Property industry body welcomes new appointments
The federal opposition has announced a new shadow ministry following an updated Coalition agreement, introducing Ted O’Brien (pictured above left) as shadow treasurer and Senator James Paterson (pictured above right) as shadow finance minister.
O’Brien, who serves as deputy leader of the Liberal Party and represents the Queensland seat of Fairfax, steps into the role previously held by Angus Taylor. Before this appointment, O’Brien was the shadow minister for climate change and energy.
In Parliament, O’Brien has chaired the House of Representatives Select Committee on the Environment and Energy, and served on the economics committee, as well as the Joint Standing Committee on Foreign Affairs, Defence and Trade, and the Treaties Subcommittee.
Paterson, meanwhile, takes on the finance portfolio, in addition to responsibilities for the public service and government services, replacing senator Jane Hume. He had previously been shadow minister for home affairs, cybersecurity, and was shadow cabinet secretary.
The Property Council of Australia welcomed the new appointments, urging the opposition to support investment and streamline regulatory processes.
“We congratulate Ted O’Brien and James Paterson on their appointments as shadow treasurer and shadow finance minister,” said Property Council chief executive Mike Zorbas. “We look forward to engaging with them on policies to boost investment into the productive property assets our cities need.”
Zorbas also acknowledged senator Andrew Bragg’s new responsibilities covering productivity, deregulation, and housing, and praised the addition of Senator James McGrath as shadow minister for urban infrastructure and cities.
“The property industry is dealing with slow federal environmental approvals, and as a nation we are building half as many homes per hour worked than we did 30 years ago,” Zorbas stated. He called for policies that support both foreign and local investment and improvements to the Foreign Investment Review Board processes and other regulatory settings.
“The property sector is the country’s second-largest employer and contributes over 10% of our GDP,” he said. “We look forward to working with shadow ministers on creating a pro-investment policy environment and debate in the new parliament that will boost Australia’s prosperity.”
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