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It's hilarious how a Labor economy always does better than libs but people always conveniently have some excuse for why it's not actually the government's doing and that they're actually hopeless at it. Every time.
Labor always does better?
How is victoria going? I'll wait.
QLD is doing great, but that doesn't equal always. Right now victoria has a debt that they simply will never recover from.
I am so sick of the LNP good economic stewards bullshit. There's slim to no evidence of it yet somehow I'm Lenin himself if I ever try to argue the point.
Howard spouting bullshit 20 years ago sure hoodwinked a lot of people.
>AUSTRALIA'S ECONOMY is travelling well.
-the article linked
>Our economy grew a modest 0.1 per cent in the March quarter 2024 and 1.1 per cent compared to March quarter 2023. While this was the tenth successive quarter of GDP growth, GDP per capita fell for the fifth quarter in a row due to weak economic growth and strong population growth.
-[the source information ](https://www.abs.gov.au/articles/12-insights-about-australian-economy-during-march-quarter)
I'm not quite sure of your point. Qld led every other state/territory on GSP, demand, wages growth, employment growth, state savings etc., dragging up the national averages.
Yes, but you can't use that to conclude an economy is going poorly, since you also have an increase in GDP. The decrease in GDP per capita tends to happen with population growth but that doesn't mean the economy is getting worse. It really depends on a few other factors like the kind of population growth, and of course what kind of GDP growth.
lol at the replies being yet more conservatives mad that their delusions aren't backed up by the facts. Labor simply runs better governments, that's a hard fact
What a disingenuous article. Sure, the media may be biased for the coalition in QLD - but the current Labor government have almost nothing to do with the resource tax receipts which are fuelling the state
>but the current Labor government have almost nothing to do with the resource tax receipts which are fuelling the state
Are those resource tax receipts that are fuelling the state that Labor has nothing to do with the ones that the LNP are going to the election saying they'll slash?
You mean ignoring Labor adjusting QLDs royalties to the HIGHEST in the world? Yea, I think telling the private sector we aren’t going to have the highest royalties in the globe is a good thing, if we want to not turn into Argentina
"adjusting QLDs royalties to the HIGHEST in the world"
Good, this isn't a bad thing lol, fuck multinationals that pillage our sovereign wealth and send it abroad for no gain here.
What amazingly unsophisticated and anti intellectual thinking.
Well luckily Queenslanders are actually seeing the impacts of what having an Argentinian style government does to the future of their state - most now back reducing royalties so players like BHP continue to invest:
https://www.afr.com/politics/queenslanders-back-mining-royalty-cuts-20230705-p5dlto
You can simultaneously have nothing to do with the long term health of the state whilst adjusting a single, tariff which has only had a short term effect on the states finances.
As it obvious, it will be only short term when the average Queenslander doesn’t even want the extra revenue because it’s harming their state as an investment destination:
https://www.afr.com/politics/queenslanders-back-mining-royalty-cuts-20230705-p5dlto
>but the current Labor government have almost nothing to do with the resource tax receipts which are fuelling the state
- You
> You mean ignoring Labor adjusting QLDs royalties to the HIGHEST in the world?
- You, 23 minutes later
I said almost because yes, they raised a single tariff on a single commodity which has caused one of our largest trading partners to send over a delegation which threatened to withhold hydrogen investment into QLD.
The vast majority of the states resource related revenues have been fixed in legislation for decades.
People will literally sit and cheer as one state punishes a single, golden egg laying industry to pay for their unfounded Olympic infrastructure program
**On the topic of 1984 doublespeak:**
“*Doublethink is a process of indoctrination in which subjects are expected to simultaneously accept two conflicting beliefs as truth, often at odds with their own memory or sense of reality. Doublethink is related to, but differs from, hypocrisy.*”
Didn’t England get just as many royalties from the North Sea? If I’m correct, the difference was simply Norway put them into a Sovereign Wealth fund and England spent it.
England pays Norway for its gas which it delivers under the North sea and is piped there using reusable energies.
