Queensland's pre-election budget is headlined by $3.7 billion in one-off payments and rebates to ease cost-of-living pressures.
It includes $2.968 billion for energy rebates, more than $400 million for discounted car registrations, and $164 million for cheaper public transport after the government announced its plan for 50¢ trips.
There is also $90 million allocated for first home buyer stamp duty concessions, and $33 million to fund $200 children's sports vouchers.
"It's a budget that does what matters for Queensland, now and in the future," Premier Steven Miles said.
Despite it being a third-term government and its 10th budget, he declared: "We're a new government with a new approach.
"We have chosen to deliver nation-leading cost-of-living relief that will give all Queenslanders more choice. It delivers what Queenslanders deserve."
Treasurer Cameron Dick said when the state goes to the polls on October 26, "Queenslanders will be asked to make a choice about their future, not to express an opinion about the past".
To fund the record cash splash, Queensland will go into the red next year with a deficit of $2.631 billion.
A smaller deficit of $515 million will follow in the 2025-26 financial year before a forecast return to surplus in 2026-27.
As revealed by 9News last night, next year Queensland's total debt will hit $124 billion.
"Of course, over the forwards, debt will increase as we invest in infrastructure," Dick said.
The opposition said the budget was short-sighted.
"This election budget was all about getting Steven Miles through the next four months to the election," Shadow Treasurer David Janetzki said.
The treasurer is also taxing coal companies to pay not just for cost-of-living but health and infrastructure spending, and the government is raking it in.
Last year it was forecast to pull in $5.3 billion in coal royalties this financial year. That figure has now jumped to $10.5 billion, resulting in a budget surplus this year.
But with the price of coal set to ease off there are warnings that it's not sustainable.
The budget also included huge chunks of money for health, community safety, and the 2032 Olympic Games.
There's $2.5 billion for Brisbane Arena, $2.7 billion worth of upgrades for the Gabba, Suncorp Stadium and Queensland Sport and Athletics Centre, plus another $1.9 billion for all other venues.
The funding for the venues will be split 50-50 between the state and federal governments.
The health sector is getting a 10 per cent boost with an extra $1.1 billion to find 700 more doctors, 2500 midwives and nurses, and 1000 allied health staff all in the next year.
"At the end of the day, this year is an election year and we need significant healthcare funding for our community," Australian Medical Association Queensland president Dr Nick Yin said.
For crime, $1.3 billion has been put aside over five years to fund 900 extra police personnel, more wands and Tasers, and $261 million for a rehab centre inside the Woodford Youth Detention Centre.
With Queensland's population expanding and housing stretched, there's a goal of building more than 53,000 homes within the next 22 years.
The public service will expand from 259,000 employees to 267,000 within a year.
