Red tape throttling economic recovery

ONE of Queensland’s most prolific private developers has pilloried the performance of the Palaszczuk Government, saying tax hikes, red tape and a reticent attitude towards resources were hampering an economic recovery in the regions.

Outgoing North Queensland Cowboys chair Laurence Lancini said Townsville and its surroundings needed much more than a football stadium.

“The stadium is a wonderful achievement for Townsville and North Queensland and there is no doubt it will be a stimulus for the city,” he said.

“But it is not going to fix the city alone. More needs to happen and between state and local government they need to do more.”

A property industry veteran who had completed retail, industrial and residential developments in Townsville, Brisbane, Cairns, Mackay and central Queensland, Mr Lancini said in his 38-year career, he had never seen the city’s economy as bad as it was right now.

Mr Lancini said the Government’s tax increases had hurt operations trying to stay afloat across the state.

“Our industry, the property industry, is the biggest employment in Queensland,” he said.

“And if you look at property taxes the increases have been enormous and they have chased the investors away.

“They have been passed on to mum and dad tenants and the operators.”

Mr Lancini said the cost of these tax hikes was being compounded by the time it took to get projects approved.

“I have been in this industry for a long time and I have never ever seen red tape like we have got now,” he said.