The Property Council of Australia has expressed their concern over today’s NSW Government’s reforms of the infrastructure contributions system.
Property Council’s NSW Executive Director Luke Achterstraat said contributions reform was a delicate balance between the need to fund infrastructure and ensuring the burden on industry isn’t so onerous as to compromise future building and construction activity as our economy makes a recovery.
“The changes announced today bring this policy closer to the starting position that prompted the need for reform in the first place, requiring a relook at whether the package remains balanced,” Mr Achterstraat said.
“More now than ever, at a time when the state needs housing and stimulus, an increased taxation model is not the way to encourage the delivery of the new homes and jobs our economy needs as our society and our borders reopen.
“The Property Council supports the proposed contributions reform when delivered in its entirety, as a finely balanced package that delivers for communities, councils and industry.
“Tweaks to the package risk unbalancing the proposal and are a move away from delivering the certainty, flexibility and productivity outcomes needed to maximise the state’s economic recovery.”
