State Budget FY24

In Queensland we are on the cusp of significant opportunities and it’s critical the state’s businesses are supported to be competitive now and thrive into the future.

That is why in the lead up to this week’s Budget announcement, your Business Chamber Queensland team actively engaged with the State Government to advocate a strong commitment to business priorities.

On Tuesday, we were at Parliament House to hear first-hand, details from the Queensland Treasurer in the State’s FY24 Budget and, while the announcement provided some business support, there is still work to do to meet long-term business needs.

Our initial assessment of key measures secured for business include a commitment to energy bill relief and expanding initiatives to support the transition to decarbonisation. This is welcome given businesses tell us input costs like energy are significantly impacting their ability to grow.

We also welcome a continued commitment to training and skills, including funding to support womens' economic advancement, that will support businesses at a time when workforce attraction and retention is a significant business constraint.

And with workplace digitisation being a major priority for business to thrive into the future, the targeted investment in cyber security support for small and medium Queensland businesses is also critically important.

But while we welcome these support measures, there is still work to be done to address current business challenges.

This is a cost-of-living budget which can go some way to supporting consumer confidence and local spending. But we know cost-of-living pressures around the kitchen table are the same as the cost-of-doing business pressures seen around business tables across the state.

For the business community to be competitive now and realise the opportunities to come in the next decade and beyond, work must start now to enable businesses to plan, invest and scale with confidence.

Ahead of the Budget you told us there were five key priorities for business:

• Business friendly governments
  Reducing operating costs and complexity
• Smart infrastructure
  Building productivity and resilience through connectivity
• Skilled workforce
  Supporting upskilling, emerging industries and markets
• Advancing sustainability
  Developing and enhancing business practices for future sustainability
• Queensland beyond 2023
• Creating growth opportunities for businesses domestically and internationally and legacy outcomes

Our team is working through the details to better understand what this budget means for your business priorities and we’ll share that with you shortly. In the meantime, you can view our media statement here.

We will continue to advocate on your behalf to ensure Queensland is the best place to do business. We know it is an important time for business in Queensland and it is essential you're supported to meet any current day headwinds while having the confidence you need to plan for the future.





Heidi Cooper
CEO