The Sydney Business Chamber says the NSW Budget provides targeted financial support to help revitalise the city’s economy and get its people and businesses moving again, following the Covid crisis.
“This big spending budget puts Sydney in a strong position to lead the nation’s economic recovery, with funding for big transport infrastructure projects and other job creation and investment drivers,“ said Katherine O’Regan, Executive Director of the Sydney Business Chamber.
“The $500 million ‘Out and About’ voucher program to be trialled in the CBD is great news for struggling businesses in the city, also helping drive the 24-hour economy by encouraging people to come into the city for a meal, a movie or catch a live performance.”
“Transport is critical for our city as it emerges from Covid and the $14.6 billion in city-changing transport projects will grow employment and boost investment in the construction industry. Projects like the Metro West rail, Western Harbour Tunnel and Beaches link, plus the Chatswood to Sydenham rail will improve connectivity and reduce congestion across Sydney.”
“Development of precincts including Tech Central are vital to Sydney’s ongoing growth and need to be adequately funded to ensure our city creates and captures the jobs of the future.”
“It is critical that this is supported by further investment in public spaces and the development of key precincts including the Pyrmont Peninsular, Central to Everleigh and The Rocks.”
“It’s imperative that we get the city moving rapidly and the $1.6 billion for the Digital Restart Fund including $458 million for the next phase of e-planning, will speed up processes and approvals, delivering much needed development projects and jobs.”
“As the gateway to the nation, Sydney needs tourists to return and the $200 million to drive visitation to the State will assist in restoring the city’s tourism and accommodation sectors. Likewise funding for the arts and cultural sector will strengthen the city’s offering and the $104.5 million Arts Fund could be used to unlock iconic attractions such as the Minerva Theatre in Kings Cross.”