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The Queensland Resources Council (QRC) has again responded to the Queensland Government’s decision to impose the world’s highest royalty taxes on coal producers.

QRC chief executive Ian Macfarlane said that regional Queenslanders will feel the loss of investment and jobs in the resources sector the most, and regional Queenslanders are still waiting on the promised spending boost to services and infrastructure from the extra billions of dollars the coal royalty tax is delivering to the Queensland Government.

“While the Queensland Government has publicly announced a long list of major regional projects, from hospitals to pipelines and community facilities, so far there’s been very little specific funding committed to these projects over the next four years,” Macfarlane said.

“Increasing Queensland’s coal royalty tax rate to five times that of New South Wales is already causing great uncertainty in many regional towns and resources communities that rely heavily on the ongoing prosperity of the resources sector for their jobs and livelihoods.”

Macfarlane said that the pipeline of future resources projects to secure local jobs and economies is now at risk.

“The latest conservative estimates indicate Queensland’s excessive new coal royalty rates will generate more than $5 billion extra for the Queensland Government this financial year,” Macfarlane said.

“The cost to long-term investment and jobs in Queensland’s resources sector over the next five to ten years from this decision will be absolutely devastating.”

Macfarlane expressed concern that the Queensland Government’s decision may damage the state’s reputation as a reliable place to invest in new and established resources projects which focus on coal, rare earths, critical minerals, and hydrogen.

“The QRC is once again calling on the Queensland Government to review its decision to introduce higher taxes on the coal sector, and to sit down and work with the resources industry and the communities who rely on us for jobs and business opportunities,” Macfarlane said.