Premier Annastacia Palaszczuk has hit out at a $40 million campaign headed by the Queensland Resources Council, attacking the state’s coal mining royalties scheme.

Under the plan, new royalty tiers will come into effect after a decade-long freeze to tip an additional $1.2 billion into the state’s coffers over four years.

Today the QRC held its annual lunch, where it launched a multi-million dollar ad campaign.

Premier Palaszcuzk fired up at the organisation’s campaign.

“If they have $40 million for an advertising campaign, I can build a special school in Queensland for $40 million,” she said.

“I can pour money into housing .. I can out $40 million to very good use.

“Let me make it very, very clear, I am extremely disappointed in Ian Macfarlane and his attacks on the government.”

Queensland Resources Council chief executive Ian Macfarlane says the resources sector is the backbone of Queensland’s economy, but the government was “taxing us out of existence”.

“She’s boycotted the 451,000 people who rely on the resources sector for their job, and to be honest, we are already making a huge contribution to the state,” he told Neil Breen.

He vowed to continue the campaign.

“There are huge risks for Queenslanders.”

Press PLAY below to hear his warning for Queensland