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Legislative Assembly for the ACT: 2018 Week 12 Hansard (31 October) . . Page.. 4543 ..

any recent revaluations and the like. That would no doubt provide some further insight into those particular issues as they pertain to the examples the Leader of the Opposition has given.

MR COE: Treasurer, how are businesses in Phillip expected to cope with such high levels of rates and high increases in rates when they are competing with online businesses and also interstate businesses?

MR BARR: Online and interstate businesses also face business costs. Those would include, amongst other things, very high stamp duties and insurance taxes that would apply in other jurisdictions and that do not apply in the ACT.

MR WALL: Treasurer, how many businesses have to relocate or close down due to the high level of rates and charges imposed by your government? What impact will this have on consumers across Canberra, but particularly the Woden community, with respect to the dealerships?

MR BARR: There are now 27,500 businesses whose main place of operation is the ACT. That has grown by 2,000 in the past three years. What we are seeing is considerable growth in business activity in the ACT. I think the—

Opposition members interjecting—

MR BARR: outgoing CEO of the Canberra Business Chamber, Robyn Hendry, described Canberra's economic conditions as booming and as a boom time for businesses. There has been a very positive reaction to the abolition of—

Opposition members interjecting—

MADAM SPEAKER: Mr Coe and Mr Wall!

MR BARR: There has been a very positive reaction to the abolition of commercial stamp duty for small and medium-sized businesses on properties up to $1.5 million. That is a particular benefit for those who are looking to establish business in the ACT—

Opposition members interjecting—


MR BARR: and there has been quite a significant amount of interest in new investment in the ACT. We do, of course, have the fastest growing economy in Australia—

Ms Stephen-Smith: Point of order, Madam Speaker.

MADAM SPEAKER: Chief Minister, can you please resume your seat. There is a point of order.

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