news, act-politics

Canberra's business lobby is calling on the ACT government to prioritise a major revitalisation of the city's centre, which it says is dilapidated and "not fit for purpose". The Canberra Business Chamber wants the government to commit to rejuvenating the city precinct and finally deliver on a suite of long-promised projects, starting with a new convention centre. A new theatre complex and sports stadium must be delivered within the next 20 years, the lobby says, as it stressed the need for a long-term pipeline of projects to encourage private sector investment in the territory. The call comes as The Canberra Times on Wednesday revealed the ACT government was investigating plans to build an underground city bus interchange, with the existing above-ground space to be transformed into a vibrant public precinct. The chamber's city revitalisation push is outlined in its submission to the government's 2019-2020 budget, which also advocates a freeze on new property-based taxes and measures to address dodgy construction work and skilled worker shortages. In the submission, the chamber said a rejuvenation of Canberra's city centre was the "highest priority for the ACT". It said the city's heart was "not fit for purpose", describing the precinct as "haphazard at best, with pockets of dilapidated and unused infrastructure". The chamber noted the City Renewal Authority's efforts to enliven the space, but said those works had not resulted in any tangible improvements. The submission urged the Barr government to develop and deliver on a 20-year infrastructure plan, which would create jobs, stimulate private sector investment and result in long-term economic savings. It said the first priority was construction of a long-awaited new convention centre in the capital. The ambitious proposal - which Chief Minister Andrew Barr suggested could cost up to $900 million - has so far failed to get off the ground, with an ACT assembly committee inquiring into the project this year conceding it was unlikely to be built in its current form. The centre's design and high security requirements meant the project was considered not economically viable, according to the committee. The business chamber said building a new theatre complex and sports stadium were the next priorities, while a duplication of the Barton Highway should also be completed within the next two decades. A spokeswoman for Mr Barr said the government was still planning to build the convention centre, theatre and stadium within the next 10-12 years. "The redevelopment of the Canberra Theatre precinct is the highest priority, the stadium the second priority and a new convention centre the third priority," the spokeswoman said. The government's 2018-19 budget included $1.2 million to develop a business case for a new 2000-seat theatre. The spokeswoman said a decision on the new sporting venue hinged on ongoing discussions with the federal government over the future of Canberra Stadium. Options to redevelop the Bruce venue or build a new city stadium remain on the table. The spokeswoman said the chamber's description of the state of the city centre was "a little unkind", but agreed on the need to improve the amenity of the precinct. She said the renewal authority had been established for that purpose, and was now overseeing an "unprecedented number" of private development and government projects in the city's heart. The business chamber's submission, one of 139 received during consultation on the ACT budget, also called on the government to stop the introduction of any new property taxes, fees or charges. The business lobby said increased land taxes were resulting in a decreased rate of return for owners, potentially reducing the "financial attractiveness of the ACT" to investors and financiers. "The broadening of the tax base is having a negative impact on investment in the ACT," the chamber said. "Residential property investors have seen increases in rates and land taxes that equate to more than 20 per cent of the amount of rental landlords of those properties can expect to receive. Such drastic increases cannot be passed on to residential tenants thus lowering returns on investment and the preparedness to invest in residential property." The taxes also hit housing affordability and also commercial property. "Commercial properties above $600,000 now pay property rates of 5.2 per cent on unimproved land value, in effect stamp duty every year. Reductions in other business taxes such as insurance does not offset these costs when compared to the rise in general rates," the chamber said. "Tenants slugged with significant rent costs are contemplating the viability of doing business in the ACT. The attractiveness of renting in Queanbeyan or even moving further afield is becoming a reality for businesses in the ACT." The submission also suggested a range of reforms to tackle the Canberra's building quality woes, including the introduction of a code of conduct for building certifiers.

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