The Property Council supports a budget that delivers:
• a return to strong ongoing economic growth of three to four percent;
• low inflation and stable interest rates;
• a public policy reform framework for long-term sustainable growth; and,
• programs that build community capacity and better balance social, environmental and economic objectives.
The Property Council proposes that the following concepts guide the design of the 2009 budget:
• key performance indicators – clarity about the measurable goals of all budget programs;
• community capacity building – lifting the ability of individuals, families and firms to make the most of their relative talents and opportunities;
• sustainability – optimising governance, economic, social and environmental assets for the long-term benefit of the community;
• a modernised Australian federation – a clear allocation of the relative responsibilities, powers and accountabilities of the three spheres of government;
• a war on red tape – more efficient regulation, less duplication and minimal conflict of policy settings;
• tax reform – lower taxes achieved through more efficient tax design that also delivers lower compliance costs and promotes a competitive economy;
• modern policy assessment instruments – adoption of methodologies that better allocate scarce resources (such as capital spending on infrastructure) on a triple bottom line basis and more effectively assess regulatory impacts;
• accounting for spatial implications – an understanding of the spatial consequences of all policy programs; and,
• incentives – the use of incentives to transform market behaviour to meet community goals as an alternative to regulation.