Why we need a betterment levy in NSW: better late than never

The NSW Productivity Commission in November released its final report on the Review of Infrastructure Contributions in NSW (PC Review). It controversially ruled out capturing a share of windfall gains made from rezonings or the granting of additional development, even though this is widely used in voluntary planning agreements (VPAs) and state infrastructure contributions (SIC). […]

Funding Sydney: Where’s the value capture?

The release of the Greater Sydney Commission’s “A metropolis of three cities” at the same time  as Transport for NSW’s Future Transport strategy amounts to a great step forward for planning and delivering Sydney’s growth.

Value Capture: how do we stop Value Escape?

There seems to be almost unanimous and vigorous agreement that the pursuit of value capture is a worthwhile initiative in helping us to augment scarce infrastructure funding. However, we seem to be engrossed in writing thought leadership, debating policy and gathering evidence rather than getting on with implementation. At a time when we are moving […]

Why the Grattan Institute is wrong on value capture

The Grattan Institute has produced a worrying report on value capture. It appears to be doing the bidding of traffic engineers who are very worried by the shift away from their “dark arts” to one involving the urban development market. Last week there were three seminars/conferences in two days in Sydney and one in Perth. […]

Grattan Institute casts doubt on value capture for transport

The Grattan Institute has told state governments to be wary of a federal push to use value capture as a way of funding transport infrastructure, saying the mechanism works better in theory than in practice. Value capture refers to policy where governments capture some of the increase in land value that occurs as a result […]