economy after NSW and Victoria, Queensland has the highest public debt in the commonwealth.

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Nah not really, if any side doesn't care about debt, none of the sides should care. If would be really unfair to think about it in any other way, especially to for the working families.
Posted by progressive pat, Thursday, 23 November 2017 8:42:41 AM
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If cutting the debt is the objective then yes, there are really only three options: spend less, tax more or sell assets. And as SA found out, the third is likely to be a false economy.

But if the real objective is to put Queensland on a sustainable financial footing, there's a fourth option: grow the economy. That way tax revenue will rise even if tax rates stay the same.

With interest rates at record lows, now's the time to be investing in future growth, not paying down debt.

And if you disagree then ask yourself this: how much lower would interest rates have to go before debt reduction ceases to be the best option?
Posted by Aidan, Thursday, 23 November 2017 9:22:36 AM
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Privatisation eh? That dumb ass ideological imperative again! As we found out with all the other privatisation of assets, the taxpayer bought and paid for, with blood sweat and sacrifice!

The income they used to earn for consolidated revenue, now needs to come from elsewhere!

Like the current Federal government, borrowing to pay for a welfare budget that, assets now privatised, [in a penny wise pound foolish, (economic illiterate) paradigm,] used to all but pay for!

We do have another choice and one any competent financial manager would opt for as a first option! Grow the economic pie!

And doable if we're prepared to swim against the tide of ideologically initiated idiotic opinion! And just borrow to build stuff that earns a quid!

Like, walk away safe, molten salt thorium reactors that produce a projected median of 1.98 cents PKH, and sell it to southern states for 12 cents PKH. and 9 cents profit for every KH! 1 cent's worth lost to transmission line losses

Multiply that by 6-7 million peak hour premises and by around 12 hours a day. And the debt and deficit problem alluded to, just disappears in flood tide of southern sourced revenue!

As ageing coal fired power stations are decommissioned and just not replaced, given there's no renewable able to compete with 12 cents, (carbon free) PKH!

Further, could be used to power the currently mothballed nickle refinery which could be upgraded to also refine cobalt to put an additional option on the table; for what could be a resumed cooperative enterprise!

Besides, we're on the hook for more money than what the current aged refinery is really worth!

Moreover, there are other minerals that need to be refined, needing only affordable power! All that prevents them being refined right here and one of them is locally mined lithium!

Which would beg a car builder to come and build right hand drive electric vehicles here. And only the start of what's possible if we but start thinking outside, the locked and bolted box! That's the public servant mindset.
Alan B.
Posted by Alan B., Thursday, 23 November 2017 10:57:41 AM
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Don't you love it....the educated accuse the educated of ineptitude!
Posted by diver dan, Thursday, 23 November 2017 11:03:23 AM
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I have to agree with you Aiden, however, given the track record of reckless worthless projects, the very thought scares me.

You see everyone in government these days hide behind consultants and, given they, along with gov ministers are unaccountable, we might as well piss into a fan.

I'm afraid that unless we get a dictatorship to seer the ship we simply don't stand a chance.

Too many incompetents, too many hangeroneres, and too many welcome matts for others, many of whom have little to nothing to offer as they simply come for the spoils.

The do-gooders have too much say now. Let's enjoy the spoils of mining, but let's stop it as well. Go figure.

My tip, super will be on the hit list, along with the value of the family home for retirees. Let's face it, what else is left to prostitute!
Posted by rehctub, Thursday, 23 November 2017 1:52:27 PM
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So much to say Diver and so intelligent! Can hardly wait for your next pearl of wisdom! As indeed the whole nation waiting with bated breath, for your next priceless utterance!
Alan B.
Posted by Alan B., Thursday, 23 November 2017 4:51:58 PM
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"The income they used to earn for consolidated revenue, now needs to come from elsewhere!"

I agree.
And I also think if a government can't prove itself capable of running a business, then by default it does not possess the skills for the business of running the state.
Posted by Armchair Critic, Saturday, 25 November 2017 8:07:03 PM
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