Commentary
Queensland Treasurer Cameron Dick is launching a $1.5 million (US$1 million) advertising campaign to fend off the Queensland Resource Council’s pursuit of him over his increases to Queensland’s coal royalties.
He probably thinks it is money well spent.
However,  the Queensland government should be embarrassed by the whole policy. The coal royalty reflects poorly on the state both in its conception and its execution and elevates state sovereign risk to South American levels.
And the additional revenues raised appear to have been squandered to keep the government in power after the next election, due in October 2024.
Originally calculated by Treasury to add $765 million to state government coffers in 2022-23, the increase added $5.7 billion—750 percent higher….