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A record

$89 Billion

The big build

4-year capital program

Ongoing investment to improve liveability and sustainability of our communities and support our great Queensland lifestyle.

The Queensland Government is continuing to deliver the economic and social infrastructure needed to support a growing Queensland.  

By keeping Queenslanders connected, unlocking development, and making it easier to do business, investments in infrastructure are boosting Queensland’s productivity and competitiveness and supporting job creation and industry development across the state.

This includes significant investments to support the transformation of the state’s energy system and deliver infrastructure projects across Queensland’s regions. These investments are strengthening the resilience of our communities, supporting growth, and improving liveability.

$89 billion record 4 year capital program

The Queensland Government is in the midst of a building boom, with a record 4-year capital program of $88.729 billion

In 2023–24, the government’s capital program will directly support around 58,000 jobs, creating generational change and providing first-class facilities for all Queenslanders.

This Budget continues to deliver on the Queensland Government’s $50 billion Infrastructure Guarantee, and is investing in new and ongoing projects, including:

  • the Queensland Energy and Jobs Plan and supporting investments across renewables, storage and network infrastructure to achieve renewable energy targets of 50 per cent by 2030, 70 per cent by 2032 and 80 per cent by 2035 and deliver clean, reliable and affordable power for generations
  • vital water projects, such as the $983 million Fitzroy to Gladstone water pipeline to deliver water security to the Gladstone region to support current and future industries
  • the infrastructure required to deliver a world-class Brisbane 2032 Olympic and Paralympic Games, including redevelopment of the Brisbane Cricket Ground – the Gabba
  • boosting the QuickStarts Queensland program target by 500 homes, to increase the pipeline to 3,265 social housing commencements by 30 June 2025
  • provision of schools and facilities to help our children succeed, including $968 million over 10 years to establish a strategic land acquisition fund, $358 million over 4 years for new general and specialist learning spaces, and increased funding of $259 million over 3 years to expand the school halls program, which provides for new or upgrade hall facilities, covered outdoor areas and performing arts facilities.

The Queensland Energy and Jobs Plan

The Queensland Energy and Jobs Plan outlines the state’s pathway to transform the energy system over the next 10 to 15 years to deliver clean, reliable, and affordable power, creating a platform for strong economic growth and continued investment. The government’s publicly owned energy businesses are leading Queensland’s energy transformation, investing in new wind, solar, storage and transmission, supported by the $4.5 billion Queensland Renewable Energy and Hydrogen Jobs Fund.

In total, the 2023–24 Budget includes a capital investment of around $19 billion across the forward estimates to support the Queensland Energy and Jobs Plan.

Pumped hydro

The government’s investment in the Queensland Energy and Jobs Plan includes up to 7 gigawatts of large scale, long duration pumped hydro across 2 regional sites, to be delivered by the newly established Queensland Hydro.

The $14.2 billion Borumba Pumped Hydro project, located west of Gympie, will deliver 2 gigawatts of 24-hour storage. That equates to stored renewable power for around 2 million homes. This project has a 2030 target for completion.

The Pioneer-Burdekin Pumped Hydro project will be located west of Mackay. It will be the largest pumped hydro energy storage in the world, with the potential for stage one to be completed by 2032.

These 2 projects, which will be central to Queensland’s energy system, will support around 4,000 construction jobs a year over a decade.

CopperString 2032

The government’s $5 billion investment in CopperString 2032 will deliver a 1,100‑kilometre transmission line from Townsville to Mount Isa, connecting the North West Minerals Province to the National Electricity Market.

The North West Minerals Province contains one of the world’s richest deposits of critical minerals worth potentially an estimated $500 billion. Critical minerals are the essential components for production of emerging technologies such as electric vehicles, renewable energy products and storage and low-emission power sources.

CopperString 2032 will provide energy certainty to the burgeoning critical minerals sector, delivering reliable, affordable and renewable power to the people, businesses and communities in the region. It will also unlock the development of one of Australia’s largest renewable energy zones.

CopperString 2032 is one of the most significant investments in economic infrastructure ever seen in North Queensland, and the largest expansion to the power grid in Australia. The Queensland Government is investing $1.06 billion for CopperString 2032 available due to the progressive coal royalties introduced at the 2022–23 Budget.

Renewable energy and storage

Through the Queensland Energy and Jobs Plan, the Queensland Government is investing in additional wind, solar and storage projects. 

