The new Queensland state budget for the financial year is out!

With the release of the Queensland budget, several areas have emerged as clear winners, with housing, healthcare, education and infrastructure the biggest beneficiaries.

Social housing: The Queensland budget continues to support and drive housing demand, establishing a A$1 billion "Housing Investment Fund" to meet growing housing needs. Over the next four years, the Queensland budget will invest A$1.8 billion to increase the supply of social housing, upgrade existing homes, and provide housing services to the state's vulnerable groups.

Education facilities: Total education investment is expected to reach A$16.8 billion to improve existing education facilities and systems. By 2024, in addition to already-planned schools, nearly A$1 billion will be invested to open 10 new schools over the next two years; a further A$350 million will support commercial and research institutions.

Environment and new energy industries: An additional A$1.5 billion will go towards hydrogen and renewable energy research and development in Queensland, nearly A$300 million will be invested in reef water quality improvement projects, and a further A$60 million will be allocated to land restoration.

Health system: The budget announced the establishment of a A$2 billion hospital building fund to ease the growing pressure on the health system. A$177 million will go towards expanding patient care at Springfield Hospital.

Regional Queensland infrastructure: The government will direct 61.2% (A$14.7 billion) of its infrastructure works towards infrastructure development in regional areas.

Economy and employment: With the government having created a large number of jobs for residents during the pandemic, the unemployment rate is set to fall from 7% this financial year to 5% by June 2025. The government will contribute A$140 million over the next four years to the "Back to Work" program.

Government revenue: Driven by improved transfer duty, employment and business recovery, Queensland expects government surplus revenue to grow by 9.4% in 2021-22, with an average increase of 2.3% over the next three years.

Vaccine rollout: Investment in building more vaccination centres to increase the public's vaccination rate.