QLD State Budget 2022 – 2023

QLD State Government Budget Page

Message from the Treasurer

Queensland’s economic strength and success gives us the opportunity to invest in the things that matter to all Queenslanders – tackling the cost of living, and delivering improved services in health, housing, and community safety.

These investments will be supported by the biggest infrastructure build ever undertaken by a Queensland Government, including significant investment in new energy infrastructure.

Even with these commitments, state debt will significantly reduce from previous forecasts.

Our better-than-expected royalties, which have been driven by exceptionally high prices, have created an opportunity to invest in initiatives to benefit each and every Queenslander. The Budget funds the expansion of hospitals, with a significant 9.6 per cent increase in health spending. It will deliver more social and affordable housing, and will fund renewable energy infrastructure. The Budget will secure land for future school sites, and we will fund free kindy for our youngest Queenslanders.

Unlike other states, Queensland’s Big Build begins with a major reduction in debt, supported by a $12.3 billion surplus in 2022–23 – the biggest on record. This surplus, supported by coal royalties, will flow through to debt reduction.

These fiscal settings, record investments, and unparalleled cost-of-living relief will continue to give confidence to Queensland businesses and families that our state has a strong and bright future.

The Hon. Cameron Dick MP