The current Palaszczuk Government must rule out any change to the royalty rates applied to the Queensland resources industry or risk undermining 14,000 Queensland businesses and 315,000 Queensland jobs.
The Queensland Resources Council and regional advocacy group the Resources Industry Network have warned the Palaszczuk Government that uncertainty about the rate of royalties applied to resource commodities such as coal was creating concern across the industry particularly the small business suppliers to resource companies.
QRC Chief Executive Ian Macfarlane and RIN General Manager Adrienne Rourke said the Palaszczuk Government has not ruled out a change to royalty rates in the State Budget on 11 June, despite receiving record royalty revenue and hearing union warnings about the loss of jobs if rates were changed.
“The Palaszczuk Government will receive more than $5 billion in resource royalties this financial year. That’s a record Budget contribution from our industry,” he said.
“On top of that, resource companies are spending almost $20 billion each year with 14,200 businesses.”
“An attack on the resources industry is an attack on those businesses, it’s an attack on those jobs and frankly, an attack on Queenslanders, particularly regional Queenslanders.”
“The Palaszczuk Government needs to understand that the benefits of mining flow through communities and across the State right into its coffers in Brisbane.”
Ms Rourke said the resource industry, the METS (mining equipment, technology and services) sector and the greater Mackay region were looking for a clear statement of support from the Government on resources.
“The Palaszczuk Government’s ongoing refusal to rule out a royalty increase when coal royalties are already setting revenue records is tricky, mean-spirited and out of touch.”
“RIN is holding its awards ceremony in Mackay tonight. It’s a celebration of the very best in the supply chain and showcases the ingenuity of the world class METS sector that is based in Mackay, servicing the Bowen Basin.”
“The RIN awards show that there’s a real sense of optimism in the region, as the supply chain is busy and growing again. That precious small business optimism can be fragile if they see the Government as indifferent to their challenges.”
RIN and QRC said they welcomed reports Premier Annastacia Palaszczuk had met central Queensland MPs to hear their concerns first hand.
“We add our voice to also urge the Premier to issue a clear statement of support for the resource industry. The Premier already has five billion good reasons in the bank not to increase royalties. She’s already collecting $1000 in royalties on behalf of every one of the five million Queenslanders,” Mr Macfarlane said.
“Uncertainty on royalties doesn’t just affect the industry, it affects the supply chain, regional communities. We call on the Premier, as Trade Minister, to stand up for her most valuable export industry and rule out a royalty increase.”
