Risk management
The Hunter Growth and Infrastructure Taskforce has just finalised their policy response to the NSW Government’s 20-year strategic plan for the region.
This should be a serious plan for a serious regional economy – one that has significance in the State and National context.
While the taskforce found a metropolitan planning approach to Australia’s 7th largest city was long overdue, they criticised the plan for lacking detail and any strong tools for delivery.
Their recommendations to Government focus on two areas:
- Creating a regional plan to promote smart growth.
- Establishing a regional body to champion strategic planning.
These measures are aimed at removing the Hunter’s greatest supply-side constraint on new housing – uncertainty around the provision of enabling infrastructure such as water, wastewater, power, and broadband.
A continued failure to meet demand will leave the Hunter 30,000 homes short by 2024.
And that would represent the biggest risk to a prosperous future for the Hunter, with strong communities and a thriving economy.