According to The Australian Financial Review, Queensland Treasurer Cameron Dick will use a $15.3 billion coal royalty bonanza to cut household power bills and inject $19 billion into state-owned clean energy projects, a spending spree economists warned could be inflationary.
The $10 billion increase in coal royalties allowed the government to deliver a record $12 billion surplus this financial year – the largest of any state in history. But a $1.5 billion cost-of-living package and $19 billion for government-owned pumped hydro, wind, solar and battery projects will push the budget back into deficit next financial year. https://www.afr.com/politics/coal-royalties-deliver-10b-sugar-hit-to-queensland-20230612-p5dfz9
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