The Urban Development Institute of Australia (UDIA WA) has welcomed the Federal Government’s response to the Productivity Commission Report on GST distribution, stating that it will be a much needed boost to the national economy and ensure the WA economy is well and truly on track for growth.
“UDIA WA has been supportive of calls for the Federal Government to ensure that the GST system is fair and equitable for all states and territories,” UDIA WA President Nick Allingame said.
“From a WA perspective, we have suffered the consequences of a flawed system for a number of years now and the Federal Government’s move to set a 70c floor for every state in the year 2022 will go a long way to ensuring a fairer system for all,” Mr Allingame said.
“For WA in particular, this decision could not come at a better time, we are setting up for a market recovery and this will give business and consumer confidence a positive boost,” Mr Allingame said.
“The WA property market has reached the bottom of this market cycle, and with more money invested in the growth of our state, we are likely to see an uplift across all sectors,” Mr Allingame said.
“We hope that the state and territory governments along with the federal opposition, will support the Federal Government’s initiative,” Mr Allingame said.
Ends.
For more information:
Gemma Osiejak
UDIA WA Executive Manager Communications & Marketing
E: gosiejak@udiawa.com.au
M: 0421 506 819