Cyclone Debbie could wipe $200m of coal revenue, John McCarthy, The Courier-Mail, April 5, 2017 THE State Government could lose up to $200 million from coal royalty revenue after Cyclone Debbie knocked out crucial rail links to the coast.
When the 2016-17 Budget was delivered last June, coal royalties were expected to be $1.5 billion, but the price rise almost doubled the projection to $2.748 billion by the Mid-year Fiscal and Economic Review in December.
Economist Nick Behrens said the royalties income would still be “well ahead’’ of the original estimate last June, but the weather disaster would shave up to $200 million from the revised figure. “However the damages bill I suspect will be far higher than the $2.748b sugar hit from coal royalties and additional GST receipts (of $889m). “So the State Government may actually find themselves in net terms behind.”
He said the bulk of the damages bill was most likely going to hit next financial year.
Analysts now estimate up to 17 million tonnes of coal sales could be lost because of the shutdown of Aurizon’s damaged rail lines. That’s much higher than the original estimate of 10 million tonnes.
The State Government said it was unable to put a figure on the impact to the Budget until a thorough assessment of the damages was made…….http://www.couriermail.com.au/business/cyclone-debbie-could-wipe-200m-of-coal-revenue/news-story/b478293f19df0c6556b7478800ded668
April 7, 2017 - Posted by Christina Macpherson | AUSTRALIA - NATIONAL, business, climate change - global warming
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