Greens want to mandate for higher global emissions, fewer Queensland jobs

31 July 2017

The Queensland Greens have yet again shown why they are hell-bent on destroying regional economies and jobs with their anti-mining agenda.

Queensland Resources Council (QRC) Chief Executive Ian Macfarlane said the Green’s Fair Share Plan for the Queensland resources industry would overnight see coal royalties almost double and gas royalties increase fivefold.

“This policy would increase global greenhouse gas emissions with more lower quality, higher emission coals sourced from Indonesia and India to replace the Australian coal production,” Mr Macfarlane said.

“Raising coal royalties for existing mines to 18.75% would severely damage Queensland’s sovereign risk profile at a time when unemployment rates in the regions are already in the double digits.”

The Queensland Greens again lift the voodoo economics of The Australia Institute (TAI) claiming the resource sector is heavily subsidised. However, a 2014 report by Castalia Strategic Advisors undertook a review of TAI’s report and found it applied ‘a flawed analysis – based on a distorted understanding of public sector accounting – that grossly exaggerates the level of subsidy to the mining and resources sector.’

The weekend release of the Productivity Commission’s (PC) latest industry assistance review also confirmed resource companies receive ‘negligible’ government assistance. The report states that the effective rate of combined assistance for the mining industry is just 0.2 per cent, having fallen by half a percentage point since 2010-11.

“The Greens keep talking about subsidies to mining, when no credible analysis has ever been able to identify subsidies,” Mr Macfarlane said.

“With a $2.8 billion surplus in 2016-17 it is difficult to ignore the fact that coal royalties surged by 97 per cent or an extra $1.897 billion to deliver the highest surplus in a decade.”

Last year the Queensland coal industry injected $32.7 billion into the state’s economy, underpinned more than 183,000 jobs and directly supported more than 450 community organisations, the Green’s policy will mean coal mines are more likely to be closed.

Media contact: Anthony Donaghy 0412 450 360