Queensland business groups have given a lukewarm response to this week’s State Budget.
Business Chamber Queensland described it as a missed opportunity to lay the foundations for long term business confidence.
Last week, the Chamber’s quarterly Pulse survey found business confidence had experienced its steepest decline in 20 years.
Chamber CEO Heidi Cooper said the budget prioritised stability in a time of uncertainty but there were few direct measures to improve the business operating environment.
“Queensland businesses are telling us they want real relief – relief from record high costs, an ongoing tight labour market, a restrictive employment landscape, supply chain challenges and a tough regulatory environment, all compounding to put pressure on productivity and confidence,” she said.
“This budget doesn’t provide that relief.”
Ms Cooper said the Chamber welcomed the reduction in energy prices for businesses and the continuation of business-enabling infrastructure, including CopperString and the Bruce Highway.
“Queensland businesses have been very clear,” she said.
“Confidence has plummeted and they are looking for direct measures to improve the business environment today and for the future. This is not a budget that backs business to thrive.”
Master Builders Queensland welcomed the budget’s commitment to boosting building and construction productivity but said it was now “about turning that commitment into real reform”.
“The Treasurer has echoed our own language, committing to ‘pull every lever to boost productivity’ while ensuring safety and quality,” Master Builders Deputy CEO Michael Hopkins said.
“It (the budget) highlights prioritising and coordinating infrastructure projects, and reforming procurement, land use, and building activity regulation, to deliver projects on time and on budget.”
Mr Hopkins also welcomed the Budget’s focus on boosting housing supply and affordability.
“The continuation of the $30,000 First Home Owner Grant program, scrapping of stamp duty for first-home buyers of new homes, and the doubling of the Boost to Buy funding, will all help put a roof over more Queenslanders’ heads,” he said.
“We also celebrated an early win of the doubling of the investment in the Residential Activation Fund, unlocking land for new housing via essential infrastructure.”
The Property Council of Australia welcomed key infrastructure, housing and workforce initiatives but warned Queensland risked losing out on critical private investment as other states aimed to score from strong global interest.
Property Council Queensland Executive Director Jess Caire said the Budget’s focus on catalytic infrastructure funding was welcome, but investment settings must now align to turn that momentum into delivery ahead of 2032.
“Queensland’s property industry pays more tax and generates more jobs than any other sector,” she said.
“The real opportunity for us now is to grow the pie by attracting more capital to deliver more homes, more jobs and stronger long-term revenue.
“We need to support, not stifle, the industry that builds Queensland. That means addressing tax settings that continue to penalise Australian-based developers partnering with friendly offshore investors, limiting our ability to bring new capital into the state.”
