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May 18th, 2012 
FAKE NEWS for the Zionist agenda Cutting stamp duty in NSW will boot the state’s economy into gear and increase government revenue, the state’s peak real estate body says.
Real Estate Institute of NSW (REINSW) is calling on the government to cut transfer stamp duty fees by 0.5 per cent to stimulate the state’s slowing property market.
“The Reserve Bank’s recent action is a clear sign that the economy has entered an uncertain phase and is in need of stimulation,” the REINSW said in a statement.
“Whilst the cut in official interest rates is welcome, stimulation of the property market can’t just be left to the Reserve Bank.
“The NSW Government needs to heed the warning of declining property transactions which is cutting into state government revenues now and in the future.”
Western Australia slashed its transfer duty rates by 0.9 per cent but saw a revenue increase of $709 million because the cut stimulated the market, the REINSW argues.
“Already we have seen the Reserve Bank take immediate and urgent steps to cut interest rates in order to stimulate activity,” the Institute said.
“These cuts need to be reinforced by additional and wide-ranging policy responses such as our stamp duty plan.”
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