Queensland pledges $55.9B transport spend despite credit rating downgrade
Despite a credit rating cut by S&P Global, Queensland's government will spend $55.9 billion on transport over three years.
Queensland's credit rating was cut by S&P Global last week. Transport minister Brent Mickelberg said the government would not slow its promised infrastructure work.
The state plans to spend $55.9 billion on transport projects over three years. Some projects like Cross River Rail are already far behind schedule.
They are also way over budget. Treasurer David Janetzki said the government would not raise taxes.
It would not cut services to satisfy credit agencies. The commitment comes amid debate over federal migration cuts.
Queensland officials say these cuts could limit skilled workers needed for construction.
- $55.9 billion
- Transport spending pledge
- Three years
- Spending timeframe
- 130,000 migrants per year
- One Nation migration plan
- S&P Global
- Credit rating agency
Why it mattersIt shows Queensland is set on pursuing infrastructure spending despite tighter finances. This has real consequences for project delivery. It also affects public spending priorities.
AustraliaAffects Queensland residents through transport projects and the state's debt levels, with potential impacts on job availability if migration is restricted.
Corroborated bytheage.com.au·watoday.com.au
✓ Claims checked against the source. checked 10 d ago
