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Queensland Economic Advocacy Solutions

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Queensland Votes - QEAS Pre-election Analysis

This Saturday, Queensland votes for the next State Government for the period through to Saturday 31 October 2020.  It is almost impossible to pick the outcome as there has never been a combination of a third party potentially on the rise, the reintroduction of compulsory preferential voting and four additional seats created through a significant shake up of electoral boundaries. 

Overview

Many voters expect a hung parliament but few want one, and neither of the major parties have been able to break free from the prospect of needing to form a minority government or having only the slimmest of majorities.  Voter sentiment appears to be just as influenced by the period 2012 - 2015 than the performance of the State Government over the past three years or what is on offer for the next three years. 

Bookies have Queensland Labor as slight favorites with the LNP as underdogs however in my view we should not waste too much time speculating on something that can only become clear once Queensland votes.

Elections are a competition of ideas and a wonderful opportunity to get a politician to commit to doing something useful.  This election has seen some very good policies placed on the table and it is important that Queensland businesses are able to compare and contrast what is on offer and without the spin.  

Policies

QEAS’s role is to provide information for you to make your own informed decision on who will be the best custodian of our economy.  Accordingly, QEAS has provided the below comparison table for you to click on summarising Queensland Labor and LNP policies on fiscal management, the economy and jobs, electricity prices, red tape, infrastructure and more.

I have been under some pressure to post the Greens, KAP and One Nation Policies.  If there is an indecisive result and either major party is unable to form a majority government then presumably we might see some minor party policies implemented.  A good example is the Greens are willing to provide support to a Government on the basis of solely one issue …… stopping the Adani project. However minor party economic policies have historically not been widely adopted. 

Ultimately it will depend upon how 'hard ball' parties want to play negotiations if a minority government needs to be formed. For the sake of being thorough their policies can be found through the following links:

One Nation
Katter's Australian Party
The Greens - Queensland

Closing thoughts


Immediately following a State Election, we get very polarised views by business on what the result means for the economy.  However in my 25 years’ experience, businesses soon come to the realisation that a change in the helm of a State Government does not necessitate a change in economic fortunes.

Why?  The reality is there are bigger things that influence economic growth and business conditions.  The big levers on the Queensland economy are population growth, interest rates, fuel prices, commodity prices, climatic conditions and the exchange rate.   These are fortunately well beyond the sphere of government control!

The State Election is important, it will influence business confidence and peripheral economic growth through infrastructure and the above policies.  However, the things that we do well, the things that are working in our favour, and the things that are not, will still be with us the day after the State Election. 

I will do a post election wrap on what it all means for you once the people of Queensland have made their choice.  This may well take considerable time to play out so be patient and be open to the possibility that politicians decide who will be the next State Government and not you the voter. 

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