The Queensland government is set to spend big on cost-of-living relief, with the treasurer arguing it will be worthwhile despite the likelihood of a budget deficit.
Treasurer Cameron Dick’s fifth budget on Tuesday will splash the cash for Queenslanders ahead of the October state election.
WATCH THE VIDEO ABOVE: Queensland Treasurer Cameron Dick hands down his fifth budget.
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With hours to go, the government flagged plans to freeze government fees and charges — including the cost of driver’s licences — at a cost of $180 million in 2024/25.
This is in addition to a raft of measures designed to provide relief for Queenslanders following last year’s $8.224 billion worth of cost-of-living concessions.
All households will receive $1000 towards their energy bills from the state government next financial year with the commonwealth chipping in a further $300.
However, the energy cash splash won’t be included in the finances for the 2024/25 budget and has been propped up by major revenue from progressive coal royalties.
The tax on mining companies is expected to further prop up the government spending in the budget, which is expected to fall to a deficit of $3 billion in 2024/25 after a surplus of $13.9 billion in 2023/24.
Free kindergarten starts in 2024, public transport fares will be slashed to 50c from August 5, car registration costs will be docked by 20 per cent and children’s sports vouchers will increase from $150 to $200.
Considering the splurge on cost of living relief, the first budget since Steven Miles took over as premier has been forecast as difficult given debt is expected to grow to $188 billion in four years.
However, Dick was staying positive as the government looked to steer Queensland through troubled waters and earn another term.
“We will be focusing on the thing that matters the most to Queenslanders — and that is cost-of-living relief,” he said on Monday.
“We aren’t through the rough waters yet. The seas are still storming and the skies are still dark with so much happening, particularly the impact of inflation and cost of living pressures on Queenslanders.
“Queenslanders need a firm hand on the till, they need people who can get them through these difficult times.”
Cost-of-living relief is not the only expenditure in Tuesday’s budget with additional measures to help Queenslanders into the housing market and a major investment in renewables.
The threshold for the first-home owner concession on stamp duty will be increased, with about 10,000 buyers a year expected to benefit.
The concession on transfer duty will increase from $500,000 to $700,000, then phase out up to values of $800,000.
It will also apply to the first-home vacant land concession threshold, increasing from $250,000 to $350,000, with the concession then phasing out up to values of $500,000.
The government announced last week a major $26 billion investment into renewable power, storage and transmission projects, with $8.68 billion in the next financial year alone.
As a surging wave of violence offences make headlines across the country, Queensland will also look to invest further in protecting workers.
This includes allocating $37 million over four years towards combating occupational violence, particularly in health care.
The government said $36 million would go toward increasing the number of security positions to 70 full-time equivalent across the state’s hospital and health services.
The government will also install CCTV in all high-risk areas and provide personal duress alarms for staff in high-risk areas and body-worn cameras for all security staff.
“There will be better days ahead for Queenslanders but for the time being we are absolutely focused on doing what we need to do for them — to help them at a time of difficulty and that’s what the budget will be about,” Dick said.