Local & Queensland Economy – Speech 3 November 2016
Mr WHITING (Murrumba—ALP) (10.12 pm): I want to begin by paying tribute to the member for Bundaberg. I do not think you could find anyone with a better heart. This woman has the courage of a lion. I am proud to call her my friend and Bundaberg should be proud that she is their member.
I am going to talk about the great economic news that is happening in our state, and that is something that the other side cannot argue with. I want to talk about some great economic news from the electorate of Murrumba. We have heard today how the economic conditions in Queensland have continued to improve under Labor, with economic growth up 1.2 per cent in real terms in the June quarter. This makes it 3.8 per cent higher this year, as we have heard the Treasurer say. It cannot be denied that we have recorded the strongest economic growth in four years. Our gross state product increased 3.2 per cent in 2015-16, up from 0.8 per cent growth the previous year. That is four times the growth rate under the failed former treasurer Tim Nicholls. Household consumption has risen 2.4 per cent, as we heard the Treasurer say, in 2015-16, and that shows that confidence amongst Queenslanders is growing. They are going to ignore the circus they are conducting over on the other side because they know what is happening out there.
We can see that that strong sentiment and strong growth is reflected in the local economy in North Lakes. The most spectacular example of this growing confidence is the massive expansion of Westfield North Lakes and the arrival of the new Ikea. The new $170 million Westfield project was commenced last year after the completion of the $80 million first stage. The new Ikea and Westfield will create 4,700 jobs in construction and a further 900 in retail upon completion. The North Lakes Sports Club is a $25 million project that will generate 100 construction jobs and 120 hospitality jobs when complete, and stage 2 of the $75 million Primewest North Lakes development is expected to be completed later this year. There is glowing economic news coming out of our area. Business is booming in Murrumba and it is booming in North Lakes. That is something that the other side cannot run down. They cannot call this state the Spain of Australia anymore. There is also the Boutique Hotel at Lake Eden, which is a $3.8 million construction. All of this shows that there is growing consumer confidence amongst my residents despite this mob opposite, who are trying to run down our economy just to prove a political point.
