The Treasurer has handed down his fifth budget, setting the stage for the Queensland state election. Cameron Dick says he's made tough choices, deliberately putting the state's books into a $2.6 billion deficit next financial year to provide cost of living relief for Queenslanders.
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00:00The Premier striding towards the state election, with a big spending budget offering something
00:08for everyone.
00:09I said I would listen to Queenslanders every day and deliver for them and that's what this
00:14budget does.
00:15A record $11.2 billion will be spent on concessions next financial year, with $3.7 billion of
00:23that on new and expanded cost of living relief.
00:27To deliver the pre-election sweeteners, the Treasurer will plunge the state's books into
00:32the red.
00:33We make no apology for going into deficit.
00:37The state will end the financial year with a $564 million surplus before going into back-to-back
00:44deficits.
00:45The coffers will return to surplus in 2026-27.
00:50Fees and charges will be frozen at a cost of $180 million.
00:55It's the latest hit pocket relief measure following the announcement of a trial of 50
01:00cent public transport fares, cheaper car rego and changes to stamp duty for first home buyers.
01:07Teagan and Matt Jarrett have a young daughter and just bought their first home on the Gold
01:12Coast.
01:13They've welcomed the concessions.
01:15When those bills do come around and there's that reduction, it's going to be extremely
01:19helpful where we can put funds into other things.
01:22While others feel the budget has fallen short.
01:25The biggest pressure on household budgets right now is increasing costs of rent.
01:31An extra two million people will call South East Queensland home over the next two decades.
01:36We need to see a long-term plan.
01:38This budget does not address the needs or the concerns of the Queensland business community.
01:44The state is heading towards $172 billion in total debt by 2027-28, which will attract
01:52billions of dollars in interest repayments.
01:56To curb spending, a savings plan will seek to claw back $3 billion over four years across
02:02government.
02:03While I can give this assurance, we will not be cutting one job as a consequence.
02:09The state is expected to pocket $10.5 billion from coal royalties, over a billion dollars
02:15more than previously forecast.
02:17The state opposition says it will support the budget, but is critical of projects like
02:23the proposed Pioneer Burdekin pumped hydro scheme.
02:26The Treasurer, Cameron Dick, has just said that's fully funded, fully costed.
02:31It's not.
02:32The election is now four and a half months away.
02:35By that time, Labor will have been in office for almost nine years.
02:40But the Treasurer has made an extraordinary appeal to voters, asking them to ignore Labor's
02:46past record.
02:48The election on the 26th of October is a fight about the future of Queensland.
02:52It's not a referendum on the last nine years.
02:55It's about two competing visions for our state.
02:59The opposition gets a chance to outline its vision in a budget reply speech on Thursday.