In the 2023−24 Budget, key renewable energy and storage investments include $212.6 million for CleanCo renewables projects in Central Queensland and the Swanbank Battery, $673 million for Stanwell to develop the Wambo and Tarong West Wind Farms and large-scale batteries, and $312.1 million for CS Energy to invest in Central Queensland wind farms and large-scale batteries.  

Supporting the regions

This Budget will invest $13.308 billion in 2023–24 in projects outside of the Greater Brisbane region, supporting around 38,500 jobs.

In the 2022–23 Budget Update, the government committed to utilise the uplift in royalty revenue to fund $4 billion in productivity-enhancing investments across regional Queensland. This will support investments across energy, water, and port sectors for projects which will underpin Queensland’s future economic prosperity. In this Budget, the government is providing an additional $6 billion in funding for the Borumba Pumped Hydro Energy Storage project. This brings the government’s total commitment to regional investments to $10 billion, and includes:

  • $1.06 billion towards CopperString 2032, which will support the construction of the 1,100‑kilometre transmission line from Townsville to Mount Isa
  • $7 billion for state-owned, large scale, long-duration pumped hydro, including $6 billion for the Borumba project over the construction period and $1 billion for the Pioneer-Burdekin project
  • $550 million towards the Fitzroy to Gladstone water pipeline, enabling long-term water security to the region
  • $500 million for CleanCo to support a 2.3-gigawatt portfolio of wind and solar projects in Central Queensland
  • $440 million towards Sunwater’s Burdekin Falls Dam Improvement and Raising Project, improving and raising the dam by 2 metres to further support water security, noting this is on top of the existing $100 million commitment towards the project
  • $300 million for CS Energy to pursue investments in new wind projects and energy firming options to support future industrial decarbonisation in Central Queensland
  • $100 million for Gladstone Port Corporation’s Northern Land Expansion project, subject to approvals, supporting the release of additional land at Gladstone Port and the development of renewable energy and other industries
  • $50 million for the replacement of North Queensland Bulk Ports’ Bowen Wharf, with the plans, designs and approvals subject to further consultation with stakeholders.

As well as the Queensland Energy and Jobs Plan, key projects in rural and regional Queensland include continued construction of the Rookwood Weir and Mount Crosby Flood Resilience Program, delivery of the Toowoomba to Warwick Pipeline project, building new regional hospitals and schools, courthouse upgrades, continued delivery of the Port of Townsville Channel Capacity Upgrade, and expansion of the Cairns Marine Precinct.

Providing a strong transport network

Given the geographical size of Queensland, a strong transport network is vital to supporting our communities and industries.  

Key regional transport projects supported by the 2023–24 Budget include:

  • the ongoing Bruce Highway Upgrade Program, which includes $1 billion to construct Cooroy to Curra (Section D), $662.5 million to upgrade the Bruce Highway between Caboolture−Bribie Island Road and Steve Irwin Way, $350 million to construct a new road to connect the Bruce Highway with Mackay−Slade Point Road, and $336 million towards a bypass of Tiaro
  • construction of Stage 3 of the Gold Coast Light Rail, which will connect to the existing Gold Coast Light Rail network (from Helensvale to Broadbeach South), delivering a 6.7-kilometre extension from Broadbeach South to Burleigh Heads and providing 8 additional stations
  • providing for the Logan and Gold Coast Faster Rail (Kuraby to Beenleigh) upgrade, with a plan to increase the number of tracks between Kuraby and Beenleigh from 2 to 4 tracks, with modernised rail systems, station upgrades and level crossing removals along this 20-kilometre corridor
  • establishing the Queensland Train Manufacturing Program (QTMP), which will build 65 new 6-car passenger trains at a purpose-built manufacturing facility at Torbanlea, in the Maryborough region, as well as construct a new rail facility at Ormeau, in the Gold Coast region.  The QTMP will support South East Queensland’s population and economic growth, as well as Cross River Rail and the Brisbane 2032 Olympic and Paralympic Games.

The Queensland Transport and Roads Investment Program (QTRIP) is a 4-year program, released annually, outlining current and planned investments in transport infrastructure. QTRIP spans road, rail, bus, cycling and marine infrastructure on freight, commuter and recreational networks.  The program of works detailed in QTRIP represents a $32.1 billion investment over the 4 years from 2023−24 to 2026−27.

Further details on QTRIP are available at www.tmr.qld.gov.au by searching for QTRIP.

