The managing director of Savills Queensland says government promises to cut red tape have been successfully delivered.
Matthew Buckley says recently released policies show the length the government is willing to go to rebuild certainty and stimulate construction as an important pillar of the Queensland economy.
Buckley says measures to cut red tape have been welcomed by “a development industry hungry for certainty in the planning of their developments”.
Recent moves to scrap the $7000 first home buyers grant and replace it with a $15,000 first home owners construction grant is “clearly going after immediate activity in the residential construction market.”
He says widening stamp duty concessions to all home-buyers will encourage migration to the state.
Buckley was particularly pleased with moves to reduce certain infrastructure charges for businesses.
“The most valuable and immediate stimulus is the complete removal of transport, recreation and stormwater infrastructure charges for projects that commence in the next six months and complete by March 2015. Then, for projects that start in April 2013 to September 2013 and complete by March 2015, they will receive 50% discount to the same charges,” Buckley says.
“The Government cannot change the post GFC economic environment by themselves. But these policy initiatives, alongside a clearly more accessible and business-friendly approach might just create the incubator for recovery that we have all be waiting for.”