Queensland is projected to have three record budget deficits from 2025–26 onwards which would each be the largest on record.

Queensland Treasurer David Janetzki told Bill McDonald on 4BC Mornings, "I'm taking ratings agencies seriously."

"We've got to be prepared, it's highly likely we'll get a rating downgrade."

"So, when we go and borrow money, if our credit rating is worse, it costs more," the Treasurer said.

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