It appears that the new NSW IPART rate peg measurements are forcing investors out of the market. When you look at this increase. they mention that Councils can add the increases from years that weren't increased. So, what does that mean? What happens if Councils put down on their projects. It seems Councils allocate funds to projects and the money disappears or dwindles to Executive fees and staff fees.
From Mr Google:
When factoring in bonuses and additional compensation, a Chief Executive Officer (CEO) at NSW Government can expect to make an average total pay of $200,000.
Some projects are vital and important to be commenced and completed. Why should ratepayers bear the brunt of Council rate- pegging even when it is factored down to natural disasters and COVID-19 rising costs. Our Prime Minister wanted inflation to increase, so wages increased when he was first elected. Now, does he still want inflation to rise so that rates and cost of living goes up?
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