MAKE THEM PAY: Qld Greens announce 75% Developer Tax to stop corruption and land speculation

MAKE THEM PAY: Qld Greens announce 75% Developer Tax to stop corruption and land speculation

Wednesday, October 18, 2017

The Queensland Greens today announced a 75% Developer Tax on land rezoning to reduce corruption and parasitic land speculation while raising $1.8 billion per year.

Michael Berkman, Greens candidate for Maiwar says,

“Right now, the state government hand out $2.4 billion in free land rezonings every year to property developers.”

“Instead of giving away free land rezoning, the Developer Tax would collect 75% of the increase in official land value, to be paid when a development application is approved.

“The Queensland Greens will raise $9 billion over five years and ensure property developers pay their fair share so we can provide all Queenslanders with universal access to affordable housing, schools, hospitals and clean energy.

"Property Developers have made billions of dollars in Queensland but have contributed almost nothing back to local communities.

"Just like the mining boom, we’ve suffered a wasted decade as property developers have got away with billions in extra profit while local communities are denied basic services and crucial public infrastructure. 

“Our plan would help stamp out corruption by shutting down the “gravy train” of free land rezonings which allows developers to make billions in profits.

“The Developer Tax would discourage useless and parasitic land speculation that drives up prices for everyone and only helps big property developers.

“Labor and the LNP are bending over backwards for their big donor property developer mates. The Greens want to make them pay."

Media contact: Max Chandler-Mather 0488 199 015.

The Developer Tax is based on the work of Queensland economists Cameron Murray and Paul Frijters.