Queensland’s Infrastructure Spending to Drive Debt to $188 Billion by 2027, Treasurer Confirms

Published on April 18, 2024

Queensland will be $188 billion (US$121 billion) in debt by 2027, Treasurer Cameron Dick has confirmed, blaming it on a reduction in royalties from coal and a decrease in Queensland’s share of GST. This debt figure surpasses even that of Victoria, which faced severe criticism for its substantial debt burden. Victorian debt is expected to reach $177.8 billion in 2027. New Treasury forecasts in the lead-up to the June state budget show the Queensland government’s borrowing is set to double to $128 billion between now and 2027/28, as net debt quintuples to $73 billion. Total debt—which includes government-owned corporations—will rise to $188 billion, up from the current $109.8 billion....

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