Growing pains are only just starting for Coast

Almost all the projects undertaken by the council as solutions are exacerbating the problems

Development of the new CBD at Maroochydore, Sunshine Coast. Picture: Patrick Woods

ARE we facing the perfect storm of economic catastrophe?

An already low and falling household income, corresponding disappearing disposable incomes, a huge local trade deficit which is shrinking money circulation, a massive transfer of local retail to franchises, department stores and malls, the proliferation of "foreign” fast food outlets

All these things will slowly wind back the local business environment so much, that the 3 per cent closure rate predicted (daily.com.au, March 23) will for us be closer to 10 per cent.

And once on that slippery slope, with its loss of jobs and further deterioration in money staying local, a regional recess or depression will be inevitable.

In fact, there is no proper planning direction to remedy this trend.

Almost all the projects undertaken by the council as solutions are exacerbating the problems

They are increasing the amount we are importing, without any noticeable improvements in our exports.

It must be accepted by most that the 15,000 jobs that were to be generated by the Maroochy CBD SunCentral, won't happen.

It is problematic if there was that number of office workers on the Coast and the idea that any large corporations were intent on setting up here, should have been confirmed with proper contracts, before the ratepayers emptied $200 million into the project.

That it is probable, in order for the current administration to salvage some creditability, that before the next council election, much of this will be sold off as apartment tower block sites.

What the community has to be aware of is the price we get for our investment. If the blocks are sold at "fire sale” prices in order to save face for the council, this will be a doubly bad outcome for us.

Plus we will be up for the $100 million or so for the Tower of Power town hall

The consequences of this concentration of close packed apartments, will be traffic congestion and the great visual impairment

It will also hugely increase our import bill for all the materials brought in to construct these towers and our debt bill for locals with all the borrowing necessary to finance the developer's profits

This scenario applies to almost every project the council is undertaking or is proposing - the claim for benefits don't exist and they will worsen our trade deficit and debt level.

The jobs they speak of are either short term, non-existent or will require multiples of their value to be borrowed to finance them.

The economy of the Coast is being run into the ground, and with it will go the environment and its lifestyle.

We probably have about one or two elections to save it. Beyond that it will be too late for many of the people in our community.

MICHAEL BURGESS

Parrearra

Originally published as Growing pains are only just starting for Coast