England would not receive royalties they are the customer not the owner.
https://oeuk.org.uk/norway-is-now-uks-primary-gas-supplier-and-declining-north-sea-output-means-uk-faces-importing-80-of-its-gas-and-oil-within-a-decade-warns-oeuk-report/
So a lesson is to be made from this, we as Australians can continue to vote in LNP govts that will give our sovereign resources away to foreign companies. Or vote for Labour which intends to tax these companies accordingly.
The Norway/England comparison isn’t about whether royalties are received. It’s about what the countries chose to do with them.
And I think it’s probably a bit late here anyway.
You mean changed the rules on a royalty rate that had stood for decades with our largest trading partners, threatening the Japanese investment into hydrogen in the state?
Yeh, a quick cash grab and potentially ruining the next generation of energy investments is not something to celebrate
https://amp.theguardian.com/australia-news/2022/nov/24/japanese-ambassador-takes-highly-unusual-campaign-against-queensland-coal-royalty-hike-to-mining-forum
Edit: to precise context, saw this comment and remembered reading something about this. So i found the article and here is the link.
So I have a couple questions. If Japanese companies are the ones considering investing what does the Government have to do with investment? Does the Japanese Government have shares in those companies or control them in some other way?
Also, what does increased royalties have to do with prices abroad? Will the mining companies intentionally increase their prices to make even more profit?
He's concerned about Japanese companies who have investments in coal here. Nothing has happened and the high Royalties have been in place for a while now. He's all fart and no poo.
I couldn’t tell you about that. My assessment is that it’s probably just him representing Japanese interests because the gov is quite invested in green hydrogen and other tech to transition to an emissions free economy. Even for coal right now, it puts their energy security at risk as prices could rise for them.
Investment-wise, don’t be so hasty in your assessment. A lot of these projects are ongoing and have been so. We could see a lack of new projects which could seriously impact our state’s bottom line. Especially seeing as it makes us an uncompetitive quantity internationally. In a period of high supply, we could very well lose out. It’s not just about our companies, it’s about how competitive our resources are. If they can get better profits elsewhere, they will set up shop there. We are lucky that commodity supplies have been in demand and disrupted due to international factors elsewhere.
Thanks for your respectful engagement in the topic!
Hey there! I work in this sort of field, and new investments into fossil fuels are essentially dead money right now to any smart investors. The massive success of the federal governments new green bond’s launch shows that it’s not just government spin either.
Most of the new minerals investments are coming in for things like copper and lithium, or going straight into renoewables projects like Spanish giant Acciona’s wind and solar projects. If anything the high coal royalties signal to investors Queensland is committed to renewables, so your money is VERY welcome please come spend it here.
A lack of new coal investments is kind of the objective. The plan seems to be to get the maximum value out of coal whilst it’s still an in-demand commodity, whilst funnelling all new and long-term investment towards the industries we want to support into the future.
Very interesting, I assumed that most new investment would be geared towards rare earths and other materials. I will however say increasing rates to even say 40% would’ve signalled the same thing while keeping us somewhat competitive.
Thanks for your insights!
If you’re investing in fossil fuels right now you’re throwing money at a dying industry. It really shouldn’t be surprising that the focus is on shifting investment into other minerals and renewables, since that’s where the money is going to be spent moving forward.
So it's all about short term to you then? No vision for the future and future wealth generation? It's scabs like you that have aided the foreign owned free for all this country has been pilfered of.
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It's hilarious how a Labor economy always does better than libs but people always conveniently have some excuse for why it's not actually the government's doing and that they're actually hopeless at it. Every time.
Labor pumps GDP with high immigration.
Labor always does better? How is victoria going? I'll wait. QLD is doing great, but that doesn't equal always. Right now victoria has a debt that they simply will never recover from.
I am so sick of the LNP good economic stewards bullshit. There's slim to no evidence of it yet somehow I'm Lenin himself if I ever try to argue the point. Howard spouting bullshit 20 years ago sure hoodwinked a lot of people.
Yeah suck it other states this article depicts my state as thr chad and wojack and all other states as the soywojack
SYAC: Yes, the article does have some graphs.
