Queensland Treasury is in the business of growing the Queensland economy and improving the wellbeing of all Queenslanders. As a central agency, we leverage a government-wide perspective to provide trusted, impartial and influential advice and services to clients, and partner with agencies for better outcomes in the economy and state finances, revenue and commercial services.
Preparing the state budget
Treasury is responsible for managing Queensland’s revenue and expenditure in a way that drives economic growth, creates jobs, and improves prosperity now and into the future. Each year, Treasury prepares a state budget. We do this by working with other government agencies to negotiate departmental budgets that respect the fiscal, economic and service delivery goals of the government.
Throughout the year, Treasury provides financial management advice to Queensland Government agencies to ensure service delivery is consistent with the government’s fiscal strategy. Treasury is also responsible for liaising with the Australian Government about financial relations and grants.
Economic and fiscal coordination
As the state’s central economic advisory unit, Treasury – through our statistical gathering and analysis, economic analysis and financial management expertise – is uniquely placed to advise Cabinet on the financial and economic impact of policy decisions, and to advocate for economically strong policy outcomes across government. We do this through liaising at a departmental level with other government agencies and by providing impartial, evidence-based advice to Cabinet.
Treasury monitors the performance of all government commercial businesses, including 11 Queensland government-owned corporations and two statutory bodies which have commercial operations.
Commercial Group, a specialist business unit within Treasury, aims to enhance the government’s infrastructure delivery capability, ensuring public needs are met while advising on innovative commercial arrangements that maximise private investment and optimise the value of government expenditure.
Treasury’s Office of State Revenue (OSR) is responsible for collecting state taxes (including duties, payroll tax and land tax) and mining and petroleum royalties on behalf of the Queensland Government.