A COST-of-living Budget is what was being sold by the State Government, and when handed down last Tuesday that’s exactly what was delivered, along with the third surplus in a row.
Premier Steven Miles said his Government was doing what mattered for Queenslanders with the Budget notable for cost-of-living relief that would ease the pressure on hip pockets but come with long-term pain in the form of deficits for the next three years.
New and expanded cost-of-living concessions and rebates worth $3.739 billion to lower household bills and fight inflation paired with nation-leading support for Queenslanders totalling $11.218 billion were the flavour of the Budget.
Electricity bills, public transport, car registration, and sports vouchers are among the suite of savings.
New and boosted initiatives include electricity bill rebates, almost free public transport, reduced vehicle registration fees, more and bigger discount vouchers for children’s sport and active recreation activities, as well as expanded relief measures for vulnerable groups.
Cost-of-living relief for all Queenslanders includes $1300 electricity bill support for all households from July, 20 per cent reduction in vehicle registration fees for a 12-month period, a flat fare of 50 cents per trip across all Translink public transport services for six months, $200 Fair Play vouchers for sport and active recreation activities for up to 200,000 Queensland children, and $15 million for the School and Community Food Relief fund to provide healthy food for children during school days.
The record cost-of-living package has been funded by Queensland’s super-profits coal royalties program, which added $3.6 billion to the royalty’s revenue of $10.541 billion.
Mr Miles said his first Budget as Premier delivered on his commitment from day one of putting money back in the pockets of all Queenslanders.
The Budget came with a third surplus in a row, following the Queensland record $13.93 billion surplus in 2022-23.
Key Points of Queensland State Budget
- $2.8 billion for planning new supported housing which comes after the announcement of an increase to the stamp duty threshold for first home buyers to $700,000.
- Record $28.9 billion health budget – adding another 4000 additional staff to be employed, with Queensland Health operating at a 96.1 per cent increase since 2015.
- $2 billion next financial year to deliver major infrastructure, investment, and jobs for Queenslanders.
- $1.12 billion investment across the community safety sector in the 2024-25 Queensland Budget
- Prioritising cost of living for vulnerable Queenslanders.
- $154.4 million over four years in assistance and support to help tackle domestic, family and sexual violence.
- $36 million will go directly to frontline DFSV service providers every year, which equates to a 20 per cent uplift in core funding.
- Cost-of-living relief for families with kids in sport – Fair Play vouchers increased to $200 per child from $150.
- Youth Development Partnership Fund receives $3 million boost to help prevent crime through community sport initiatives.
- $137 million in continued support to develop tourism experiences and infrastructure and market Queensland nationally and internationally.
- $2.3 billion for child and family services.
- $3.7 billion for seniors and disability services.
- $21 million for multicultural affairs.
- A further $7.5 million over two years is being invested to continue disability support for children with autism.
- In the Multicultural Affairs budget, there is $21 million to continue strengthening community cohesion.
- Funding to preserve and restore crucial koala habitat, with increased funding of $31.3 million over four years, and $8.4 million per year ongoing.
