The NSW Productivity Commission has issued a discussion paper to launch a statewide conversation on the need to improve productivity.
The Commissioner, Peter Achterstraat said the paper, entitled Kickstarting the Productivity Conversation, identified key areas that may benefit from reform and would help ensure NSW continue to enjoy prosperity for future generations.
“The discussion paper aims to kick-start a conversation about how the NSW Government can best support continued growth in living standards in the years ahead,” Mr Achterstraat said.
“To secure long-term prosperity, productivity growth – working smarter not harder – is one of the most reliable ways to pick up the slack and deliver long-term improvements in living standards.”
He said NSW had long been the “economic engine room” for the nation and that strong economic management had delivered high living standards for the State’s citizens.
“In recent times, economic headwinds have meant that traditional drivers of growth have slowed, and productivity growth has stalled.”
He said the State also faced future challenges such as technological disruption, environmental change as well as an ageing population.
He said the four core aims of the Productivity Commission were: to make it easier to do business; lower the cost of living; make housing more affordable; and to make NSW the easiest state to move to.
“With these aims in mind, the Kickstarting the Productivity Conversation paper identifies six priority areas with potential to boost productivity in NSW,” Mr Achterstraat said.
He said those priority areas were: build human capital for a modern, evolving economy; sustainable and productive use of water and energy; how to get more from infrastructure; modernise the tax system; plan for housing and jobs; as well as regulation to support competition and innovation.
The Productivity Commission’s 143-page discussion paper can be accessed at this PS News link.
