I'm sure the same is true for the rest of the country. Australia's capital cities are the great brand names of this nation. Please let me make clear that when the Property Council refers to cities we don't simply mean central business districts and we certainly don't mean buildings. We are talking about the people, the capital and the spirit that are a magnet for business and cultural activities. The Property Council's ongoing research into capital cities shows they are the principal generators of Australia's economic wealth.
Cities are the main home of small businesses.
They are also the country's largest employers and offer the greatest opportunities for employment growth. Industries located in cities generate the lion's share of government revenue through taxes on corporate activity, land, tax, CGT, payroll tax, stamp duty and income taxes on city workers. We believe these facts make our capital cities Australia's greatest asset. Unfortunately these facts aren't well recognised by federal, state and territory governments. As a result, they have starved capital cities of funds.