Media Release: GST funding carve up confirms Queensland Coal Royalties pain
Queensland’s coal mining communities are carrying the world’s highest and least competitive royalty rates while also propping up a broken GST system that rewards financial recklessness. [1]
The latest figures from the Commonwealth Grants Commission confirm that Queensland’s coal royalties will directly result in a $5 billion dollar cut to Queensland’s GST allocation, instead bailing out Victorian Labor’s wasteful spending.[2]
Coal Australia CEO Stuart Bocking said the Queensland coal sector’s royalties pain has become Victorian Labor’s GST funding gain.
"Former Queensland Treasurer, Cameron Dick, has left his state labouring under this Victoria Levy. The new Crisafulli government should not allow a single Queensland mining job to be put at risk to reward a Victorian government that has spent years squandering taxpayers’ money," Mr Bocking said.
"Queensland coal jobs are now under threat unless the Crisafulli government ends this interstate wealth transfer and restores a more modest coal royalties regime to promote local mining investment and employment while preserving Queensland’s share of GST funding”.
The Allan Government’s track record in Victoria includes:
- $40 billion dollars in infrastructure cost blowouts.[3]
- More than half a billion dollars spent not to host the Commonwealth Games.[4]
- A taxpayer-funded bronze statue of Daniel Andrews.[5]
The Commonwealth Grants Commission has confirmed that Queensland will continue to be short-changed on GST funding while ever it remains wedded to the highest coal royalties in the world.
“Now is the time to right that wrong and ensure that Queensland gets its fair share of GST funding by restoring a fairer, more modest royalties take on coal,” Mr Bocking said.
Coal Australia urges all Queenslanders to lobby their local MP today. Demand an end to Queensland Labor’s Victoria Levy – it is threatening coal sector jobs, stifling investment, and funnelling Queensland funds to failed economies south of the border.
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[1] https://www.afr.com/policy/economy/debt-laden-victoria-becomes-gst-net-winner-for-first-time-20250314-p5ljje
[2] https://www.dailytelegraph.com.au/news/queensland/shock-plan-to-strip-5bn-gst-revenue-from-qld-coffers/news-story/51f51f2b4ec77122a0ed23bb5e6883db?btr=3246f970cb0b2af140d81b953c62e903
[3] https://www.afr.com/politics/federal/victoria-s-four-biggest-big-build-blowouts-20241127-p5ktun
[4] https://www.theguardian.com/sport/2024/mar/20/victorias-scrapped-2026-commonwealth-games-cost-589m-in-significant-waste-of-taxpayer-money-auditor-general-says
[5] https://www.dailymail.co.uk/news/article-14353395/Dan-Andrews-statue-Melbourne.html