LNP payroll tax promise

PAYROLL tax thresholds will be raised each year for a decade to encourage small and medium businesses to start hiring, as part of an LNP bid to create 500,000 jobs.

In the first big policy pitch of the campaign, Opposition Leader Tim Nicholls promised to increase the payroll tax threshold by $25,000 a year for 10 years to $1.35 million.

It is part of the LNP’s economic plan, released yesterday while he campaigned in the marginal Labor seat of Springwood.

But to create 500,000 jobs over 10 years, Mr Nicholls said about 400,000 of those would come from normal projected growth figures. It works out at 10,000 jobs a year on top of the existing growth rate.

Mr Nicholls said his target would be reasonably supported by the existing growth and bring Queensland in line with NSW and Victoria.