One might suspect that Queensland will be disproportionately affected by the loss of tourism income.
But it is a good thing they are pursing fiscal prudence by increasing the salaries of the very large number of public servants employed and plans to buy a badly managed and bankrupt airline.
But the rest of us should not be concerned. When the Queensland budget blows up and (non RBA) debt markets stop lending, the rest of us will need to kick in again. With a Medicare levy surcharge as was required for the Queensland floods because the Queensland government failed to properly insure (self or otherwise).
Queensland. Profligate one day. Mendicant the next.
Hey Queensland Government and QIC. TAFKAS has shares in a bridge and opera house tokenised offering available. Once it is paid off, you can relocate them to Brisbane. Good returns available. Please send your cheque to my Nigerian bank.