MANAGEMENT

Qld royalty hikes cause business confidence to plunge

THERE has been a dramatic drop in business confidence in Queensland’s resources sector over the past 12 months following the sudden decision last year to increase coal royalty tax rates to the highest in the world, according to a survey of Queensland Resources Council members.

QRC CEO Ian Macfarlane said the drop in confidence in the industry’s future had substantially impacted expansion plans for the sector.

QRC CEO Ian Macfarlane said the drop in confidence in the industry’s future had substantially impacted expansion plans for the sector.

The QRC State of the Sector report for the December quarter shows 60% of resources chief executives are less confident about the sector's future compared with 10% last year, representing a five-fold negativity...

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