The Queensland Resources Council (QRC) is launching a campaign to warn residents in Rockhampton, Townsville, and Mackay about the potential long-term damage caused by the Queensland Government’s coal royalty tax increase.
QRC Chief Executive, Ian Macfarlane, said it’s important that Queenslanders living in these major regional centres are aware of the long-term damage, including threat to local jobs, that the royalty increase will cause.
“The resources sector is critical to jobs and economic growth right across regional Queensland,” Mr Macfarlane said.
In Mackay, the resources sector supports 38,200 jobs, which is 61 per cent of total local employment, and contributes $7.3 billion to the city’s economy.
In Rockhampton, the resources sector supports 10,500 jobs, which is 36 per cent of the total local employment and contributes $1.9 billion to the city’s economy.
In Townsville, the resources sector supports 7,100 local jobs and contributes $1.1 billion to the city’s economy.
Mr Macfarlane said the Queensland Government’s snap decision in 2022 to impose the world’s highest royalty taxes on coal producers is a serious threat to companies investing in the resources projects that will provide the jobs and economic contribution regional areas need to secure their future.
“We are taking that message directly to homes in each of these cities, so people know exactly what’s at stake as the coal royalty tax increase pushes resource investment to other states and countries with much lower royalty tax regimes,” Mr Macfarlane said.
“We encourage people to keep an eye out for the material that will be delivered to letterboxes to explain just how high the new royalty taxes are compared to our main competitors for investors, and the negative impact they are having.
“Thanks to the hard-working men and women working at mines and gas fields across Queensland, the resources sector kept the state’s economy strong during the global challenges of recent years, and the 2022 financial year contributed a record $94.6 billion.
“We want people living in Rockhampton, Mackay and Townsville to be involved in the conversation about the future of the resources sector, so our industry can continue to support regional jobs and economies for decades to come.”
