“If we have to borrow to deliver our cost-of-living measures then that is what we will do,” Queensland’s Treasurer says.
Queensland has forecast a $3 billion budget blowout as a result of the cost-of-living relief the state government is delivering.
The budget blowout comes amid major state government spending on cost-of-living measures, housing and health. The government managed to deliver a $4.3 billion surplus in 2021-22 and a record $13.9 billion surplus in 2022-23.That was on the back of coal royalties supporting Queensland’s post-pandemic boom which had been forecast to boost revenue by $9.4 billion over five years.Dick revealed in April keeping the budget in balance would be “difficult” with state debt forecast to reach $188 billion in four years.
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