As we embrace our lovely Autumn sunshine welcoming visitors for the school holidays, it is time to look forward to the year ahead post covid restrictions to our economic recovery.
Central to the economic outlook for the years ahead is the upcoming Federal Election on May 21st. The Morrison Government is tipped to have a mighty struggle to be returned on the back of community concerns about bushfires, floods and covid response. However, as much of these afflictions are mainly in the domain of State Government response, it seems grossly unfair to lay the blame for any mishandling at the feet of the Morrison Government.
The Federal Government did stump up for a huge financial contribution to keep business afloat and to keep people in their jobs throughout the trying covid period. Morrison needs to be congratulated for keeping unemployment down to 4% for the covid pandemic period. In the old days economists classed 4% as full employment given that 4% of our population don’t want to work at all.
The real question for the election on May 21st is who do you want to be in charge of the Treasury cheque book for the next 3 years given the challenging times ahead for a world with the greatest level of debt ever, major global war outbreaks and inflationary pressures baring its teeth on a world used to minimal interest rate costs.
With fuel prices soaring, food prices soaring and construction material costs soaring, there is absolutely no doubt that inflation will jump over the next quarter and beyond, resulting in a lift by the banks of interest rates. By how much and how much effect that will have on the economy is the burning question.
So it comes down to a double “0” choice between the devil you know in ScoMo or the devil you don’t trust in AlbO as minor parties will not be in charge of the Treasury. It might make some people feel good by not voting for the major parties but in the end it’s all about the future for Australia and I am hoping for the sake of the Australian economy that the Morrison Government is returned.
On a local note, the Labor Government has finally signed off on the contract with Holland Constructions for the completion of Light Rail Stage 3A from Broadbeach to Burleigh by the year 2025. It is a $500 million blowout on the initial total cost estimate of $700 million but that is typical of this State Labor Government! Capitulation to exaggerated Union wage demands for all State Government infrastructure projects. The amount of money they waste on State Government projects such as the Cross-River Rail in Brisbane is absolutely eye-watering as debt and profligate spending are in their DNA. Hopefully we will not have to suffer the same approach to wilful spending at the Federal level as well after May 21.
Should you have any State issues you would like to discuss please feel free to contact my office on:
Tel: 5600 0100 / Email: Mermaid.Beach@parliament.qld.gov.au
You can also find me on Facebook at www.facebook.com/RayStevensMP.
Ray Stevens MP
State Member for Mermaid Beach