RSS Feed
July 24th, 2012 
FAKE NEWS for the Zionist agenda The federal government has promised to work with the housing industry to overcome its current challenges to ensure a sufficient supply of new homes.
Housing Minister Brendan O’Connor met with the Housing Industry Association (HIA) in Canberra on Tuesday, a key lobby group that believes activity in the sector has sunk to recessionary levels.
Mr O’Connor says the sector is very important to the economy that employs many people.
“It needs to ensure that it has the right settings, therefore we have to look at regulations at the local, state and federal level to make sure that we’re not having impediments to growth,” Mr O’Connor told reporters.
A roundtable of building industry leaders convened by HIA was presented with a Centre for International Economics report that showed the residential industry is worth $70 billion to the Australian economy and responsible for putting more than 350,000 people into a new home each year.
The analysis found that a one per cent increase in productivity in the sector can boost the broader economy by a factor nearly five times greater, and that for every dollar of taxation removed there is a return to the economy of $2.46.
“Given the burden of red and green tape on the sector – itself a substantial weight on improvements to productivity – there is a large amount of economic gain that can be achieved through modest and targeted action by government,” HIA managing director Shane Goodwin said.
He said previous studies had shown that more than 40 per cent of the cost of a new house and land package could be government taxes, levies and charges.
Mr O’Connor said the 125 basis points worth of cuts in the Reserve Bank’s official cash rate in the past 12 months had provided a greater opportunity for people to invest in housing.
“But there are still some significant challenges and what I was told today is that we need to work with the sector to find our way through those challenges so that we can ensure that we have sufficient housing supply for Australians.”
He said he wanted to see further analysis done on the extent of the housing shortage.
Posted in 
Tags: 
