Nation builders come to the national capital

Nation builders come to the national capitalLeaders from the property industry and investors from around the globe joined Australia’s political leaders in the nation’s capital last week for the annual Capital Markets Leaders Summit.Delegates heard from recently retired Chief of Army Lt General David Morrison AO, who gave an inspiring speech on leadership and diversity at the welcome dinner.The following morning Shadow Treasurer Chris Bowen started proceedings with an outline of Labor’s plan for $21 billion in savings over the decade, and a discussion of tax reform, negative gearing and superannuation. Leading journalists David Speers, Laura Tingle and Turi Condon shared their insights and unique “view from the corridors” over lunch.The leaders shared their views, connected with Australia’s most respected politicians and engaged with an outstanding program, of which highlights included: · a showcase of super and sovereign wealth funds with property leaders from CPPIB, GIC, PSP Investments, PGGM, Teacher Retirement System of Texas, Future Fund, Funds SA, State Super, SunSuper and UniSuper ; · a powerful line up of Australia’s most respected A-REIT executives, property investors and fund managers; and· a spotlight on cutting edge alternate investment opportunities, including childcare, student accommodation, health and retirement living. On Wednesday night, as delegates gathered in the Marble Foyer of Parliament House, the Prime Minister Tony Abbott welcomed the “nation builders to the national capital”.Addressing the members of the property industry for the second time in a week, the Prime Minister acknowledged that “this government knows who the real authors of prosperity are. Government doesn’t create jobs – you do. Government doesn’t create prosperity – you do.”Treasurer Joe Hockey then provided the keynote address at dinner, encouraging the industry to ‘think big’, and arguing that the emergence of the Asian middle class will be the “most transformative event” in Australia’s history.”As two billion people move into the middle class across Asia, you are going to see a massive change in the demand for services out of the region,” Hockey said.”We have the best property industry in the world,” the Treasurer proclaimed, and our architecture, project management, design and construction skills could be exported around the region. Property Council National President Mark Steinert revealed new research which underscores the size and strength of the industry’s economic footprint.”Our industry generates 11.5% of GDP, employs 1.1 million Australians and pays $72.1 billion in state, federal and local real estate taxes each year,” Steinert said.Property Council Chief Executive, Ken Morrison, reminded the delegates that, as the nation’s second largest employer, “the jobs this industry provides are at the heart of every community around the country.”Delegates confirmed that the 2015 Leaders Summit was an unmissable opportunity for industry and political leaders to connect, and to refocus the industry’s energies and priorities for the next financial year.