Friday 6 March 2009

You all owe $35,000 each

Astonishing as it may seem, the Labor Government took over a State with little debt.

The State Treasurer, Andrew Fraser, who doesn't even appear on Anna Bligh's electoral website, said, announced last week the downgraded Queensland's Credit Rating to AA+.

That means that we will have to find an extra $200 million a year interest.

This now takes our annual Interest bill to $3.16 billion for 2009-10 – about $800 for every man, woman and child – and another $300 million the following year. Said the Treasurer.

"Don't forget the real mathematics of [Treasurer] Andrew Fraser, Opposition leader Lawrence Springborg says.

"Queensland's debt has skyrocketed from $30.3 billion since his appointment last year to over $74 billion projected in 2011-12."

"Queensland's interest bill will be $5 billion which is about half the taxes collected last year. Does that mean that Mr Fraser plans to double taxes to pay that off?"

"This is not a time for scare tactics. The LNP plan is to cut waste, introduce efficiencies, and to make government jobs more secure - everything that Labor has failed to do."

Queenslanders are facing a 'financial cyclone' to quote Kevin Rudd.

The slick politician double-talk makes it sound palatable by saying that's $800 for every man woman and child in the State.

What he doesn't tell you is that there are only a third of us with the ability to pay the taxes and registrations etc. So it's more like $1,500 each every year. Then there is the debt itself. $74 Billion divided by those who will pay equals $35,000 each.

Add that to what you voluntarily owe and you can see that Anna Bligh and her entire Government must be given the heave ho before we all go as bankrupt as their ability to manage the economy.

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