Region finally has fair share

THE State Government has listened to Townsville’s call for a fairer share of spending with the Budget allocating a funding percentage only ever seen in election years, according to a local economist.

In a detailed assessment of the State Budget, economist Colin Dwyer said the government had allocated 7.4 per cent of state public investment to the region which has about 4.7 per cent of the state’s population.

“This year, 2018/ 2019, Townsville region will receive 7.4 per cent of state public investment which is an amount of investment only usually seen in election years,” he said.

“Total capital expenditure in the state is expected to be $ 9.9 billion and Townsville region expects to receive over $ 736 million.”

Statistics compiled by Mr Dwyer show that the Townsville region received $ 586,216 million in 2017/ 2018 state public investment. In 2017- 18, the state total public investment was $ 8.6 billion. Townsville’s share was 6.8 per cent.

“The capital contingency proportion last year was 1.47 per cent,” he said. “It’s around double this year.”

Mr Dwyer said it appeared Brisbane was listening to the needs of the Townsville region.

“Credit where credit is due,” he said. “This year’s State Budget is a very positive outcome for Townsville region and credit needs to be given to the Brisbane government.

“But it’s a little late to be spending after the economic depression has bitten. This is catch- up economics. Regions never reach their full potential this way. If we had a NQ economic research centre we could provide better information for improved public investment decisions.”

Mr Dwyer said there were portfolios which fared better than others in the Budget.

The portfolios Townsville region does well in include transport and main roads ( 6.4 per cent), state development, manufacturing and infrastructure planning ( 59.5 per cent), natural resource, mines and energy ( 7.9 per cent), housing and public works ( 7.8 per cent) and employment, small business and training ( 47 per cent).

Queensland Resources Council chief executive Ian Macfarlane said key State Budget infrastructure and services in Townsville region are being funded by $ 4.4 billion injection of royalty payments by Queensland’s mining.

Mr Macfarlane said it was important to recognise the contribution the resources sector was making to the Government’s commitment to infrastructure and services.