Soaring coal prices are expected to deliver millions of dollars into the state government’s coffers on the back of the three-tiered coal royalties system introduced in July.

But the Queensland Resources Council says the tax hike, estimated to be among the steepest tariffs on resources in the world, are costing the state jobs and future investment opportunities.

The Palaszczuk government has staunchly defended its changes to royalties, which has resulted in a billion-dollar bonanza on the back of persistently high coal prices.

It comes as the government promises cost-of-living relief when Treasurer Cameron Dick hands down the budget on Tuesday.

The Treasurer called on council boss Ian Macfarlane to show some respect to those who are suffering because of high inflation and high mortgage rates.

“People are doing it tough in Queensland, and I don’t think Queenslanders want to hear complaints from the coal lobby and from the mining lobby about paying a little bit more tax when they are making record profits and their revenue is through the roof,” he told reporters on Monday.

Dick said Queensland was one of the most competitive places in the world for the coal industry and the state had enjoyed record investment.

“The number of jobs in the coal industry in Queensland has grown since progressive coal royalties were announced,” he said.

An analysis by the council last month found bumper coal prices were forecast to add an extra $5 billion to state coffers, bringing the total royalties paid by coal companies in 2022/23 to a record $13b.

The council continued its campaign against the changes on Monday, saying the resources industry was backing the next phase of the Keep Queensland Competitive campaign to show the consequences of the royalty tax.

“When the investment rules change so drastically and so suddenly as they did when the world’s highest coal royalty was introduced in Queensland last year, that’s a wake-up call for investors in all resources projects who have reason to rethink whether Queensland is the best place to invest,” Macfarlane said.

“Without new resources projects, there are no new jobs, which will impact every Queenslander in one way or another.

“At a time when the cost of living is increasing and mortgage rates are on the rise, the best security people can have is a job, which is what the resources sector can provide.”

Premier Annastacia Palaszczuk and the treasurer said the government was “absolutely focused” on cost of living and there would be billions of dollars worth of measures in the budget.

The government has also flagged boosts to health, housing and community safety.

The budget update forecasts a $5.2b surplus for 2022/23, a turnaround from the $1b deficit predicted in last year’s budget.