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Motherlode: Big spending Qld budget digs up record $12.3b surplus from coal royalties

John Crouch reports in InQld (13.6.23) on the Palaszczuk government’s 2023-24 state budget, with Treasurer Cameron Dick sharing the spoils of record coal royalty revenues.

‘Treasurer Cameron Dick said the $12.3 billion surplus for 2022/23 was the largest ever for any state or territory, while declaring “help is on the way” for people struggling with rising inflation and interest rates.

‘“In this budget, our government will deliver greater and more widespread cost-of-living relief than any other government in Australia, state or federal,” he said as he handed down the budget on Tuesday.

‘Dick said the largesse was possible thanks to the government’s progressive royalties regime introduced last year, which brought in an extra $10.5b amid high coal and gas prices.

‘… Dick announced $1.6b in new and expanded cost of living relief, including an increase in the electricity bill rebate to $550 for all households – up from $175 – and more than $1000 for eligible concession holders. He said the rebates meant low-income households, such as pensioners, might pay nothing for electricity in the next financial year.

‘The other big-ticket item was $645m over four years to provide 15 hours a week of free kindergarten for all four-year-olds.’

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