2024-25 Queensland State Budget Announcement

As the peak industry body representing the plumbing, drainage, and gas industry, MPAQ was invited to attend the budget announcement held yesterday, 11 June 2024. MPAQ Chief Executive Officer, Penny Cornah, was in attendance on behalf of the association.

The Queensland Premier Steven Miles MP addressed the audience briefly before handing over to the Deputy Premier and Treasurer the Hon Cameron Dick MP. The Treasurer highlighted the increase in the population, which is driving diversification of the Queensland economy to investments in critical social and economic infrastructure.

The Queensland Government’s transformational Big Build is continuing to deliver the infrastructure needed to support our growing state; it will create new industries, more jobs, better communities, and stronger regions. Priorities include decarbonising Queensland’s energy system, expanding health capacity, and getting ready for the Brisbane 2032 Olympics and Paralympics Games. The 4-year capital program is now a record $107.262 billion.

In 2024–25, the government’s $27.1 billion capital program will directly support around 72,000 jobs across the state, with 50,000 or 69 per cent of these jobs located outside of the Greater Brisbane region.

Key areas include:

Queensland Energy and Jobs Plan

The Queensland Government is powering ahead with energy transformation while driving emissions reduction across the sector and broader Queensland economy. Released in 2022, the Queensland Energy and Jobs Plan (QEJP) charts an infrastructure investment pathway to 2035 to deliver clean, reliable and affordable power.

Through the QEJP, Queensland’s energy government–owned corporations have a leading role in the state’s energy transformation – to build, own, and operate new renewable energy and storage while partnering with the private sector to deliver clean and reliable energy to customers across Queensland.

This includes new publicly owned investments, including:

• $16.5 billion for renewable energy and storage projects
• $8.5 billion for transmission infrastructure, including CopperString 2032, SuperGrid, and Renewable Energy Zone transmission works
• $500 million for distribution network storage, including Energy Queensland’s Local Network Battery Plan and Local Renewable Energy Zone Pilot Projects
• $192 million for Powerlink to develop Transmission and Training Hubs in Townsville and Gladstone.

Supporting the Regions

This Budget will invest $18.568 billion in capital projects outside of the Greater Brisbane region in 2024–25, supporting around 50,000 jobs. The $1.1 billion Works for Queensland program will continue to support local governments outside Southeast Queensland by funding job-creating maintenance and minor infrastructure projects relating to assets owned or controlled by local governments.

Key projects in rural and regional Queensland include delivery of health facilities under the Building Rural and Remote Health Program, building new regional school facilities, Domestic and Family Violence Courthouse improvements, replacement of the Bowen Wharf, raising and improving Burdekin Falls Dam, delivery of the Toowoomba to Warwick Pipeline project, and construction of the Fitzroy to Gladstone Pipeline.

Housing

Queenslanders are experiencing significant pressures associated with housing availability and affordability, underpinned by all-time-high housing demand surpassing supply. Record low interest rates, substantial government stimulus, and a decrease in the average household size during the pandemic, followed by an unexpected and record increase in the population, drove a surge in demand for housing in Queensland in recent years. However, construction activity has struggled to keep up with demand, significantly constrained by pandemic-related material and labour shortages, poor weather and flooding, and construction company insolvencies.

To meet this objective, the government launched its new whole-of-system housing plan, Homes for Queenslanders. As part of this plan, the government is making a $3.1 billion investment into housing and homelessness initiatives.

Small Businesses

The Queensland Small Business Strategy 2024 – 27 was released recently to ensure Queensland’s small businesses can continue to innovate, adapt, grow, and succeed. The following key priorities for Queensland small businesses were identified during extensive consultation with the sector:

• rising business costs
• finding and retaining skilled workers
• developing crucial business skills
• accessing procurement opportunities
• navigating government information.

Feedback has suggested that small businesses were overlooked in this year's state budget. Many Queensland residents know a small-business owner and are aware of the financial challenges they've faced, especially in the construction sector. The budget missed an opportunity to boost initiatives that promote business growth and efficiency, which would have been advantageous for all Queenslanders.

Other measures include:

• Fees and charges freeze on QBCC Licence renewals and licence application fees
• $1,300 electricity bill rebates for every household,
• six months of 50-cent fares for public transport,
• 12 months of reduced car registration for all motorists.

For more information please visit the Queensland Budget website below

Queensland Budget 2024-25