State MP Fiona Simpson has urged an “infrastructure guarantee” for the Sunshine Coast as part of the deal if assets are sold off to pay down Queensland’s crippling debt levels.
Ms Simpson said debt deniers couldn’t wish away the impact of the unprecedented debt levels which led to the stripping of the State’s AAA credit rating and loaded millions of extra dollars in costs in additional interest payments.
“The credit card is maxed with excessive inherited debt and economic growth alone won’t pay it off. Interest bills are $450,000 an hour and Queensland debt per capita is double the average debt of other states.
“However, if some assets are sold those proceeds need to be invested back – with the capital freed up by lower interest rates going to critical, properly planned infrastructure,” Ms Simpson said.
She said she would like to see a Sunshine Coast infrastructure guarantee with the rail duplication at the top of the list for well costed and needed regional infrastructure.
She stressed that the infrastructure had to be properly costed and necessary to economic growth. She has consistently been critical of the previous government’s wasteful spending of more than $400million on the Sunshine Coast on a white elephant pipeline to Traveston Dam which robbed funding from other necessary infrastructure projects.
Ms Simpson said the current discussion was needed about possible asset sales to repair Queensland’s damaged balance sheet but she believed it had to be tied to an infrastructure guarantee which delivered the benefits which the debt levels were currently robbing.