The Sydney Business Chamber says recommendations made in today’s NSW Productivity Commission’s report will facilitate growth and stimulate Sydney’s economy by streamlining and simplifying the developer’s contributions system.
“Many of the recommendations in Mr Achterstraat’s Productivity Commission report will bring much-needed certainty to the construction industry, simplifying the development and infrastructure contribution process for new developments that will lead to a streamlining of the system and stimulate economic growth and employment in this crucial industry,” said Katherine O’Regan, Executive Director of the Sydney Business Chamber.
“The recommendation around councils being able to raise rates in proportion to increases in population is long overdue. As outlined in our Planning Reform paper, those communities experiencing the fastest population growth, were effectively being punished as Council resources were not able to be increased to support this growth. If adopted, more funding will go to those Council’s with the greatest need and local infrastructure will be available to support growing communities.”
“The reforms also provide more certainty for the construction industry, something it needs in order to grow Sydney. Developers will have a clearer understanding as to what costs they will incur, enabling them to better plan and price future developments.”
“The recommendation to introduce a form of value capture to fund transport infrastructure like the Sydney Metro North West, will significantly improve the viability of building new railway and metro lines. All taxpayers will get some return for their investment in paying for this major transport infrastructure”