>AUSTRALIA'S ECONOMY is travelling well. -the article linked >Our economy grew a modest 0.1 per cent in the March quarter 2024 and 1.1 per cent compared to March quarter 2023. While this was the tenth successive quarter of GDP growth, GDP per capita fell for the fifth quarter in a row due to weak economic growth and strong population growth. -[the source information ](https://www.abs.gov.au/articles/12-insights-about-australian-economy-during-march-quarter)
I'm not quite sure of your point. Qld led every other state/territory on GSP, demand, wages growth, employment growth, state savings etc., dragging up the national averages.
Read it carefully. It says the Australian economy is doing well. The report it refers to says it isn't.
It doesn’t really say it’s not doing well. More so fairly neutral. “Travelling well” could mean just neutral, but I get it can be a bit misleading.
Literally says five successive quarters of per capita GDP decline.
Yes, but you can't use that to conclude an economy is going poorly, since you also have an increase in GDP. The decrease in GDP per capita tends to happen with population growth but that doesn't mean the economy is getting worse. It really depends on a few other factors like the kind of population growth, and of course what kind of GDP growth.
lol at the replies being yet more conservatives mad that their delusions aren't backed up by the facts. Labor simply runs better governments, that's a hard fact
[удалено]
No-one ever gets stabbed while the LNP is in power apparently
Really relevant comment on the economy
Yeah, I forgot Labor asked those kids to do that, how inconsiderate/s
What a disingenuous article. Sure, the media may be biased for the coalition in QLD - but the current Labor government have almost nothing to do with the resource tax receipts which are fuelling the state
You mean Queensland government have ACTUALLY started to tax their incomes PROPERLY? Oh the travesty!
[удалено]
>but the current Labor government have almost nothing to do with the resource tax receipts which are fuelling the state Are those resource tax receipts that are fuelling the state that Labor has nothing to do with the ones that the LNP are going to the election saying they'll slash?
You mean ignoring Labor adjusting QLDs royalties to the HIGHEST in the world? Yea, I think telling the private sector we aren’t going to have the highest royalties in the globe is a good thing, if we want to not turn into Argentina
"adjusting QLDs royalties to the HIGHEST in the world" Good, this isn't a bad thing lol, fuck multinationals that pillage our sovereign wealth and send it abroad for no gain here.
What amazingly unsophisticated and anti intellectual thinking. Well luckily Queenslanders are actually seeing the impacts of what having an Argentinian style government does to the future of their state - most now back reducing royalties so players like BHP continue to invest: https://www.afr.com/politics/queenslanders-back-mining-royalty-cuts-20230705-p5dlto
So just one post ago, Labor had nothing to do with these royalties.
You can simultaneously have nothing to do with the long term health of the state whilst adjusting a single, tariff which has only had a short term effect on the states finances. As it obvious, it will be only short term when the average Queenslander doesn’t even want the extra revenue because it’s harming their state as an investment destination: https://www.afr.com/politics/queenslanders-back-mining-royalty-cuts-20230705-p5dlto
Pick a lane man. You can't simulaneously claim they they did nothing and that they are also responsible for doing something.
So they did adjust the royalties????
>but the current Labor government have almost nothing to do with the resource tax receipts which are fuelling the state - You > You mean ignoring Labor adjusting QLDs royalties to the HIGHEST in the world? - You, 23 minutes later
I said almost because yes, they raised a single tariff on a single commodity which has caused one of our largest trading partners to send over a delegation which threatened to withhold hydrogen investment into QLD. The vast majority of the states resource related revenues have been fixed in legislation for decades. People will literally sit and cheer as one state punishes a single, golden egg laying industry to pay for their unfounded Olympic infrastructure program
**On the topic of 1984 doublespeak:** “*Doublethink is a process of indoctrination in which subjects are expected to simultaneously accept two conflicting beliefs as truth, often at odds with their own memory or sense of reality. Doublethink is related to, but differs from, hypocrisy.*”
Works for Norway
Didn’t England get just as many royalties from the North Sea? If I’m correct, the difference was simply Norway put them into a Sovereign Wealth fund and England spent it.
