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S&P Cuts Queensland Credit Rating, Lifting Borrowing Costs

By Drooid · Sep 12, 2026, 12:41 AM UTC · How we work

Summary

Story summary

S&P Global cut Queensland’s credit rating from AA+ to AA.
Treasurer David Janetzki (Queensland) said the downgrade was inevitable after the Labor government’s spending.
S&P warned higher wages, a soft property market and Olympic projects will keep deficits high for two to three years.
Gene Tunny (Adept Economics) said the lower rating will raise borrowing costs, limiting funds for health and education.

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Story summary

S&P Global cut Queensland’s credit rating from AA+ to AA.
Treasurer David Janetzki (Queensland) said the downgrade was inevitable after the Labor government’s spending.
S&P warned higher wages, a soft property market and Olympic projects will keep deficits high for two to three years.
Gene Tunny (Adept Economics) said the lower rating will raise borrowing costs, limiting funds for health and education.