Queensland's economic recovery plan

Queensland's economic recovery plan

Queensland Budget 2020–21

The Queensland Budget 2020–21 is focused on delivering the Government’s promises made to the people of Queensland.

The budget follows the path clearly outlined in our COVID-19 Fiscal and Economic Review and in the Government’s Economic Recovery Plan which focused on protecting our health, creating jobs, and working together.

The efforts of Queenslanders in containing the health impacts of the COVID-19 pandemic have seen the state recover faster economically than others and this budget outlines the continued steps we will be taking on that recovery.

Since the COVID-19 pandemic first impacted Queensland, the government has taken a sensible and staged approach to economic recovery.

The Queensland economic recovery plan represents the culmination of that effort and lays the foundation for our longer-term recovery, with a strong focus on partnerships, to deliver the best possible outcomes.

The plan follows extensive consultation with business, industry, regional and community stakeholders and has a three-fold mission.

  • Protecting our health
  • Creating jobs
  • Working together

Underpinning the plan is more than $8 billion in recovery initiatives to keep the economy moving and Queenslanders in jobs – ranging from targeted support for industry and small business, to cost of living relief for households.

Economic recovery

  1. February - April 2020

    Immediate economic stimulus.

  2. May 2020

    Economic Recovery Strategy announced.

    Stage One initiative announced.

  3. June 2020

    Stage Two initiative announced, focused on our sector strengths.

  4. July 2020

    Further Stages of Economic Recovery.

  5. August 2020

    Economic Recovery Plan announced to drive the State's longer term economic response.


A plan for every part of Queensland

Growing our regions is the key to building Queensland’s economic recovery from the COVID-19 pandemic.

Find out how we are supporting economic recovery in your community:


May 2020: Stage One of Queensland’s Economic Recovery Strategy

  • $50 billion Infrastructure Guarantee—maintaining the current State infrastructure investment program at $51.8 billion over the next four years 2019-20 to 2022-23.
  • $400 million Accelerated Works Program—to support our regions with a substantial capital and maintenance roads program.
  • $200 million Works for Queensland COVID Recovery Package—to support local jobs and Local Governments with funding for building productive infrastructure.
  • $11.25 million Household Resilience Program—to support local industry by improving the resilience of North and Central Queensland homes against natural disasters
  • $50 million to support Queensland's Tourism Industry—to fast track tourism projects and assist our national tourism icons
  • $100 million Small Business Adaption Grants Program —to help sustain small businesses so they can succeed post-COVID-19.
  • $8 million Domestic Tourism Campaign—to support jobs and businesses in our tourism regions by marketing Queensland as the destination of choice for Australian travellers.
  • $50 million Making it for Queensland—attracting industry to grow the Queensland’s advanced manufacturing capacity, particularly biomedical and health
  • CopperString—$14.8 million to continue investigating the feasibility of the CopperString project to connect the North West Minerals Province with the national electricity market.
  • Up to $20 million for additional training—to assist Queenslanders, particularly young people and women who have borne a disproportionate burden through job losses nationally, with access to additional free training.
  • $20 million Queensland ApprenticeshipsCentre—to help position Queensland at the forefront of renewable hydrogen.

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June 2020: Stage Two of Queensland’s Economic Recovery Strategy

Agriculture

Supporting digital transformation in the agribusiness and food industry, reinvigorating trade relationships and diversification in a post COVID-19 environment.

  • $5.5 million digital transformation in agribusiness – to develop integrated supply chains that improves traceability, biosecurity and food safety.
  • $5 million reinvigorated agricultural trade relationships – to support e-commerce and virtual trade facilitation in key markets and assist coordination of demand for additional regular air freight services.
  • $2 million agribusiness diversification assistance – to build capability and explore potential diversification opportunities in agricultural businesses, including for tourism.

Construction

Targeting social and affordable housing investment and regulatory strategies to sustain jobs and recognise hardship in residential construction.

