Queensland budget looks to reduce deficit

The Queensland Government’s budget for 2021/22 has projected a smaller than expected deficit with a focus on health, education and improving business confidence.

Anticipating a budget deficit of $3.8 billion this year, improving to $3.4 billion next year and projected to return to a small surplus of $153 million in 2024/25, Queensland Treasurer Cameron Dick yesterday also announced a $140 million commitment on helping small businesses innovate and access new markets.

Tourism
Treasurer Dick’s budget also delivers $15 million specifically targeting the tourism sector for 2021/22, aimed at creating sustainable jobs and helping the struggling sector recover from the ongoing impact of the COVID-19 pandemic.

Another $9.9 million will be spent on improving the 94-kilometre Wangetti Trail from Palm Cove to Port Douglas while $10 million is being invested over two years to start rebuilding aviation connectivity as part of the state’s Economic Recovery Plan.

In addition, from 1st July, the Work in Paradise program will offer cash incentives to workers to take up jobs with regional tourism operators from Mackay to the Far North and the Outback, west of Toowoomba.

Queensland Tourism Industry Council Chief Executive, Daniel Gschwind welcomed the budget's focus on improving skills in the workforce and said he would lobby to ensure his sector received its share.

Gschwind advised “our industry with its small businesses must be part of the recovery, so that support is definitely welcome.

"Overall, we welcome the budget. We will work with the government to make sure the enormous investment in skills and small business goes towards our industry as well."

Sport
Also delivered in the budget is $29.3 million over the next two years to support preparations for a future Olympics should Queensland secure the 2032 Olympic and Paralympic Games.

Sport will also benefit from more than $144 million in election commitments including new sporting facilities, equipment, and programs.

Queensland Tourism, Innovation and Sport Minister, Stirling Hinchliffe commented “this includes $15 million for the redevelopment of Ballymore and $10 million for Great Barrier Reef Arena Development Project at Harrup Park in Mackay.

“Our investment follows a $51.3 million sport and recreation COVIDSafe Restart Plan to help clubs recover from COVID and the joint $8 million, 2020 AFL Grand Final Legacy fund now delivering new facilities across Queensland with a focus on getting more females involved in the game.

Environment
Environmental measures include $270.1 million allocated over five years for a Queensland Reef Water Quality program in a bid to improve water quality in the Great Barrier Reef.

Funds from a new $500 million Carbon Reduction Investment Fund will be used to support the existing Land Restoration Fund to support private investment and support financially sustainable carbon markets.

The budget is also establishing a $2 billion Queensland Renewable Energy and Hydrogen Jobs Fund to help government-owned corporations increase ownership of renewable energy and hydrogen projects.

Arts
The budget also provides more than $90 million to help drive economic recovery and create jobs.

Queensland Minister for the Arts Leeanne Enoch said the Palaszczuk Government was continuing to invest in the state’s live music industry, cultural tourism, regional arts delivery and infrastructure, advising “this significant investment in the arts will ensure Queensland emerges with strength to build back better than ever before, with a recovery that is fuelled by creativity and story-telling

“We have amped up investment to Queensland’s live music industry, which we know has been impacted by the pandemic, with an extra $7 million in 2021/22.

“This funding will ensure the live music sector can continue to support Queensland talent and help to connect artists, audiences and communities across the state.”

Arts budget highlights include:

• $7 million in 2021/22 for to support the sustainability of the state’s live music venues

• $9 million over three years from 2021/22 to enable the Queensland Museum Network to continue to host the World Science Festival

• $6 million over three years from 2022/23 for blockbuster funding to enable Queensland Art Gallery/Gallery of Modern Art to attract exclusive exhibitions to Queensland

• $6 million over four years from 2021/22 to support regional arts delivery across Queensland through the Regional Arts Services Network

• $36.1 million over four years from 2021/22 to address critical infrastructure renewal, and maintenance to ensure the continued preservation of the heritage-listed Queensland Cultural Centre (QCC), and a further $3.4 million in 2021/22 for essential upgrades across the QCC

• $9.1 million over four years from 2021/21 for critical maintenance activities for the Queensland Museum Network

• $13.125 million over four years from 2021/22 for the Arts Infrastructure Investment Fund to support priority infrastructure and revitalise existing state-owned arts and cultural facilities

Image: Far North Queensland's Wangetti Trail (top) and the concept for the redevelopment of Ballymore (below).