Page 1516 - Week 06 - Thursday, 2 July 2020
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We have had significant population growth of about 10,000 people each year over that time. This has been one of the contributing factors to the ACT’s nation-leading economic growth, the fact that we have had more new businesses form in the ACT than most other states and territories have. In fact, our economic growth has been faster than that of the rest of the nation. Far from seeing an exodus to Queanbeyan, in fact we have seen our city grow faster than the region and our city grow faster than other states and territories. When you look at the actual economic statistics—
Mr Coe interjecting—
MR ASSISTANT SPEAKER: Mr Coe, I will have to warn you.
MR BARR: they do not back up the narrative of the Leader of the Opposition. He is in the business of talking Canberra down; he is renowned for his negativity; he is renowned, throughout this city. In fact, one need only see the public responses to his policy pronouncements and his forays into the local media and his suggestions to see just how poorly received they are. Meanwhile, we focus on delivering actual policy reforms for this city.
The next one I wish to highlight is the commencement of the motor accident injury scheme, which from 1 February this year has seen average CTP premiums for passenger vehicles be $60 less than they were one year earlier and hundreds of dollars less than they would have been on the trajectory if the system had not been reformed.
The combination of all these measures goes to see hundreds and hundreds of dollars returned to Canberra households by good, sensible policy reform and, for those who benefit from the tens of thousands of dollars in stamp duty reduction that is clearly flowing through into increased demand at a time when it is needed in terms of housing construction in this city, they are timely and important policy interventions.
I note the issues raised in my amendment that Icon Water has announced that water and sewerage bills for households in the ACT will not increase this financial year. I, of course, note again a recommendation of the New South Wales Liberal government’s review, released yesterday, into state and territory taxation to abolish insurance duties in that state—again, an initiative that the ACT undertook in 2012 and completed in 2016-17 which sees a 10 per cent reduction for every Canberra household and business on every insurance premium that previously attracted a 10 per cent duty. That is saving households hundreds of dollars a year and businesses thousands of dollars a year, depending, of course, on the number of insurance policies that they have in place. It is good public policy to encourage the take-up of insurance, and that is why the ACT government, many years ago, commenced the abolition of that tax and completed the abolition of that tax in the 2016-17 fiscal year.
All these good public policy approaches have come together both in terms of economic growth for this city, faster than the rest of the nation, and, during this pandemic, targeted support to assist households and businesses in a year that they need it most.
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