QUEENSLAND BUDGET 2020-21 BUDGET HIGHLIGHTS ,. Queensland budget.qld.gov.au Government Queensland Budget 2020–21 1 MESSAGE FROM BUDGET 2020–21 QUEENSLAND’S THE TREASURER ♦ AT A GLANCE ECONOMIC RECOVERY The Honourable Cameron Dick MP Jobs supported by Globally, almost 1.5 million people have died from COVID-19. In Queensland infrastructure hard-working health professionals, frontline agencies – and crucially investment in 2020–21 46,000 Queenslanders following medical advice – have seen the state manage the health impacts exceptionally well. However, COVID-19 will impact the Total infrastructure economy long into the future. program over four years $56B The 2020–21 Budget continues to REBOUNDING FROM deliver measures for the ongoing health Percentage of capital COVID-19 IMPACTS response to COVID-19 and also supports FOCUSING ON This Budget is focused on spend outside of the economic recovery outlined in the The coronavirus (COVID-19) pandemic CORE TASKS Greater Brisbane Queensland Government’s Unite and delivering our promises made to 58% has delivered an unprecedented Recover Economic Recovery Plan. shock to the global economy, leading the people of Queensland. Unite and Recover highlighted a package To support Queensland’s COVID-19 Total spend on to substantial business closures, job losses and declines in economic of more than $7 billion to safeguard economic recovery, the government Before, and during, the 2020 State Election campaign road and transport activity, industrial production and trade our health and protect jobs, including is implementing a savings and debt we made more than 1,000 commitments. The hard infrastructure in across the world. The data indicate that reducing business costs through payroll plan to deliver savings of $3 billion work in delivering those commitments starts with $6.3B economic outcomes are more favourable tax reductions and other tax relief over four years to 2023–24. this Budget. 2020–21 where health outcomes are better. measures, and accelerating projects To date, we have achieved It follows the path clearly outlined in our COVID-19 to unlock development and increase The pandemic and related restrictions 47 per cent or $352.2 million of Fiscal and Economic Review and in the Palaszczuk economic activity. COVID-19 economic led to a record 5.9 per cent fall our savings target for 2020–21 Government’s Economic Recovery Plan which focused stimulus measures in domestic economic activity in Building on this support, the government through a range of measures. on protecting our health; creating jobs; and working to date Queensland in the June quarter of has committed a significant package of Savings will continue to be together. $7B 2020. However, this result is relatively election commitments totalling achieved by focusing on core The efforts of Queenslanders in containing the health favourable compared with the 7.4 per $4.3 billion over four years. tasks, ensuring government resources are directed to where impacts of the COVID-19 pandemic have seen the State cent fall in national domestic activity. This Budget is focused on getting recover faster economically than others and this Budget they are needed most. Education and Importantly, Queensland’s success in our economy moving sooner. Priorities outlines the continued steps we will be taking on that training in 2020–21 containing the spread of the virus means include: Six workstreams have been recovery. $17.5B the June quarter is now expected to be the established to progress savings creating jobs This Budget will deliver on the Palaszczuk Labor lowest point in the COVID-19 economic opportunities under the plan, backing small businesses to support Government’s clearly defined priorities: safeguarding cycle, rather than the September quarter with a focus on government jobs and communities across the state Queenslanders’ health; supporting jobs; backing small as previously anticipated. The substantial advertising, accommodation, business; Making it for Queensland by supporting Health in 2020–21 and ongoing relaxation of restrictions, as increasing investment in data and ICT, workforce, structural Queensland manufacturers; building Queensland’s well as the income support and stimulus manufacturing including $1 billion to reform opportunities and agency $21.8B functional reviews. infrastructure; growing our regions; investing in skills; provided across all levels of government, make trains in Queensland again backing frontline services; and protecting our precious drove a strong rebound in domestic driving the largest infrastructure The plan reinforces the need to environment. activity in the September quarter. sustain effective frontline services Concessions program in over a decade of More than anything else, this Budget has a