The Queensland Premier has announced a $40-million business development fund to kick-start the economy.

It was unveiled as Anastacia Palaszczuk delivered her first State of the State address.

Gizelle Ghidella reports.

TRANSCRIPT

Annastacia Palaszczuk faced the state’s movers and shakers at a business lunch for her State of the State address.

And she outlined a financial injection for business and industry.

Annastacia Palaszczuk, Qld Premier: “The fund is an essential part of the $180 million Advance Queensland policy initiative. This is a $40 million Fund that will help kickstart Queensland’s next wave of start-ups.”

She said it was designed to attract investment and create jobs with new companies.

Annastacia Palaszczuk, Qld Premier: “However, I want to reassure those working the land and mining our rich resources, your efforts today are as important as they’ve ever been.”

The premier hopes it will give business new confidence.

Annastacia Palaszczuk, Qld Premier: “For good ideas a minimum of $250,000 is now on the table, half from the state, half from co-investors. The State will invest up to a maximum of $2.5 million if the business is the right idea.”

Annastacia Palasczcuk has been under pressure over her government’s relationship with controversial MP Billy Gordon, and the latest poll shows Labor is lagging behind the LNP.

But today it was all about the economy.

Queensland Opposition leader, Lawrence Springborg says Labor is “reviewing rather than doing” and that is causing Queensland to go backwards.

But the Premier is confident she’s on the right track.

Gizelle Ghidella, QUT News.