Coal miners have claimed they would pay $14 billion in coal royalties to the Queensland government next financial year – $8.5 billion more than forecast by Treasury – and have vowed to campaign against the new tax regime all the way to the 2024 state election.

While Treasurer Cameron Dick on Thursday defended the cash grab as a response to record profits, the Queensland Resources Council estimated the Palaszczuk government will receive a 93 per cent increase in royalties if current high prices continued into 2022-23.