The Queensland budget does not provide for the type of infrastructure needed to increase the state's worth despite significant borrowings, opposition leader David Crisafulli claims.
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He says an alternate strategy will begin with the budget reply on Thursday and insists the LNP has to show a "superior economic way forward".
"Our borrowings haven't increased our net worth as a state; it's barely moved the needle," Mr Crisafulli said on Wednesday.
"So we've wacked another 28 billion on the credit card and yet our net worth as a state has effectively stayed where it is."
Treasurer Cameron Dick said from this financial year to the end of the forward estimates, net worth in Queensland would increase by $150 million.
"That is because of the very significant and sustained injury to the Queensland economy that COVID-19 has caused," he told parliament.
Deputy opposition leader David Janetzki said net worth stagnates over the full budget because the government had increased debt to cover spending instead of building infrastructure.
"The NSW budget has nearly doubled Queensland's infrastructure spending and their net worth increases with these new assets by almost $30 billion," he said.
Mr Dick said net worth in Queensland fell by $1 billion under the previous LNP Newman government.
"From the election of our government to the end of the forward estimates, net worth will increase by $3 billion," he said.
The state budget forecasts deficits for the next four years and for total debt to hit almost $130 billion by 2023/24.
In September, the government forecast debt to be almost $102 billion in the current financial year.
Premier Annastacia Palaszczuk pledged to borrow an extra $4 billion to fund stimulus during last month's election campaign.
She denied she has broken an election promise by borrowing seven times what she initially pledged.
"No, we have said very clearly that we will have more deficits, that we'll implement our economic recovery plan," Ms Palaszczuk said on Tuesday.
"And I said very clearly yesterday that our debt is much, much lower than NSW and Victoria."
Australian Associated Press