Below average incomes in Queensland despite mining boom

CPD’s recent report by Laura Eadie, All boom, no benefit, found that Queensland households are 5% below the national average for income. The report findings would likely concern readers of the Sunshine Coast Daily and other Queensland APN group papers. An over-investment during the boom could have hurt income levels and with the boom predicted to be cooling off, income levels could drop to 15% below the national average, as it has in the past. CPD’s report All boom, no benefit? calls for a new economic strategy to help the Queensland economy diversify and grow.

“The report, Ms Eadie argued, showed a need for the state’s economy to diversify away from mining – a key issue being examined by the Queensland Plan under development.

That 30-year state government plan will provide the over-arching direction for the state’s economic future, and has included consultations across Queensland with many residents and organisations.

Ms Eadie said the state was now seeing an “inevitable industry shake-out” as coal prices fell and cheaper new competitors entered the energy market.”

Read the article at The Sunshine Coast Daily

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