RSPT Will Damage Queensland's Future

The Resources Super Profits Tax (RSPT) proposed by the federal government in Australia on the mining industry is likely to cost the Australian economy more than it benefits it. This has been the main argument of all the critics of the RSPT.

Now in the latest installment of criticism on the RSPT the Queensland Resources Council (QRC) has thrown its hat into the ring. A survey QRC conducted has revealed that members of the QRC say that the tax would threaten half of the proposed expansions and start ups in the state.

According to 46% of the respondents existing operations may be require scaling back to remain viable, while 16% are considering shutdowns. This would involve the loss of 10,000 construction jobs and 4,500 operational jobs.

QRC has also launched an advertising campaign to warn fellow Queenslanders that the resources super profits tax may rob them and the state of a period of resource industry growth and opportunity.

The Queensland Resources Council is a not-for-profit peak industry body representing the commercial developers of Queensland's minerals and energy resources.

Joel Scanlon

Written by

Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, web programming, design, animation, database and networking, software and editing. Joel has been with AZoNetwork since its inception in 2000.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Scanlon, Joel. (2019, March 19). RSPT Will Damage Queensland's Future. AZoMining. Retrieved on November 21, 2019 from https://www.azomining.com/News.aspx?newsID=54.

  • MLA

    Scanlon, Joel. "RSPT Will Damage Queensland's Future". AZoMining. 21 November 2019. <https://www.azomining.com/News.aspx?newsID=54>.

  • Chicago

    Scanlon, Joel. "RSPT Will Damage Queensland's Future". AZoMining. https://www.azomining.com/News.aspx?newsID=54. (accessed November 21, 2019).

  • Harvard

    Scanlon, Joel. 2019. RSPT Will Damage Queensland's Future. AZoMining, viewed 21 November 2019, https://www.azomining.com/News.aspx?newsID=54.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit