Property Council calls for Holden site plan
The Property Council of Australia has used its 2015-16 State Budget submission to call for a plan for the General Motors Holden Plant to be developed collaboratively with the community, industry and academia.
“The 124-hectare site of GM Holden is a significant economic asset and offers the potential for attracting investors to generate new productive activity and employment,” said SA Executive Director Daniel Gannon.
“It is important that the Government acts now on the alternate use of the GM Holden site, so that South Australia can build on its opportunities and support diversification of the economy.”
Mr Gannon said the Property Council is also seeking a competitive taxation system coupled with prudent fiscal reform to grow the state’s economy.
“Sensible tax reform is also essential to attracting global capital and encouraging domestic investment in property,” he said.
“South Australia is in an investment competition with the rest of the country and globally when it comes to attracting foreign investors.
“And that’s why the State Government must rule out introducing a foreign investment tax in its Budget, similar to what we’ve seen take place in Victoria recently.”
The Property Council’s submission focuses on two main areas:
- Priority expenditure and investment;
– Infrastructure
– Planning
– Master Plan for the City of Adelaide
– Alternative use of the GM Holden Plant
– Cost of living concessions for retirement village residents
– Local Government Reform
– Building Upgrade Finance - Revenue and tax reform
– Foreign investment tax
“This submission provides the State Government with a series of recommendations that have the potential to increase economic growth.
“It’s now time for the Government to fund and implement reforms to improve our state’s efficiency, performance and productivity.”