Following a budget focused on easing cost of living pressures for Queenslanders we’ve broken down the key initiatives relevant to Queensland’s engineering workforce.
Queensland Division Committee President Andrew Reid provides his commentary throughout.
Infrastructure
Queensland’s four-year infrastructure program is now worth just over $107 billion.
In 2024-25 the government will focus on $27.1 billion of those works, which is expected to support 72,000 jobs. Around $18 billion of this funding, and 50000 jobs, will support projects outside of the Greater Brisbane region.
The Works for Queensland Program, which supports local governments outside of South East Queensland, will deliver $124.5 million worth of local projects in 2024-24. Around half of which are already under construction.
Key regional projects include:
- Direct Sunshine Coast Rail Line between Beerwah and Maroochydore
- The Coomera Connector from Coomera to Nerang
- Bruce Highway upgrades - to construct the Rockhampton Ring Road, the Cooroy to Curra section, the bypass of Tiaro and upgrades to the Gateway Motorway and Dohles Rocks Road
- Gold Coast Light Rail Stage 3
- Logan and Gold Coast faster rail between Kuraby to Beenleigh
Mr Reid says the capacity of the government and industry to deliver these projects on budget however is an issue given the cost blow outs on Cross River Rail.
“Projects such as this are necessary but given the project duration a more conservative approach to contingency to better deal with unforeseen cost pressures would be prudent.”
The Budget allocates $100 million, in joint federal and state funding, over three years from the Disaster Recovery Funding Arrangements Efficiencies, to support disaster resilience and mitigation initiatives including infrastructure.
The venues infrastructure program for the Brisbane Olympic and Paralympic Games 2032 will get $7.1 billion in joint funding by the federal and state governments over the next nine years.
The majority of venue funding will go to the Brisbane Arena upgrades ($2.5B), Queensland State Athletics Center upgrades and refurbishment of Gabba and Suncorp Stadiums ($2.7B). Remaining funding will go to 15 venues under the Minor Venues program.
Energy
The 2024-25 budget includes investment of $26 billion for the next four years to deliver the Queensland Energy and Jobs Plan. Supported by the $4.5 billion Queensland Renewable Energy and Hydrogen Jobs Fund.
The money will go towards:
- $16.5 billion for renewable energy and storage
- $8.5 million for transmission infrastructure
- $500 million for distribution network storage
- $192 million for Powerlink to develop Transmission and Training Hubs in Townsville and Gladstone.
Mr. Reid says of the $16.5 billion being spent on renewable and storage, $936 million ($14.2 billion total cost) to has been committed to the Borumba Pumped Hydro Energy Storage, essential for our transition to clean energy.
“While we understand there is a limit to how much can be spent in this domain, it is noted there is only $38.5 million committed to early works during 24/25 for the Pioneer-Burdekin pumped hydro project,” he says.
“Pumped hydro for deep storage is essential if we are to pursue a renewables future. A balance of storage types will be required to meet the full spectrum of our needs."
Queenslanders who work at existing publicly owned coal fired power stations and associated coal mines may be supported by the Job Security Guarantee Fund ($150 million), to gain access to new jobs, training or financial assistance.
Skills
Support of one million training places for Queenslanders was announced in this budget, to allow people to train, upskill, reskill and go after jobs in priority industries.
As part of the Good Jobs, Great Training: Queensland Skills Strategy 2024–2028 one million free and subsidised training places will be available in construction, clean energy and other key areas such as health and social services.
The 50 per cent Apprentice and Trainee rebate has been extended for another 12 months until June 2025. This program works to reduce costs for businesses from payroll tax to employ apprentices and trainees.
In addition to skills training the government announced $1.2 billion on education infrastructure and the construction of three new hospitals.
“New hospitals for Bundaberg, Coomera and Toowoomba with further investment post 24/25 for project completion will soak up resources in the regions,” Mr Reid says.
To find out more about all the Queensland Budget announcements see details on the Queensland Government website.