Resources budget boost

THE Queensland resources sector’s strong performance and outlook will underpin another year of economic growth for Queensland in 2007-08, according to Queensland Resources Council (QRC) chief executive Michael Roche.

THE Queensland resources sector’s strong performance and outlook will underpin another year of economic growth for Queensland in 2007-08, according to Queensland Resources Council (QRC) chief executive Michael Roche.

“The recent Queensland Budget forecast of 5% economic growth over the next 12 months reflects the benefits to the state from a forecast lift in base metals exports and continuing growth in coal exports,” he said.

“Queensland’s financial strength is anchored by a $2.3 billion contribution of revenues from the minerals and energy sector, including $1.4 billion in mineral royalties and $900 million in dividends from government-owned rail, port and energy enterprises.”

“This total contribution is up $400 million on last year’s $1.9 billion,” he said.

“If the minerals and energy sector is to sustain its critical support role for the Queensland economy, state government attention must stay focused on the effective delivery of services to regional centers.”

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