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The White Paper outlines a new productivity reform agenda for NSW aimed at restarting productivity growth.
The release of the White Paper comes at a pivotal time for NSW, as we continue to manage the health and economic impacts of the COVID-19 pandemic and recover from the impacts of bushfires and floods.
A total of 60 opportunities have been identified to guide the choices we make today to set up the foundations for long-term productivity and economic growth. The opportunities are centred around the four foundations: talent, innovation, housing and infrastructure. Together, these reforms will make NSW a more attractive place to live, work, start a business, and raise a family.
Economic modelling indicates that these reforms could boost Gross State Product by 2% per year by 2041; an increase of $19.4 billion in today's dollars, and equivalent to each NSW citizen over the age of 15 receiving an additional $2,000 per year by 2041.