Business investment in Queensland drops 20 percent
BUSINESS investment in Queensland was down 20 per cent in 2014-15, with a further drop of 13.25 per cent predicted for 2015-16.
At a glance, the figures outlined in Treasurer Curtis Pitt's first Queensland budget could appear somewhat alarming, but it was at pains to point out the downturn was normal and expected.
"As construction of the three large LNG projects winds down, business investment in Queensland has fallen from the historically high levels of the past few years," the 2015-16 budget paper two notes.
"With combined capital expenditure exceeding $60 billion, the unprecedented scale of these projects means that a substantial fall in investment has been anticipated for some time, regardless of the pipeline of projects to follow."
And the budget pointed to more pain to come.