Ever wondered why the economy stalls? Things don’t get done or why you hear of projects that will bring great things to the region but then…nothin’?
Well it seems the cause of all of that has given rise to a new title for Queensland – The Red Tape state.
Queensland has fared badly in a global annual report used by investors and business to gauge jurisdictional ease for projects.
The Fraser Institute report sees Queensland 60th behind South Australia (10th), Western Australia (37th) and offshore Australia (38th).
Globally, Texas, Oklahoma and North Dakota are the top three jurisdictions.
The Australian Petroleum Production and Exploration Association (APPEA) says Australian states had been shamed.
APPEA chief Malcolm Roberts says the annual survey on barriers to investment showed that local and global investors saw a worsening policy environment in Australia and Queensland.
“Regulatory cost, duplication and policy uncertainty across most Australian jurisdictions are a strong deterrent to investors risking capital on new projects.”