Labor must rule out royalty increase

Tuesday, March 3, 2020

Today Jackie Trad has continued her ideological war against the mining industry by flagging she may raise royalties in the upcoming budget, to plug her budget black hole.

LNP Shadow Minster for Natural Resources and Mines Dale Last questioned the Treasurer’s timing given a recent report from the state’s independent auditor pointing to the Palaszczuk Labor Government’s 11 per cent expense blowouts.

“Clearly dodgy Jackie Trad is desperate to plug her budget black hole and royalties are right in her sights,” Mr Last said.

“We know that when you increase taxes on businesses it directly costs jobs.

“Royalty certainty creates more investment and more local jobs. You can’t tax your way to growth.

“With Queensland’s resources industry employing up to 260,000 indirect jobs or 1 in 8 of the state’s jobs, this news will send a shiver down the spine of resource workers or anyone living in a regional community.

“We have already seen Queensland losing ground in the latest global survey of mining companies and investors, falling two places to number 15 in the world for investment attractiveness.

“Annastacia Palaszczuk needs to show some leadership and guarantee royalties won’t be raised by Labor.

“Labor’s anti-resources, anti-regions and anti-jobs agenda is hurting regional Queensland like never before.

“In contrast, the LNP supports mining and the thousands of local jobs provided by Queensland’s resources industry, which ensures the survival of many regional communities.

“Only a Deb Frecklington LNP Government will encourage more investment and provide royalty certainty for 10 years to secure more local jobs and provide better job security.

“It’s time for Labor to give certainty to rural and regional Queensland by ruling out royalty increases”.

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