OUR FAIR SHARE PLAN
The Queensland Greens believe that mining corporations should pay their fair share for selling our resources. We will raise $26 billion over five years by raising coal and gas royalties. This will raise an extra $19.7 billion above existing royalties and ensure we have the money to build a better future for all Queenslanders.
We will raise this extra money while still banning the expansion of coal and gas operations in Queensland. In comparison, Labor’s plan relies on expansion of dangerous thermal coal and gas. In other words, our plan raises $26 billion over five years and leads to a reduction in coal and gas production. Labor’s plan raises $6.3 billion and leads to an increase in dangerous coal and gas.
The Queensland Greens will:
- Increase the coal royalty rate from the current 7% to 18.75%
- Establish the 18.75% rate as the flat rate regardless of the market price of coal
- Increase the gas royalty rate from the current 10% to 18.75%
- This will be levied via the net back method
- Eliminate all state government subsidies to mining corporations, which we estimate totals $1.3 billion a year.
- Announce a commission of inquiry into gas corporations dodging tax in Queensland and closing tax loopholes
- Ban the expansion of coal and gas in Queensland.
You can find more information, including detailed costings, on our Fair Share Plan at greens.org.au/qld/fairshareplan