QUEENSLAND BUDGET 2021–22 BUDGET Highlights budget.qld.gov.au MESSAGE FROM BUDGET 2021–22 THE TREASURER AT A GLANCE The Honourable Cameron Dick MP Jobs recovered since May 2020 253,200 Queensland Jobs Fund $3.34B Queensland’s economic Total infrastructure recovery from COVID-19 is well program, over 4 years $52.2B underway, reflecting our success in containing the virus and the strength of our government’s Percentage of capital spend outside of Economic Recovery Plan. Greater Brisbane 61.2% Our domestic economy has grown faster than the rest of Australia. Queensland has recovered more jobs than any other state or territory. And we are outperforming the nation on a range of household and business indicators. Health in 2021–22 It is no surprise that more Australians are flocking to $22.2B Queensland. Our state received , net interstate migrants in , and we are expecting another , Australians – the equivalent of a city the size of Rockhampton – to call Queensland home over the next years. Meaning our growing state will need more and Education and better roads, schools, hospitals and support programs. training in 2021–22 $18.3B The – Budget continues to deliver the high- quality frontline services and infrastructure that all Queenslanders, new and old, have come to expect. The Budget also delivers on our government’s election commitments. COVID-19 economic support initiatives, Queensland’s nation-leading economic recovery has more than $14.2B strengthened the government’s fiscal position, with revenues higher and borrowings lower than previously forecast. Our judicious management of expenses means that our government is projected to record Concessions and an operating surplus in –. lowering the cost This is a Budget for all Queenslanders. of living $6.1B Social housing and Cameron Dick MP homelessness Treasurer investment, over 4 years $1.9B Minister for Investment 2 budget.qld.gov.au QUEENSLAND'S MESSAGE FROM BUDGET 2021–22 ECONOMIC RECOVERY THE TREASURER AT A GLANCE COVID-19 continues to devastate families and cripple national The Honourable Cameron Dick MP economies worldwide as death and infection rates rise daily. Jobs recovered However, Queensland’s outstanding health response to since May 2020 253,200 the pandemic and more than $14.2 billion in support initiatives have seen our economy rebound strongly. Queensland Jobs Fund $3.34B ECONOMIC RECOVERY needed to drive ongoing growth, Economy rebounds: and provide wider economic and LEADING THE NATION employment benefits. Total infrastructure Queensland’s economic debt down, jobs up Queensland’s success in managing Other key initiatives in the Queensland program, over 4 years recovery from COVID-19 is well $52.2B Queensland’s General Government the health challenges imposed by the Budget 2021–22 include targeted net debt is expected to improve COVID-19 pandemic means the state’s measures that: underway, reflecting our success significantly as the state’s $360 billion economy has begun to • build Queensland’s productive in containing the virus and the economy continues to recover recover sooner and is stronger than the capacity by delivering productive from the COVID- pandemic. rest of Australia. strength of our government’s Percentage of capital infrastructure, skills and innovation spend outside of Net debt in – is expected Record health investment of • promote economic and environmental Economic Recovery Plan. Greater Brisbane 61.2% to be $9.69 billion lower than $22.2 billion will continue to provide sustainability forecast in the – Budget. a world-class health system, which is • improve business competitiveness Our domestic economy has grown faster than the rest of also critical to effectively manage the Australia. Queensland has recovered more jobs than any This is driven by a combination of ongoing risks of COVID-19. • ensure a responsive public sector. other state or territory. And we are outperforming the higher revenue, lower expenses As of April 2021, total employment in These measures will enable Queensland nation on a range of household and business indicators. – including savings identified in Health in 2021–22 the Savings and Debt Plan – and Queensland is now 54,900 persons to continue to compete in national and It is no surprise that more Australians are flocking to $22.2B a material increase in the value higher than its pre-COVID level, and international markets, by attracting Queensland. Our state received , net interstate of investments held in the newly 253,200 higher than in the depths of the investment and exporting Queensland’s migrants in , and we are expecting another established Queensland Future pandemic in May 2020. However, some valuable goods and services. , Australians – the equivalent of a city the size of key industries and regions