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Creation Date: Tue, 05 Apr 2011 GMT NSW Coalition headline commitmentsPrior to the NSW election, the Property Council of Australia asked the NSW Coalition to outline their key pre-election commitments as they relate to our industry. The key commitments made by the NSW Liberals and Nationals are summarised below. Tax and Planning commitments Repeal the ad valorem tax introduced in the 2010-11 Budget, saving the property sector $429 million over four years. Red tape reduction commitments Reduce red tape for small business by introducing a one on, two off rule for new regulations, and committing to 20 per cent red tape reduction in the first term. Infrastructure commitments Establish Infrastructure NSW to deliver infrastructure. Based on the Infrastructure Australia model, the agency will be overseen by an expert board and independent Chair. Infrastructure NSW will prepare 20 year State Infrastructure Strategy with detailed five year Infrastructure Pans funded through Budget forward estimates. Since the election on March 26, the new Premier has vowed that all election promises will be honoured despite the now apparent $4.5 billion Budget shortfall.
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