Blueprint outlines reforms for strong economic future
The Property Council of Australia welcomed the NSW 2040 Economic Blueprint released today by Treasurer Perrottet and supports his aspiration of providing a clear pathway for strong, productive economic growth across our State aimed at keeping NSW number one.
The Blueprint outlines the need for short term reforms to the planning system, regulation and taxation to support longer term reforms in areas such as education and industry growth and development.
The NSW economy is predicted to grow from $630 billion to be worth around $1 trillion by 2030 and $2 trillion by 2040.
“The Blueprint balances critical short-term reform with longer term priorities that will boost our State’s competitiveness,” Property Council NSW Executive Director Jane Fitzgerald said today.
“It complements and frames the important work already underway through the NSW Productivity Commission and David Thodey’s report into State/Federal financial relations.
“It includes plans to leverage growth in the Asia Pacific, plays to our State’s strengths and underlines the need to support emerging industries that will provide future employment growth, particularly in growing areas in Western Sydney.
Ms Fitzgerald said the Blueprint underlined the need for short term microeconomic reforms to the planning system.
“We agree with the statements included in the Blueprint which describe the NSW planning system as ‘complex’ and ‘inflexible’ and an issue in need of attention,” Ms Fitzgerald said.
“Now is the time to draw together the streams of work to create a better planning system which can deliver the Sydney of tomorrow; we have a great opportunity to enact reforms now that will set the State up for the next 20 – 30 years.”
“We congratulate Treasurer Perrottet and Chief Economist Stephen Walters on the release of the Blueprint and look forward to contributing to further work to put NSW in the best possible economic position in the future.
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