Media Release: Qld Labor haunts coal mining sector

Former Treasurer Cameron Dick knew his royalties rip-off would cost Queensland its fair share of GST funding, setting aside around $2.5 billion as a contingency – but instead of investing the money wisely, he squandered it on a failed hydrogen project.

Coal Australia CEO Stuart Bocking said the newly elected Crisafulli government had been sabotaged by Cameron Dick and Queensland Labor, with the state’s increased coal royalty rates now being used to penalise Queenslanders through a reduced allocation of GST funding.

“Queensland is set to lose $5 billion in GST funding, with the Victorian Labor government pilfering the bulk of the funds, in what has become a Victoria Levy imposed on every Queenslander,” Mr Bocking said.

“It’s ridiculous to imagine that Queensland mining jobs and investment are now threatened because of Queensland Labor’s coal royalty hikes, while Victorian Labor is rewarded for imposing the world’s longest lockdowns and crippling that state’s economy with wasteful spending”.

Federal Treasurer, and Queenslander, Jim Chalmers, has washed his hands of the funding mess, in what is a massive hospital pass to the new Crisafulli-LNP government.

“This interstate tax transfer is akin to having the AFL Grand Final relocated from the MCG to Rockhampton. Victorians would quite rightly be outraged, and so should Queenslanders in this case,” Mr Bocking said.

The coal royalty hikes are forcing some Queensland operators to consider halting their mining operations, while prices remain subdued, and the royalties push them into a loss-making position.

“Coal Australia wants to work with the Crisafulli government, in a consultative manner, to deliver a fairer royalty regime that also actively promotes mining jobs and investment, reduces sovereign risk, and protects Queensland’s share of the GST.”

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