Soaring coal prices and the Palaszcuzk government’s new royalty regime are expected to deliver a budget boost of $8 billion more in coal royalties than forecast in last June’s budget, according to the Queensland Resources Council.

With the Albanese government expected to return close to surplus in next week’s budget courtesy of a surge in iron ore and coal exports, Queensland Treasurer Cameron Dick is also expected to be a beneficiary of continuing high prices when he hands down his own budget on June 13.