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Queensland Government Reveals Economic Recovery Strategy

  • May 27, 2020

QUEENSLAND GOVERNMENT REVEALS ECONOMIC RECOVERY STRATEGY

The strategy, in partnership with the private sector, is aimed at supporting jobs and revitalising the State’s economy.

The Economic Recovery Strategy: Unite and Recover for Queensland Jobs reconfirms the State Government’s commitment to maintain infrastructure investment at more than $ billion over the next four years. The package of measures focuses on building infrastructure and accelerating construction projects to protect jobs across Queensland.

The strategy includes:

  • A $400 million Accelerated Works Program to deliver new road, bridge and pavement sealing works across the state;
  • $200 million in 2020-21 for a Works for Queensland program to support jobs and fund productive building projects;
  • An $11.25 million expansion of the Household Resilience Program in cyclone affected areas;
  • An additional $100 million in small business support; and
  • The establishment of a Queensland Industry Recovery Panel.

The Property Council continues to engage with the State Government on the importance of establishing a $600 million catalyst infrastructure fund as a key measure to include in the next stage of the Queensland Economic Recovery Strategy.

The Treasurer also announced the 2020-21 Queensland Budget would be suspended. Instead of a full budget, the Queensland Government will release a COVID-19 Fiscal and Economic Review (C19-FER) in September, ahead of the election on 31 October. The C19-FER will be prepared using the same standards as the annual Mid-Year Fiscal and Economic Review (MYFER).

To view more detail on the announcement, please click here.