Master Builders SA: It’s the Budget’s job to create jobs
NEXT month’s State Budget must include new tax cuts and major infrastructure plans targeted at turning around an alarming spike in youth unemployment, a major industry group says.
NEXT month’s State Budget must include new tax cuts and major infrastructure plans targeted at turning around an alarming spike in youth unemployment, a major industry group says.
Master Builders SA chief executive Ian Markos said the number of jobless young South Australians was now at a 20-year high and the state was at risk of cementing “long-term inequities that will continue to punish the economy” unless immediate action was taken.
In a State Budget submission, Mr Markos called for the elimination of stamp duty for first home buyers to encourage young people to remain in the state.
The Government should also boost payroll tax concessions to encourage employers to add more jobs, he said.
The organisation also proposed a kickstart for what it calls “advanced construction” using modular building techniques, to ensure SA doesn’t fall behind other states.
“Master Builders SA proposes a ‘5x5x5’ plan, where five proposals are identified over the next five years, with each to be eligible to receive $5 million in State Government seed funding,’’ the submission said.
“This will lower the cost of entry and show a commitment to the jobs to be created.’’
Mr Markos said the June State Budget “needs to look for solutions, especially ahead of Holden’s closure’’.
“We can’t afford to give our next generation another reason to leave the state,” he said.
“Let’s finalise business cases for essential infrastructure, not just for construction jobs, but to deliver productive infrastructure to businesses that can then invest in new jobs.
“And let’s do everything we can to regain the title of being the most affordable place for housing.”
Other changes called for in the submission include reintroducing payroll tax exemptions for apprentices and trainees, further work on addressing concerns about baseload electricity generation, the Economic Development Board be repurposed and refocused to create a new statutory body — Productivity and Infrastructure South Australia — and that State Government reviews expenditure and programs to create a sustainable budget and to reduce the steady demand on taxpayers for additional revenue.
Treasurer Tom Koutsantonis said the Government had a strong record of investing in infrastructure and was in the midst of major tax reforms which would ease the burden on businesses.