single Domestic and external conditions have $14.8 billion in 2020–21 by limiting secondments of and lowering the frontline workers to back-office overarching objective – creating more Queensland jobs. continued to evolve since the COVID-19 growing our regions and supporting cost of living roles and creating opportunities $6.3B Fiscal and Economic Review (C19-FER) key industries including tourism, 2020 has been a testing time for workers, families and for tasks to be reallocated to businesses and this Budget outlines the Government’s released in September but currently agriculture and mining appear to be on different trajectories. frontline roles. latest investments and initiatives as we continue to protecting the environment Unite and Recover. Building trains in Many indicators of Queensland’s The plan also strengthens providing more Queenslanders with oversight of non-frontline Queensland over domestic economy have continued to access to the skills and training they 10 years improve, but the resurgence of COVID-19 recruitment, a natural reduction $1B need for careers of senior executive service cases globally, weaker trading partner growth, and increasing trade and enhancing frontline services roles and greater utilisation of existing government buildings to geopolitical tensions mean the delivering lower debt than New South Social housing encourage public servants to work Cameron Dick MP global outlook has weakened further Wales and Victoria. improvements and remains the key risk to the closer to home. Treasurer in 2020–21 $526.2M State’s economic outlook. Minister for Investment 2 budget.qld.gov.au MESSAGE FROM BUDGET 2020–21 QUEENSLAND’S THE TREASURER AT A GLANCE ECONOMIC RECOVERY The Honourable Cameron Dick MP Jobs supported by Globally, almost 1.5 million people have died from COVID-19. In Queensland infrastructure hard-working health professionals, frontline agencies – and crucially investment in 2020–21 46,000 Queenslanders following medical advice – have seen the state manage the health impacts exceptionally well. However, COVID-19 will impact the Total infrastructure economy long into the future. program over four years $56B The 2020–21 Budget continues to REBOUNDING FROM deliver measures for the ongoing health Percentage of capital COVID-19 IMPACTS response to COVID-19 and also supports FOCUSING ON This Budget is focused on spend outside of the economic recovery outlined in the The coronavirus (COVID-19) pandemic CORE TASKS Greater Brisbane Queensland Government’s Unite and delivering our promises made to 58% has delivered an unprecedented Recover Economic Recovery Plan. shock to the global economy, leading the people of Queensland. Unite and Recover highlighted a package To support Queensland’s COVID-19 Total spend on to substantial business closures, job losses and declines in economic of more than $7 billion to safeguard economic recovery, the government Before, and during, the 2020 State Election campaign road and transport activity, industrial production and trade our health and protect jobs, including is implementing a savings and debt we made more than 1,000 commitments. The hard infrastructure in across the world. The data indicate that reducing business costs through payroll plan to deliver savings of $3 billion work in delivering those commitments starts with $6.3B economic outcomes are more favourable tax reductions and other tax relief over four years to 2023–24. this Budget. 2020–21 where health outcomes are better. measures, and accelerating projects To date, we have achieved It follows the path clearly outlined in our COVID-19 to unlock development and increase The pandemic and related restrictions 47 per cent or $352.2 million of Fiscal and Economic Review and in the Palaszczuk economic activity. COVID-19 economic led to a record 5.9 per cent fall our savings target for 2020–21 Government’s Economic Recovery Plan which focused stimulus measures in domestic economic activity in Building on this support, the government through a range of measures. on protecting our health; creating jobs; and working to date Queensland in the June quarter of has committed a significant package of Savings will continue to be together. $7B 2020. However, this result is relatively election commitments totalling achieved by focusing on core The efforts of Queenslanders in containing the health favourable compared with the 7.4 per $4.3 billion over four years. tasks, ensuring government resources are directed to where impacts of the COVID-19 pandemic have seen the State cent fall in national domestic activity. This Budget is focused on getting recover faster economically than others and this Budget they are needed most. Education and Importantly, Queensland’s success in our economy moving sooner. Priorities