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Analysis:
Analysis
14 Jun. 2024
5 minute read

Queensland Budget 2024-25

An election budget that calls for long-term vigilance

June 2024

Queensland Budget 2024-25
366 KB PDF


Budgets handed down in an election year are always a pitch to voters. The 2024-25 Queensland Budget sees the Government sacrifice its surplus for a cost-of-living package targeting electricity, car rego and public transport fares. However, there are questions about its overall effectiveness and the long-term fiscal outlook.
 
While the cost-of-living measures will reduce technical inflation to 2% over 2024-25, this is expected to bounce back up to 3.25% in 2025-26 – as soon as the subsidies end.
 
Rising project delivery costs also risk the projected return to surplus, with a $27 billion annual capital spend exposed to a trend of cost overruns – averaging 9.5% over the past two years.

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Claire Ibrahim

Deloitte - Australia
Claire is a Partner in Deloitte Access Economics’ economic analysis and public policy team with expertise in microeconomic analysis, economic scenario modelling and public policy reform agendas. Prior to joining Deloitte, Claire worked in the Queensland public sector focusing on economic and fiscal policy development. Claire is passionate about using economics to answer how structural change impacts society – leading projects across governments, the private sector and Australia’s major institutions. Claire’s body of research and analysis for clients focuses on economic transition, disruption to industry and the policy settings that minimise downside risks, while catalysing long-term economic gains.
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Dr Pradeep Philip

Deloitte - Australia
Pradeep is the Lead Partner for Deloitte Access Economics. He has had a long and successful career in public policy, with deep expertise in economics and proven leadership experience. Pradeep has been a senior bureaucrat, working at the highest levels of public policy, across three jurisdictions in Australia. Pradeep’s experience includes: Director of Policy in the Prime Minister’s office, Secretary of the Department of Health and Human Services in Victoria, CEO of LaunchVic – a company established by the Victorian Government to promote start-ups and entrepreneurship – and Associate Director General of the Department of Premier and Cabinet in Queensland. He holds a PhD in Economics and Bachelor of Economics (Hons) from the University of Queensland.
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