Following the endorsement of the Queensland Government last month, the Federal Government is on track to sign-on all states and territories within 12 months and fast-track the eradication of red and green tape for environmental approvals.
A one-stop shop will eliminate duplication, deliver more timely approvals and enable Australian businesses to expedite their work. It will mean only one approval is needed, not two. The NSW and Federal Governments today demonstrated a collective commitment to helping strengthen the NSW economy, reduce costs, boost productivity and create jobs.
The Productivity Commission has found that green tape could delay major projects – such as major oil or gas projects – for up to a year costing business and the economy hundreds of millions of dollars.
The same strict environmental standards will continue to apply but the one-stop shop for environmental approvals will ensure swifter decisions and more certainty, whilst increasing jobs and investment in NSW.
Within 12 months a bilateral agreement will be reached between the Federal and NSW Governments. The work to achieve this will be undertaken by Environment Ministers.