"While today's results are concerning, they provide an ideal opportunity for government to work with the private sector to attract investment and boost Queensland's competitiveness," Ms Caire said.
"Queensland has a massive pipeline of projects needed to support our growth and today's update shows that the government simply cannot afford to deliver these projects on their own.
"The private sector is banging down the door to invest in Queensland. Now is the time to unlock the door, roll out the welcome mat and remove all the barriers from planning to tax settings to welcome that much-needed investment," she said.
Ms Caire said the logical starting point is to make sure Australian-based businesses utilising global capital aren't unfairly hit with taxes such as the Additional Foreign Acquirers Duty (AFAD) and Foreign Land Tax Surcharge (FLTS).
"Shovel-stopping taxes such as AFAD and FLTS are holding up Queensland's housing supply by driving away the private capital needed for new projects and increasing reliance on government funding," Ms Caire went onto say.
"Our research shows these prohibitive tax settings have cost Queensland around 33,000 new dwellings and up to 38,000 jobs between 2016 and 2024.
"Changing the way they are applied, so they aren't inappropriately levied on Australian-based businesses, is a no-brainer to attract more investment and deliver more housing for Queensland."
The impact of these taxes on housing supply was further highlighted yesterday, with the Australian Bureau of Statistics revealing Queensland is already 33 per cent behind the level needed to meet 2029 housing targets set under the National Housing Accord.
"Yesterday's housing data coupled with today's economic update is alarming and shows there is no time to waste in rolling out the red carpet to welcome the investment needed for the houses and infrastructure of the future," Ms Caire added.
Ms Caire also acknowledged the government for not increasing taxes on the property sector in response to today's MYFER release.
