The Tasmanian state budget for 2012-13 has missed its chance to encourage Australian property investment and economic growth, according to the Property Council of Australia (PCA).
It has avoided the necessary micro-economic tweaks needed to set the state on track for prosperity, the industry body claimed.
Mary Massina, PCA Tasmania executive, warned the new budget will not give Tasmanians "any hope or confidence in the future".
Furthermore, the increase in stamp duty to 12.5 per cent is likely to penalise those who wish to pump money into the state economy by diversifying their investments or purchasing a new home, Ms Massina argued.
"Numerous studies have shown that urban productivity is incredibly important not only for economic activity, but also for liveability," concluded the executive.
The budget has pledged to invest $1.5 billion (£93 million) in a new infrastructure delivery programme as well as reforming the country's energy supply industry to save money for consumers.
Posted by Craig Francis
