Deputy Premier and Treasurer Jackie Trad (centre) and Employment Minister Shannon Fentiman (right) visit All Purpose Transport in Logan, Brisbane, Thursday, December 14, 2017. The Ministers visited workers who have started jobs thanks to the Back To Work Queensland program.
Deputy Premier and Treasurer Jackie Trad (centre) and Employment Minister Shannon Fentiman (right) visit All Purpose Transport in Logan, Brisbane, Thursday, December 14, 2017. The Ministers visited workers who have started jobs thanks to the Back To Work Queensland program. AAP Image - Jono Searle

Treasurer to unveil mid-year fiscal review

JACKIE Trad is tipped to hand down a mid-year fiscal and economic review today revealing better than expected surpluses thanks - yet again - to a boost in coal royalties.

The newly minted Treasurer was on Sunday keeping mum on the likely outcomes contained in the MYFER ahead of unveiling it.

It is expected to detail coal royalties boost of between $1 billion and $1.8 billion - as revealed last week - alongside four new taxes estimated to bring in almost $500 million over three years.

The coal royalties boost is expected to deliver a surplus higher than the $146 million predicted in the June Budget for 2017/18 and higher than those predicted across the forward estimates.

"We went to the election with a very clear comprehensive fiscal strategy, we outlined the revenue measures and the expenditure measures that we would be introducing this term and I'll let that document speak for itself," Ms Trad said of the MYFER.

But she defended the four new taxes announced by Labor on the eve of the November 25 election to help pay for the party's election promises, insisting they would only impact on a small few "that can pay a little bit more".

The Property Council and Opposition are among those who have come out against some of the new taxes planned including increased property taxes for foreign investors and those with landholdings above $10 million and an increase in the duty applied to luxury cars.

Deputy Opposition Leader Tim Mander said he believed the MYFER would serve as the new Treasurer's first real test.

"It will be a test for Jackie Trad. How will she control debt, control spending when this is a government that is all about spending government money,' Mr Mander said.

"You can't tax your way to growth.

"Let's just wait and actually see what the figures are."

He described the estimated coal royalties boost as "ironic" given Labor's fluctuating position on the Adani coal mine.



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