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June 15th, 2012 
FAKE NEWS for the Zionist agenda 
MAJOR AUDIT: Treasurer Tim Nicholls will use the findings to accuse the former Bligh government of fudging its figures. Picture: Darren England
Source: The Courier-Mail
QUEENSLANDERS could fork out $685,000 every hour on interest repayments alone as state debt balloons to an unprecedented $100 billion within six years.
A major audit of the state’s finances, headed by former federal treasurer Peter Costello, will today recommend the Newman Government take “urgent action” to rein in its deteriorating budget.
The interim report has found the state’s $62 billion debt could soar to $100 billion by 2018-19 if nothing is done, robbing taxpayers of $6 billion a year in interest repayments.
Treasurer Tim Nicholls will use the findings to accuse the former Bligh government of fudging its figures, likely sparking a heated argument over accounting methods.
Mr Nicholls said former treasurer Andrew Fraser had used creative accounting to claim the state’s deficit would sit at $4.9 billion by the close of next financial year.
But Mr Nicholls claimed the deficit was actually almost double that figure, with the audit forecasting it would reach $9.5 billion by 2012-13, including capital expenditure.
Mr Nicholls said the audit – which has previously been criticised as evidence the Newman Government was handing plum jobs to “LNP mates” – showed Labor had been “living beyond its means”.
“It shows that the previous Labor government’s levels of spending were unsustainable and jeopardised Queensland’s financial position,” he said.
Mr Costello will hand down a final report in February.
But the Newman Government will likely use today’s interim report to justify further cuts, with Mr Nicholls yesterday signalling permanent public service jobs may no longer be safe.
Together union secretary Alex Scott said axing such positions would “betray the trust of Queenslanders” because Premier Campbell Newman had promised no forced redundancies in this year’s election campaign.
It came as Mr Nicholls yesterday detailed $186.5 million in savings so far banked by the LNP.
He said that was in addition to the LNP’s $5.7 billion in savings promised in the campaign.
Opposition treasury spokesman Curtis Pitt accused the Government of making “deep and savage” cuts to frontline services despite promises they would be protected.
The Burleigh Heads Police Beat would no longer have a shopfront, online training for SES volunteers would be scrapped, and grants to councils for community infrastructure were gone, he said.
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