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New attempt to drive down coal royalty taxes

March 16, 2023 7:06 am in by

The Queensland Resources Council (QRC) is taking its message about the threat to local jobs from the Queensland Government’s coal royalty tax increase directly to homes in Rockhampton, Townsville and Mackay.

QRC Chief Executive Ian Macfarlane says it’s important Queenslanders living in these major regional centres are aware of the long-term damage the royalty increase will cause.

“The resources sector is critical to jobs and economic growth right across regional Queensland,” Mr Macfarlane says.

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“In Mackay, the resources sector supports 38,200 jobs, which is 61 per cent of total local employment, and contributes $7.3 billion to the city’s economy.

“In Rockhampton, the resources sector supports 10,500 jobs, which is 36 per cent of the total local employment and contributes $1.9 billion to the city’s economy.

“In Townsville, the resources sector supports 7,100 local jobs and contributes $1.1 billion to the city’s economy.

“The Palaszczuk Government’s snap decision last year to impose the world’s highest royalty taxes on coal producers is a serious threat to companies investing in resources projects that will provide the jobs and economic contribution regional areas need to secure their future,” Mr Macfarlane says.

“We are taking that message direct to homes in each of these cities, so people know exactly what’s at stake as the coal royalty tax increase pushes resources investment to other states and countries with much lower royalty tax regimes.

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“We encourage people to keep an eye out for the material that will be delivered to letterboxes to explain just how high the new royalty taxes are compared to our main competitors for investors, and the negative impact they are having,” Mr Macfarlane says.

“Thanks to the hard-working men and women working at mines and gas fields across Queensland, the resources sector kept the state’s economy strong during the global challenges of recent years, and last financial year contributed a record $94.6 billion.

“We want people living in Rockhampton, Mackay and Townsville to be involved in the conversation about the future of the resources sector, so our industry can continue to support regional jobs and economies for decades to come.”

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