Queensland budget a missed opportunity, says QRC chief
- 25 June 2025
Queensland Resources Council (QRC) CEO Janette Hewson says the state’s latest budget represents a lost opportunity to outline a bolder plan to rebuild investment in its resources sector.
She says global demand for Queensland’s mineral resources remains strong, “but only if the government can deliver a long-term plan for the state that encourages capital investment rather than simply using the sector to fund its debt short term”.
Hewson, a keynote speaker at this year’s IMARC 2025 conference in Sydney in October, said this week’s state budget revealed the extent of the economic challenges facing Queensland and an urgent need for a long-term economic plan.
“The resources sector has underpinned Queensland’s economic prosperity and could continue to do so for decades to come,” she said.
“Resources sector royalties allowed the governments to support Queenslanders through measures like 50c bus fares and energy rebates as well as helping fund the hospitals, roads, police and public services we all rely on.”
However, the QRC says royalties generated by Queensland resources fell from A$12.8 billion last year to $7.9 billion this financial year, “along with investor sentiment which the sector suggests is at an all-time low”. Lower coal prices had reduced mining revenue to the state. The council said rising operational costs and the “world’s highest coal royalties” meant Queensland miners were under threat.
“It’s concerning to see the government extend current royalty rates in the forward estimates to 2028-29,” Hewson said. “This is a continuation of a bad policy that started with the previous Labor Government and is being adopted by the new LNP Government to the detriment of all Queenslanders.
“Moves to streamline approvals and recent comments from the Queensland Government about opening our state up for business have been welcomed by industry but the groundwork must be laid with supporting policies and fairer taxation to regain investor confidence.”
Hewson said continuation of investment in a skills pipeline for the resources sector through the Queensland Minerals and Energy Academy was among positive elements of the latest state budget.
It also outlined plans to accelerate minerals exploration and provided funding for Queensland’s Common User Facility, CopperString, the Electricity Maintenance Guarantee and Transforming Queensland Manufacturing Program.
