Social infrastructure Budget focused on recovery
The Property Council of Australia has described the State Budget as ‘social infrastructure budget’ that will put hard hats and steel caps on workers now and into the future.
“The message coming out of this Budget is very clear – it’s about record infrastructure spending with a strong focus on health, education and economic recovery,” said Property Council SA Executive Director Daniel Gannon.
“This is an economic blueprint that will put hard hats and steel caps on workers now and into the future, helping to transform South Australia’s skyline.
“This is evidenced by the $17.9B invested into infrastructure over the next four years, critically focused on health, education, sporting, cultural and recreational facilities.
“Importantly, the Budget strives towards making Australia’s most liveable city the nation’s most attractive place to invest and do business.
“South Australia is well-positioned to re-emerge from COVID with social infrastructure that attracts investment, people and world-leading activities.”
Mr Gannon said one such element of the Budget’s infrastructure investment is the $662M Riverbank Arena.
“An economic slam dunk, a full-court spending press, a jobs ace, and an industry grand slam – whatever your slogan, it is the type of social infrastructure we need to grow the economy.
“The Land Forces convention alone attracted more than 15,000 delegates, resulting in 25,000 bed nights, and injecting $34 million into the state’s economy. We need it back, and others.
“This also demonstrates that health and infrastructure priorities can both be appropriately addressed and funded, with important works undertaken in a sensible timeframe.
Another core feature revolves around competitiveness.
“Adelaide is now Australia’s most liveable city, our state’s investment attractiveness has increased with changes to land tax and stamp duty, and South Australia’s COVID-management performance is second to none.
“In comparison, Victoria’s recent increases to property taxes coupled with that state’s management of the pandemic means South Australia has set itself up for a golden era of investment attraction.
Additionally, the State Budget contains $800K to reactivate Adelaide’s CBD and entice more workers back into the workplace.
“Earlier this week the Property Council launched FOMO Fridays, an initiative designed to increase occupancy levels in commercial office buildings.
“While flexibility is here to stay, we need to bring people and life back into the Adelaide CBD to help save businesses and jobs. For these reasons, we applaud and welcome this financial commitment from the State Government.