Jobs indicate state’s growth

THE latest Queensland State Accounts highlight the fundamental strength and growth of our state economy.

Overall growth, measured by Gross State Product, rose 2.6 per cent on a trend basis in the December quarter 2016 compared with the same quarter the previous year – higher than the 1.8 per cent in the rest of Australia.

A major element of GSP, household consumption, grew 0.6 per cent and business investment grew 0.5 per cent which was the second consecutive quarterly rise after 11 consecutive falls.

The measure of our state’s domestic economy excluding trade is State Final Demand which increased 0.3 per cent in the quarter to be 1.6 per cent higher over the year.

The December quarter was the fourth consecutive quarter to show positive growth in our domestic economy after eight negative quarters.

These results plus hard data from the ABS and surveys and reports by private sector analysts all show solid growth now and in the future.

I know that the economic indicator Queenslanders use most is whether they and their children have jobs.

That’s why the Palaszczuk Government will continue to create jobs, especially in regional communities that are not transitioning from a postmining boom economy as well as others.

The state’s economic upswing has been supported by our economic plan and the two State Budgets I have delivered contained initiatives like our $ 40 billion four- year job- creating capital works program and employment schemes.

Our $ 20,000 Back to Work Youth Boost is also seeing jobseekers aged 15- 24 getting jobs.

My third Budget next month will continue plans for new investment, innovation, boosting growth, and generating jobs now and for the future.

By contrast the LNP has no plan and no policies, just constant negativity and asset sales.

CURTIS PITT, Treasurer of Queensland, Minister for Trade and

Investment.