Joe Hockey (North Sydney, Liberal Party, Shadow Treasurer) Share this | Hansard source

My question is to the Treasurer. Is the Treasurer aware that, because the Queensland government has just lost its AAA credit rating, the cost of its borrowings may increase by 50 basis points, or up to $370 million a year on its refinanced $74 billion of borrowings? Treasurer, what is the flow-on impact to the other states of the credit downgrade in Queensland? Who is going to pay for the increased cost of borrowings by the states?

See this speech in context