Coal Industry Remains Up In Arms About Taxes

In the wake of Queensland Government state coal royalty tax increases in the June State Budget, there was uproar from mining giants.

But now an independent body representing the commercial resources sector is jumping onboard the criticism train: The Queensland Resources Council (QRC) are calling on the Palaszczuk Government to review the decision.

QRC have queried the state government over their choice to increase the tax to what are the highest rates in the world – all with no consultation to industry.

“Earlier this year, and almost overnight, the State Government increased Queensland’s top coal royalty tax rate from 15 percent to 40 percent,” QRC Chief Executive Ian Macfarlane said.

“This is an outrageous impost on our industry, which was done with no consultation or consideration of the damage this will do to regional communities, which rely so heavily on the employment and business opportunities that come from the resources sector.”

Premier Annastacia Palaszczuk and her ministers have been stalwart on the decision, though, even with it receiving staunch opposition upon announcement and in the months since.

“I believe that Queenslanders are on our side,” she said.

“Queenslanders will see that some of these companies are making billions of dollars, coal’s being exported overseas and we can reinvest that money for Queenslanders into hospitals and schools and regional Queensland.”

‍