Property sector it s time to get serious about jobs

Property sector: it’s time to get serious about jobsIn the wake of this month’s worrying unemployment rate, the peak body for Australia’s $680 billion property industry says it’s time to get serious about creating the best state to do business.ABS data released today reveals that South Australia’s unemployment rate has hit 7.8 per cent in trend terms or 8.2 per cent in seasonally adjusted terms. SA Executive Director of the Property Council Daniel Gannon said this month’s unemployment figures are startling and should be a call to action for the State Government.”We need to get serious about implementing the Premier’s vision as ‘the best place to do business.’ That involves cutting red-tape and creating a taxation and business environment that is internationally competitive,” said Mr Gannon. “We shouldn’t lose sight of the fact that South Australia is in competition with the world when it comes to attracting investment. “South Australian businesses struggle with antiquated shop trading regulation, high land tax rates, high penalty rates, and a sluggish local government based planning system.”We need lower costs associated with owning and developing land in South Australia, cheaper utilities, and regulation that doesn’t get in the way of creating jobs. “We need to create compelling reasons for interstate and international businesses to invest here, and give young job-seeking South Australians a reason to not increase our brain drain exodus. “That’s why last month’s announcement to phase out stamp duty on non-residential property transfers was strongly endorsed by the property sector. Following today’s jobs data, there is a strong case to fast-track this policy to create an immediate incentive to invest. “We also need to think about infrastructure as a jobs driver. The State Government just released its Integrated Transport and Land Use plan; however, funding hasn’t been locked in for initiatives like extending the tram line. “Let’s create a plan for moving forward with public-private partnerships on infrastructure. There are models out there globally like the UK’s City Deals infrastructure policy that have some lessons for policymakers here in our state. “Going forward, the jurisdictions with the most competitive tax environments and the most liveable cities will win the contest for skilled immigration and investment globally. “With more job losses on the horizon, the property sector has concerns for our industry’s workforce – a workforce that accounts for 168,000 jobs and generates almost 26 per cent of wages and salaries paid to South Australians.”