The Queensland Government’s 2023–24 Budget is investing in the things that matter to all Queenslanders —including water and the environment.
These investments will be supported by the Big Build — a record 4-year $89 billion capital program supporting around 58,000 jobs in 2023–24. It’s the largest ever undertaken by a Queensland Government and includes significant investment in new energy infrastructure.
$89 billion record 4-year capital program
The Queensland Government is in the midst of a building boom, with a record 4-year capital program of $88.729 billion.
In 2023–24, the government’s capital program will directly support around 58,000 jobs, creating generational change and providing first-class facilities for all Queenslanders.
This Budget continues to deliver on the Queensland Government’s $50 billion Infrastructure Guarantee. It is investing in new and ongoing projects, including vital water projects, such as the $983 million Fitzroy to Gladstone water pipeline to deliver water security to the Gladstone region to support current and future industries.
Supporting the regions
This Queensland Government Budget will invest $13.308 billion in 2023–24 in projects outside of the Greater Brisbane region, supporting around 38,500 jobs.
In the 2022–23 Budget Update, the government committed to utilising the uplift in royalty revenue to fund $4 billion in productivity-enhancing investments across regional Queensland. This will support investments across energy, water, and port sectors for projects which will underpin Queensland’s future economic prosperity. In this Budget, the government is providing an additional $6 billion in funding for the Borumba Pumped Hydro Energy Storage project. This brings the government’s total commitment to regional investments to $10 billion and includes:
- $7 billion for state-owned, large scale, long-duration pumped hydro, including $6 billion for the Borumba project over the construction period
- $1 billion for the Pioneer-Burdekin project
- $550 million towards the Fitzroy to Gladstone water pipeline, enabling long-term water security to the region
- $440 million towards Sunwater’s Burdekin Falls Dam Improvement and Raising Project, improving and raising the dam by 2 metres to further support water security, noting this is on top of the existing $100 million commitment towards the project
As well as the Queensland Energy and Jobs Plan, key projects in rural and regional Queensland include continued construction of the Rookwood Weir and Mount Crosby Flood Resilience Program, delivery of the Toowoomba to Warwick Pipeline project, building new regional hospitals and schools, courthouse upgrades, continued delivery of the Port of Townsville Channel Capacity Upgrade, and expansion of the Cairns Marine Precinct.
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