A package of reforms that was set to deliver massive gains to the property and development sector, while ensuring some of the benefits were returned to the Victorian community, will no longer proceed.
The Victorian Government has been working with the property sector for a number of years on a range of reforms designed to cut red tape, slash approval times by speeding up planning processes, support local councils, create jobs and bolster construction.
The proposed package would have delivered $7 billion in benefits and created tens of thousands of jobs over the next 10 years.
Planning reforms would have provided for faster assessment pathways for major developments and stronger precinct planning – cutting up to six months off planning permit applications – while ensuring public scrutiny and robust assessment.
The package also would have brought social housing into line with exemptions to council rates afforded to other essential public assets, like schools and hospitals.
The Government always made one thing clear: for these reforms to proceed, there would need to be returns to the Victorian community by supporting a stronger and more sustainable social and affordable housing sector.
This package is off the table for good – it will not proceed under a re-elected Andrews Labor Government.
Despite delivering the package the sector called for, they have been unwilling to share the benefits of these reforms with the broader community.
The Government will focus on delivering our $5.3 billion Big Housing Build to deliver more homes for Victorians in need.
Quotes attributable to Treasurer Tim Pallas
“This package would have delivered massive benefits for the development sector while ensuring a modest and reasonable contribution was returned to social and affordable housing for Victorians.”
“We won’t create super profits for a sector that will not share a portion of the profits with Victorians.”
Quotes attributable to Minister for Housing Richard Wynne
“Our landmark Big Housing Build is changing lives, but this would have delivered thousands of more roofs over the heads of Victorians in need – providing them with the dignity of housing.”
“The property and development sector has chosen an extraordinary position against supporting these sensible reforms, and the dual benefits for planning and vital public infrastructure.”
Reviewed 01 March 2022