According to independent consultancy Commodity Insights, the Qld governments' royalty increase means it is now 5 x the rate of NSW.
This has significant implications for Queensland investment, projects (particularly those in renewables and clean energy) and jobs.
We have already seen vital Queensland projects either shelved, put on hold or start to move to other States/jurisdictions where the tax regime encourages rather than discourages investment.
For the sake of Queensland's future prosperity, the government must reconsider this tax.