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Managing economy priority over debt: Pitt

Queensland Treasurer Curtis Pitt says managing the economy well doesn't mean paying down debt in the short term, with the issue in the election spotlight.

(AAP Image/Dan Peled) NO ARCHIVING
Queensland Treasurer Curtis Pitt admits state debt is forecast to go up in the next three years. (AAP)

Queensland Treasurer Curtis Pitt says state debt will hit $81 billion over the next term of government, but insists it's not a problem for the state's economy.

It comes as a poll of six marginal electorates ahead of the November 25 Election Day finds voters believe the Liberal National Party are better economic managers than Labor.

Mr Pit joined Premier Annastacia Palaszczuk on the campaign hustings in Cairns and, in response to media questions, admitted debt was forecast to go up in the next three years.

But he insisted the solution was to maintain a good debt-to-revenue ratio, and growing the economy would help to ease the billion-dollar burden.

"There is no case in Queensland where you will ever see zero debt, let's be clear about that," Mr Pitt told reporters.

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"We have to make sure that we manage it, and make sure that we don't sacrifice the economy in the process, and that is exactly what (opposition leader) Tim Nicholls did when he was treasurer."

Mr Nicholls has faced criticism for failing to explain how he will fund the LNP's election promises while also reducing the amount of money the state owes.

Mr Pitt said the LNP were relying on a "just trust us" message that wouldn't wash with voters, but denied he was taking a similar approach.

A Newspoll conducted for the Australian last week showed a majority of voters in the marginal seats backed the conservative party as the better economic manager.

Mr Pitt said that didn't mean he was failing to sell his government's economic measures, just that "people have a view" about Labor governments.

The premier backed her treasurer's performance, saying he had managed to reduce debt from where it had been under the previous Newman Government.

"In general government debt it was around $12 billion (paid down) and in total debt it was $5 billion," she told reporters.

Meanwhile, Mr Pitt said he and his fellow cabinet colleagues backed the premier's stance of taking Labor into opposition rather than forming government with one of the minor parties if the election results in another hung parliament.

"The premier has had conversations with all her cabinet colleagues and it is important to note this is something we stand on our principles on," he said.

"We don't share the values of One Nation, we don't agree with the approaches the LNP take, and when you put those two together in some sort of Frankenstein marriage, it's only going to spell disaster."


3 min read

Published

Source: AAP



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