The Queensland State Budget handed down by Treasurer Cameron Dick on 15 June 2021 reported a budget deficit of $3.8 billion is expected this year, improving to $3.4 billion next year and forecasted to return to a small surplus of $153 million in 2024-25.
The Budget focused predominantly on health, education and training, renewables and infrastructure reflecting the Government’s Economic Recovery Plan.
Key measures include:
- $140 million will be invested into the Small Business Strategy, comprising $100 million for a Business Investment Fund, support to establish a permanent Queensland Small Business Commissioner and $30 million to increase small business skills and capability through grants and other support for small business.
- A record health investment of $22.2 billion to provide a world-class health system through frontline staff and addressing demands for medical services;
- $18.3B will be invested in education and training in 2021/22 with programs that support early years, transition into the workplace and further education.
- $3.34 billion to be invested in the new flagship investment initiative, the Queensland Jobs Fund, focusing on investment attraction and industry development.
- $460 million toward targeted investments in flagship skills and training and employment programs, Skilling Queenslanders for Work and a revitalised Back to Work program.
- $16.8 billion to education including 10 new schools to open by 2024
- $14.7 billion on infrastructure with 61% of next year’s financial spent to occur outside of Greater Brisbane.
- $1 billion for a Housing Investment Fund which is the single biggest investment of any government has made into housing and will support the current housing shortages.
- 2 billion Queensland Renewable Energy and Hydrogen Jobs Fund to help government-owned corporations increase ownership of renewable energy and hydrogen projects.
- Regional Qld have received smart infrastructure spending on water security, resource recovery and energy investments.
Further information on the Qld State Budget highlights can be found here.
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