Queensland Budget 2023-24

Fiscal Overview

Record net operating surplus of more than $12 billion forecast for 2022–23
Extraordinary strength in coal and oil prices leading to a $10.5 billion increase in expected royalty revenue in 2022–23
Record 4-year capital program of $89 billion supporting 58,000 jobs in 2023–24
Forecast borrowings lower in the near term

Nominal value of exports expected to grow to a record of almost $140 billion in 2022–23
Queensland economy is forecast to grow by 3 per cent in 2023–24
Employment growth expected to remain strong at 3¼ per cent in 2022–23
Queensland’s unemployment rate is forecast to stay low by historical standards at 4¼ per cent in 2023–24

A record $8.2 billion in total concessions funding in 2023–24
Electricity bill rebates for all Queensland households and eligible small businesses
15 hours per week free kindy for all 4-year-olds
School breakfast programs and support for critical food relief for Queenslanders experiencing hardship

Improving ambulance responsiveness and reducing ramping, improving access to emergency departments, surgery and specialist clinics, boosting women’s health care and mental health support
Opening of all 7 Satellite Hospitals in 2023–24 to provide non-urgent health care services in the community
New 10-year agreement with LifeFlight Australia to deliver emergency helicopter services
Incentives for medical practitioners and health care workers to relocate to Queensland

Support to increase the commencements of social and affordable homes, and unlocking additional residential land
Increasing housing and homeless support services
Build-to-rent tax concessions for eligible developments providing affordable dwellings at discounted rents
Rental law reform to limit rent increases to one a year to balance rights and interests of renters and property owners

Programs to address youth anti-social and/or offending behaviour and prevent youth crime
High visibility police patrols and specialist youth crime rapid response squads
Support for communities to secure their property and develop local solutions to youth crime issues
Increasing capacity at youth detention centres

Energy transformation through the Queensland Energy and Jobs Plan, with investment in new wind, solar, storage and transmission
Continuing delivery of the health system Capacity Expansion Program to provide additional overnight beds
New and improved schools and school facilities
Commence delivery of venues infrastructure for the Brisbane 2032 Olympic and Paralympic Games