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QRC: Higher taxes on resources sector is not the way

THE Queensland Resources Council has urged the public to reconsider a populist belief that higher taxes on the resources sector was the answer to getting the State out of debt.

QRC chief executive Michael Roche said that the sector was confronting tough economic problems of its own with 8000 jobs in coal mines already lost.

He added that Queensland had close to the world's highest taxation rate for coal following huge royalty hikes by the Bligh Labor government in 2008 and in Treasurer Nicholls' first budget in 2012.

The Government did pledge in that budget not to increase the tax on coal for the next decade and Mr Roche is hopeful they will keep their word come June.

He said the best way to boost the resources sector's contribution to government coffers was to promote growth in the sector.

Topics:  business mining tax qrc resources sector taxation



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