The 2019-20 Queensland Budget has been announced this week, with many changes affecting landowners and employees across the state. Here is an overview of everything the budget covers.
The Budget includes a $12.941 billion capital works program. This program will support 40,500 jobs across Queensland, with more than 60% of these jobs located outside Greater Brisbane Region. The capital program includes funding for schools, hospitals, cultural facilities and social housing, with the aim of improving quality of life for Queenslanders.
This Budget aims to harness the power of Queensland’s business sector with the aim of increasing jobs across the state. The 2019–20 Budget commits $885 million in a series of targeted payroll tax initiatives over the next four years that will deliver lower taxes. New initiatives deliver lower taxes for 13,200 small to medium businesses. There will also be more incentives to hire more Queenslanders for all businesses.
Queensland’s start-up revolution continues to receive backing this Budget through the $80 million Business Development Fund. This Fund aims to support innovative businesses and encourages regional participation.
With Queensland’s workforce projected to exceed 2.6 million by 2022, this Budget will fund skills training to drive a strong economic future with a focus on supporting small business, delivering jobs and creating an entrepreneurial culture.
The delivery of more teachers and teacher aides, as well as improve educational outcomes through significant funding to enhance frontline education services and across the state.
With investment in new, and upgrades to existing health and ambulance facilities, this budget provides a $777.7 million capital program and $18.5 billion in operation funding designed to maintain Queensland’s health services. This includes a range of research and scientific services, and community health services designed to meet the state’s ageing and growing population.
$740 million will be delivered to the Queensland Fire and Emergency Services Budget. $50 million will be invested in new and replacement Rural Fire Brigade and Fire and Rescue service equipped vehicles. An additional 436 police have joined the ranks as part of the Government’s commitment to enhance frontline services.
$250 million is allocated to CleanCo for renewable energy generation and will create more jobs on top of the 4,000 Queensland jobs in the solar, wind and hydro sectors. During the 2019–20 financial year, the Government’s renewable electricity generator CleanCo Queensland will commence operations.
The Budget also provides $5.7 billion in water, electricity, transport, housing and education concessions to reduce the cost of everyday living.
This Budget delivers a range of tourism programs and initiatives designed to entice visitors to Queensland.
The Budget has imposed another land tax increase on the state’s largest job-creator – the property industry. The State Government has not increased the First Home Buyers’ Grant.