City Deals must build economic capacity says Property Council

City Deals must be ‘real deals’ that prioritise jobs and economic growth according to a new discussion paper released today by the Property Council.

“What makes a City Deal a Real Deal?” lays out a framework for the best way of ensuring that City Deals create lasting jobs.

“All sides of politics are on board with wanting to deliver City Deals that lift the economic trajectory of our cities. This is vital as a real City Deal must have a long-term focus that looks past the political and economic cycles”, said Ken Morrison, Chief Executive of the Property Council of Australia.

“To the credit of both Angus Taylor and Anthony Albanese, they are engaging in a rigorous policy debate that will result in better public policy for our cities.

“It’s a policy that signs all levels of government to a performance focused plan that delivers infrastructure, productivity improvements and a stronger local economy founded on jobs.

“It also brings the private sector to the table with new sources of finance to deliver infrastructure, jobs and urban renewal.

“We all know that Australia can’t afford the old days of the pork barrel. Infrastructure funding must prioritise jobs and the capacity of the infrastructure to strengthen a local economy. 

“It's important to take the time to get City Deals right. This discussion paper sets out ten principles to ensure a City Deal is a real deal, not a dud deal.

“Townsville, Launceston and Western Sydney have been chosen as the places to start. Townsville has enormous economic potential but is stymied by double digit unemployment; Launceston is ripe for a city deal with tangible support from all levels of government, and we need to ensure that Western Sydney (which is Australia’s third largest economy) takes full advantage of the development of the new Western Sydney airport.

“We are an industry that believes in City Deals. We have been championing the concept for two years and we believe, if properly done, they can be the source of jobs and further economic capacity.

"We hope this discussion paper helps policy makers at federal, state and local levels get the policy framework right for the long term benefit of our cities.”

Media contact: Paul Ritchie |  E pritchie@propertycouncil.com.au