According to news reports, due to a massive boost in coal cash this year, Queensland will likely use plow money into manufacturing jobs.
The QLD government is also announcing a two-year program to shield manufacturing jobs with grants ranging from $50,000 to $2.5 million – at a total cost $20 million over two years.
The government’s halfway-mark budget or mid-year Fiscal and Economic Review also unveiled a $2 billion surplus forecast for the 2016-17 financial year, thanks once again to coal royalties almost doubling this year.
The LNP Opposition has taken aim at the government’s spending plans, saying it that it should be focusing on debt reduction.
Opposition Leader Tim Nicholls said: “It’s simply not good enough for Curtis Pitt to keep spinning the roulette wheel and relying on coal royalties turning up black and giving him money,” Nicholls said.
However, a spokesperson for the QLD government said the state could afford to spend $1 billion on boosting jobs while at the same time keeping pace on reducing debt.