Page 444 - Week 02 - Tuesday, 18 March 2014
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Such initiatives have allowed the ACT labour market to compare favourably to most other jurisdictions, with the ACT recording the lowest trend unemployment rate of 3.4 per cent and the second highest trend participation rate of 71.4 per cent in February 2014. The ACT’s unemployment rate remained well below the national average of six per cent in February 2014.
This government has undertaken a reform of the ACT tax system, making it fairer, simpler and more efficient. This government has the most ambitious and far-sighted reform agenda in Australia. A nine per cent improvement in the efficiency of our tax base is expected by 2016-17—in other words, a yield of $57 million for our economy which is no longer absorbed by administration and compliance.
Sales activity in the commercial sector has increased following our decision to drop commercial conveyance duty to 5.5 per cent for properties valued at $1.65 million or greater, now among the lowest rates in the country. The reduction of payroll tax is also delivering important support for small business, both to individual businesses and to the government’s drive for diversification.
In addition to the considerable investment in major projects under the new city plan that was announced by the Chief Minister last week along with other projects such as the north Canberra public hospital, the government remains committed to job creation through support for front-line services. As part of this, major capital works are underway in the upgrade and building of new emergency services facilities across the ACT in order to meet the needs and expectations of the ACT community for at least the next 20 years. It will ensure that our emergency services will continue to have the capacity to protect life, property and the environment as the city grows.
Additionally, the government has provided funding of approximately $17 million over two years for the construction of a new fire and rescue station at south Tuggeranong. As part of improving access to justice to the ACT community, the government is delivering new court facilities through a public-private partnership announced in December 2013. It will involve the protection and refurbishment of the existing Supreme Court building and the construction of a link building to the existing Magistrates Court building. The project will span three to four years and will engage with local industry providing jobs during the construction phase. The completed facility will also provide ongoing jobs in the management and maintenance
This government is listening to the needs of businesses that support jobs in our community. The red tape reduction panel is identifying regulations that impose unnecessary burdens, costs or disadvantages on business activity in the ACT. The panel comprises representatives of the Canberra Business Council, the ACT and Region Chamber of Commerce and Industry, the Council of Small Business of Australia and ClubsACT.
A number of red tape reduction reforms are currently in place and are providing a direct benefit to both business and the community. Changes to the length of licence terms with amendments to various licences and registrations in the Attorney-General’s portfolio are being progressed under the justice and community safety
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