The Queensland Government’s controversial coal royalty system has contributed to an enormous $12.3 billion in revenue and a record surplus, giving the State’s budget the vitality it needs to tackle a range of cost of living issues.
Delivering his fourth budget to parliament, Queensland Treasurer Cameron Dick announced an $8.2 billion cost of living relief program, including $550 electricity rebates for households (more for vulnerable households); $650 electricity rebates for small businesses; as well as an additional investment of $645 million over four years for free kindergarten for all four-year-olds.
The Government also plans to inject $322 million into the housing market to build 500 social homes, in an effort to ease the housing crisis. This year’s surplus is the largest ever recorded across Australian states and territories.
“We can deliver our state’s biggest cost-of-living program, our state’s biggest building program and deliver lower debt for one simple reason: progressive coal royalties,” the Treasurer said.
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