10 June 2010
The Urban Taskforce welcomed key commitments by the NSW Leader of the Opposition, Barry OFarrell in his “budget-in-reply” speech today.
“We welcomed the strong commitments made by the Government in this year’s budget and we’re pleased that the Opposition has made its own solid pledges today,” Mr Gadiel said.
“The Opposition’s decision to support the reduction of stamp duty for ˜off the plan homes and for people over 65 is welcome, and they should be congratulated for their promise to extend the concession to those aged over the age of 55.”
Mr Gadiel also supported the creation of a major new infrastructure fund.
“Their willingness to fund expanded urban infrastructure programs through their new Waratah bonds is a positive move,” he said.
“This bold step will expand the capacity of the state government to invest in our urban areas and ease infrastructure bottle-necks.
“This week the government has made key funding commitments to the South West rail link and the Dulwich Hill light rail extension.
“The new Opposition infrastructure fund will create a mechanism to fund the North West rail link a transport initiative that will make it easier for Sydney to respond to the challenges of population growth and demographic change.
“We also urge them to look for the opportunities for new bus priority corridors, including bus transitways and bus lanes.”
Mr Gadiel said that, in light of the Opposition’s commitment to housing affordability, it should review its recent promise to scrap plans for new compact, pedestrian friendly residential communities around the town centres in Ku-ring-gai.
The Urban Taskforce is a property development industry group, representing Australias most prominent property developers and equity financiers.
The construction activity made possible by property developers contributes $78 billion to the national economy each year and creates 849,000 direct jobs.
