Queensland’s budget will return to surplus in four years driven by an improving economy, while a doubling in value of the state’s Titles Registry will help the Palaszczuk government begin to pay down the state’s escalating debt.

A worsening Australia-China trade relationship has hit coal royalties – down more than 50 per cent this financial year – but an improving economy and extra GST revenue has boosted revenue by $11.7 billion over the next four years.