With governments set to boost infrastructure spending to help lift the economy out of recession, Professor Andrew McNaughton said they needed to establish a levy, before the preferred sites of Sydney stations and other transport projects were announced.
Professor McNaughton said the timely introduction of ‘value-capture’ legislation would ensure governments receive a share of the uplift in property prices."If you don't, then almost within minutes the land value has shot up and transactions have started to take place. You have a very short window in which to place ... a charge," he said.
State and federal governments are spending billions of dollars on new roads and rail projects in and around the site of Western Sydney Airport.Professor McNaughton told a federal committee last week that governments needed to put in place charges on land the moment they announced preferred sites for stations even if the money did not come in until later.
Mmm government insiders already know where the planned stations and land acquisitions are
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