Queensland has a 10 speed economy, says State Treasurer Andrew Fraser.

Speaking at an economic development forum, Mr Fraser says the state has suffered through the GFC and recent natural disasters, and is heading into a golden era.

Ellen-Maree Elliot reports

TRANSCRIPT

Queensland’s Treasurer stressed his next budget would be heavily burdened by the recent natural disasters here, and in Japan.

Andrew Fraser, Queensland Treasurer: “This is not the budget I hoped to deliver.”

He says it would have a dual focus, recovery from the floods and managing the coming resource-driven boom.

But the leader of the opposition says this government is out of chances.

Campbell Newman, LNP Leader: “Our economy is in the doldrums. It really is. I mean, we’re in a very bad place at the moment.”

And he says it’s not because of the GFC or the floods.

Campbell Newman, LNP Leader: “All those excuses. It’s because of the current people running our state. It’s their fault.”

Mr Newman says he plans to invest in regional areas and rural industries, making Queensland the number one state.

Andrew Fraser says he’s the best person to do that and is is optimistic about Queensland’s economic future.

Andrew Fraser, Queensland Treasurer: “I, in fact, think that the next decade’s going to be a golden era of prosperity for the nation as a whole but principally driven by Western Australia and Queensland.”

Australia’s economic future is in energy and mineral exports, with ample supplies of coal, uranium and aluminium, just to name a few, Queensland has a strong capacity to recover from this economic slump.

Economists are confident of a strong rebound.

Dr Michael Porter, Research and Policy Director CEDA: “Queensland will recover brilliantly, because Queenslanders are like that.”

The State Budget will be released next month.

Ellen-Maree Elliot, QUT News.