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QLD on track to regain top credit rating

RATINGS agency S&P Global has reaffirmed Queensland's AA+ credit rating with a report pointing to strong financial management and budgetary performance across the state. 

The State Labor Government has been quick to seize on the report with Treasurer Curtis Pitt saying it was evidence his party was doing a better job than the LNP. 

"It shows yet again that under the Palaszczuk Government our state economy has turned the corner after the LNP's disastrous performance," Mr Pitt said. 

"However, we still recognise not all sectors or regions are making the transition to a post-mining boom economy as well as others and we will continue with our financially responsible efforts to stimulate growth and jobs across our state. 

"The report shows this government is rebuilding our economy and confidence in its future after the damage done by Tim Nicholls as Treasurer in the Newman Government. 

"But no doubt the LNP will find something negative to say about it as part of their scare campaign to sell their secret asset sales plan." 

Queensland lost its AAA - top grade - credit rating under the Bligh Labor Government in 2009 and LNP Shadow Treasurer Scott Emerson told the ABC the positive rating was simply smoke and mirrors. 

"Labor has raided some hollow logs, but it is only short-term action," Mr Emerson said.

"Queenslanders expect this Government to be making things better rather than celebrating the fact that it hasn't got worse."

Topics:  credit rating editors picks queensland


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