why should a private company who takes all the risk extracting a resource, which in turn generates employment opportunity and a fundamental energy source (the lifeblood of civilisation) pay elevated levels of "royalties" to a bunch of bureaucrats whose life experience includes teaching in a primary school, so that they can squander the money on boondoggle projects and continually expand an ever bloated public sector (whose efficiency is sub 1%) whilst giving money to their cronies who have their ear..?
The latest boondoggle occurred in NSW where the taxpayer is paying $25m on a flagpole. Yes a flagpole. Sorry but I am of the opinion money given back to shareholders or retained in private companies is of much greater value than a $25m flagpole.
In your example the government could take the royalties and invest in the stock market via a SWF, but of course if the money was given back to shareholders they themselves can choose to invest it how they like. What you are advocating for is theft from shareholders and distribution to bureaucrats
btw my criticisms are non partisan in nature, its just that QLDs taxes would make chairman mao blush
SMR Price at posting:
$1.94 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)