RE your editorial "Will we ever see big projects again" (RCB July 9): There are several points of contention I wish to challenge.
This government is a big thinking government. People can already see this with the establishment and implementation of the Queensland Plan.
This 30-year vision was the largest consultation process in Australian history. It's a plan that looks beyond a three-year election cycle and gives voice to people right across the state from every walk of life. The Queensland Plan is already informing policy on education, the environment, health, future regional growth and development.
Additionally, the claim was made that somehow the government's commitment to lower debt and regaining our AAA credit rating is just some sort of ideological fancy. The reason this government has been hamstrung in its spending is precisely because of the previous government's mal administration of the economy. This government, however, has a plan to tackle Queensland's debt.
With interest on borrowings now being the fastest growing component of the state's budget, more borrowing is not just bad management, it's simply immoral. The state debt is just over $80 billion, which equates to every man, woman and child in this state owing more than $16,000 in government debt a debt that is accruing interest and a debt that needs to be paid.
The interest on this debt alone without paying down principle is more than $450,000 per hour. That's $11 million per day or a grand total of more than $4 billion a year.
Imagine the big projects the government could fund without the burden of the debt legacy hurting our spending capacity.
In Redlands alone, just one year's interest would build the whole eastern busway, build the dual carriageways on both Mt Cotton Road and Rickett Road with the remainder going some way in duplicating the Cleveland rail line.
Taxpayers should not be expected to somehow come up with the cash to spend on big projects simply because of poor financial management of past governments. I believe that taxpayers are paying their fair share already and whacking on more taxes to fund projects is simply lazy government.
Governments, like households, need to live within their means because ultimately the money they have to spend doesn't just magically appear.
Despite this, the government has consulted with the public to establish the Strong Choices plan. This plan has two aspects that will contribute to big projects being bought to life. By selling and leasing some assets, the government proposes to use 75 per cent of the proceeds, or $25 billion, for debt reduction, saving more than $1.3 billion in interest per year. This money can be reinvested year after year in schools hospitals and funding for big projects. The remaining 25 per cent, or $8.6 billion, raised will be used to create the Strong Choices Investment Program that will be investing in just the sort of big projects you advocate for.
As a government, we do have a plan to get the big projects done. The budget the current government inherited is not one we would have wished for. I would have loved to come into government with money in the bank and large budget surpluses, but unfortunately that wasn't the legacy we were left.
Our job as a government, and my job as the Member for Capalaba, is to get this state back in the black, living within its means and getting the big projects we all want and need happening.
Steve Davies, MP for Capalaba
