Leading economists warned the State Government that raising royalty taxes - without warning - would cost Queensland future Investment and Jobs.
And they were right.
Already, more than $2 billion dollars of much-needed Queensland investment has been cancelled*1 at a cost of more than 2,000 Queensland jobs*2.
Additionally, more than $100 billion of mining investment - including the minerals needed for renewable energy may now be at risk*3.
This unprecedented tax hike has damaged Queensland's reputation as a reliable and competitive place to invest.
It's already cost Queensland billions of dollars of investment and thousands of jobs - the Government needs to work with Industry to protect the future of Queensland's economy.
Sources: *1The Australian, 8th Dec 2022; *2ABC, 8th Dec 2022 and *3QRC estimations based on Australian Government Department of Industry, Science and Resources reports.