Labor's $9 billion budget blowout confirmed
- Another chapter in the story of Labor's reckless spending and fiscal vandalism.
- Labor overspent its budget by $9 billion in 2023-24.
- Tranche of $1.128 billion in unforeseen expenditure approved through Parliament today.
The Crisafulli Government has revealed more evidence of Labor's 10 years of fiscal vandalism with the confirmation of the former government's $9 billion overspend in 2023-24.
Today Parliament passed the Appropriation (Parliament) (Supplementary 2023-2024) Bill 2024, as required by legislation, which formally approved Labor's unforeseen expenditure from last financial year.
The total $9 billion overspend, including a $1.128 billion tranche confirmed in the bill, was Queensland's second-highest Budget blowout on record.
Labor's reckless budgetary management has left total government debt forecast to hit $218 billion by 2027-28.
Treasurer David Janetzki said the bill's passing was another sorry chapter of Labor's fiscal vandalism.
"As revealed in Labor's Last Budget Update, the former government had completely lost control of the budget," Treasurer Janetzki said.
"Outside of 2010-11, which was impacted by payments required to enact the Labor Government's asset sales program, this is the highest unforeseen expenditure on record.
"Labor's last budget update revealed the lies and deceit of Labor's hidden blowouts and unfunded essential services. This will be Labor's legacy."
Treasurer Janetzki said the Crisafulli Government had already taken steps to improve the budget position.
"We're committed to delivering improved productivity and performance and this week passed legislation to reestablish the Queensland Productivity Commission," he said.
"Shockingly, Labor voted against this bill, siding with CFMEU mates instead of supporting an independent body tasked with cutting red tape, recommending sensible reforms for the building and construction sector and encouraging innovation."
ENDS
