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Qld budget review ignores economic reality to predict increase in coal royalties

Media Release
Larissa Waters 15 Dec 2015

The Palaszczuk Government's budget review is deluded in predicting coal royalties will return to levels only seen at height of the mining boom.

"The Palaszczuk Government is deluded for thinking it can bank on coal into the future," Senator Larissa Waters Australian Greens climate change spokesperson, said.

The budget review forecasts $2.4 billion in coal royalties in 2018-19 - the same amount collected in 2011-12.

"The budget review forecasts a massive jump in coal royalties, despite the economic reality that coal is in structural decline and the global agreement in Paris to move away from fossil fuels.

"The budget review also locks Queensland into even more coal seam gas, despite the damage already done to regional communities and some of our state's best agricultural land.

"With Glencore, Anglo-American and Peabody all on the rocks, cutting jobs or closing mines, Queensland needs a transition plan away from coal and to 21st century industries, like renewable energy.  

"As coal companies shut down mines, it's coal workers who are hit hardest, followed by state governments who are regularly left to foot the bill for cleaning up toxic mine sites.

"The Greens have released a plan to transition to 90 per cent clean energy within 15 years and a $1 billion Clean Energy Transition Fund for workers.

"The Greens also have a plan to secure long term rehabilitation jobs for coal mine workers.  Our plan would make sure rehabilitation funds are paid up-front into a Federal Trust Fund for the companies to access at the conclusion of their operations.

"Adequately funding rehabilitation efforts will secure long term jobs in the same communities where coal workers are losing jobs," Senator Waters said.

The Greens' plan to care for coal workers: http://larissa-waters.greensmps.org.au/sites/default/files/caring_for_coal_workers.pdf

The Greens' plan to achieve 90 per cent renewable energy by 2030  http://renewaustralia.org.au/

 

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