A tax on the developers

by Richard Denniss in The Canberra Times
Originally published in The Canberra Times on May 26, 2012

It is the perceived value of a location, not the cost of construction, that determines the market price for housing. It’s amazing how progressive business has become in Australia. The mining industry’s biggest concern seems to be creating jobs for migrants. The banks just want to help small business grow and the property developers of Canberra just want to make houses affordable for young families. If it were true it would be touching, but it’s not. It’s just that business lobby groups in Australia have become far too sophisticated to mention the little issue of profit when they participate in public debate. Sure they may make lots of it, but they argue that’s incidental, they really just want to help the community.

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