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Rent-controlled Resources: Why are we under-charging Australia's mining tenants?

Author

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  • Murray, Cameron

    (The University of Sydney)

  • Helm, Tim

    (Independent economic consultant)

Abstract

Mineral rights are Crown property, belonging to all Australians. Royalties in their current form are an inflexible and inefficient method of pricing public property rights – like rent control for housing, they protect mining tenants from paying full market value. State governments, as resource managers, are giving Australia’s resource companies a cushy deal at the public’s expense. If Australia captured resource rents as effectively as Norway, governments could raise up to $66 billion more in revenue each year – enough to fund the abolition of payroll tax and stamp duty. A straightforward adjustment to royalty regimes, inspired by Queensland’s recent reforms, could yield an additional $14.5 billion per year by way of more commercially-oriented resource pricing.

Suggested Citation

  • Murray, Cameron & Helm, Tim, 2024. "Rent-controlled Resources: Why are we under-charging Australia's mining tenants?," OSF Preprints qw28a_v1, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:qw28a_v1
    DOI: 10.31219/osf.io/qw28a_v1
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