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Queensland’s coal royalties soar to a record breaking $3.8bn
June 12, 2018
News Vanessa Zhou
Queensland’s coal royalties reached a record breaking contribution of $3.8 billion for 2017-18 to the State Budget, up from a previous record of $3.4 billion in 2016-17.The boost in royalties will pay for the Palaszczuk government’s infrastructure and vital services such as health and education.
Along with the increased contribution from minerals and LNG, the overall resources sector experienced a hike in royalties which amounted to $4.3 billion this financial year. With a boost expected from petroleum and minerals, the Budget forecasted further climb in total royalties next financial year up to a total of $4.5 billion