Ann: Investor Presentation March 2024 Quarterly Update, page-112

Well said, hightrax. It’s also a concern that Opposition leader Crisafulli (almost certain to win the State election in October) has not committed to any reform of Queensland’s extortionate coal royalty regime. On the contrary, he’s promised (stupidly, in my view) to adopt Labor’s budget in full.

I accept that this may all be a decoy to hide his real intentions once he’s elected to office, but there must also be a chance that he means what he’s said (unusual for a politician, I accept). No doubt Crisafulli recalls how Campbell Newman was torn to shreds within a single term as Premier after pursuing a radical and unduly hasty ‘slash and burn’ approach, which most people saw as too much, too soon.

That said, the coal companies and business more generally need to apply some real pressure on Crisafulli to reform the royalties regime within his first term of government. The goal should be to bring them in line with the royalties imposed by other jurisdictions, both in Australia and internationally.