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Covid-19 Economic Recovery Plan

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Covid-19 Economic Recovery Plan QUEENSLAND BUDGET 2021–22 QUEENSLAND’S COVID-19 ECONOMIC RECOVERY PLAN Budget update budget.qld.gov.au © The State of Queensland 2021 Attribution Content from the Queensland's COVID-19 Economic Recovery Plan – Copyright Budget update should be attributed to: © The State of Queensland, This publication is protected by the Copyright Act 1968 Queensland's Economic Recovery Plan – Budget update. Licence Translating and interpreting assistance This document is licensed by the State of Queensland under a The Queensland Government is committed to providing accessible Creative Commons Attribution (CC BY 4.0) International licence. services to Queenslanders from all cultural and linguistic backgrounds. If you have difficulty in understanding this publication, you can contact us on telephone (07) 3035 3503 and we will arrange an interpreter to effectively communicate the report to you. In essence, you are free to copy, communicate and adapt this Find our report online publication, as long as you attribute the work to the State of Queensland (Queensland Treasury). To view a copy of this licence, covid19.qld.gov.au visit creativecommons.org/licenses/by/4.0/ Contents 4 QUEENSLAND'S RECOVERY 6 SAFEGUARDING OUR HEALTH 8 BACKING SMALL BUSINESS 10 MAKING IT FOR QUEENSLAND 12 BUILDING QUEENSLAND 14 GROWING OUR REGIONS 20 INVESTING IN SKILLS 22 POSITIONING FOR THE FUTURE JUNE 2021 3 QUEENSLAND'S Queensland is the place to be. RECOVERY The COVID-19 pandemic has challenged Queenslanders like never before. Its impacts have been felt by individuals, families, businesses and communities across the state. The Queensland Government’s Economic Faster domestic More jobs recovered Faster workforce Recovery Plan has provided a decisive Safeguarding Building economic growth than than any other state participation growth and effective response to the COVID-19 our health Queensland the rest of Australia or territory than any other state health and economic crisis. 1 Safeguarding our health and 4 Driving investment in the State fi nal demandup by 3% Employment up by 253,200 or territory We entered the pandemic in a strong jobs by keeping Queensland infrastructure that supports pandemic-ready. our recovery, resilience and since March quarter 2020. since May 2020. economic and fiscal position, which Labour force participation rate future prosperity. meant we were well placed to take early up by 4.7 percentage points action. since May 2020. We have responded to the pandemic Backing small Growing our with more than $14.2 billion of business regions initiatives, supporting Queenslanders 2 Helping small business, the 5 Helping Queensland’s regions right across the state, driving economic backbone of our economy, grow by attracting people, talent recovery and creating jobs. thrive in a changing and investment, and driving environment. sustainable economic prosperity. We were the first state to implement response measures and the first to recover all the jobs lost during the Faster consumption Faster dwelling More interstate pandemic. Employment has increased by Making it for Investing growth than the rest of investment growth migrants than 253,200 persons since May 2020, more Queensland in skills than any other state or territory. Australia than the rest of any other state 3 Growing manufacturing across 6 Ensuring Queenslanders have Queensland is the place to be. traditional and new industries, the skills they need to find Household consumption Australia or territory We are continuing to deliver on our making new products in new meaningful jobs and set up up by 3.3% since Dwelling investment Queensland welcomed 30,000 Economic Recovery Plan to help ways and creating new jobs. pathways for the future. March quarter 2020. up by 18.4% since net interstate migrants Queenslanders get back on their feet March quarter 2020. over 2020. and look for the next big opportunity. The 2021–22 Budget continues our commitment to deliver the ongoing support, stimulus and reform needed to Our Economic Recovery Plan remains drive sustainable economic growth and firmly focused on: create ongoing jobs, in line with our 6 economic recovery priority areas. ▸ Protecting our health Faster housing Faster dwelling Faster retail trade ▸ Creating jobs lending growth than approvals growth than growth than the rest the rest of Australia the rest of Australia of Australia ▸ Working together Housing lending up by 118% Approvals for construction of Real retail turnover up by 6.2% since April 2020, including up houses and apartments up by since March quarter 2020. by 96% for owner-occupier 61% since April 2020. fi rst home buyers. 