QUEENSLAND BUDGET 2016: WHAT WE KNOW
- Single-zone public transport trips in southeast Queensland to be cut from $3.35 to $3.20, while "nine and free" scheme will be scrapped and replaced with 50 per cent discounts after eight trips.
- $3 billion revenue write-down over four years, due to mining downturn
- First home owner grant to be raised to $20,000, up from $15,000, for homes valued less than $750,000
- A new stamp duty surcharge of 3% on foreign buyers
- $42m to clean up old mines
- $44.1 million to upgrade the RG Tanna Coal Terminal in Gladstone
- Tourism a big winner with $33.5m carrot
- $40 million Industry Attraction Fund to lure interstate businesses
- $32 million for 700 new and replacement police vehicles
- $25.3 million over five years to attract international students
- $1.5 million over three years for new trade offices in China and Singapore
THE Palaszczuk Government has vowed to roll out hundreds of millions of dollars in regional Queensland, particularly those areas suffering from the mining downturn.
Treasurer Curtis Pitt says his second state budget, to be handed down at 2.30pm today, will include a surplus and new infrastructure funding, despite the loss of billions of dollars worth of forecast revenue and no new taxes.
The government will raid the public servants' superannuation fund, saying there is more than $10 billion in the fund than currently needed to meet its commitments.
The move has been slammed by former Treasurer Tim Nicholls and some economic experts who say it is borrowing from the future to pay for today.
Premier Annastacia Palaszczuk said the Government was focusing on innovation and infrastructure.
The Government has also set aside $225 million for its Advance Queensland fund, Townsville stadium will get an extra $40 million and $5,000 will be added to the new homebuyers grant for 12 months.
Chamber of Commerce and Industry Queensland spokesman Nick Behrens said the business community wanted to see a budget that delivered a surplus and had spending under control.
Update your news preferences and get the latest news delivered to your inbox.