pdn trading today?, page-30

akq, westsurf,NS,PB,Mission,shetold,Glenso etc etc

Expectations of an Up & Coming Queensland State deficit, could well give Miss Bligh a reason to back flip Queensland into Uranium Mining, prior to (My View) being thrown out of Government at the next State Election in late 2009 :)


Economic woes put $700m hole in budget: Fraser
Fri Nov 7, 2008

Queensland Treasurer Andrew Fraser says the economic downturn has left a $700 million hole in the budget.

Mr Fraser has told a business function in Brisbane that duty revenue will be revised down by 25 per cent in next month's budget review.

The Government is also expecting a $241 million cut in GST revenue from the Commonwealth.

He told the conference that the Government will do a better job of managing the budget than the Opposition would. "Do not doubt our determination to deliver a surplus this year," he said."Do not doubt the resolve of the Cabinet Budget Review Committee to take the tough decisions that changing global circumstances require."

He said earlier in the week the forecast $809 million surplus will be cut significantly, and he has not ruled out putting the budget into deficit in future.

Mr Fraser says the Government is determined to stay in surplus, but it faces tough decisions.

Meanwhile, the Queensland Opposition says an ambitious underground rail plan for Brisbane is likely to stay on the shelf because of the Federal Government's $40 billion budget downgrade.

Premier Anna Bligh says front line services will not be affected by shrinking state and federal surpluses, but there will be hard decisions to make about other spending. She will not say yet what might be cut, but Opposition treasury spokesperson Tim Nichols predicts the potentially federally-funded rail plan will be put on hold.

"Projects like the inner Brisbane rail - $14.2 billion that the Premier said is number one on the Government's list - are going to face a lot more difficulties," he said.

State Health Minister Stephen Robertson does not want the Commonwealth to use the downturn to cut health funding. "I would be disappointed that getting a fair deal from Canberra would be affected," he said.

The state's mid-year budget review will be out next month.

But Ms Bligh says she still expects Queensland to receive Federal Government funding for new infrastructure projects, despite the economic downturn.

"I still think there will be opportunities for some nation building projects," she said.

"I understand why the Federal Government in these very difficult times is going back to the drawing board and we'll be working with them ... none of our projects that we're currently committed to are dependent on federal funds."
.
.
Frasier has since come out this week, and has conceded Queensland will go into deficit over the next 2 years.
.
.