Property investors flee Queensland, one year on from Labor Renters’ Tax announcement

The uncertainty of Labor heaps pressure on Queensland Housing Crisis

Reports today reveal investors are losing confidence and fleeing the Queensland property market, mounting pressure on an already-stretched rental market and adding to the Queensland Housing Crisis.

One year on from Treasurer Dick’s land tax cash-grab, it’s clear investors are spooked by the uncertainty created by the Palaszczuk Labor Government’s Renters’ Tax.

Last year, the LNP Opposition warned the ill-conceived Renters’ Tax would drive-out investment and drive-up rents.

Today, Queensland faces all-time low rental vacancy rates, skyrocketing rents and property investors selling-up to get out of Queensland.

Labor’s Renters’ Tax was announced with no consultation, no analysis and no understanding of what it would mean for Queensland renters.

The damage to investor confidence in Queensland was swift and enduring.

Queenslanders are now paying the price for Labor’s chaos and crisis.

The Treasurer’s thought-bubble has created carnage for renters.

And he has shown no remorse, claiming he “still stands by everything he’s said about land tax”, leaving Queenslanders in fear he will resurrect it at the next opportunity.

The Treasurer promised 26 times before the last election, there’d be “no new or increased taxes” under the Palaszczuk Labor Government, before breaking that promise.

Now, Queensland’s scorned Treasurer has been humiliated twice by the Premier, first dumping his tax behind his back and now admitting she hasn’t even read his “manifesto”.

Queenslanders can’t trust this Treasurer and can’t trust Labor to ease the Queensland Housing Crisis they created.

This is a Government more interested in their political survival than the the need of Queenslanders to have a roof over their head.

Queenslanders deserve better than the chaos and crisis of the tired, third-term Labor Government.

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