COVID-19 Economic Recovery Strategy

Economic Recovery Strategy header image

Together we have come through the difficult times, and together we are ready to bounce back and build a brighter future for NSW.

That is our focus as a government and, with this Strategy, the people and businesses of our state will get the boost they need to get back to work, back to business and back into life.

With ongoing support for the people, communities and industries hit hardest, this plan leaves no one behind.

And as we look to the future with a renewed appreciation for the opportunities on offer across  our state, we will use the lessons learned through this time of adversity to build a better, stronger NSW.

The road ahead is filled with promise and this plan is our first step.

Dominic Perrottet 

NSW Premier

Economic top tile small

$2.8 BILLION

to recover and bounce back, on top of the more than $10 billion in support measures throughout the winter 2021 lockdown

Economic top tile small 2

Job Creation

260,000 jobs by December quarter 2022

 

On this page

1. Securing a strong rebound 

When public health restrictions lifted in 2020, the response from the people and businesses of NSW exceeded all expectations. This time the challenge will be steeper, but our goal is the same: to get NSW on the fast track to recovery.

Complementing the existing stimulus and support measures announced in the 2021-22 NSW Budget, this Strategy is targeted to turbo-charge a strong consumer and business-led recovery, creating jobs and restoring confidence by helping businesses reopen safely on a ‘COVID-normal’ footing.  

With targeted support for vital sectors and localities, and stimulus for individuals and families, this Strategy ensures NSW is perfectly placed to bounce back faster and stronger than ever, getting back  to work and back into life for a summer to remember.

Economic rebound smaller 1

$500 MILLION

to restore consumer and business confidence 

Economic rebound smaller 2

$250 MILLION

to support jobs and skills

Economic rebound smaller 3

$200 MILLION

to boost recovery in the regions

2. Targeted and timely support

This strategy ensures that those most impacted by the health and economic crisis of COVID-19 have the ongoing support they need to rebuild and share in a prosperous future for NSW.

The pandemic has touched the lives of everyone in NSW, but the burden has not fallen evenly. The range of health, social and economic challenges has been extraordinary, and on each of those fronts, particular communities, demographics and industries have been hit especially hard.

This Strategy ensures that those most impacted by the health and economic crisis of COVID-19 have  the ongoing support they need to rebuild for a bright future in NSW.

Economic targetted smaller 1

$495 MILLION

education support

Economic targetted smaller 2

$484 MILLION

domestic and family violence support

Economic targetted smaller 3

$255.3 MILLION

household and social support

Economic targetted smaller 4

$130 MILLION

mental health support

3. Coming back stronger 

The scale and duration of the social and economic disruption caused by the COVID-19 pandemic is unlike anything NSW has experienced since the Second World War.

New challenges have emerged, and existing ones  have been brought more sharply into focus, from the urgent need to address housing affordability, to the health and medical resources available to regional and remote communities, and issues of state and national self-sufficiency in times of crisis.

This Strategy offers a preliminary view of the new and existing challenges that now call for more urgent attention, and new opportunities and priorities to pursue.

• Supporting the further development of existing industries, such as the theatre and film sector.

• Building the capabilities to support new opportunities such as an RNA research and manufacturing industry.

• Reducing red tape to make it easier to run a business in NSW while ensuring customers are protected.

• Support for our First Nations communities, including investing in the Aboriginal Community Housing Investment Fund and greater employment pathway opportunities for Aboriginal and Torres Strait Islander students.

• Improving our State’s liveability with investment in new open spaces and outdoor recreation.

• Boosting workforce participation by identifying barriers to women's economic participation and reform opportunities.

Economic stronger smaller

$145.4 MILLION

for better communities

 

Last updated:
Top of page