Here are the key figures from the Queensland budget.
Debt: Queensland’s total debt is expected to balloon to $129.72 billion over the next three years, equating to $25,141 per Queenslander. Net debt will peak at $89 billion in 2024, compared with $104 billion in New South Wales and $155 billion in Victoria.
Deficit: For the first time in five years, Queensland will not have a budget surplus. The deficit will be $8.63 billion in 2020-2021, which is expected to drop to $1.29 billion by 2023-24.
Unemployment: Treasury predicts the state is over the worst of the unemployment crisis amplified by mass closures during the pandemic, with the jobless rate peaking at 7.7 per cent in September. It will take until June 2024 to drop to 6.5 per cent and is still expected to be higher than NSW (5.25 per cent) and Victoria (5.75 per cent).
