Pressure on for GST overhaul as royalties slashed - The Australian

LOWER commodities prices and the high Australian dollar have forced the main resources states to slash their royalties forecasts by $5.6 billion, adding to pressure on the Gillard government to overhaul the GST and ease cost pressures on mining projects.

Analysis by The Australian of the recent round of mid-year budget updates reveals the states have cut their anticipated royalties by $1.49bn for 2012-13, and now expect to collect $8.4bn.