Queensland royalties held to ransom

by Ted Sorensen
Comments are off for this post.

LNP Leader Deb Frecklington has called on Premier Annastacia Palaszczuk to immediately intervene in a coal network rail maintenance dispute that could cost Queenslanders more than $500 million in royalty revenue and countless jobs.

“The Queensland Competition Authority’s retrospective regulatory changes mean 20 million fewer tonnes of coal (worth approximately $4 billion) will be exported every year for the next four years. That’s $500 million of royalty money directly out of the pockets of Queenslanders,” Ms Frecklington said.

“A $500 million cut to royalties is a $100 cut for every man, woman and child living in Queensland in the next State Budget. That’s less money for our local schools, health services and our roads.

“While all of this may sound like technicalities around train line maintenance, it has real world impacts.

“Our royalties shouldn’t be held to ransom.  Annastacia Palaszczuk needs to act to fix Treasurer Trad’s bungled regulatory process that’s putting royalties and jobs at risk.”

LNP Shadow Mines Minister Dale Last said Premier Annastacia Palaszczuk was a member of the Labor Cabinet that sold Queensland’s coal rail network.

“It’s now time for her to take responsibility for selling our assets and get her Labor Government to step up and take responsibility,” Mr Last said.

“Labor should have never sold the central Queensland coal network.”

“As Minister for Trade, the Premier should also explain the impact this decrease in coal exports and cost efficiencies is already having on our international trade partners.
“It’s time to show leadership and deliver some certainty to Queensland’s vitally important resource sector that contributes more than $55 billion to the state’s economy.

“We cannot have a situation with the upcoming budget where there is a $500 million black hole in royalty revenue because of a state government regulation implementation dispute.

“Queenslanders shouldn’t miss out on royalties or have jobs in the resources sector put at risk.”

Share this article

Comments are closed.