BUDGET AT A GLANCE
$12.3b surplus expected in 2022/23, the largest of any state or territory, followed by a $2.1b deficit in 2023/24
$10.5b increase in resource royalties to $18.1b in 2022/23
Net debt: $5.85b in 2022/23, rising to $16.19b in 2023/24
Debt including government-owned assets: $54.6b in 2022/23, rising to $65.4b in 2023/24
COST OF LIVING
* $8.2b in concessions including $1.6b in new and expanded cost of living relief
* $1.5b for additional electricity bill support for households and small businesses
– $550 electricity bill rebate for all households
– $700 electricity rebate for eligible concession holders, as well as the existing $372 power rebate
– $650 rebate for eligible small businesses
– $645m over four years to provide 15 hours a week of free kindergarten for all four-year-olds
– $70.3m over four years for the Patient Travel Subsidy Scheme
– $2.7m over two years for expanded school breakfast program
HEALTH
* $25.8b for health, a 9.6 per cent increase
– Funding towards hospital construction program, including in Cairns, Townsville, Mackay, Bundaberg, Hervey Bay, Toowoomba and in southeast Queensland
– $764m to address ambulance ramping and emergency department wait times
– $72m for 200 paramedics
HOUSING
* $1.1 billion increase for social housing
– $322m to provide 500 additional social homes
– additional $250m for housing and homelessness support services
COMMUNITY SAFETY
* $440m over four years for police and to combat the causes of youth crime and support community safety
– $96m for Youth Co-responder Teams aiming to break the cycle of youth crime
– $30 million in funding to enable seniors to be more secure in their homes
– $58m over four years to implement the Domestic, Family and Sexual Violence review
CAPITAL SPENDING
* $89b capital building program over four years, including $20b in 2023/24 new and ongoing projects including
– Fitzroy to Gladstone water pipeline
– 2032 Olympics infrastructure including the Gabba redevelopment
– Borumba Pumped Hydro and Pioneer-Burdekin Hydro projects
– CopperString 2032 electricity transmission line from Townsville to Mt Isa
– Stage 1 of the Coomera Connector
– Stage 3 of the Gold Coast Light Rail
ECONOMY
* After 4.4 per cent growth in 2021/22, Queensland’s economy forecast to grow two per cent in 2022/23 then three per cent in 2023/24 and 2024/25
* Unemployment rate to edge higher to 4.25 per cent in 2023/24 and 4.25 per cent in 2024/25
* Inflation to drop from 7.25 per cent in 2022/23 to 3.75 per cent in 2023/24 and to three per cent in 2024/25
* Population forecast to increase two per cent in 2022/23, then increase 1.75 per cent in 2023/24 and 1.5 per cent in 2024/25