A $10 billion surge in coal royalties has delivered a record $12 billion surplus in Queensland’s state budget.
The 2023-24 budget includes more than $1.6 billion worth of cost of living measures to support Queenslanders.
As part of the budget, all households will receive a $550 rebate on their electricity bill in 2023-24.
Meanwhile, around 600,000 concession holders will benefit from a higher $700 cost of living rebate.
In addition, vulnerable households will continue to receive a $372 rebate under the Queensland Electricity Rebate Scheme, bringing total support for this group to $1,072 in 2023–24.
Eligible small businesses in Queensland will also receive a rebate of $650 on their electricity bill in 2023–24. This includes around 205,000 Queensland small businesses that consume less than 100,000 kilowatt hours per annum.
Electricity providers will apply the credit automatically.
From 1 July for most households, rebates will start flowing through and applied to bills on a quarterly basis - the exact timing depends on the retailer.
Queensland Treasurer Cameron Dick promised help is on the way for every household.
“In this Budget, our government will deliver greater and more widespread cost-of-living relief than any other government in Australia, state or Federal,” Mr Dick said.
“Thanks to the Albanese Labor Government, many Queensland households will receive $250 through a Federal Government electricity rebate, matched by another $250 from our government.
“However, under the terms set by the Federal Government, around half of Queensland households will receive no relief from that rebate.
“I am pleased to announce today that our government will deliver a major expansion of the rebate program and we will pay for the entirety of that expansion program ourselves.”
Including the $550 cost of living rebate in 2023–24, the government will have provided all Queensland households with a total of $1,125 in electricity rebates since 2018.
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