Union protesters will rally to speak out against expected assets sales in the Queensland budget. Source: AAP
THERE will be no tax increases or service cuts in the Queensland budget, Treasurer Tim Nicholls says.
Cabinet on Monday signed off on the budget, which will be handed down on Tuesday.
The government had been considering service cuts, tax increases or asset sales to help pay down $80 billion worth of debt and fund infrastructure.
Despite Mr Nicholls ruling out two of the three choices, he still wouldn't say whether the government will sell up to $32 billion worth of assets if it wins the next election.
"You'll have to come along tomorrow," he said.
"There will be no cuts to services, nor will there be any new taxes, fees or charges.
"It will continue our strong and methodical approach to fixing these state of Queensland's finances."
While Mr Nicholls says the Queensland government will not make cuts, the budget is expected to show the full cost of federal reductions.
The Commonwealth cancelled the $50 million paid to the states to help supply pensioner concessions for water, transport and electricity.
"Unfortunately, there will be some decisions that will have to be made where we have not been able to absorb all of the changes that have been made at the federal level," he said.
"Some of those changes may well flow through to the concessions."
Mr Nicholls is still promising a return to surplus in 2015/16 as planned, despite the projected deficit quadrupling to $2.27 billion from six months ago.
There had been a $600 million write-down in coal royalties, and Queensland is also waiting to be reimbursed a billion from the federal government for recovery work down after cyclone Yasi, Oswald and Ita.
"That is a timing mismatch that we anticipate will be cleared up over the next 18 months," he said.
Alex Scott, the secretary of the public sector union Together, expects increased royalties from coal seam gas and liquefied natural gas will negate the need for service cuts in the budget.
"We think the budget should return to surplus in 2015/16 but the government's got to be serious ... about delivering quality services for Queenslanders rather than delivering to their political donors," he told reporters.
"We don't believe there is a debt problem in Queensland.
"Return to surplus will mean the debt is serviceable and the surplus can also be directed towards debt reduction."
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