Queensland Economic Advocacy Solutions

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State Election Impacts on the State Budget

Every State Election has an impact to the State Budget.  There are policy program announcements, infrastructure announcements and revenue and tax announcements. QEAS has crunched the numbers and the results are below for your information. 

LNP election commitments total $4.35 billion and include $981 million worth of tax cuts, $1.6 billion worth of new programs and $1.75 billion worth of infrastructure projects. Queensland Labor commitments total $2.8 billion and include $1.4 billion worth of new programs or reinvestment in programs and $1.4 billion worth of infrastructure announcements.  This continues the historical trend whereby Opposition announcements are greater than a State Government seeking to be reelected due to an Opposition typically wanting to take the State in a different direction.

Total budget repair measures for the LNP total $5 billion and include $2.3 billion worth of recurrent expenditure savings and $2.7 billion worth of infrastructure repriorititsation. Key points:

  • No new taxes fees or charges;
  • Deferral of the Brisbane Cross River Rail $2.5 billion; and
  • Government Efficiency Program of $1.6 billion.

Total repair measures for Queensland Labor total $3.0 billion and include $1.5 worth of recurrent expenditure savings or tax increases and $1.5 billion worth of capital measures. Key points:

  • $491 million worth of additional tax revenue sourced from a 7% transfer duty surcharge applied 2 foreign buyers of QLD property, a new land tax category for 850 large property holdings, additional 2% duty on luxury motor vehicles & point of consumption wagering tax; and
  • A 1% reprioritisation measure in the public service saving $1 billion.

The total budget repair for the LNP across the forward estimates is $679 million compared to $261 million for Queensland Labor.

Total debt levels in 2020-21 for the LNP is $80,468 million and for Queensland Labor is $80,872 million (note: Queensland Labor uses a base point debt measure as at 27 October 2017 of $71,968 as opposed to the LNP's State Budget debt base point in June 2017 of $71,989 million). 

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