The head of property development industry group Urban Taskforce Tom Forrest said the treasurer’s “thought bubble” lacked proper consultation with the industry who felt blindsided by the proposal,
“There is the very real chance that the unilateral announcement of the possibility of changes to the tax regime will threaten planned investments. Thought bubbles may be good politics, but they have real consequences for companies and for investment decisions.”
Forrest added he was concerned planned public domain investments could now be at risk as a result of the surprise changes and the proposal “undermines the confidence the commercial sector has in government.”
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