  • $100 million housing construction Works for Tradies – to boost housing supply, drive economic activity and support construction across Queensland.
  • $50 million SEQ community stimulus program – further funding to local government to support minor works and projects that create local jobs in our most impacted areas.
  • $106 million support for home building: to stimulate the building market for new homes valued at less than $750,000:
    • first home owners grant – re-affirm our commitment to the $15,000 first home owner grants program for any Queensland first home buyers purchasing a new home.
    • regional home building boost – to provide a $5,000 grant for buyers of a new home (as principal place of residence) in a regional location (in addition to the $15,000 for first home owners).
  • $10 million seniors and accessibility assistance – to continue providing services for seniors and people with disabilities to conduct critical home maintenance.
  • $1.175 million regional training infrastructure – to upgrade existing TAFE training campuses.

Tourism

Continuing to provide immediate assistance to the tourism sector by strengthening tourism assets to ensure the sector is ready to respond when the economy is back on its feet.

  • $15 million airline route support – to support and encourage domestic tourism spend across Queensland.
  • $8.93 million national parks works and jobs boost – to provide visitor infrastructure upgrades and enhancements to re-energise nature-based tourism.
  • $1.82 million to extend the existing rental rebate and fee relief to assist Reef Fleet operators.
  • $3 million North Queensland Events Recovery Package to December 2021 to attract major events to the region.
  • $2 million COVID-19 Marine Tourism Rebate to help offset private marina berthing fees for marine tourism businesses operating vessels in the Livingstone, Townsville, Douglas and Whitsunday local government areas.
  • $5 million COVID-19 International Tourism Adaptation Grant to support tourism businesses in regional Queensland who have suffered losses of income because of the international travel restrictions.

Resources

Supporting the continued diversification of the resources sector through exploration and the commercialisation of Mining Equipment Technology and Services businesses, start-ups and innovators.

  • $10 million new economy minerals initiative – to upscale the Collaborative Exploration Initiative and support exploration activity for new economy minerals for emerging technologies and products to meet domestic and international demand.
  • $650,000 Regional Mining Equipment, Technology and Services (METS) Accelerator Program and Queensland METS Accelerator Program – to accelerate METS small to medium sized businesses by enhancing business capabilities.
  • $23 million renewable energy training facility – providing $17 million to support industry to build a state of the art facility in Brisbane that provides world class training for solar and renewable energy.
  • Valeria coal mine – declare the $1.5 billion Valeria Project a coordinated project.

Arts and Culture

Assisting our galleries, museums and performance venues along with artists, arts workers and musicians to support our cultural and tourism recovery.

  • $11.3 million – to offset revenue losses in our music and performing arts venues and organisations.
  • $4.2 million – to provide a pipeline of performing arts and live music to support our cultural and tourism recovery.
  • $2.9 million – partnerships with local councils, venues, artists, festivals and organisations to continue employment and provide unique experiences.
  • $4.15 million – to support temporary outdoor infrastructure, capital grant funding and to fund a virtual venue for performances and the development of an online Indigenous arts and crafts sales platform.

Small Business

Supporting small businesses with a further round of direct grants to help them survive and keep providing jobs.

  • Up to $100 million in small business grants – further funding to help sustain small businesses so they can respond quickly post COVID-19 with half of the funding allocated to small businesses in regional Queensland.

Industry initiatives

  • $100,000 Qld NZ export program – to establish Trade and Investment pathways and opportunities for new and existing exporters between Queensland and New Zealand.
  • $23.16 million taxi support package – to provide one off and up front payments to operators, licence holders and booking entities.

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Economic recovery

  1. February - April 2020

    Immediate economic stimulus.

  2. May 2020

    Economic Recovery Strategy announced.

    Stage One initiative announced.

  3. June 2020

    Stage Two initiative announced, focused on our sector strengths.

  4. July 2020

    Further Stages of Economic Recovery.

  5. August 2020

    Economic Recovery Plan announced to drive the State's longer term economic response.

Last updated:
21 December 2020