Premier releases the next phase of Qld’s strong economic recovery plan

Protecting health, creating jobs, working together and growing the economy are pillars of the next phase of Queensland’s economic recovery plan released by the Premier today.

Premier Annastacia Palaszczuk said that economies around the world had been impacted by the global pandemic but it was because of Queensland’s strong health response that the state was well positioned to move to the next stage of delivering our economic recovery plan.

“This is a crisis like no other and protecting Queenslanders health and economic recovery go hand in hand,” the Premier said.

“But while we are focused on uniting against the global pandemic, we also need to have our eye on the way COVID-19 is changing the world we live in.

“That’s the key to future opportunities to grow the economy, create secure jobs and build a strong Queensland in the longer term.

“In total, including the initiatives I’m announcing today, we’ve committed more than $7 billion to support our health response, support industry and business and provide households with cost of living relief.

“Our approach is supporting 55,000 Queensland jobs – but there is more to do.

“The plan I am releasing today will guide our priorities as we rebuild and strengthen the Queensland economy not only in the short term but over the years to come.

“It has been developed after extensive consultation with industry stakeholders and regional communities and identifies priority areas beyond immediate stimulus for our future focus.

“It’s a plan built to protect Queenslander’s health, create jobs and by working together to unite and recover.”

The Premier announced today nearly $200 million in initiatives which underpin the joint focus on protecting health and economic growth.

 “We need to be looking at new opportunities to support and grow our regional economies, create a competitive environment for business to thrive and invest and secure the jobs of the future,” the Premier said.

“Queensland’s regions have told us they see energy as a key part of diversifying their economies and attracting new industry. Energy means jobs.

“We commit $145 million for the creation of three Queensland Renewable Energy Zones located in southern, central and northern Queensland.

“With the right support from governments, these zones will help connect new renewable energy to our power network, and attract industries wanting new energy to a series of connected commercial and industrial power hubs across the state.

“Our gas industry is a vital part of our State’s energy and resources future, that’s why we’re committing $5 million for a concept study into the Bowen Basin pipeline to build productive infrastructure connecting high quality gas reserves to the east coast and export gas market.

“If progressed, a pipeline could potentially create more than 1000 construction jobs and open up new reserves of gas for domestic and export use.”

The Premier also said more was needed to support Queenslanders’ mental health because of the toll this pandemic was having on people across the state. 

“$46.5 million will go to local mental health treatment services for those Queenslanders with or at risk of developing mental health issues due to the impacts of the COVID-19 pandemic,” she said.

“This treatment needs to respond to local needs and be community based.”

Treasurer Cameron Dick said the economic recovery plan, and the latest series of initiatives were part of the Government’s sensible and staged approach to economic recovery.

“This plan outlines six key areas of focus in our recovery planning. While health remains a key focus, there are also vitally important areas such as supporting small business, ensuring we deliver a workforce with the right skills for the growing and changing economy and creating a competitive environment for private sector investment,” Mr Dick said.

“The global pandemic has reinforced the fact that we need to be making more right here in the state and we need to do more to help diversify and build economic resilience in regional economies.”

The six priority areas are:

• Safeguarding our Health – safeguarding your health, and your job, by keeping Queensland pandemic ready
• Backing small business – helping small business, the backbone of our economy, thrive in a changing environment
• Making it for Queensland – growing manufacturing across traditional and new industries, making new products in new ways and creating jobs
• Building Queensland – driving investment in the infrastructure that supports our recovery, resilience and future prosperity
• Growing our regions – Helping Queensland’s regions grow by attracting people, talent and investment, and driving sustainable economic prosperity
• Investing in skills – ensuring Queenslanders have the skills they need to find meaningful jobs and set up pathways for the future.

“Our investment shows that we are not only committed to building back – it’s about building back better and stronger,” he said.

“A partnership approach is key to our future success.

“Extensive consultation through the Queensland Industry Recovery Alliance and Regional Recovery Networks has informed this plan and we look forward to working together on the recovery path ahead.”

To view Queensland's Economic Recovery Plan - https://www.covid19.qld.gov.au/government-actions/our-economic-recovery-strategy

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