Clock 'gives context to debt'

THE Chamber of Commerce and Industry Queensland has today launched The Big 3 For Business Clock, which it says gives context to the numbers being talked about by all parties in the lead up to the state election.

With the issues of business tax, red tape and state goverment debt dominating the election coverage, CCIQ says the Big 3 For Business Clock counts the incremental growth in all three and presents some interesting figures.

The clock shows Queensland Government's debt growing at $17,365 per minute, payroll tax recipts at $6,626 per minute and red tape costs to businesses at $13,680 a minute.

CCIQ President David Goodwin said The Big 3 For Business Clock is a simple way of highlighting many of the financial issues that sit at the heart of Big 3 For Business and that, when quantified, the sheer scale of the challenge can be seen.

"A situation where state debt is growing by over $17,000 per minute, business is being taxed over $6,000 per minute to employ Queenslanders and red tape is costing business $13,000 per minute is clearly untenable," Mr Goodwin said.

"It is essential that the 'Big 3 For Business' is addressed by the next State Government and the numbers being highlighted by the clock are addressed quickly, effectively and fairly to ensure that Queensland ends up with a balanced budget that provides our state with the optimum fiscal conditions for sustained economic development and growth."

"Whilst we appreciate the next State Government will find it challenging, like businesses and households, to manage its budget effectively, it is crucial that the fiscal disciplines applied by the general public and business community are brought to bear by the government and bureaucracy."

The clock can be viewed here.

Further information can be found on the Big 3 For Business website.



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