Southern states to sap Qld’s GST revenue gains: Moody’s

first_imgHome values dropped across the country in 2018. Picture: Penny Stephens.Earlier this month, CoreLogic data revealed national home values dropped 4.8 per cent in 2018, marking the weakest housing market since 2008.Brisbane bucked the trend, with values rising 1.2 per cent for the year. Moody’s says state governments are feeling pressure from the housing correction. Image: AAP/Troy Snook.The report singles out Queensland as being vulnerable to rising health and education costs because of its recent “rapid population growth”.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoIt forecasts an increase in capital spending in the state as a result, which would erode cash reserves and prompt the state government to issue additional debt.“Debt levels remain elevated, and we expect debt will continue to rise more rapidly than revenue as most states embark on record capital spending programs,” Moody’s senior credit officer John Manning said. Moody’s says GST reform has added revenue to Queensland, but it will not enough to offset the fall in stamp duty. Image: AAP/Darren England.In its most recent budget update, the Queensland government also marked down stamp duties by $240 million.But NSW and Victoria are expected to be hit the hardest.“Despite already projecting lower property-related revenue in their fiscal year 2019 budgets, the larger states of NSW and Victoria now forecast further declines in transfer duty and land tax revenue as a result of weakening residential property market prices and falling sales volumes,” Mr Manning said in the report.“Concurrently, Queensland projects a marginal decrease in average revenue growth over the forecast period, reflecting lower income from GST and dividends, more than offsetting increased royalties in FY2019, largely on higher coal prices.”center_img Moody’s says state governments are feeling pressure from the housing correction.THE property downturn led by the country’s two biggest housing markets is partly eroding Queensland’s revenue gains from reforms to GST funding, a new report warns.While the sunshine state is weathering the correction better than most states, Moody’s Investor Services says government debt levels remain high and could outpace revenue growth on capital spending programs.And while the recent GST reform has given Queensland an extra $518 million over the next eight years, the rating agency says it may not enough to offset the fall in stamp duty.last_img read more

Athletes react to recent shootings

first_img Newsroom GuidelinesNews TipsContact UsReport an Error Former USC running back Reggie Bush, part of the 68.7 percent of NFL players who are black, according to the Institute of Diversity and Ethics in Sport, was outspoken via his Twitter account about the Baton Rouge shooting of Alton Sterling on Tuesday. The 49ers running back tweeted a picture of the Louisiana black man moments before he was shot and killed, complete with text and graphics pointing out the two police officers seemingly controlling both of Sterling’s hands.One of Bush’s tweets read: “When will this stop I don’t see any difference they still killing our people for no reason! Scared trigger happy cops with no training.”Clippers guard Jamal Crawford also weighed in Wednesday, tweeting: “Innocent lives man.. No restart button on life. People are taking lives like they’re playing a video game.. HAS TO STOP! #AltonSterling.”Former Lakers forward Metta World Peace, who encountered plenty of police officers growing up in a rugged neighborhood in Queens, New York, explained to the Southern California News Group his unique perspective on the series of shootings. In reference to two black men who were killed amidst questionable circumstances, he allowed that “people died that should not have died,” and argued that each officer involved in the fatal shootings should resign. But World Peace’s overriding sentiment for law enforcement was one of admiration and understanding for the peril they are routinely exposed to on the job.“You need police officers training to protect and serve, of course. But you can’t always be looking out for bad things,” he said. “At the end of the day, if you train a pitbull to bite, the pitbull will bite.”World Peace recalled an episode from his youth when two police officers joined a pick-up basketball game, leaving their guns on the sideline “in the middle of the ‘hood.” “I trust cops. If I die trusting cops, so be it,” World Peace said. “What I don’t trust is the system.”The 16-year NBA veteran heavily involved with mental health charities is advocating for funding required psychology courses for police officers to better equip them to understand the people in their jurisdiction. Diamond Bar native Alex Morgan of the U.S. soccer team was among those contributing to the outpouring of support for the fallen officers in Dallas, tweeting Thursday night: “Hurting for Dallas right now. It seems like we wake up or go to sleep reading more tragedies than not.I want to wake up from this nightmare.”Defensive end Chris Long, who played for the Rams the last eight seasons, tweeted several sentiments after the Dallas shootings.“Praying for those Dallas PO’s. Respecting, appreciating good ppl in uniform. Being angry about an unjust murder by a PO not mutually exclusive,” Long tweeted. “All violence in this country sucks. Whoever perpetrates it. intellectually dishonest people will continue to justify it. So sad. Rant over.”Kershaw is not only geographically tied to law enforcement in Dallas, he contributes to a charity, Behind Every Door, that targeted the apartment complex with the highest crime rate in Dallas. A community center was built in the complex that Kershaw’s contribution is helping renovate in an effort to keep youth off the streets. The effort is directly affecting the Dallas Police Department, which Kershaw has been tied to since growing up in the city they protect.“Being from Dallas, you see cop cars all the time,” Kershaw said. “It’s just scary to think they’re being targeted.”Staff Writers Mark Medina and J.P Hoornstra contributed to this report.center_img It hit close to home for Clayton Kershaw in every sense when shootings in Dallas on Thursday night claimed the lives of five police officers, wounded seven more and injured two civilians.The Dodgers pitcher is a Dallas native who still resides there in the offseason. He was a fearful spectator from 1,500 miles away on Thursday, hoping friends and family remained out of harm’s way as the horrific events unfolded in downtown Dallas.“Not far from where we live at all,” Kershaw said. “You never really think that will happen in your city. You just think you’re kind of immune to it, I guess. It just shows that everybody can be affected by it. A lot of my friends and friends’ parents work downtown right there, so just really scared, really sad.”Several athletes with Southern California ties utilized their platform to express sentiments about the events of the past four days, which began with two black men being shot and killed by police officers. last_img read more