The LNP will introduce amendments into Parliament today to legislate a 10-year royalty guarantee.
LNP Deputy Leader and Shadow Treasurer Tim Mander said the LNP’s amendments would freeze royalties to provide industry with the certainty needed to unleash investment, create jobs and boost exports.
“I’m calling upon Annastacia Palaszczuk to back the LNP’s amendments that will help get Queensland working again,” Mr Mander said.
“The LNP’s 10-year royalty guarantee is part of our plan to stimulate the economy, create a decade of secure jobs and drag Queensland out of this recession.
“Before coronavirus, Queensland already had the nation’s highest unemployment, most bankruptcies and lowest businesses confidence.
“Queensland is a resources state and we need to provide industry with the confidence to invest, construct and create jobs.”
Mr Mander said under Labor, Queensland has fallen to 15th place on the Fraser Institute Annual Survey of Mining Companies investment attractiveness behind Western Australia (1st), South Australia (6th) and the Northern Territory (13th).
“Last year Annastacia Palaszczuk hiked petroleum royalties by 25 per cent, pushing the state into having the highest royalties in the nation,” Mr Mander said.
“All Queensland has got from five years of Labor is higher taxes, more debt and more unemployment.
“The LNP will start work on opening up new resource projects as a major new economic driver for Queensland, invest in new infrastructure to create more jobs and stimulate the economy and we will guarantee a 10-year royalty freeze.
“Our economic plan will create a decade of secure jobs to get Queensland working again.”