Growth plan good for South Australia

Growth plan good for South AustraliaThe Property Council of Australia says the SA Government’s plan to grow the state economy aligns with its policy objective of boosting the state through investment and development.The SA government has outlined its plan to reshape the state economy in the form of a 10-point plan. Among the economic priorities identified in the plan is accelerating industry growth and creating jobs by providing easier access to capital for growth businesses.SA Premier Jay Weatherill announced last week that his government will offer financial guarantees worth a total of $ million to drive business growth and spur employment. “The Unlocking Capital for Jobs program will make it easier for business to secure commercially viable loans where companies would otherwise not have the balance sheet to access finance,” he said.The Property Council welcomes the announcement, stating that unlocking financial markets will lead to more demand for building construction to house extra workers. It should also help to create an environment in which positive migration into SA will boost demand for housing construction.Among the state’s other plans are efforts to unlock the state’s mineral assets, export premium food and wine to the world and become a globally recognised leader in health research, particularly with regard to ageing-related services and products. The Property Council said that further support for the ageing population will help cement SA’s position as a leader in the provision of retirement living products.The Property Council also lauds the SA government’s recognition of Adelaide as the economic heart of the state. It adds that particular recognition should be accorded to Adelaide’s city centre as a place of special cultural and economic significance to SA.The Property Council repeated its calls for the Government to scrap the car parking tax.The Property Council said it was time that SA adopted a whole-of-government approach to supporting economic growth in the state. It contended that the government should seriously consider the recent planning reforms proposed by the state’s Expert Panel on Planning Reform as a means of promoting growth through property investment and development.