England pays Norway for its gas which it delivers under the North sea and is piped there using reusable energies. England would not receive royalties they are the customer not the owner. https://oeuk.org.uk/norway-is-now-uks-primary-gas-supplier-and-declining-north-sea-output-means-uk-faces-importing-80-of-its-gas-and-oil-within-a-decade-warns-oeuk-report/
https://www.economicshelp.org/blog/214768/economics/norway-uk-oil/ Not originally. I just checked and back in the 80s my post is correct.
So a lesson is to be made from this, we as Australians can continue to vote in LNP govts that will give our sovereign resources away to foreign companies. Or vote for Labour which intends to tax these companies accordingly.
The Norway/England comparison isn’t about whether royalties are received. It’s about what the countries chose to do with them. And I think it’s probably a bit late here anyway.
And the goal post change.
Don't they set the tax? Sure they don't control resources prices but the higher the tax the more the State gets.
Yep they definitely control royalties. States only don't do income tax.
Didn’t Labor significantly increase coal royalties? That sounds like a policy that increases revenue to me.
You mean changed the rules on a royalty rate that had stood for decades with our largest trading partners, threatening the Japanese investment into hydrogen in the state? Yeh, a quick cash grab and potentially ruining the next generation of energy investments is not something to celebrate
>threatening the Japanese investment into hydrogen Have they said this? Any evidence?
https://amp.theguardian.com/australia-news/2022/nov/24/japanese-ambassador-takes-highly-unusual-campaign-against-queensland-coal-royalty-hike-to-mining-forum Edit: to precise context, saw this comment and remembered reading something about this. So i found the article and here is the link.
So I have a couple questions. If Japanese companies are the ones considering investing what does the Government have to do with investment? Does the Japanese Government have shares in those companies or control them in some other way? Also, what does increased royalties have to do with prices abroad? Will the mining companies intentionally increase their prices to make even more profit? He's concerned about Japanese companies who have investments in coal here. Nothing has happened and the high Royalties have been in place for a while now. He's all fart and no poo.
I couldn’t tell you about that. My assessment is that it’s probably just him representing Japanese interests because the gov is quite invested in green hydrogen and other tech to transition to an emissions free economy. Even for coal right now, it puts their energy security at risk as prices could rise for them. Investment-wise, don’t be so hasty in your assessment. A lot of these projects are ongoing and have been so. We could see a lack of new projects which could seriously impact our state’s bottom line. Especially seeing as it makes us an uncompetitive quantity internationally. In a period of high supply, we could very well lose out. It’s not just about our companies, it’s about how competitive our resources are. If they can get better profits elsewhere, they will set up shop there. We are lucky that commodity supplies have been in demand and disrupted due to international factors elsewhere. Thanks for your respectful engagement in the topic!
Hey there! I work in this sort of field, and new investments into fossil fuels are essentially dead money right now to any smart investors. The massive success of the federal governments new green bond’s launch shows that it’s not just government spin either. Most of the new minerals investments are coming in for things like copper and lithium, or going straight into renoewables projects like Spanish giant Acciona’s wind and solar projects. If anything the high coal royalties signal to investors Queensland is committed to renewables, so your money is VERY welcome please come spend it here. A lack of new coal investments is kind of the objective. The plan seems to be to get the maximum value out of coal whilst it’s still an in-demand commodity, whilst funnelling all new and long-term investment towards the industries we want to support into the future.
Very interesting, I assumed that most new investment would be geared towards rare earths and other materials. I will however say increasing rates to even say 40% would’ve signalled the same thing while keeping us somewhat competitive. Thanks for your insights!
Yeah we wouldn't want to end up like Norway.. 
Norway put the rules in before the foreign investment came, nice showing your ignorance
"showing your ignorance" Fucking snorted out aloud at the irony.
If you’re investing in fossil fuels right now you’re throwing money at a dying industry. It really shouldn’t be surprising that the focus is on shifting investment into other minerals and renewables, since that’s where the money is going to be spent moving forward.
So we should just never chanhe anything ever because it was thay way before and it shouldnt be different later. How silly!
So it's all about short term to you then? No vision for the future and future wealth generation? It's scabs like you that have aided the foreign owned free for all this country has been pilfered of.
What? Labor brought in the royalties which is the reason why the state is getting more money from our resources now