RAJ REPORT

Curtis Pitt should worry about the CREDIT RATING not a recession—–Queensland’s AAA credit rating loss costs millions | The Courier-Mail————The yearly bill went up a staggering $200 million overnight after Queensland’s AAA credit rating was downgraded to AA+ as the economic crisis deepened.

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QUEENSLANDERS will pay almost $3.2 billion for State Government borrowings next year, and astonishingly, that’s just the bill for the interest.

The yearly bill went up a staggering $200 million overnight after Queensland’s AAA credit rating was downgraded to AA+ as the economic crisis deepened.

Treasurer Andrew Fraser revealed yesterday that the revised rating had moved Queensland into a different borrowing bracket – meaning we would pay 0.4 per cent more on loans.

But a defiant Treasurer said Queensland would continue to borrow to deliver its $17 billion infrastructure program, which supported about 120,000 jobs.

“We are determined to protect jobs ahead of our own political interests. I am more than prepared to put my own job on the line to help Queenslanders keep theirs,” he said.

 

 

 

Queensland’s AAA credit rating loss costs millions | The Courier-Mail.

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