Building better – Disaster recovery and resilience

Queensland has experienced a significant number of natural disasters in recent years, including devastating floods and cyclones.  Queenslanders are resilient.  We rally together and recover from these challenging events.  The Queensland Government is supporting communities with their recovery, but also investing to reduce the impacts of future events.

With the number of disasters experienced in Queensland each year predicted to rise, the focus of the Queensland Betterment Fund is on creating stronger, more resilient Queensland communities, and reducing future rebuilding costs. Jointly funded by the Australian and Queensland Governments, the Queensland Betterment Fund was established in 2013 following Severe Tropical Cyclone Oswald.  Since 2013, more than 520 projects valued at over $263 million across 70 local government areas have been approved.

The South East Queensland floods in 2021–22 caused damage to almost 7,000 homes and was one of the state’s most devastating disasters.  In response, the Australian and Queensland Governments have established the Resilient Homes Fund, which now totals $761.6 million following a $20.6 million boost in this budget jointly funded by the Disaster Recovery Funding Arrangements Efficiencies.  Under this program, Queenslanders whose homes were damaged by flooding can register to be considered for 3 program options: Resilient Retrofit, Home Raising or Voluntary Home Buy-Back. To date, over 100 flood-impacted home settlements have now been finalised, allowing homeowners who were affected by the floods to sell their home for pre‑flood value and move to safer ground.

The Queensland Government, in partnership with the Australian Government, is continuing to support impacted communities in the 2023–24 Budget with $152 million, including $60 million held centrally, from the Disaster Recovery Funding Arrangements committed to deliver a suite of initiatives to enhance Queensland’s disaster recovery and resilience, including the Bundaberg Levee and uplift to the Resilience Homes Fund.

Brisbane 2032 Olympic and Paralympic Games

The 2023–24 Budget continues to support preparations for the Brisbane 2032 Olympic and Paralympic Games.

The government is providing additional funding of $100.3 million over 4 years and $13.6 million per year ongoing for Brisbane 2032 activities. The Brisbane 2032 Coordination Office will oversee key aspects of Games preparations. This includes planning and designing infrastructure like venues and athlete villages, as well as transport, environment, legacy, First Nations and security. The Coordination Office will also work closely with the Organising Committee for the Brisbane 2032 Olympic and Paralympic Games to ensure government meets its contractual commitments and targets with the International Olympic Committee.

A further $7.5 million over 4 years is provided for the Queensland Police Service to support its specialist security advisor role.

The 2023–24 Budget has provisions for total capital expenditure for Brisbane 2032 venues infrastructure of $7.1 billion over 10 years.  This venues infrastructure program is jointly funded by the Queensland and Australian Governments to support the hosting of Brisbane 2032.  The allocation of funding for specific venues projects will be subject to government investment decisions following completion of project assessment.

The venues infrastructure program comprises the Brisbane Arena ($2.5 billion), the Gabba Redevelopment ($2.7 billion) and 16 new or upgraded venues under the Minor Venues Program ($1.9 billion).  Total forecast expenditure for the venues infrastructure program over 4 years to 2026-27 is $1.9 billion.

A further $154.7 million is provided over 4 years from 2024–25 for Economic Development Queensland to bring forward delivery of public infrastructure to facilitate the development of services and land for the Brisbane Athlete Village.

The 2023–24 Budget also includes $44 million as the state’s contribution to the University of Queensland’s proposed Paralympic Centre of Excellence as part of the Brisbane 2032 Legacy Plan. 

Paralympic Centre of Excellence

The Paralympic Centre of Excellence at the University of Queensland is a jointly funded project with the Queensland Government contributing up to $44 million in budget funding to help construct the world-leading facility.

The University has commenced discussions with the Australian Government regarding funding opportunities for the $132 million centre which will set a new benchmark for inclusion and elite paralympic sport.

The Paralympic Centre of Excellence, to be based at the St Lucia campus, will help participation and training for para-athletes in the lead up to the 2032 Games.

The Queensland Government’s support of the facility provides a possible long-term home for Paralympics Australia and is an example of the legacy the 2032 Olympic and Paralympic Games provides.

The funding will help create an international standard sports venue, a wheelchair and prosthetics workshop, dedicated testing facilities and accessibility to student workforce and education.

It will cater for 20 out of 23 Paralympic sports and employ 22 fulltime staff who will have the opportunity to combine leading research with sport technology and rehabilitation facilities.

Construction is expected to begin in 2025–26 and be completed in 2027–28.

Paralympic Centre of Excellence
Artist impression

Credit: The University of Queensland

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Last Updated: 13 June 2023