The Queensland government has announced new cost-of-living measures — headlined by a $100 voucher for families with school-aged children — replacing those introduced by its Labor predecessors last year.
Treasurer David Janetzki handed down the LNP government’s first budget today, projecting the state’s debt to to remain at record levels, likely eclipsing $205 billion by the 2028-29 financial year.
That’s down from the $218 billion forecast by the 2027-28 financial year in the mid-year budget update in January.
The budget is expected to record an almost $9 billion deficit in the next financial year, reducing to $1.1 billion by 2028-29.
Premier David Crisafulli promised debt would be lower under his government, and took a projected debt figure in their costings to the election of $171 billion by 2027-28.
Mr Janetzki told parliament the deficit was driven by an “unprecedented GST reduction” of more than $2 billion, as well as declining coal royalties.
“The former government collected more in coal royalties in two years than what will be collected in the next four.”
The government said the improved deficit position would be funded through capping annual expense growth, and curbing the number of non-frontline senior executives until 2028.
‘Targeted’ cost-of-living relief
Queensland families will receive a $100 voucher for each primary school student to help pay for uniforms, school books and excursions.
The “Back to School Boost” will apply to the entire state, costing more than $180 million over the next four financial years.
“We’re investing in this targeted program across the forwards to support Queensland families as part of a responsible and comprehensive cost of living package,” Mr Janetzki said.
Big ticket cost-of-living relief measures, $1,000 energy rebates, and discounted vehicle rego — introduced by the previous government last year — have ended.
The electricity rebate scheme for vulnerable households, including seniors, pensioners and concession card holders, will increase by $14 to $386 after the government restored annual indexation.
Prior to the budget, the government announced it would be continuing its Labor predecessors’ $200 “Play On” vouchers to help with sports costs.
New first home buyer scheme launched
From July 1, first home buyers can register for a new shared ownership scheme to reduce the deposit gap, known as “Boost to Buy”.
Available to 1,000 applicants over the next two years at a cost of $165 million, the government will support people to buy a home with as little as a 2 per cent deposit.
A pre-election pledge, Mr Janetzki told parliament singles earning up to $150,000 and couples earning up to $225,000 will be eligible.
“This program has the highest income thresholds of any related scheme in the country, with the government investing up to 30 per cent equity for new builds and 25 per cent of existing homes, up to a home value of $1 million,” he said.
Other already announced housing measures include extending the $30,000 first home owner grant for 12 months, and almost $600 million in new funding for homelessness services.
There is also a total $5.6 billion investment in social and community housing, with a record 52,000 people on the waitlist.
The government plans to build 2,000 new social and community homes a year by 2028.
Energy road map
Another part of the forecasted improved budget position will be a reduction in the money allocated for the Borumba Pumped Hydro Project, south of Gympie.
Around $3 billion will go towards the renewable energy project over the next four financial years, with $355 million allocated to early works next year.
The previous government had budgeted $8 billion in its last budget, with the total cost expected to exceed $18 billion.
After axing the Pioneer-Burdekin Pumped Hydro Project, the largest facility of its kind in the world, the LNP has outlined details for its smaller projects.
The government is investing $79 million for ongoing developments at Mt Rawdon and Stanwell, and will continue work on a Capricornia project, in partnership with the private sector.
Record health budget
More than $33 billion will be invested in the public health system next financial year.
The budget also allocated more than $18 billion in health infrastructure over the next five financial years.
“With new hospitals to be built at Toowoomba, Coomera and Bundaberg, and expansions for 10 existing hospitals, it will deliver more than 2,600 hospital beds across the state,” Mr Janetzki said.
“We’re boosting our frontline health workforce with more than 4,500 additional health workers in 2025/26, including doctors, nurses and paramedics.”
The timeline for when the new hospitals and beds will be delivered remains unknown.
Olympic funding
In partnership with the federal government, $7.1 billion will be invested over seven years to deliver the 2032 Olympic and Paralympic Games.
Nearly $1 billion of that has been budgeted for over the next four years to build athletes’ villages.
The state government is still working with the Commonwealth to upgrade agreements on how federal money will be spent for the venues program.
Almost half a billion dollars has been dedicated to “Destination 2045”, a tourism plan aimed at bringing more visitors to Queensland ahead of the Games and ensuring the sector is set up for the years beyond.
Crime measures backed
The LNP rode to power on the back of their flagship “adult crime, adult time” policy.
New facilities for additional prisoner capacity across Townsville and Brisbane will be funded with a $2.4 billion commitment.
Almost $300 million will be dedicated to new and upgraded police stations and facilities across south-east Queensland, Cairns, and Palm Island.
The government has promised to bolster the police force with 1,600 new recruits by the end of its first term, with a net 240 new officers delivered so far.
Almost $150 million has been allocated for police equipment, including for tasers, vests, and body-worn cameras.
More than $200 million will be invested into domestic and family violence protection, including for crisis accommodation, electronic monitoring of high-risk offenders, and funding for crisis response.
Roads and transport
A record $9 billion will be invested in restoring the Bruce Highway, in partnership with the Commonwealth.
The infrastructure pipeline, worth almost $42 billion, includes funding for the Barron River Bridge, Logan and Gold Coast fast rail, and Mooloolah River interchange.
Return to work initiatives for women
The government will launch a new four year $20 million “Returning to Work Package” to help transition women back into the workforce after having children, illness, or caring for family.
Women who have taken time off work to raise a family will receive superannuation payments for the 52-week period of parent leave for Queensland public sector employees.
“By empowering women in the workplace, we’re building a stronger, fairer and more prosperous Queensland,” Mr Janetzki said.