As coal and property prices soar, Treasurer Cameron Dick faces twin revenue windfalls — and their potential benefit to the state — as he hands down the Palaszczuk government’s eighth budget on Tuesday.
flagged a post-COVID transformation of the state’s $234 million operating surplus into an $8.63 billion deficit that would ease to $1.39 billion within three years.for the 2022-23 financial year after downward revisions in the past two economic statements due to increased transfer duty, tax receipts and fossil fuel revenue.
The lobby group has also claimed the move broke a Palaszczuk government re-election promise for no new fees and taxes, something Dick has denied — telling reporters last week the pledge was to “the people of Queensland”, not “big multinational corporations” or their domestic counterparts.“They’ve made billions and billions of dollars through record high coal prices,” Dick had said of coal companies.
Early lifts in property market activity had already led forecasts of a $1.5 billion boost to taxation revenue in the current financial year, driven largely by transfer duty receipts, even before Brisbane led the nation with itsIn a statement last week, QCOSS chief executive Aimee McVeigh said while the government’s funding last year —
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