continue Fund (Debt Retirement Fund). The government’s $52.2 billion capital Rockhampton – to call Queensland home over the next to be impacted due to the closure of program over the forward estimates will years. Meaning our growing state will need more and Education and Created with the sole purpose of international borders. debt reduction, the Fund will hold help create many thousands of ongoing better roads, schools, hospitals and support programs. training in 2021–22 investments targeted for future The Queensland Government’s Economic jobs, including an estimated 46,500 $18.3B Recovery Plan continues to support The – Budget continues to deliver the high- growth to support current and direct jobs in 2021–22. Over the 10 quality frontline services and infrastructure that all future borrowings. businesses, workers, families and years to 2024–25, the government will Queenslanders, new and old, have come to expect. communities across the state. have supported over $110 billion in Assets contributed or being The Budget also delivers on our government’s Further, the government’s economic infrastructure works. COVID-19 economic contributed to the Fund in election commitments. response and policy focus will also The Budget also commits support initiatives, – include: $460 million continue to transition over time, from Queensland’s nation-leading economic recovery has more than toward targeted investments in flagship $14.2B • $6 billion in seed funding from shorter-term support to a greater focus skills and training and employment strengthened the government’s fiscal position, with revenues higher and borrowings lower than previously the transfer of the Queensland on improving the state’s productivity and programs, Skilling Queenslanders forecast. Our judicious management of expenses Titles Registry operations competitiveness to drive ongoing private for Work and a revitalised Back to means that our government is projected to record sector growth and jobs. Work program. Concessions and • $1.5 billion from the surplus an operating surplus in –. assets held to support the A key element of the government’s lowering the cost Targeted measures to support small Defined Benefit Scheme (DB efforts to drive private sector growth businesses and regional economies This is a Budget for all Queenslanders. of living $6.1B scheme surplus) and jobs is the new flagship investment are expected to create enduring • $206 million in securities initiative, the $3.34 billion Queensland benefits across the length and held by the state. Jobs Fund. breadth of the state. Social housing and The estimated value of the The Fund focuses on investment Building on the strong economic attraction and industry development, recovery to date, the government’s homelessness DRF at the end of – is Cameron Dick MP $7.7 billion and the Fund will ensuring that in a post-pandemic economic strategy will be founded on investment, over 4 years Treasurer $1.9B grow over the forward estimates global environment, Queensland is well protecting the health of Queenslanders, Minister for Investment as returns compound. positioned to attract the investment wherever they live. Queensland Budget 2021–22 3 INVESTING IN OUR HEALTH Our record health budget will ensure the state’s doctors, nurses and emergency response personnel $22.2B for health have the best facilities to continue to deliver in 2021–22 world-class health care. This Budget continues to deliver on frontline staffi ng commitments as well as addressing increased demands for medical services. VACCINATIONS A KEY TO RECOVERY KEEPING In 2021–22, Queensland Health will continue to invest across a broad The Queensland Government QUEENSLANDERS range of areas including hospitals, is working closely with private ambulance stations and vehicles, medical and health providers HEALTHY health technology, research and and the Australian Government The 2021–22 Budget provides a record scientific services, mental health to ensure sensible and practical $20.885 billion in operating funding, as services, staff accommodation and ICT. vaccination strategies are in place to best protect the community. well as a $1.35 billion capital program Hospital and health facility project to continue to deliver first-class health highlights in 2021–22 include: The COVID- vaccine national services to Queenslanders. roll-out strategy recognises • $103.5 million for the Caboolture priority populations for Funding supports the state’s public Hospital redevelopment to support vaccination as well as the hospital and ambulance services an additional 130 beds and need to adapt to Queensland’s and facilities, community health refurbishment of critical clinical decentralised and diverse services, mental health, drug and support services alcohol services,