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Every Queensland household will have power bills slashed by $550 and some vulnerable residents will receive even more as part of $1.6 billion in new cost-of-living relief in the state budget.
Key points:
- Rebates on power bills and free kindy across the board are featured measures in the 2023-24 Queensland budget
- Treasurer Cameron Dick says the cost-of-living relief is fuelled by record coal royalties
- Queensland is set to achieve a $12.3 billion surplus this financial year before falling into a $2.18 billion deficit in 2023-24
About 2.2 million households will receive an electricity rebate of $550, while 600,000 concession holders will get a higher rebate of $700 in addition to an existing $372 power discount.
The state government said the combined rebates and relief for some concession holders would see them receive a total of $1,072 over the next financial year.
About 205,000 eligible small businesses will also receive automatic rebate of $650 on their power bill.
In handing down his fourth state budget, Treasurer Cameron Dick said it would be the biggest spend in the country to ease hip-pocket pain and would not exacerbate inflation.
"For all those Queenslanders facing cost-of-living pressures I have a simple message: help is on the way," he said.
"In this budget, our government will deliver greater and more widespread cost-of-living relief than any other government in Australia, state or federal."
The state rebates build on the $500 power bill discount for some eligible Queenslanders announced in the federal government's budget in May.
Kindergarten will also be free in Queensland from next year as part of a $645 million investment over four years to fund 15 hours a week of kindy for four-year-olds.
Overall the state government will spend $8.2 billion on concessions in the coming financial year which has been largely funded by a coal royalty windfall of $15.29 billion in 2022-23.
The surge has come from the new progressive coal royalty rates introduced by Mr Dick in the last state budget, which has been met with strong opposition from the mining sector.
In December, Treasury's mid-year budget update forecast total coal royalties would reach $10.698 billion for 2022-23, but continued record prices have resulted in a more than $5 billion uplift.
"Our decision to take on the mining lobby, to stand our ground, and to fight for the people of our state has delivered a rich reward for Queenslanders," Mr Dick said.
"Those coal companies will earn four times as much in revenue as Queenslanders make in royalties."
Queensland is also set to achieve a surplus of $12.3 billion this financial year before plunging into a forecast $2.18 billion deficit in 2023-24.
Mr Dick said the record surplus would be used to pay down net debt, which was $19.77 billion last financial year and will be reduced to a forecast $5.85 billion.
"This is the largest budget surplus ever recorded by any state or territory," he said.
"Our budget surplus is larger than all but four surpluses delivered by the government of the Commonwealth of Australia, all more than 15 years ago.
"Because of that surplus, we will finish the forward estimates with lower net debt than previously forecast by Queensland Treasury."
More funding for paramedics, ambulances
The state's health budget will total $25.8 billion for 2023-24, which will include the delivery of a $9.8 bullion hospital construction program and building or expanding hospitals in the south-east and regions.
It includes $764 million to tackle ambulance ramping and healthcare pressures with $72 million being spent on 200 additional paramedics, $28 million for new and replacement ambulances and $22 million for a cost-of-living allowance for nursing and midwifery students.
About $446.4 million will be spent over five years to support youth justice initiatives like $96 million for youth co-responder teams that engage with young people.
To address capacity issues at youth detention centres and support the early work for two new youth detention centres $89 million will be invested over three years.
An extra $1.1 billion will go towards the social and affordable housing sector which will help the state meet the higher costs of construction to deliver its housing building program.
An additional $322 million has been set aside to build 500 more social homes in the state, building on the $3.9 billion that has already been invested in an attempt to stave off the housing crisis.