Labor failed to make an evidence-based argument that would protect and if possible increase Queensland’s share of the GST pie. This isn’t surprising given Labor’s economic track record.
Let’s not forget Annastacia Palaszczuk didn’t even know what the GST rate was when she became Premier.
The most recent decision from the independent Commonwealth Grants Commission recommended that our overall share of GST reduce from 23.8% to 22% of the national pool. In this determination, the Commission ruled that Queensland’s fiscal capacity had strengthened due to a decrease in its net disaster relief payments and our relative capacity to raise mining royalties from coal production.
We don’t believe that Queensland should be punished for developing our natural resources, contributing to the national export economy and creating thousands of local jobs.
The Palaszczuk Government should have argued through the Productivity Commission’s review of GST distribution that royalties should be excluded from process.
The Western Australian Government argued for it, but the Queensland Government didn’t even mention in its submissions. In fact, the Queensland Government’s submission to the Productivity Commission were the shortest of every state and territory.
The submission from Tasmania were three times as long as Queensland’s and Western Australia’s was six times the length of Queensland’s submission.
Economists have suggested the Queensland submission to the GST “are articulated in theory and words and lack research and statistics to underpin them, which is surprising given the high calibre of Queensland Treasury individuals.”– Nick Behrens, 24 January 2018
The LNP will always fight for Queensland and ensure we get our fair share of funding. We don’t believe that our natural resources should be benefitting the southern states which have closed down the same industries and opportunities.
If elected, we will argue that our royalties should be exempted from GST consideration, so that resource states like Queensland and Western Australia aren’t penalised for developing their resources.
Why should people in inner-city Melbourne or Sydney benefit from Queensland’s resource industries when these people refuse to develop their own resources and actively oppose resource development in Queensland?
Queenslanders should receive the full benefit of Queensland’s resources.