The Queensland Government's [Coronavirus Disease 2019] COVID-19 economic recovery strategy lays the foundation for Queensland's long-term recovery by protecting our health, creating jobs and working together. The timeline of the strategy has included: February-April 2020 - immediate economic stimulus; May - Economic Recovery Strategy and Stage One initiative announced; June - Stage Two initiative focused on sector strengths announced; July - further stages of economic recovery; August - Economic recovery plan to drive the State's longer term economic response announced.
Stage One of Queensland'
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The Queensland Government's [Coronavirus Disease 2019] COVID-19 economic recovery strategy lays the foundation for Queensland's long-term recovery by protecting our health, creating jobs and working together. The timeline of the strategy has included: February-April 2020 - immediate economic stimulus; May - Economic Recovery Strategy and Stage One initiative announced; June - Stage Two initiative focused on sector strengths announced; July - further stages of economic recovery; August - Economic recovery plan to drive the State's longer term economic response announced.
Stage One of Queensland's Economic Recovery Strategy included: Infrastructure Guarantee - maintaining the current State infrastructure investment program at $51.8 billion over the next four years 2019-20 to 2022-23; $400 million Accelerated Works Program - to support our regions with a substantial capital and maintenance roads program; Works for Queensland COVID Recovery Package - to support local jobs and Local Governments with funding for building productive infrastructure; Household Resilience Program - to support local industry by improving the resilience of North and Central Queensland homes against natural disasters; Support for Queensland's Tourism Industry - to fast track tourism projects and assist our national tourism icons; Small Business Adaptation Grants Program - to help sustain small businesses so they can succeed post-COVID-19; Domestic Tourism Campaign - to support jobs and businesses in our tourism regions by marketing Queensland as the destination of choice for Australian travellers; Making it for Queensland - attracting industry to grow the Queensland's advanced manufacturing capacity, particularly biomedical and health; CopperString - funding to continue investigating the feasibility of the CopperString project to connect the North West Minerals Province with the national electricity market; Up to $20 million to assist Queenslanders, particularly young people and women who have borne a disproportionate burden through job losses nationally, with access to additional free training; and $20 million for the Queensland Apprenticeships Centre to help position Queensland at the forefront of renewable hydrogen.
Stage Two of Queensland's Economic Recovery Strategy included: Agriculture - supporting digital transformation in the agribusiness and food industry, reinvigorating trade relationships and diversification in a post COVID-19 environment; Construction - targeting social and affordable housing investment and regulatory strategies to sustain jobs and recognise hardship in residential construction; Tourism - continuing to provide immediate assistance to the tourism sector by strengthening tourism assets to ensure the sector is ready to respond when the economy is back on its feet; Resources - supporting the continued diversification of the resources sector through exploration and the commercialisation of Mining Equipment Technology and Services businesses, start-ups and innovators, including funding for a renewable energy training facility in Brisbane; Arts and Culture - assisting our galleries, museums and performance venues along with artists, arts workers and musicians to support our cultural and tourism recovery; Small business - supporting small businesses with a further round of direct grants to help them survive and keep providing jobs. Other industry initiatives included: Qld NZ export program – to establish trade and investment pathways and opportunities for new and existing exporters between Queensland and New Zealand; and the taxi support package – to provide one off and upfront payments to operators, licence holders and booking entities.
Queensland's economic recovery plan aims to not just build back but build back better. The plan, released by Premier Annastacia Palaszczuk on 20 August, follows extensive consultation with business, industry, regional and community stakeholders. Underpinning the plan is more than $7 billion in recovery initiatives to keep the economy moving and Queenslanders in jobs. The plan outlines six key areas of focus over the next two to five years: (1) Safeguarding our health - safeguarding our health and jobs by keeping Queensland pandemic ready; (2) Backing small business - helping small business thrive in a changing environment; (3) Making it for Queensland - growing manufacturing across traditional and new industries; (4) Building Queensland - driving investment in the infrastructure that supports our recovery, resilience and future prosperity; (5) Growing our regions - helping Queensland's regions grow by attracting people, talent and investment; (6) Investing in skills - ensuring Queenslanders have the skills they need to find meaningful jobs and set up pathways for the future.
Queensland's COVID-19 economic recovery plan budget update for 2021–22 outlines the government's commitment to deliver the ongoing support, stimulus and reform needed to drive sustainable economic growth and create ongoing jobs, in line with the six economic recovery priority areas.
Edited excerpts from publisher's website and publications.
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