Ann: Investor Presentation March 2024 Quarterly Update, page-53

Might be.

Qld Gov has cut a lot of spending too in the form of canceled projects where the federal government would not match the funding requirements. The campaign to remove/reduce the super mining tax is lobbed squarely at QLD voters. Maybe the plan is to reverse the tax before the election. 30% federal tax + 40% QLD gov revenue tax is a bit of a touch IMO. Can't last forever and I remember seeing somewhere it was just for a few years to pay for the Olympics.

There was a $10b fall in coal royalty revenue announced in the 23-24 budget which they attribute to lower prices in the preceeding 10 months. Looking at the graph below, I can't see how they attribute the decline purely on price for the preceeding 12 months.

There seems to be more to this story or Most likely CR.