Queensland Budget Update

“This Budget is unashamedly pro-business and pro-growth. Most importantly, it focuses on delivering jobs for Queenslanders.” – Annastacia Palaszczuk MP, Premier of Queensland
 

Queensland Economic Overview

This week was Budget week where Queensland Treasurer Cameron Dick MP passed down the Budget for Queensland for this financial year. The run-down of key economic figures from this Budget for this financial year are:

• Nominal gross state product = -3%
• Unemployment = 7.25%
• Inflation = 1.25%
• Wages expected to rise by 1.25%
• Population growth at 1%
• Deficit = $8.6 billion
• Gross state product = 0.25% growth

These figures are projections and may be subject to change.

State-Wide Overview

This Budget focuses on growth, business and jobs and aims to keep Queensland on the road to recovery from the COVID-19 pandemic. While other states and countries have borne the brunt of significant, long-lasting economic ramifications of COVID-19, Queensland is set for growth this financial year.

Overall Queensland is expected to receive $56.24 billion in revenue and will spend $64.88 billion in expenses. Of these expenses, 31.1% is for health, 24% for education, 10.8% for transport, 9.8% for social protection, housing and community services , 9.2% for public order and safety, 3.8% economic affairs, 2.5% for environmental protection, recreation and culture and 8.8% is for other services. This leaves Queensland with a deficit of $8.6 billion.

Unemployment reached its peak last financial year during the height of COVID-19 in Queensland which was 8%. Within 4 years however unemployment is projected to fall to 6.25%. This is because the Palaszczuk Government is investing in infrastructure with a projected total infrastructure spend over the next four years of $56 billion – with 58% being spent outside greater Brisbane. This a major future building program which will support approximately 46,000 Queensland jobs over the next twelve months alone.

Education

The Queensland Government has committed $17.5 billion to education and will commence the hiring of 6,190 teachers and 139 new teacher aids state-wide over next 4 years. As well as this, $21 million has been committed to ensure under 25s have access to free TAFE across Queensland.

Health

The Government has also committed $21.8 billion to health in Queensland and will commence the hiring of 5800 nurses, 1500 doctors and 1700 Allied Health professions state-wide

Small Business Support

The Government will be providing support to 97% of all Queensland businesses including 1 billion in interest-free job concessional support loans. Moreover, $500 million has been committed for the Backing Queensland Business Investment Fund. This will help small businesses in Queensland recover from COVID-19 and prosper.

Concessions

The Queensland Government has committed $6.3 billion to concessions for Queenslanders. This will help reduce the cost of living and support all Queenslanders during these trying times.

Renewables

$500 million has been committed in 2020/2021 to support the renewable energy sector in Queensland. Moreover, $250 million has been allocated to begin construction on a 102.6 megawatt windfarm. This will not only help in our transition to renewable energy sources, but it will also create more jobs for Queenslanders.
This Budget also includes $1 billion to build trains in Queensland, $526.2 million to renovate and upgrade public housing and $1.5 million to promote further inclusion, harmony and unity across a record 211 multicultural events across the sunshine state

Local Overview

This Budget also delivers for the Sandgate Electorate.

Construction of the $128 million Beams Road rail overpass is funded alongside the Carseldine Station Park ‘n’ Ride on the Fitzgibbon side. Overpass construction will commence as early as December 2021.  $5 million have also been allocated for improve noise attenuation along the Gympie Arterial Road at Bald Hills, which will be appreciated by the community. 

$5 million has been committed Sandgate District State High School’s new performing arts hall. This multipurpose teaching and performance facility that will benefit the talented students of Sandgate High and the local community.

The Palaszczuk Government has allocated $600,000 for outside school care upgrades at Shorncliffe State School, Bracken Ridge State School and Sandgate State School. Bracken Ridge State High School have seen $650,000 allocated for disability accessibility works. This will help ensure students living with a disability can easily access all facilities at the school.

Additionally, $29.3 million in 2020/2021 will be used to improve the facilities just across the bridge at the Redcliffe Hospital which will include a new multi-storey carpark.

I am proud to announce the Palaszczuk Government’s commitment to the Sandgate Electorate through the funding of these various projects. 

COVID-19 Overview
 

9 new cases were reported from Saturday to Friday (all in hotel quarantine), with more than 23,368 tests conducted and a cumulative test count of 1,368,667 since March. Queensland currently has 10 active cases, 1,190 recovered and a total cumulative case count of 1,208 as of midday Friday 4 November.

Easing of Border Restrictions and Border Pass Update

Queensland reopened it’s borders to both Greater Sydney and Victoria earlier this week. Greater Sydney and Victoria are no longer declared hotspots, while Queensland remains closed to Greater Adelaide with any travellers required to do 14 days of hotel quarantine at their own expense.

This means Queenslanders can travel to Victoria and New South Wales and people from both these states to enter Queensland. Travellers entering Queensland will only need a border pass if they’ve been in a hotspot or overseas in the previous 14 days.

Queensland Police are conducting random road intercepts, but there are no border checkpoints and drivers are no longer required to display their pass when entering the state.

A decision on border restrictions for South Australia will be made in a week’s time.

COVID-19 Reminder

I ask everyone to play their part in ensuring the health and safety of one another. Maintaining the recommended 1.5m between yourself and others is an essential part of this.  

Additionally, keeping good personal hygiene is a must. Wash your hands with soap regularly and try to steer clear from touching your face, shaking hands or giving hugs.

We need to take all advice seriously and look after the vulnerable in our community.