Land speculation clampdown overdue

IT seems that Government incentives to assist the building industry have been pocketed by builders and developers and not passed on to the house purchasers.

The serviced land incentive, in effect, is a state subsidy to builders and developers who are already making high profits.

The reduction in capital gains tax from 40% to 20% was supposed to encourage the release of building land, yet the Government admits this has not worked, and that building land is being hoarded.