Newman Government to cut stamp duty and weaken ULDA

A change in Government in Queensland now appears inevitable. Opposition Leader Campbell Newman is treated almost everywhere he goes as if he is the Premier-in-waiting, with business and community leaders listening intently to him, to discern how Newman Government policies will affect them. I noticed this at the Property Council breakfast I attended at the Brisbane Hilton this morning, at which Mr Newman was warmly embraced by the Queensland property and construction industry, presumably because they expect him to build lots of things, as he did while Lord Mayor of Brisbane.

Mr Newman was at the breakfast to launch his property and construction industry strategy, which has attracted some criticism for being full of motherhood statements, as if that makes it different from any other election policy document either side of politics has ever released. The Brisbane Times reports:

Queensland’s Urban Land Development Authority and South Bank Corporation would have their powers wound down and state planning laws may be overhauled under a Liberal National Party government.

LNP leader Campbell Newman today released his property and construction industry strategy, a document he denied was full of vague “motherhood statements”.

Mr Newman used much of his speech to the Property Council breakfast to repeat key LNP campaign messages and previously announced promises, including cuts to home stamp duty and the axing of the waste levy.

Mr Newman, a critic of the ULDA during his time as Brisbane lord mayor, also repeated his March 2011 pledge to curtail the organisation’s powers and instead empower local councils to make planning and development decisions.

Cutting stamp duty and curtailing the ULDA’s powers are good policies. Stamp duty is a bad tax because it discourages people from moving house, possibly to a new location with better employment prospects. And the ULDA creates a lot of risks for the Government, which really shouldn’t be in the property development business. My previous thoughts on these issues are here:

ULDA is a financial risk for Government

Inefficient state taxes

We should cut stamp duty, not increase it

 

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1 Response to Newman Government to cut stamp duty and weaken ULDA

  1. Pingback: Government right to consider scrapping ULDA | Queensland Economy Watch

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