Budget 2020-21 drives economic recovery through 1000 election commitments

Queensland’s 2020-2021 budget will deliver on key election commitments as the Palaszczuk Government continues to deliver its plan for economic recovery.

Premier Annastacia Palaszczuk said thanks to Queensland’s strong health response, the state economy was in a stronger position than others.

“This budget will support our economic recovery from the global COVID-19 pandemic by supporting jobs and supporting Queensland communities with investment in infrastructure as well as Queensland manufacturing and supporting our regional centres,” the Premier said.

“It delivers on our election commitments and is the next step in Queensland’s economic recovery.”

Treasurer and Minister for Investment Cameron Dick said that the 2020-21 State Budget shows Queensland’s superior economic performance means we will be the only state, other than Western Australia, to record positive economic growth this financial year.

“Before and during the State Election – held just one month ago – we made more than 1,000 commitments to communities, businesses and the state’s 5.2 million people,” said Mr Dick.

“The Government’s commitments were all laid out in the COVID-19 Fiscal and Economic Review, the Palaszczuk Government’s Economic Recovery Plan, and our 2020 election costings”

“The 2020 budget will help drive a $56 billion capital works program – the largest in over decade, with $14.8 billion to be spent this financial year supporting 46,000 jobs

Mr Dick said Queenslanders following medical advice and working together with health professionals and frontline agencies to manage the impacts of COVID-19 has seen the state recover faster economically that others.

“This Budget outlines the continued steps we will be taking on that road to recovery,” he said.

“It delivers on the Palaszczuk Labor government’s clearly defined priorities:

• Safeguarding our health: Safeguarding our health and jobs by keeping Queensland pandemic ready. 
• Supporting jobs: Support increased jobs in more industries to diversify our economy and grow our existing strengths in agriculture, resources and tourism.
• 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 new 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.
• Backing our frontline services: Deliver world class frontline services in key areas such as health, education and community safety. 
• Protecting the environment: Protect and enhance our natural environment and heritage for future generations and achieve a 50% renewable energy target by 2030.

“More than anything else, this Budget has a single overarching objective – creating more Queensland jobs. It is focused on economic recovery and sustainable fiscal repair.

“It is unashamedly pro-business and pro-growth,” he said.

Among the key highlights from the 2020-21 State Budget are:

• 46,000 jobs supported by the government’s $14.8 billion infrastructure investment in 2020-21, including 28,700 - or 58 per cent - of those jobs being outside of the Greater Brisbane region
• A $56 billion investment over four years in capital works and infrastructure – the largest in over a decade – including large-scale projects such as:
• upgrades to the State’s ‘spine’, the Bruce Highway
• a range of works on the M1 Pacific, Ipswich and Centenary Motorways
• continued construction of Cross River Rail, Gold Coast Light Rail Stage 3A and on the North Coast rail line
• enhancements to our network of government-owned energy, water and port assets
• renewable energy projects
• new or upgraded hospitals, schools and TAFE campuses
• additional social housing and
• improving justice and public safety facilities.

“This massive program of works also supporting thousands upon thousands of smaller-scale projects in just about every suburb, town or regional city of the state,” said Mr Dick.

“Our Budget details many of those important projects, as well as programs supporting councils to deliver a multitude of job-generating projects in their local communities.

“Given almost half of the state’s population lives outside of Greater Brisbane, we are strongly focused on delivering the necessary support to enable our regions to grow and economically prosper.

“This includes our key industries such as tourism, agriculture and mining.

“We are also supporting Queensland’s mighty manufacturers and attracting new businesses to the state to support economic diversity and resilience – and create new jobs.”

Mr Dick said $21.8 billion has been allocated to health and $17.5 billion for education and training in 2020-21.

“We are also investing heavily in our frontline services, which were so vital in the COVID-19 response. This includes more nurses and midwives, more doctors and other health professionals including 475 ambulance operatives; an extra 2,025 police personnel over the next five years; 357 extra firefighters and thousands of new teachers and teacher aides.”

Mr Dick said $200 million will be invested in the future skills of Queenslanders, while the free TAFE and free apprenticeship programs currently offered to people aged under 21s, will be extended to under 25s, opening up this opportunity to another 37,000 young Queenslanders.

“The Budget also backs Queensland’s small businesses, to support jobs and communities. More than $7 billion in COVID-19 stimulus measures have been provided already, reducing business costs through payroll tax relief and other tax relief measures.

“We are also protecting the environment and supporting the renewable energy sector as it continues to grow. The Great Barrier Reef will benefit from an additional $40 million and naturally will be one of many locations featured in a new Good to Go tourism campaign commencing today, focused on attracting more interstate visitors.”

Mr Dick said there was also a reforming element to the 2020-21 Budget, necessitated by its timing. 

“The financial statements have been simplified to the income statements which has been required given the close proximity of the 2020 State Election and machinery of government changes,” he said.

“In addition, the tables include 2019-20 Actuals rather than estimates from the previous financial year as annual reports have already been tabled in parliament.

“Budget Measures, typically presented as Budget Paper 4, has been included with agency Service Delivery Statements while the whole-of-government capital program is presented on an infrastructure class basis.”

 ENDS

Media contact: Geoff Breusch – 0417 272 875