Treasurer Cameron Dick has called this year’s Queensland budget “the best yet,” with a major focus on health spending.
Winner: Hospitals
Health
The government has allocated $ 23.6 billion to the state health system for the period 2022-23, which represents a 5.6 percent increase in health spending from the previous year.
There is also a long-term plan to expand hospital services.
This includes a commitment to hire 9,475 new front-line hospital staff during the current term of government (October 2024).
These will include nurses, doctors and paramedics.
There is $ 1.1 billion earmarked for Queensland’s ambulance service, 11% more than last year’s budget.
Over the next six years, $ 9,785 million will be spent on creating an additional 2,509 beds in expansion programs at new and existing hospitals to meet the growing demand for the state’s growing population.
Three new hospitals will be built in Coomera, Toowoomba and Bundaberg, as well as a new Queensland Cancer Center in Brisbane.
Here’s where the extra hospital beds will go:
- 118 in a new Toowoomba hospital in late 2027
- 404 at a new Coomera hospital in late 2027
- 121 in a new Bundaberg hospital in late 2027
- 204 at Redcliffe Hospital in late 2028
- 91 in a new cancer in Queensland in early 2028
- 200 at Ipswich Hospital by the end of 2027
- 112 at Logan Hospital in late 2026
- 143 at Townsville Hospital in late 2026
- 112 at Brisbane QEII Hospital in late 2027
- 249 at Princess Alexandra Hospital in Brisbane in late 2026
- 93 at Prince Charles Hospital in Brisbane in late 2027
- 96 at Cairns Hospital in early 2026
- 128 at Mackay Hospital in late 2026
- 35 at Hervey Bay Hospital in late 2024
- 114 at Robina Hospital (for rent) by the end of 2024
Another 289 previously announced hospital beds will be delivered by the end of 2024 as part of an accelerated infrastructure delivery program.
Winner: Mental health
In what the treasurer has dubbed the “largest investment in mental health ever,” $ 1.640 billion will be spent over five years to improve mental health and well-being, and combat substance abuse and suicide.
Health Minister Yvette D’Ath said this would fund community care and crisis support, and more mental health workers.
“In addition, the Queensland Ambulance Service will commission four additional mental health response services in the Darling Downs, Mackay, Wide Bay and Sunshine Coast areas,” Ms D’Ath said.
Loser: Coal exporters
With rising coal prices over the past 12 months, Treasurer Cameron Dick says it’s fair for Queenslanders to take a bigger share of this pie.
Copyright and Queensland land rents increased by $ 5.94 billion in 2021-22.
The state government will introduce copyright levels starting July 1, when a 10-year copyright freeze will end.
This will work in the same way as the tax system, meaning that coal exporters pay a higher percentage of royalties as prices rise.
“With coal being recently quoted at over $ 500 per tonne, our current tariff structure is no longer suitable for its purpose,” Dick said.
The current 15% gift rate will increase to:
- 20 percent for prices above $ 175 per ton
- 30 percent for prices above $ 225 per ton
- 40 percent for prices above $ 300 per ton
This will be applied progressively, like the tax, with higher percentages applying only to the price part of each of these levels.
“For example, if coal prices are $ 302 per tonne, a very high price by the usual standards, the 40 per cent level will only apply to the $ 2 part,” the treasurer said.
Neutral: cost of living
Queensland residents will automatically receive a $ 175 discount on the cost of living on their next electricity bill.
That costs $ 385 million.
But the price of electricity is expected to rise in the medium to long term, which means that subsequent electricity bills are likely to be higher for many Queenslanders.
This adds to the pressures on the cost of living, as rising inflation raises the cost of rent, food and petrol.
Loser: Tourism
Tourism
This year’s budget commits “up to $ 66.4 million” over four years to support tourism recovery and growth initiatives.
The state government previously provided more than $ 1 billion to support tourism and hospitality during the pandemic.
This year’s budget documents cite data from Tourism Research Australia, which indicates that domestic tourism in Queensland had recovered to pre-pandemic levels.
But the number of international visitors is still a long way from returning to normal.
After years of success due to the COVID-19 pandemic, this spending commitment is far from what many tour operators hoped would be a further help from the government.
Winner: Small business
More than 12,000 small and medium-sized businesses in Queensland with payrolls of up to $ 10.4 million will receive a payroll tax cut.
“This will provide profits of up to $ 26,000 a year for more than 12,000 small and medium-sized businesses,” the treasurer said.
Loser: big business
Companies with an annual payroll of more than $ 10 million will pay a rate of 2.5 cents for every $ 10 of taxable wages they pay in excess of $ 10 million.
Large companies with payrolls of more than $ 100 million, such as supermarkets, will pay 5 cents for every $ 10 of taxable wages they pay in excess of $ 100 million.
Proceeds from this tax will fund what the Treasurer calls the state’s “largest” investment in mental health (see above).
The Treasury estimates that this will affect the top 1%, or less than 6,000 Queensland businesses, including 850 with payrolls of more than $ 100 million.
Neutral: Social housing
Social housing
There is no substantial increase in last year’s budget commitment to deliver 7,400 new social housing properties by 2025.
Earlier this month, the Department of Housing confirmed that only 326 new social housing units had been built this year, a significant slowdown in the construction of public housing due to labor and labor shortages. supply in the construction sector.
These issues are not a quick fix and will put a lot of pressure on the Queensland Housing and Homelessness Action Plan to be implemented over the next three years.
This budget commits $ 200 million to fund the delivery of water and sewer infrastructure so that more lots of residential buildings can be unlocked.
Winner: final budget
Last year’s budget projected a budget deficit for the period 2021-22.
This has been revised to a net surplus of $ 1.9 billion, largely due to an increase in revenues from coal and oil royalties, as well as an unexpected collection of transfer fees as a result of the housing boom.
Overall, state revenues have risen just over $ 10 billion, or 15.9 percent, in 2020-21.
But good times are not expected to continue, with coal prices expected to fall towards their long-term average and housing activity is expected to “normalize”.
In short, this means that revenue is only expected to increase by 1.6% next year and then decrease by 3.2% in 2023-24.
Copyright and land rents are projected to decline by 14.3% in 2022-23. Interestingly, much of the revenue growth is expected to come from an increase in GST revenue due to national economic growth and Queensland will receive a larger share of the GST group.
The treasurer says Queensland’s net debt is expected to reach $ 39.2 billion in 2025-26, about half of what was projected two years ago.
He attributes this to the increase in the net worth of government-owned corporations.
Neutral: Education
Education
The government has pledged $ 19.6 billion in education in fiscal year 2022-23.
Investment in the Building Future Schools program amounts to $ 3 billion and includes $ 390 million to build five new schools:
- Caboolture West
- South Caloundra
- Ripley
- Cobblestone
- Bahrs scrub
There is $ 742 million to expand and upgrade existing school infrastructure and $ 20 million to improve schoolyards and playgrounds.
Loser: Gambling companies
A 15 percent tax on all bets placed by bettors (introduced in 2018) is being increased with an additional 5 percent race tax.
This is paid for by the gambling companies themselves, not the gamblers.
Racing Levy is expected to raise about $ 50 million in revenue a year.
In addition, these two taxes will be applied, for the first time, to bonus bets. This aligns Queensland with betting taxes in all other Australian jurisdictions except Tasmania.
The bonus betting tax is expected to provide an additional $ 30 million a year.
All of that $ 80 million in new gambling revenue will go to the Queensland racing industry.