The Crisafulli LNP Government refuses to provide cost of living relief despite the state set to pocket an extra $1 billion in royalties over the next 12 months.

The ongoing conflict in the Middle East has driven up fuel costs, however rising commodity prices are expected to bring in a windfall of around $1 billion in extra royalties over the forecast revenue.

Labor introduced the progressive coal royalty system to fund cost of living relief and boost hospital upgrades and state infrastructure.

Despite the expected $1 billion in increased revenue, the Crisafulli Government has refused to provide cost of living relief to Queenslanders.

On Friday, the Crisafulli Government increased the cost of vehicle registration by more than 20%.

Queenslanders will be charged more to register and fill up their car, while the LNP Government pockets hundreds of millions in extra revenue.

Queenslanders deserve cost of living relief, not another cash grab from the LNP.

Quotes attributable to Opposition Leader Steven Miles:

“David Crisafulli is raking in the cash while Queenslanders rack up debt just to pay their fuel bill.

"Trump’s War will have long lasting, crippling economic impacts - impacts that the LNP is making at least a billion dollars in profit off.

"The Treasurer said he wouldn’t profit off Trump’s War so this royalty bonus should go back to Queenslanders who are copping unrelenting affordability pressures right now.

"The only thing the Crisafulli LNP Government has done for cost of living relief since coming to government is cut it."

Quotes attributable to Shadow Treasurer Shannon Fentiman:

“When inflation was at its highest, we stepped up to provide real cost of living relief for Queenslanders because it was the right thing to do.

“Now interest rates have again risen, the price of fuel continues to increase and yet the LNP are raising the cost of registration.

“It shows just how out of touch this LNP Government is. It’s time to do something David.

Background

Queensland Treasury forecasts $1.115 billion to be collected in royalties for 2025/26 based on a Brent Crude Oil average of US$65/barrel.
In 2024-25, $1.69 billion was collected from petroleum royalties, when the Brent crude average was US$81/barrel.Since the start of the conflict in the Middle East, Brent Crude Oil has moved above US$100/barrel.
Royalties from Coking Coal is forecast to bring in $5.4b in revenue at an average price of US$192.
The coking coal price hasn’t been down to US$192 since the start of October. The 2025-26 Budget’s royalty sensitivity analysis says “A one per cent variation in the average price of export coal would lead to an estimated change in royalty revenue of approximately $100 million.” This is likely conservative given higher prices attract higher rates under the new tiers.An average price of US$201 for Coking Coal and an average of US$81 for Brent Crude Oil, royalties would bring in more than $1 billion in extra revenue this financial year.

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