Queensland is projected to have three record budget deficits from 2025–26 onwards which would each be the largest on record, surpassing the $5.7bn deficit recorded in 2019–20 at the onset of the Covid-19 pandemic.

Queensland Treasurer David Janetzki told Bill McDonald on 4BC Mornings, “I’m taking ratings agencies seriously.”

“I’m talking to them and they’re noting what we’re trying to do.”

“We’ve got to be prepared, it’s highly likely we’ll get a rating downgrade.”

“So, when we go and borrow money, if our credit rating is worse, it costs more,” the Treasurer said.

Hear more highlights from Bill McDonald below:

Image: David Janetzki MP/Facebook

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