Queensland forecasts growth for 2015

Queensland forecasts growth for 2015Following the announcement of its F2015 budget, the Queensland Government is focused on its Strong Investment Choices Program, as well as returning the budget to a surplus by F2016.The Strong Investment Choices Program aims to secure a strong future for Queensland’s economy and will include $0 million towards the Local Government Co-Investment Fund, an essential part of the Government’s plans to review its infrastructure charges. The Government will invite members of the local community to provide feedback on the program over the next few months.Among its key forecasts, the budget predicts 3 per cent economic growth for 2015, an upturn in the housing market, growth in household consumption and an increase in net exports. The property industry can rest assured there will be no new taxes or increased fees. Importantly, the $15,000 Great Start Grant”a Queensland Government initiative to help first home-owners to get their first property”will continue.Local infrastructure projects currently in the pipeline that will go ahead, dependent on the divestment of assets in the state, include $1 billion for a new bus and train tunnel in Brisbane and $700 million for rural and regional economic developments.The Queensland Government expects to release its final plan in September 2014. This will be taken to the next election in 2015 at which time the Government will hope to win a mandate from the community.