12 June 2023The Queensland Resources Council (QRC) has today released a new campaign to ensure all Queenslanders know just how much the State Government’s royalty tax increase is costing them.QRC Chief Executive Ian Macfarlane said the resources industry was backing the next phase of the Keep Queensland Competitive campaign to show the negative consequences of the royalty tax for new investment and jobs in Queensland’s resources sector.“Economists warned the new royalty rates would cost Queensland investment and jobs – and they have,” Mr Macfarlane said.“The royalty tax hikes have already cost Queensland a new $2 billion investment which would have created more than 2000 jobs.“Figures from Australian Government Department of Industry, Science and Resources reports show there is a pipeline of new projects worth more than $100 billion including investments in the minerals needed for renewables and lower-emissions technologies. Those projects could be at risk if Queensland continues with its uncompetitive royalty rates.
