RSPT Will Damage Queensland's Future

By Joel ScanlonJun 23 2010

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.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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APA
Scanlon, Joel. (2019, March 19). RSPT Will Damage Queensland's Future. AZoMining. Retrieved on November 21, 2024 from https://www.azomining.com/News.aspx?newsID=54.
MLA
Scanlon, Joel. "RSPT Will Damage Queensland's Future". AZoMining. 21 November 2024. <https://www.azomining.com/News.aspx?newsID=54>.
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Scanlon, Joel. "RSPT Will Damage Queensland's Future". AZoMining. https://www.azomining.com/News.aspx?newsID=54. (accessed November 21, 2024).
Harvard
Scanlon, Joel. 2019. RSPT Will Damage Queensland's Future. AZoMining, viewed 21 November 2024, https://www.azomining.com/News.aspx?newsID=54.