Shadow Treasurer Curtis Pitt said Tim Nicholls’ latest embarrassing attempt to scare Queenslanders into accepting asset sales was a sign of extreme desperation.

“This is a desperate act from a Treasurer who knows that Queenslanders don’t want the asset sales he is campaigning for,” Mr Pitt said.

“This report produces another long-term ‘scenario’, not an official forecast, that doesn’t stand up to any financial rigour. The report itself admits this on page 2, once you get past Mr Nicholls’ spin on page 1.

“First the Costello Audit used wild assumptions to fabricate a $100 billion figure, now the ‘scenario’ is $120 billion. Statements like these are as irresponsible as it comes from someone who purports to be the Treasurer of this state.

“This is yet another taxpayer-funded chapter of Mr Nicholls’ campaign of spin on asset sales.

“First it was Costello’s $2 million dodgy audit, then he hired the $20,000 a month spin doctors from a PR company, then we had the closed-door meetings where he lectures not listens, now we have yet another attempt to scare and mislead Queenslanders over the state’s financial position.

“As Peter Costello did, you could throw any assumption into this model and come up with any debt scare ‘scenario’ you wanted.

“In this case, they say economic growth will fall off a cliff at the end of the forward estimates, and that revenue growth will be slower than over the last decade.

“If that’s true, then that’s a very sad indictment on where the Queensland economy’s heading under LNP management.

“But neither the Premier nor Mr Nicholls ever quotes anything like this ‘scenario’ when they are overseas talking to potential investors.

“It’s insulting to Queenslanders that Mr Nicholls thinks his double-talk and his campaign of lies is going to change the minds of Queenslanders on asset sales.

“Mr Newman and Mr Nicholls told Queenslanders at the last election that had a plan to pay down debt and not sell assets.

“Labor will stand with Queenslanders and hold Mr Newman and Mr Nicholls to that promise.”