QLD 2024-25 State Budget Update

Overview

The 2024-25 Queensland State Budget has allocated substantial resources to addressing key areas such as infrastructure, healthcare, education, and social services. However, concerns have been raised by Business Chamber Queensland regarding the lack of long-term economic support for local businesses - a concern our chamber shares. This update highlights the key investments and their implications for the Southern Gold Coast, with reference to specific budget docments and pages for detailed insights.

Key Investment areas:

1. Infrastructure and Transportation

   • Coomera Connector Stage 1: The budget allocates $3.026 billion for the Coomera Connector, which aims to reduce travel times and enhance transport options for local journeys. This project includes additional bridge crossings and a shared pedestrian and bike path, with the Stage 1 North section expected to open progressively from late 2025 (Regional Action Plan Gold Coast, p. 2).
   • New Gold Coast Train Stations: A total of $168.3 million is allocated for 2024-25 towards constructing new train stations at Pimpama, Hope Island, and Merrimac. These stations will include onsite parking, passenger drop-off facilities, and improved connectivity to pedestrian and cycle paths (Regional Action Plan Gold Coast, p. 3).
   • Pacific Motorway Upgrade: $165 million is allocated for upgrading the motorway between Varsity Lakes and Tugun. This project aims to widen 10 km of the motorway, improving road safety and reducing congestion (Regional Action Plan Gold Coast, p. 4).
   • Gold Coast Light Rail Stage 3: The budget dedicates $308.2 million in 2024-25 for extending the light rail from Broadbeach South to Burleigh Heads, which will enhance connectivity across the region (Regional Action Plan Gold Coast, p. 5).

2. Healthcare

   • New Coomera Hospital: An allocation of $120 million for 2024-25 is part of a $1.3 billion total investment to address increasing health service demands. The new hospital will provide 404 beds, including facilities for surgical, medical, ambulatory, sub-acute, and mental health services (Regional Action Plan Gold Coast, p. 6).
   • Gold Coast Secure Mental Health Rehabilitation Unit: The budget allocates $40.3 million in 2024-25 to develop a 40-bed facility at the Gold Coast University Hospital, enhancing mental health rehabilitation services (Regional Action Plan Gold Coast, p. 7).

3. Education

   • Nerang State High School: $7 million is allocated to upgrade the existing hall facility, which will improve the learning environment for students and support educational outcomes (Regional Action Plan Gold Coast, p. 8).
   • Fee-Free TAFE and Kindy Programs: Investments in fee-free TAFE courses and kindergarten programs are designed to support workforce development and provide educational opportunities for families on the Gold Coast (Cost of Living Action, p. 3).

4. Social Housing and Community Services

   • Social Housing Expansion: The budget includes $74.8 million in 2024-25 to expand and improve social housing, addressing the growing demand for affordable housing options and supporting vulnerable populations (Regional Action Plan Gold Coast, p. 9).
   • Homelessness Services: A significant allocation of $232.2 million is made for 2024-25 to provide essential housing and support services for individuals and families at risk of homelessness (Regional Action Plan Gold Coast, p. 10).

5. Cross-Border Commissioner Role

   • Cross-Border Initiatives: The budget allocates $1.227 million in 2024-25 for the establishment of the Office of the Cross Border Commissioner. This role is critical in addressing and managing issues affecting residents and businesses in border regions like the Southern Gold Coast, facilitating smoother cross-border cooperation and resolving jurisdictional challenges (Budget Measures, p. 18). The Southern Gold Coast Chamber of Commerce has written to the Premier, calling on the government to allow the Chamber vital access to the Cross-Border Commissioner’s office during its formative phase. This access is crucial for enabling the local business community to play a constructive role in shaping public policy moving forward.

Specific Investments for the Southern Gold Coast

• Currumbin Eco-Parkland: $9.4 million in 2024-25 out of a $39.5 million total spend for provision of public access, facilitating civil works, land restoration, access to a koala vet unit, visitor parking, and public amenities (Regional Action Plan Gold Coast, p. 8).
• Currumbin Creek Road and Bienvenue Drive Upgrade: $10 million allocated for upgrading the intersection to improve traffic flow and safety (Capital Statement, p. 101).
• Currumbin Creek Road Disaster Recovery Works: $28.058 million allocated for reconstruction works to improve road infrastructure following the 2022 disaster (Capital Statement, p. 101).
• Pacific Motorway Upgrade (Varsity Lakes to Tugun): $165 million in 2024-25 out of a $1.5 billion total spend towards upgrading the Pacific Motorway between Varsity Lakes and Tugun, including improvements to road alignment (Regional Action Plan Gold Coast, p. 4).

Broader City Investments Impacting the Southern Gold Coast

• Electricity Network Enhancements: $25.8 million is allocated to augment sub-transmission and 11 kilovolt network capacity, ensuring reliable power supply for the growing population and businesses in the region (Regional Action Plan Gold Coast, p. 11).
• Disaster Recovery and Reconstruction: $19.9 million is set aside for disaster recovery projects, which will improve the resilience of local government assets affected by disaster events between 2020 and 2024 (Regional Action Plan Gold Coast, p. 12).

Business Community Concerns

Despite these substantial investments, Business Chamber Queensland has expressed concerns about the budget's ability to foster long-term economic confidence for businesses. CEO Heidi Cooper emphasized that while measures such as energy rebates and registration discounts are beneficial, they do not address the fundamental challenges of high operating costs, regulatory burdens, and declining productivity (Business Chamber Queensland Update).

Conclusion

The 2024-25 Queensland State Budget includes investments aimed at improving infrastructure, healthcare, education, and social services in the state. However, there is a clear lack of substantial investment directly targeting the needs of the Southern Gold Coast's business community. While broader city initiatives, particularly in public transport infrastructure, offer some opportunities for industry growth, there is little beyond these projects to excite local businesses.

The Business Chamber Queensland has highlighted ongoing challenges such as high operating costs, regulatory burdens, and declining productivity, which remain unaddressed in this budget. This concern is compounded by a historical trend of weak business confidence as revealed by 30 years of business data, indicating the longest period of weak business confidence in the Pulse Survey's history. Additionally, factors such as the federal budget's impact, fluctuating consumer confidence, and market uncertainties further exacerbate the difficulties faced by small businesses in the region.

In this context, the budget's provisions fall short in delivering the crucial long-term economic support needed to boost business confidence and drive sustainable growth.