LNP ANNOUNCEMENT: QUEENSLAND INVESTMENT PARTNERSHIPS


The following quotes can be attributed to Chris Mountford, Queensland Executive Director, Property Council of Australia:

“Unlocking significant private investment in new projects will be critical if Queensland’s economy is going to rebound from the impact of COVID-19. Government expenditure alone will be nowhere near enough to underpin critical construction jobs over the next few years.

“We have seen the NSW and Victorian Governments move quickly to try and lock in new private sector proposals – and the jobs and economic activity they will generate - by fast tracking the approvals of a number of major projects.

“We are yet to see the Queensland Government make similar moves to signal their desire to attract significant new private investment as part of the economic recovery. This certainly creates a risk that Queensland will miss out if project proponents lock in the limited funding they have available to projects interstate.

“The Property Council has long been an advocate for what have traditionally been called ‘Market Led Proposals’. This is where the private sector can bring innovative ideas to government. However, it is fair to say there has been a very high degree of frustration from our members with the slow, cumbersome and costly processes of government that have prevented many projects from proceeding in Queensland.

“Combined with Queensland’s uncompetitive tax settings for many investors, the current approach risks being a serious handbrake on job-generating investment post-COVID.

“A significant reinvigoration and streamlining of the processes, coupled with a commitment to genuinely partner with the private sector, is a big step in the right direction."

Media contact: Chris Mountford| M 0408 469 734 | E cmountford@propertycouncil.com.au