Will coal royalties be overestimated yet again in the NSW budget?

MEDIA RELEASE – 22 June 2015

The Greens NSW mining spokesperson Jeremy Buckingham today questioned whether the NSW Government would overestimate coal royalties in this year’s budget, after they overestimated coal royalties in all four of the last state budgets.

“The track record for estimating the return from coal royalties has been atrocious, so I hope Treasury has taken off the rose-coloured glasses and will provide more realistic forecasts this year,” said Greens MP Jeremy Buckingham.

“Coal is in structural decline and needs to be phased out to stop damaging climate change.  The Greens policy is for an additional 2% levy to be placed on coal royalties to provide funds for facilitating transitional regional development such as renewable energy projects, sustainable agriculture, value-adding and marketing agricultural produce, and waste reduction.”

Coal royalties

Contact: Max Phillips – 9230 2202 or 0419 444 916

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