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Australia politics live: NSW to lower road toll cap and Queensland to promise infrastructure in today’s state budgets
Key takeaways
- “Our first budget laid the foundation for a fresh start, and tomorrow’s budget will strengthen them because we need to build Queensland’s future,” Janetzki said yesterday.
- One reason for fiscal caution: the state government’s finances have been teetering on the edge of a credit rating downgrade for more than a year.
- Ratings agency S&P Global last October forecast the state will owe 150% of its revenue by 2028, up from 100% in 2023, due to a historically large infrastructure spend, partly thanks to the 2032 Olympics.
Why this matters: a developing story that could shape the day's news cycle.
Janetzki said on Monday that he had budgeted “a record” $119.2 billion for infrastructure over the next four years, including $55.9 billion for roads and transport upgrades - while announcing a bus would replace a light rail project on the Gold Coast planned under Labor.
“Our first budget laid the foundation for a fresh start, and tomorrow’s budget will strengthen them because we need to build Queensland’s future,” Janetzki said yesterday.
One reason for fiscal caution: the state government’s finances have been teetering on the edge of a credit rating downgrade for more than a year.
Article preview — originally published by The Guardian. Full story at the source.
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