Queensland Treasurer Predicts a Slim Budget Surplus — But Not for Four Years

Queensland's Treasurer David Janetzki has handed down his second budget, predicting the state will earn more money than it spends by 2029–30. That would mean a surplus of $619 million, which is money left over after all expenses are paid. However, this won't happen for another four years — well after the next state election in 2028. To reach that goal, the government plans to cut spending, save money inside the public service, and bring in more revenue.

The budget was released during a time of rising prices and global economic uncertainty. To help families with everyday costs, the government lifted the back-to-school payment by 50 per cent to $150. Government fees and charges will also rise by only 3.4 per cent, which is lower than the current inflation rate. These small measures are aimed at easing financial pressure on Queensland households.

A big part of the savings plan involves cutting $500 million from the public service. This includes limits on filling senior positions and reducing the amount of office space used by government departments. At the same time, Premier David Crisafulli and Treasurer Janetzki say they are growing the number of 'frontline' workers — people like teachers, nurses, and police who serve the public directly. They argue the cuts target office roles, not the services Queenslanders rely on.

A government report showed the public service grew by nearly 8,700 full-time jobs in the year to March. Janetzki pointed out that only 34 of those new jobs were in back-office roles. But the budget papers reveal that funded full-time positions for 2026–27 will only grow by about 2,200 — a rate slower than Queensland's population growth. This means services may be stretched thinner as more people move to the state.

Of the state's 25 departments, 11 will gain staff, including Education, Health, and Police. However, 14 departments will cut a total of 222 positions. Employee costs will still rise by 5.4 per cent in 2026–27, before slowing to around 3 per cent in later years. Managing this growth carefully is central to the government's plan for reaching a surplus.

Queensland's debt will keep climbing during this period. Net debt is set to grow from $51.3 billion to $98 billion by 2029–30, while total government borrowings could reach $216.4 billion. Changes to the waste disposal levy and stronger efforts to collect unpaid taxes will bring in over $700 million over four years. The government believes this extra revenue, combined with slower spending, will make the surplus possible.

Several large projects connected to the 2032 Brisbane Olympic Games still don't have final price tags. Planning and purchasing are ongoing for venues and transport upgrades. Premier Crisafulli said the government is getting better value from its building contracts. He expressed confidence that smarter negotiations and improved productivity mean Queensland is getting more infrastructure for its money.