Budget highlights infrastructure challenge

Budget highlights infrastructure challengeThe Queensland State Budget has reinforced just how vital a strong property industry will be to the recovery of the Queensland economy and State finances in the years ahead. However the Budget also highlighted the key challenge threatening the property industry’s capacity to deliver prosperity, jobs and strong communities into the future – the level of public infrastructure investment. “The property industry was the white knight in today’s State Budget with stamp duty revenues for 2014/15 of $3.14 billion providing a windfall of $487 million compared to last year’s budget estimate of $2.65 billion,” says Queensland Executive Director of the Property Council, Chris Mountford. “However, the Budget also confirmed that the Government’s efforts to balance the books and pay down debt without asset sales means that they will be building the infrastructure the government can afford, rather than the infrastructure Queensland needs. “Following the Budget, the property industry’s focus will shift to the next wave of announcements due to be made by the Government that will send a clear signal about the State’s desire to attract private investment.” For further information on the Queensland State Budget click here.The Property Council’s media release can be found at the PDF link below.