Commercial rate growth will be capped at 2.2 per cent for the next term of government and the payroll tax rate will be cut from 6.85 per cent to 5.45 per cent for payrolls up to $5 million, if a Liberal government is elected on October 19.

“Since the ACT Labor-Greens government embarked on tax reform, commercial rates have increased on average at about 8 per cent per year,” said Canberra Liberals leader Elizabeth Lee.

“These increases, together with the highest rate of payroll tax in the country, are a significant imposition on businesses who have continually told us that high costs to run a business in the ACT and red tape are limiting their ability to grow and succeed in Canberra.

“The Canberra Liberals’ business package, which also includes a new deregulation framework, abolishing the City Centre Marketing Improvement Levy, a ‘Canberra created’ grants scheme to support buying local and a Business Continuity Guarantee that will support businesses which are impacted by avoidable delayed public works programs will go a long way in supporting businesses to succeed.”

The Canberra Liberals have also unveiled a tourism package aimed at increasing the number of attractions, events and facilities that Canberra and the surrounding region can utilise to benefit the ACT tourism industry.

These include:

• Beginning construction of a new city stadium and convention centre, in the first term of government.
• Continuing with the Canberra Theatre redevelopment.
• Bringing the Supercars Championship to the ACT to be held at EPIC.
• Establishing a $1.5 million events attraction fund.
• Providing $4 million worth of grants in matched funding for eligible wineries, breweries and agricultural businesses to help attract visitors to our regions and local businesses. 
• Providing an additional $5 million to improve and establish new outdoor tourism facilities in our surrounding parks and bushland.
• Increasing the ACT’s destination marketing budget by an additional $4 million over the next two years to help increase visitors and overnight stays in Canberra.

“By investing in infrastructure such as a new stadium in the city, new national convention and providing funding to attract tourism to the ACT for events the Canberra Liberals are committed to increasing the number of events in the ACT, creating thousands of local jobs and increasing foot traffic for local business,” Ms Lee said.

“For too long the ACT has been deprived of any kind of ambition or development of cultural and entertainment infrastructure.

“This package provides a fresh opportunity for Canberra to announce to the rest of Australia and the world that Canberra is open for business.”