4 JUNE 2021 Queensland is the place to be. Faster domestic More jobs recovered Faster workforce economic growth than than any other state participation growth the rest of Australia or territory than any other state State fi nal demandup by 3% Employment up by 253,200 or territory since March quarter 2020. since May 2020. Labour force participation rate up by 4.7 percentage points since May 2020. Faster consumption Faster dwelling More interstate growth than the rest of investment growth migrants than Australia than the rest of any other state Household consumption Australia or territory up by 3.3% since Dwelling investment Queensland welcomed 30,000 March quarter 2020. up by 18.4% since net interstate migrants March quarter 2020. over 2020. Faster housing Faster dwelling Faster retail trade lending growth than approvals growth than growth than the rest the rest of Australia the rest of Australia of Australia Housing lending up by 118% Approvals for construction of Real retail turnover up by 6.2% since April 2020, including up houses and apartments up by since March quarter 2020. by 96% for owner-occupier 61% since April 2020. fi rst home buyers. JUNE 2021 5 NEW PUBLIC HOSPITAL SAFEGUARDING FOR SPRINGFIELD OUR HEALTH Through a $1 billion investment over the next decade, the Queensland Government will partner with Mater Health Services to deliver a new 174-bed public hospital in Springfield to cater for Our economic success depends on our ability to protect the health and wellbeing the rapidly growing population in the Greater Ipswich region. The of Queenslanders. expanded hospital, including an Emergency Department, Intensive Care Unit and Maternity services, is expected to open in 2024. CONTINUING Our eff ective health response underpins the current economic OUR RECOVERY recovery. The capacity and Refl ecting our commitment to safeguarding the health of Queenslanders, health resilience of our health system operating funding has increased by more than 13 per cent over 2 years – from is the key to maintaining $18.455 billion in 2019–20 to $20.885 billion in 2021–22. Queensland’s strong economic performance into the future. We will remain pandemic-ready and build our strong health and community support systems through the delivery of a range of ongoing initiatives and new measures in By safeguarding the health of the 2021–22 Budget. Queenslanders and limiting the spread of the virus, we were able to ease emergency Hospital health restrictions earlier than Building $2 billion to assist in meeting growth pressures expected, and Queensland’s across the health system. domestic economy has recovered Fund more rapidly than most other economies across the world. $480 million to continue the COVID-19 We will now leverage our success response, including the vaccination program, in managing the pandemic fever clinics, contact tracing and testing capability, to increase job opportunities COVID-19 response compliance activities, facilitation of quarantine in and maintain our capacity to government-arranged accommodation, COVID-19 safeguard the health of all contact centres, and wellness checks for people in Queenslanders. mandatory hotel quarantine. $482.5 million to address pressures in emergency patient flow through our public More hospital hospitals, elective surgery waitlists, and to capacity support the opening of the Nambour General Hospital Redevelopment. Support for $30 million over 4 years to boost support vulnerable services for victims of domestic, family and sexual OUR KEY SUPPORT SO FAR violence across the state. Queenslanders Throughout the COVID-19 crisis, the This includes a $46.55 million Mental • $100 million to support the wellbeing government’s priority has been – and Health and Wellbeing Community of Queensland school students, continues to be – safeguarding the package to support localised mental including employing an additional health of all Queenslanders and building health services. 464 wellbeing professionals in state schools. Queensland Health community resilience. • $979 million for the Building Better We are protecting Queenslanders from Hospitals program, increasing capacity • $61.9 million to deliver the Shifting employs more than COVID-19 and keeping Queensland in areas of major population growth. Minds Flagship, supporting suicide prevention and crisis services. 51,000 nurses, doctors pandemic-ready. • $265 million for the Satellite • $1.3 billion COVID-19 response Hospitals program across South East and ambulance offi cers, package to expand fever clinics, Queensland. increase hospital capacity, establish an increase of over 1,500 contact tracing and testing capability, since March 2020. and deliver the COVID-19 vaccination program. 6 JUNE 2021 NEW PUBLIC HOSPITAL FOR SPRINGFIELD Through a $1 billion investment over the next decade, the Queensland Government will partner with Mater Health Services to deliver a new 174-bed public hospital in Springfield
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