Budget must be bold
The Property Council has again pressed the NSW Government to be brave and bold in the upcoming budget on June 20 and has made a submission of positives polices for NSW that must be adopted to ensure a strong future for NSW.
The policies have been submitted to the Treasurer and are designed for positive change across Sydney and the regions focused on reducing costs for the community, building better cities and infrastructure and reducing red tape.
“This is an important budget for this Government, it will define the second half of their term and drive policy in the lead up to the next election – the Property Council has put forward policies that we believe will make housing cheaper, encourage investment and contribute to stronger cities and communities.” Property Council NSW Deputy Executive Director Cheryl Thomas said today
“These policies build on our five point plan for solving housing affordability in NSW and provide the NSW government with policies that will work and will have immediate benefits for NSW.”
The policies cover tax reform, cuts to stamp duty, a fully funded City Deal, the scrapping of ineffective levies and further investment in our Hunter and Illawarra regions.
“Housing affordability is this government’s number one priority and the Property Council has provided this government with the information needed to implement real solutions – yet building great cities, ensuring Sydney’s west and the State’s regions get their fair share and erasing ineffective taxes are also crucial elements that must be a part of the upcoming budget.”
The budget should be premised on a ‘do no harm’ principle and include proactive measures to address both supply and demand side pressures.
“Stamp duty must be reformed as a part of wider tax reform – the community must be given some relief from this ineffective tax. Demand side policies must be matched with supply side initiatives to streamline planning and reduce costs to ensure we do not add any further heat to the market.
“This budget must embrace forward thinking and progressive approaches to addressing the challenges of growth, we must work together to build great places, great cities, and homes.
“If the government enacts these polices in the lead up to the next election, NSW will have much stronger foundation from which to meet the demands of a growing population.”