Infrastructure for a growing state is again the cornerstone of the 2022-23 State Budget with almost $350 million in capital purchases and grants to further develop the state.
Deputy Premier Steven Miles said the funding included the continuation of existing programs such as the regionally-focused Works for Queensland and the Resources Community Infrastructure Fund initiatives and other targeted programs designed to address the surging growth in south-east Queensland.
“Latest population data released by the Australia Bureau of Statistics shows that net interstate migration to Queensland grew by more than 40,000 people over the year to September quarter 2021,” Mr Miles said.
“That was the largest increase in 27 years. Overall population growth will continue in the years ahead with a quarter of a million more people are expected to call Queensland home over the next four years.”
The Deputy Premier said it was crucial that Queensland had the housing, infrastructure and services to cater for this increase, especially as growth is expected to gain momentum as we head towards the 2032 Olympic and Paralympic Games.
Mr Miles said $200 million has been allocated to proactively address housing land supply challenges in the south-east.
“The Catalyst Infrastructure Fund (CIF) will receive $150 million in equity funding for the major infrastructure needed to continue the delivery of new communities such as Ripley Valley and Greater Flagstone,” he said.
“The funding will be supplemented by contributions from property developers who will be required to make co-investments of at least 20 per cent towards the cost of the major infrastructure going into their development projects.
“An additional $50 million in equity funding has been approved for the new Growth Acceleration Fund to invest in the trunk infrastructure needed to develop residential lots and increase dwelling supply.
“Initially, the new Growth Acceleration Fund will focus on growth areas in south-east Queensland including the Sunshine Coast, Moreton Bay, Brisbane, Redland, and Gold Coast.”
Almost 50,000 residential lots are being unlocked in south-east Queensland since the 2020 state election, thanks largely to targeted co-investment from the government.
Mr Miles said the 2022-23 Budget also included:
- $88.2 million as part of the $1 billion Works for Queensland program to support local governments in regional Queensland to undertake job-creating maintenance and minor infrastructure works
- $46 million for the Resources Community Infrastructure Fund to support the post-COVID recovery of regional communities by improving economic and social infrastructure across Queensland’s resources communities
- $36.1 million for the Local Government Grants and Subsidies Program which provides funding for priority infrastructure projects to meet identified community needs and to support projects that will enhance sustainable and liveable communities
- $24.8 million towards the $200 million South East Queensland Community Stimulus Program to fast track south-east Queensland councils’ investment in new infrastructure and community assets that creates jobs and delivers economic stimulus
- $22.3 million as part of the $120 million Indigenous Councils Critical Infrastructure Program to support Indigenous councils to implement projects and infrastructure works relating to critical water, wastewater and solid waste assets, and provide a basis for the long-term strategic management of essential assets
Mr Miles said the budget capital works announcements underpinned the recent release of the State Infrastructure Strategy – a blueprint on what the next 20 years of Queensland’s future infrastructure will represent in backing jobs, economic growth and ensuring healthy, liveable, and growing communities.
The strategy is backed by the government’s $59.1 billion, four-year infrastructure guarantee.
“After consultation we’ve expanded our strategy with 183 priority actions, including a stronger focus on sustainability, affordable housing, innovation, and improving infrastructure delivery,” Mr Miles said.
“The strategy signals to communities and the private sector that we want to work together in delivering the infrastructure we need to support jobs, investment and liveability across the state.
“It will help realise Queensland’s potential as a renewable energy superpower and create a powerful legacy from the Brisbane 2032 Olympic and Paralympic Games.”
The Deputy Premier said other key portfolio priorities in the budget include
- $741 million over three years under the Resilient Homes Fundto support Queensland homeowners to improve the resilience of residential property following significant flood events in the 2021-22 disaster season
- Additional funding of $1.077 billion over four years under the Disaster Recovery Funding Arrangements to support a range of recovery and resilience projects following significant flood events in the 2021-22 disaster season
- Continuation of the implementation of The Spit Master Plan with a commitment of $15.5 million over five years to ensure the revitalisation of The Spit on the Gold Coast
- Up to $15 million to support the scaling-up of the National Battery Testing Centre at Banyo.
- Progress the planning, validation, coordination, and delivery of the Brisbane 2032 Olympic and Paralympic Games (Brisbane 2032) Master Plan and associated infrastructure
- Implement the $3.34 billion Queensland Jobs Fund, including the Industry Partnership Program and associated industry development grant programs for sectors such as hydrogen, defence and aerospace and resource recovery
- Deliver the Regional Infrastructure Planning program to set ambitious social and economic aspirations for Queensland’s regions and provide strong investment signals to industry and councils about enabling infrastructure to realise regional priorities
- Work with agencies to align their infrastructure programs with whole-of-government objectives, publish an annual Queensland Government Infrastructure Pipeline report and continue to support councils in delivering priority infrastructure and essential services through the delivery of the 2022-2024 Local Government Grants and Subsidies Program