- New and expanded cost-of-living concessions and rebates worth $3.739 billion in 2024-25 to lower household bills and fight inflation
- Nation-leading support for Queenslanders totaling $11.218 billion
- Electricity bills, public transport, car registration, and sports vouchers among the suite of savings
An $11.218 billion package of cost-of-living relief and targeted concessions is the centrepiece of the 2024-25 Queensland Budget.
The 2024-25 State Budget has been designed to take pressure off Queensland households with $3.739 billion in new and expanded cost-of-living measures.
The 2024-25 Budget delivers record cost-of-living concessions, up 31.1 per cent compared with $8.555 billion in 2023-24, helping Queenslanders when they need it.
This nation-leading program will assist Queensland households challenged by global inflation, national growing pains, and higher-than-forecast population migration.
New and boosted initiatives include electricity bill rebates, almost free public transport fares, reduced vehicle registration fees, more and bigger discount vouchers for children’s sport and active recreation activities, as well as expanded relief measures for vulnerable groups.
Cost-of-living relief for all Queenslanders includes:
- $1,300 electricity bill support for all Queensland households from July 2024, with a higher $1,672 rebate for vulnerable households
- 20 per cent reduction in vehicle registration fees for a 12 month period
- A flat fare of 50 cents per trip across all Translink public transport services from 5 August 2024 for 6 months
- Half-price Airtrain tickets from 5 August 2024 for 6 months
- $200 FairPlay vouchers for sport and active recreation activities for up to 200,000 Queensland children
- $15 million for the School and Community Food Relief to provide healthy food for children during school days
- Food, emergency and financial relief to support Queensland families in need.
The State Budget delivers $2.965 for additional electricity bill support to households and small businesses. As part of this package, all Queensland households will automatically receive $1,300 off their electricity bills in 2024–25.
This consists of an upfront $1,000 Cost of Living Rebate from the Miles Labor Government and a $300 rebate paid in quarterly instalments from the Australian Government.
Eligible seniors, pensioners and concession card holders will receive $1,672 off their power bills, and eligible small businesses will get a total of $650 off their power bills.
This means most households will not have to pay any out-of-pocket cost for their electricity in the next quarter, based on the state’s average power bill.
Queenslanders will also be saving on their public transport, with nearly free trips from August 5 for six months.
The 50 cents fares will be available across all modes of transport – including trains, buses, ferries and trams across the Translink South East Queensland and Regional Urban networks.
This $150 million initiative is expected to increase public transport patronage and reduce congestion on Queensland’s busy roads.
Motorists have not been forgotten either, with a $435 million cost-of-living measure to provide a 20 per cent reduction in vehicle registration costs for all light vehicles for a 12 month period, which is scheduled to start appearing on renewal notices sent to customers from 5 August 2024.
The reduction will benefit owners of around 5.7 million vehicles across the state and builds on the previously announced freeze on registration fee increases, to be implemented from 1 July this year.
From 1 July, all Queensland families with children or young people aged between 5 and 17 years can also apply for the expanded FairPlay sports and reaction activity vouchers, saving $200 per child on a range of activities. The government has committed $33.5 million in 2024-25, bringing total funding to $40 million in 2024-25, to provide up to 200,000 vouchers.
Food relief in schools will also be boosted through the $15 million School and Community Food Relief Program in 2024-25 providing nutritious meals for school aged children.
The Queensland Budget also provides $6.2 million for food recovery and distribution with key partners, including $2.9 million over four years for Foodbank Queensland to improve warehousing and operations and an additional $3.3 million over two years shared between for OzHarvest and SecondBite to continue critical food recovery and distribution services across Queensland.
A doubling of funding committing $1.2 million for Queensland Meals on Wheels will ensure essential the meal services can continue to support vulnerable Queenslanders with nutritious, value for money meals.
The record cost-of-living package has been funded by Queensland’s super-profits coal royalties program, which added $3.6 billion to the royalties revenue of $10.541 billion.
As stated by Premier Steven Miles:
“My first budget as Premier delivers on my commitment to Queenslanders from day one – putting money back in the pockets of Queenslanders.
“Our initiatives drive real action on cost-of-living for Queenslanders.
“We know Queenslanders are facing huge financial pressures from their mortgage, rents and transport.
“That’s why we are providing a nation-leading rebates and concessions package of $11.218 billion to help.
“This relief will go a long way to helping Queensland families make ends meet.”
As stated by Deputy Premier and Treasurer Cameron Dick:
“The Budget that helps Queenslanders now, while building a better future of our state.
“We know Queenslanders are facing challenges balancing their household budgets. That’s why we brought forward urgent cost-of-living relief to help.
“By addressing short-term pressures, the Government is safeguarding a future for everyone, particularly our most vulnerable.
“The design of our $3.739 billion in new and expanded cost-of-living measures means every Queenslander counts.
“This Budget strikes the right balance between keeping pressure off inflation and delivering cost-of-living relief.”
