Extract from ABC News
By Jessica van VonderenUpdated 14 minutes ago
Photo:
Curtis Pitt delivers the Palaszczuk Government's first budget at
Parliament House on Tuesday. (ABC News: Jessica van Vonderen)
Map:
QLD
The Queensland Government is forecasting the biggest budget surplus in nine years, with a plan to reduce debt, but will make changes to public service leave and superannuation schemes to achieve it.
Treasurer Curtis Pitt handed down a $49.9 billion budget today, with a key focus on jobs, health and education.
The budget is predicted to achieve a $962 million operating surplus in 2014-15, rising to $1.2 billion in 2015-16.
The Government will shave $7.5 billion off its debt levels in 2015-16, through a Debt Action Plan.
That includes a five-year suspension of investment in defined benefit employer contributions for public servants.
Queensland's unique long service leave arrangements, introduced in 1998, will also be changed.
Budget at a glance
- $49.9 billion budget, with a focus on jobs, health and education
- Operating surplus $962 million in 2014-15
- Operating surplus of $1.2 billion in 2015-16
- Government borrowings to fall from $43.2 billion in 2014-15 to $38.1 billion in 2015-16
- Total debt including Government-owned corporations to fall from $75.5 billion in 2104-15 to $74.1 billion in 2015-16
- Debt to be reduced by $9.6 billion over three years by moving $4.1 billion of state debt to the balance sheets of government-owned electricity corporations
- Pay down $3.4 billion by only paying long service entitlements when they arise, instead of setting money aside for future claims
- Reduce debt by $2 billion by suspending
employer superannuation contributions to the defined benefit scheme
for five years
Mr Pitt insists public servants have nothing to fear.
"There will be no change to workers' entitlements in terms of their superannuation as they stand today, as they stood yesterday, and certainly as they will be tomorrow," he said.
"They are all guaranteed by legislation.
"This government would never put workers' entitlements, including superannuation, at risk.
"If every one of those members decided to leave the public service tomorrow at 9am, everyone of those members would be paid out in full."
Another $4.1 billion in debt will be shifted to the balance sheets of government-owned energy corporations.
In all, borrowings will fall from $43.2 billion in 2014-15 to $38.1 billion the following financial year.
However, if you take the debt of government-owned corporations' into account, the total 2015-16 figure is $74.1 billion.
Mr Pitt said this had been achieved without the asset sales the previous LNP Government had flagged.
"The LNP, who have told Queenslanders that the only way to reduce debt in Queensland was to sell assets, clearly have been proven wrong," he said.
Mr Pitt's "no frills" economic blueprint budgets for $49.9 billion in spending in 2015-16.
There are no big-ticket, headline-grabbing measures, but the biggest portion of the budget will go to health.
Health
A record $14.2 billion has been set aside to meet growth in demand for services.A total of $361.2 million over four years will go towards reducing the number of people waiting longer than recommended to see a specialist.
Another $111 million over four years will pay for 4,000 additional places for nursing and midwifery graduates.
The Roma, Hervey Bay, Caloundra and Gladstone hospitals will be upgraded with a $180 million allocation.
There will be an extra 75 paramedics employed throughout the state.
Education and jobs
There is a $9 billion commitment for education, including 875 extra teaching positions over three years.But the Treasurer is most keen to promote a $1.6 billion jobs package, with unemployment levels forecast to remain stubbornly high at 6.5 per cent in 2015-16.
The package includes the restoration of TAFE funding, training programs, and a Business Development Fund to stimulate emerging industries.
Business and community wish list
Queensland industry, councils and community groups were hoping for a boost in Treasurer Curtis Pitt's budget.
Transport and main roads
A total of $2.9 billion will be spent on roads projects in 2015-16.These include widening the Gateway Motorway North between Nudgee and Bracken Ridge, the Toowoomba Second Range Crossing project, and upgrades on the Gold Coast in preparation for the Commonwealth Games.
Rural and regional
With 80 per cent of the state officially drought declared, $52 million has been set aside in 2015-16 for drought relief.The Government's Building Our Regions program, promised during the election campaign, has been brought forward. Communities will be able to apply for $100 million in funds from August.
Law and order
There will be 266 new police on the beat over the next year and $20 million budgeted over four years to tackle organised crime, alcohol-fuelled violence and the drug, ice.The Government is also bringing back its court diversionary programs, including the Murri Court.
A 'Labor' budget
Photo: Queensland Treasurer Curtis Pitt had less than six months to prepare his first budget. ( ABC News: Jessica van Vonderen)
Premier Annastacia Palaszczuk has described the document as "responsible" and a "real Labor budget".
"This budget delivers on our election commitments, as we said we would," she said.
"Queensland's economy is projected to grow at 4.5 per cent in 2015-16. This is stronger growth than any other state in our nation".
The Government's revenue streams have taken a hit, with a $3 billion write-down in mining royalties.
To find extra money and fund election promises, government departments have been ordered to "reprioritise" their portfolios.
Labor also promised $150 million a year in savings by merging state-owned electricity companies, but there is little mention of that plan in the budget papers.
"The merger process is still well and truly in train," Mr Pitt said.
"We've engaged financial and legal advice."
Details are expected in the mid-year economic review.
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