How to supercharge Tasmania’s economy
Property drives Tasmania’s economy, which is why the state election is an “unmissable opportunity” to supercharge growth and prosperity over the next five years, says the Property Council’s Brian Wightman.
As Tasmanians head to the polls on 3 March, the Property Council has launched Five Steps to Prosperity – a strategy to maximise investment, build for the future, and fairly distribute contributions to government.
“Almost one in 10 people in Tasmania draw a wage either directly or indirectly from the property industry,” Wightman says.
“Our industry accounts for 7.8 per cent of Tasmania’s economic activities and taxes – which is why it is important to invest in strategies that support our industry’s growth.”
The Five Steps to Prosperity, developed in close consultation with the Property Council’s many committees, are:
- Build participation, retain talent and grow population
- Incentivise investment
- Deliver equity across local government
- Fix water and sewerage
- Finalise planning overhaul.
A population target for 2022, complemented by strategies that invest in growth, is top on the list.
“By 20 Tasmania will be home to 6,000 through natural growth and an increasing life expectancy,” Wightman explains.
“From a base of 518,0 people, and with an Australian average growth rate of 1.6 per cent, the state’s population should be 552,0 by 2022,” Wightman says.
“Working age mainlanders must be our target market with their ability to drive economic and social improvement the key to our future.”
This initiative alone would supercharge the construction industry over the next five years.
City Deals for Hobart and Launceston should be “fully funded” and “unashamedly underpinned by education”.
Inner-city infill housing should be prioritised, and supply increased in an “affordable and strategic way”.
Wightman also says the industry needs “equity” across local government.
“It is ridiculous that in 2017 the services across local government municipalities varies so much. This is inequitable and unfair. Rates should not increase beyond CPI unless each council can prove to their constituents that the investment is in crucial infrastructure or improved services.”
Wightman also says structural reforms to TasWater are “desperately needed”.
In 2017, reforms to TasWater were not approved, a decision which Wightman says “demonstrates that many of our elected officials are out of touch”.
“It would be difficult to find too many people who believe that TasWater will still have 29 owners in 10-15 years’ time. We must fight hard for this reform to be implemented.”
Finally, the incoming state government must finalise the Tasmanian Planning Scheme.
“We cannot be complacent after a few years of strong economic growth. We must maintain the momentum and in fact build on it. We must seek innovation and change and do things better. The status quo is unacceptable,” Wightman concludes.