Greetings all to 2023.
The year of the Rabbit is upon us which promises prosperity and happiness. I certainly hope that those predictions come true as a just reward for overcoming the Covid pandemic trials and tribulations we have experienced over the last couple of years. If you are still standing in business after those monumental hurdles have been overcome you deserve every bit of prosperity and happiness that comes your way.
The Light Rail Stage 3, from Broadbeach to Burleigh has commenced and I have already been contacted by business asking for what compensation is available to those businesses severely affected by the works in front of their premises. The Labor Government made it clear from the outset of Light Rail that no compensation would be payable to anyone affected by building works so unfortunately for those businesses directly impacted through my electorate it is just another cross to bear over the next eighteen months. On top of further business imposts such as the light rail construction; even the Federal Treasurer is warning of significant economic hardship ahead from other world economies which will severely impact the Australian economy over the next couple of years. The biggest concern of course is our largest trading partner in China with their recent covid problems on top of their thinly veiled intentions towards Taiwan, making it extremely difficult for their trading partners such as Australia to take a neutral position on their overly ambitious territorial expansion. Just as we have world-wide ramifications on the cost of living as a result of Russia’s invasion of Ukraine, any ugly incursions in our Asian region will have enormous economic ramifications for Australia particularly in our mineral resource sector. Let us all hope that sanity prevails and the political invective that inspires trade sanctions becomes a thing of the past.
And the recent high inflation rates and the corresponding interest rate hikes will undoubtably have an effect on our buoyant real estate and construction industry. I do think the new work from home paradigm that has emanated from covid prevention practices has enhanced the Gold Coasts reputation as the best place to live, work and play which will mitigate the financial outfall of escalating interest rates on the housing markets. However, it is not plausible to think our housing market, particularly the unit market will escape some diminution over the next 12 months.
That being said, we are still yet to see our international visitors return to the Gold Coast in droves and I feel that when covid threats cease and the airlines get their act together again, our tourism destination will boom on the back of international arrivals which should more than make up for our domestic issues losses to pave the way for a better economic future.
Until next time…
Should you have any State issues you would like to discuss please feel free to contact my office on:
Tel: 5600 0100 / Email: Mermaid.Beach@parliament.qld.gov.au
You can also find me on Facebook at www.facebook.com/RayStevensMP.
Ray Stevens MP
State Member for Mermaid Beach