The increase in coal royalty rates announced today by the NSW Government is just another example of a Labor budget on the run.
The Treasurer is attempting to fill holes is his upcoming budget with knee-jerk measures that don’t need to be done right now, and that will potentially harm one of our most valuable export sectors in the long run.
The reality of this move will mean a 30 per cent impact on coal producers across the State, which would be difficult for any business.
It raises concerns about the future of a sector that provides three quarters of the State’s power on a daily basis and employs thousands of people in regional areas.
The NSW Government needs to ensure these jobs won’t be affected by this drastic change and that there is no long-term impact on the industry.
