Queensland's raised coal royalty is expected to provide an $8 billion boost to the state budget.

The boost is predicted as a result of soaring coal prices and the Palaszczuk government's new royalty regime. 

The Queensland Resources Council has predicted the state's bottom line will record a surplus of $5.2 billion for 2022-23. 

The mining lobby claims that the new royalty regime could stifle future job opportunities in the resources sector and lead to early mine closures, according to Queensland Resources Council chief executive Ian Macfarlane - Australia’s former mining and industry ministers in the Howard government. 

The state's new royalty system introduces three new tiers and makes Queensland the highest taxing royalty regime in the world, which has been criticised by big mining companies such as BHP. 

The state Labor government says it has no plans to scrap the changes.