Queensland resource industry back LNP’s plan

Friday, 24th July 2020

Queensland’s peak industry body representing the state’s miners, mineral processors, explorers, contractors, oil and gas producers and electricity generators has endorsed the Liberal National Party’s plan to freeze royalties for a full ten years.

In its submission to the Palaszczuk Labor Government’s Royalty Legislation Amendment Bill 2020 the Queensland Resource Council (QRC) called on the Labor government to follow the LNP’s lead on resources policy*.

LNP Leader Deb Frecklington said QRC’s endorsement of the LNP’s stance on royalties was further proof of its ambitious plan to stimulate the economy, create a decade of secure jobs and drag Queensland out of this recession.

“Our vision is to make Queensland the economic powerhouse of Australia once again, the best place to get a job, get ahead and raise a family,” Ms Frecklington said.

“One of the major foundations of the LNP’s plan to plan for a stronger economy and secure jobs is based upon supercharging our regions and growing and supporting the state’s all-important resources sector is central to that.

“A centrepiece of the LNP’s economic plan for Queensland is a 10-year freeze on resource royalties – a proposal that the industry says will unlock investment for the job creating sector.”

LNP Shadow Minister for Natural Resources and Mines Dale Last said that voters face a simple choice on October 31 between a Deb Frecklington led LNP government that backed our resources industry or Annastacia Palaszczuk’s dithering job destroying agenda under Labor.

“While the Palaszczuk Labor Government’s agenda for resources in Queensland is to delay projects and increase royalties, the LNP has committed to no new taxes and a 10-year royalty freeze,” Mr Last said.

“The LNP has also announced its comprehensive plan to ‘Boost the Basin’ and bolster existing resources projects and to kick start new mining to secure jobs for Queensland.

“The LNP is the only party that has a plan to create a stronger economy and more secure jobs.

“The LNP’s economic plan will create a decade of secure jobs to get Queensland working again.”    

The key elements of the LNP’s plan to ‘Boost the Basin’ and secure resource jobs are:

  • A 10-year royalties guarantee to provide investment certainty for the resources industry.
  • A new Queensland Resources Industry Commissioner to promote the state to international investors (a position terminated by the Palaszczuk Labor Government).
  • A faster approvals process, with key performance indicators tracked and published to restore industry confidence in the Queensland Government.
  • A new Queensland Infrastructure Fund to collect and invest all royalties from the Galilee Basin in new infrastructure across Queensland.

* QRC submission to the Royalty Legislation Amendment Bill 2020 https://www.parliament.qld.gov.au/documents/committees/EGC/2020/RLAB2020/submissions/015.pdf

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