News

Economic Update by Shadow Treasurer Tim Nicholls MP

This week LNP Leader Campbell Newman unveiled the LNP’s plan to get education back on track in Queensland.  Campbell announced that an LNP Government will allow around 120 State schools to choose to become Independent Public Schools over the next four years, with 30 State schools transitioning each year. Independent Public Schools will allow schools to make decisions about matters that impact on their school performance and community, such as staff recruitment, financial management, governance and accountability. 

This initiative is also federally supported. Prime Minister Julia Gillard has stated she is very supportive of the Independent Public Schools in WA and said that “It's part of the future for schools, empowering school principals” 9 August 2010, Sydney Morning Herald.  

Transition to become an Independent Public School will be voluntary and schools that choose to do so will represent a balanced cross section of the entire state of Queensland. For more information on this exciting initiative please visit www.candoqld.com.au  

The LNP is committed to revitalising our front line services and getting the basics right for our children’s education.

_______________________________________________________________________________ ·RBA Cash Rate ↔ unchanged at 4.5% (November 2011)

·RBA Indicator Home Loan Rate   ↔   unchanged at 7.80%      (October 2011) 

·CPI     Brisbane ↑0.3%;                All capitals ↑0.6% (Sep qtr 2011)                        ·Unemployment figures (October 2011)
Qld ↑ at 5.8%;                   Aust ↑ at 5.3% (Trend)Qld ↑ at 5.7%;                   Aust ↔ at 5.2% (Seasonally Adjusted)�

œ   Running Total of Interest paid on Net Debt- 2011-2012 Financial Year

State $712.9 million,National $2.34 billion($157.85 p/p and $578.02 p/family)  ($105.01 p/p and $449.54 p/family) Year to date, in the 2011/2012 financial year Queenslanders paid interest on State and Federal debt of $262.86 per person or $1027.56 per family.  

· QLD Employment Share by selected Industry Sectors (August 2011)  

 · Monthly Retail Trade (September 2011) Qld ↑0.24%;    Aust ↑ 0.31% (Trend)

 · New Capital Expenditure for the Private sector 

Total National private new capital expenditure increased by 30.43% for the year from September 2010 to September 2011. Over the twelve months, expenditure on equipment, plant and machinery increased by 17.46%, while expenditure on buildings and structures increased 41.28%. 

Comparing the September quarter 2010 with the September quarter 2011, Queensland's total private new capital expenditure increased by 65.61%. Over the same period, expenditure on equipment, plant and machinery increased by 29.82% and expenditure on buildings and structures increased by 98.73%. 

·How far short we are of Anna Bligh's 100 000 jobs promise. ("100 000 jobs for 100 000 breadwinners.") 48,500 (October 2011) 

·Dwelling  Approvals (Trend)

Qld ↓ 5.1%;  Aust ↓ 2.7 % (monthly, October 2011)

·Housing Finance Approvals (September 2011) Qld ↑ 0.7%;   Aust ↑ 0.8%         (Trend)

·ANZ Job Ads (National & Trend)
↓ 0.7% to a weekly average of 181, 005 (October 2011)�

œWestpac Confidence Indicator

The Westpac–Melbourne Institute Consumer Sentiment Index: ↑ 6.3% to 103.4 (monthly, November 2011) �

œEconomic Growth (Trend)Qld ↓ 0.1%(June qtr); Aust ↑ 0.2%(June qtr)  

·Petrol Prices

Crude: the weekly average price for Tapis crude oil fell last week by 0.4 cents to 73.4 cents per litre. (w/e 27/11/11)

Wholesale: the national weekly average wholesale (TGP) petrol price fell last week by 1.6 cents to 129.6 cents per litre. (w/e 27/11/11)

Retail Unleaded:  the national weekly average retail petrol price fell last week by 1.5 cents to 141.5 cents per litre. (w/e 27/11/11)_________________________________________________________________________________News this week

Robertson finally wakes up to high power bills 

Bligh Minister Stephen Robertson finally stirred from his retirement slumber to join the power bill debate. 

While Mr Robertson has been distracted planning his retirement, the LNP was working hard to provide long term sustainable price relief for Queenslanders by introducing a policy to cut the cost of electricity for hurting households.  

Queenslanders aren’t going to be fooled by Labor spin again.   For the past five years the Bligh government has punished households with a whopping $700 increase to their power bills. 

No one trusts the Bligh Government with electricity bills. 

What’s worse, Labor is so hell bent on making the pain worse for taxpayers, they’re cheering on another increase to electricity bills through the anti-Queensland carbon tax. 

In contrast - the LNP is committed to saving households $120 a year on their power bills. 

We will abolish Labor’s peaking power prices, and ease the pain with a pricing method that is fair and reasonable. 

The CanDo team is committed to freezing the standard domestic tariff – Tariff 11 – while allowing the fixed charge to rise in accordance with the QCA recommendation. 

Queenslanders are fed up struggling with Bligh government cost of living increases.   

That’s why the LNP is committed to saving average household budgets from $250 to $330 per year through reforms to electricity and water pricing, and freezing family car rego. 

An LNP government will also scrap Labor’s $7000 stamp duty slug on the family home, rescind the Bligh government’s waste tax, and introduce a four point water plan to control the cost of water for households.  

Anna Bligh promised ‘no one would be worse off’ after Labor’s electricity changes.  But, breaking promises is standard practice for this devious government. 

Anna Bligh and Labor don’t deserve another go. Not this time. 

New home approvals stuck at decade low under Labor 

Housing construction workers are still out of work as the latest ABS building approval figures slumped to a 10-year low in Queensland. 

New home approvals had fallen for the 21^st month in a row to just 1,229 in October 2011, a sign that the housing construction industry had been taken for granted by Labor and is now on its knees. 

The latest ABS building approval figures for new homes is not good news for the housing construction industry. 

Under Labor, Queensland has the highest unemployment rate in Australia of 5.8% and their bungled building boost grant has so far failed to turn that around. 

The last time things were this bad for the housing construction industry was February 2001. 

Any upswing in building approvals would come as a result of the Reserve Bank of Australia’s decision to cut rates last month. 

The housing construction industry is telling me we may not have reached rock bottom yet. 

Labor’s decision to remove the stamp duty concession on the family home has gutted part of the housing market. 

The CanDo LNP team believes construction is a vital part of our plan to grow a four pillar economy in Queensland. 

The LNP has already committed to reintroducing the $7000 stamp duty concession for the principal place of residence in Queensland. 

Queenslanders can have confidence that the LNP has a clear and practical vision to grow a four pillar economy based on construction, agriculture, mining and tourism, unlike Labor which is placing all its eggs in the resources basket. 

Only a CanDo LNP Government will get Queensland’s construction industry back on track.