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

Economic Overview

  • 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

Tackling the cost of living

  • 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
Cost of Living Stamp

Better health services for all Queenslanders

  • 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

Alleviating housing pressures

  • 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

Delivering solutions for a safe community

  • 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

The Big Build

  • 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
Budget Overview Download
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