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Queensland Government delivers post-election budget

10 July 2018

The Queensland Government handed down its FY18-19 budget in June, with an emphasis on infrastructure spending across the State. In North Queensland, this has been concentrated on road infrastructure, in addition to continuing to fund the development of the North Queensland Stadium.
 
$1.342 billion has been allocated over the next four years to North Queensland roads, with $181.7 million of this to be spent in FY18-19. This will include work such as bridge construction, cane tramway overpasses and intersection upgrades on the Bruce Highway between Townsville and Ayr, and rehabilitation works on the Flinders Highway between Townsville and Charters Townsville.
 
The Government also announced a reduction in the First Home Owners Grant, eligible only for the purchase of newly constructed homes, from $20,000 to $15,000. While this could negatively affect the construction sector, it may prove to have play a minor role in encouraging first home buyers to consider existing property stock by lessening the financial leg-up to opt for building a new home.

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