Cameron Dick, Queensland’s Treasurer, reveals $3 billion deficit in state budget

Queensland’s 2024-25 budget is anticipated to reveal a $3 billion (US$1.9 billion) deficit on June 11, with additional forecasts indicating a $1 billion shortfall the following year.

Treasurer Cameron Dick justified the deficit as necessary to shield families from the cost of living crisis.

“While our government aims to achieve a surplus in the next two financial years, we will not do so at the expense of Queensland families facing deficits in their household budgets,” stated Mr. Dick on May 21.

Funding for housing and health has been a key focus of the government’s expenditure.

In central Queensland’s Wide Bay region, Labor unveiled a “record” $1.2 billion investment in the new Bundaberg Hospital and confirmed social housing initiatives in Hervey Bay.

Labor’s “Big Build” plan targets the construction of over a million new homes by 2046, costing $3.1 billion.