Role of transport connectivity on stimulating development and economic activity
The Property Council of Australia is pleased to provide a submission to the Committee for its inquiry into the role of transport connectivity on stimulating development and economic activity.
The Property Council is the peak body representing the interests of owners and investors in Australia’s $670 billion investment industry.
Our members are long-haul investors in cities, so understand the case for improving their productivity, sustainability and liveability – and the essential role played by infrastructure.
We do however remain cautious of the current approach to value capture. Property is already a highly taxed asset class, contributing over 16 percent of all tax revenue across the nation.
There are also myriad taxes that capture value, and we would urge extreme caution around the creation of new forms of taxation that add to the burden.
Our submission does however point to solutions such as tax increment financing and the UK City Deals model, both of which can serve to encourage the right investment in infrastructure and stimulate growth.
Download the submission below.