State Treasurer & Business Community at one with concern over the Resource Super Profits Tax

Friday 21 May, 2010 | Tags: Economic Policy

Statement by CCIQ President David Goodwin

Chamber of Commerce and Industry Queensland (CCIQ) has today welcomed the State Treasurer, Andrew Fraser's recognition of the serious impact that the Resource Super Profits Tax will have on the Queensland Economy.

In speaking to the Queensland business community at a CCIQ function today, the Treasurer noted and expressed similar concerns over the potential impact that the RSPT will have.

The State Treasurer and business community are at one in supporting moves to review the profit threshold in which the RSPT will kick in for mining companies.

CCIQ President David Goodwin said that this matter needs to be resolved immediately before it impacts further on investments decisions.

"The State Government has almost certainly connected the dots and realised that the RSPT wrecking ball will significantly impact on Queensland jobs.

"Furthermore there was acknowledgement of the impact that an RSPT will have on home affordability as building materials dramatically increase in price.

"CCIQ is heartened to hear that only this morning the State and Federal Treasurer's got together to commence progressing an outcome that will hopefully protect Queensland jobs.

"CCIQ sincerely hopes that these talks bear fruit and that the Federal Government's desire to consult is genuine.

"If this is the case then the only inescapable conclusion is that this super profits tax is not good for Queensland jobs, the economy and more broadly mums and dads through home affordability.

"CCIQ congratulates the State Treasurer in proactively representing the interests of the Queensland business community and ensuring the resources boom continues to buoy the State Economy.

"CCIQ over the coming weeks will continue its strong opposition to the proposed RSPT and will be lobbying all Federal parliamentarians to reject a tax that would ultimately cost us our future prosperity.