Mining companies to face hike in coal royalties, huge injection for health in Queensland budget

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Handing down his third budget, Treasurer Cameron Dick reveals Queensland will deliver a net operating surplus at the end of this month, thanks to surging coal and oil prices and a booming housing market.

Record coal prices will see mining companies face a hike to royalty rates, as the Queensland government announces a massive health injection in the state budget.

"We have listened to stakeholders in the health system who tells us that they need greater budget certainty to plan and deliver high-quality healthcare." However, the surplus is projected to slip to a $1 billion deficit the following two years, before returning to a modest $137 million surplus in 2024-25 and $183 million in 2025-26.

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