Treasurer no show at UDIA conference

Written on the 2 October 2009

Treasurer no show at UDIA  conference

DEVELOPERS and UDIA members were today left hanging when State Treasurer Andrew Fraser pulled a last minute no show at the Institute’s state conference on the Gold Coast.

Disgruntled planners, developers and realtors were left perplexed as two economists and a business banker did their best to answer the tough questions on Queensland’s infrastructure and planning future.

A comedy diversion was created when Access Economics director Chris Richardson, got a spark from the floor when asked about bank stability and whether a recessionary repeat was likely in Australia.

“The top four banks won’t fall over, they’re boring bastards, they will live,” said Richardson, who happened to be sitting alongside Queensland business banking manager for the NAB Julian Pearce (pictured).

“While there are some toxic assets held by the European banks and the US commercial property sector will have its problems, Australia will do well, because China is doing well.”

But Richardson encouraged a cautious outlook give the accelerated and ‘unsustainable growth’ in the region.

“The China rebound has been magnificent, maybe a little too magnificent. Credit is easy to come by in China, but those loans can go bad,” he says.

Executive director BDO Kendalls Mark Gray, brought issues facing members back into focus regarding infrastructure and deregulation.

“The role of our government is large in our economy and I doubt that state and local governments will ever relinquish power in development and planning,” says Gray.

Richardson was less conservative: “I’m not impressed with the performance of local or state governments here, but thank heavens you’re not in NSW.”

One industry doyen was heard to say: “I would have liked to hear the Treasurer’s views”, at which point his colleague chimed, “well there lays the problem, you never hear from the Treasurer on these issues. It’s very disappointing."



Latest News

BELLAMY'S FINDS EXPORTING BABY FORMULA INTO CHINA IS NO CHILD'S PLAY

BELLAMY'S (ASX: BAL) shares have suffered a 40 per cent drop in value today after the company hit a regulatory...

BRISBANE WATCH BRAND ADINA AIMS FOR ICONIC

ADINA watches is at a turning point in its history, 45 years after being founded by Robert 'Bob' Menzies i...

WHY YOU SHOULD CARE FOR YOUR BODY AS MUCH AS YOUR BUSINESS

ENTREPRENEURSHIP is a busy business. It can be all-consuming, but it is important not to neglect your health Y...

BULLETS BACK IN THE BUSINESS COMMUNITY

ALTHOUGH new to the current south-east Queensland sporting landscape, the Brisbane Bullets have a rich basketball ...

Related News

JB HI-FI IS THE GOOD GUY IN $870 MILLION ACQUISITION

ELECTRONICS giant JB Hi-Fi has formally completed its $870 million acquisition of home appliance chain The Good Gu...

ACCC ACTS AGAINST MERITON'S RIGGED REVIEWS

MERITON Property Services is under fire from Australia's main consumer watchdog, after it allegedly engaged in mi...

ACCC FIRES WARNING SHOT TO IVF PROVIDERS

IVF clinics have been put on notice by consumer watchdog, the Australian Competition and Consumer Commission (ACCC...

BIG W CEO QUITS AFTER 11 MONTHS

SALLY MacDonald has resigned as chief executive of BIG W ending her tenure at the helm of the struggling discount ...

Contact us

Email News Update Sign Up Contact Details

Subscribe to our mailing list

* indicates required
Email Format

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter