South East Queensland (SEQ) is experiencing a substantial growth in population and is expected to have an extra one million people by 2026. To deal with the growing population, a regional draft plan has been created (Mackenroth 2005). It includes strategies and objectives (table 1) in an effort to achieve a sustainable South East Queensland in 2026. The regional growth will put enormous pressures on the social, economic and environmental aspects of the region. South East Queensland will require an estimated 550,000 new dwellings and 425,000 new jobs, as well as better supporting infrastructure including services such as public transport, portable water to local parks and community facilities. The regional growth will have its negative effects on South East Queensland such as loss of vital open space, dwindling water supply and quality, insufficient supply of electricity, increase in traffic congestion and inadequate public transport. There are several economic tools and strategies that can be utilised to achieve some of the SEQ regional draft plan objectives (table 1), such as charge systems and financial instruments. With the introduction of economic tools and methods a sustainable South East Queensland can be achieved in 2026. (Mackenroth, 2005)
Table 1 - The South East Queensland 's Regional draft plans objectives and possible economic tools.
SEQ Objective/Details/Possible Economic Tools
1. Natural environment, resources and rural production / A healthy and diverse regional landscape where key environmental, natural resource and rural production areas are protected, enhanced, used sustainably and adaptively managed / Charge systems
2.Urban Form / A compact and sustainable urban pattern of well-planned communities, supported by a network of accessible centres having a close relationship with residential areas, employment locations and the transport system, framed by Regional Landscape
References: Mackenroth T. 2005 Draft South East Queensland Regional Plan, South East Queensland, Australia. Panayotou, T. 1994 Economic Instruments for Environmental Management and Sustainable Development. Prepared for the United Nations Environment Programme 's Consultative Expert Group Meeting on the Use and Application of Economic Policy Instruments for Environmental Management and Sustainable Development, Nairobi, February 23-24, 1995 Environmental Economics Series Paper No. 16. Bibliography: Rietbergen-Mc Cracken J.A. and Hussein A. (ed.) 2000 Economic instruments for environmental management: a worldwide compendium of case studies, London.