The property sector is currently facing an extraordinarily difficult environment. In the last 18 months, there has been major credit rationing, declining asset valuations and a slowing economy.
The Property Council of Australia applauds the Government’s initiatives such as the Premier’s Jobs Summit, planning reform implementation and working with the Commonwealth to deliver their $42 billion nation building package.
The Government has some big decisions to make in the Budget on 16 June.
To bolster employment and economic activity in NSW, the Property Council recommends that the Government:
a. Commit to no new taxes and no increase in property taxes; and
b. Adopt a bold fiscal stimulus measure in the Budget to create jobs and stimulate economic activity.