This submission focuses on the contribution of the property investment and development sectors to the broader community.
The Property Council supports a budget that delivers:
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A return to strong, ongoing economic growth of three to four per cent;
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A public policy reform framework for long-term sustainable growth; and
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Programs that build community capacity and better balance the social, environmental and economic targets of Tasmania Together Goals.
In addition, the Property Council contends that a new approach to setting fiscal policy, based on the following concepts, should inform the design of the 2012-2013 budget:
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Key performance indicators (KPIs) – greater clarity about the measurable goals of all budget programs;
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A war on red tape – more efficient regulation, less duplication and minimal conflict of policy settings;
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Tax reform – lower taxes achieved through more efficient tax design that also delivers lower compliance costs and promotes a competitive economy;
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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 allow for more effective assessment of regulatory impacts;
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Community capacity building – lifting the ability of individuals, families and firms to make the most of their relative talents and opportunities;
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Sustainability – optimising governance, economic, social and environmental assets for the long-term benefit of the community;
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Accounting for spatial implications – an understanding of the spatial consequences of all policy programs; and,
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Incentives – the use of incentives to transform market behaviour to meet community goals as an alternative to regulation.
