On 31 May 2021, the NSW Productivity Commissioner released the Productivity Commission White Paper 2021,Rebooting the economy. The paper outlines a new productivity reform agenda for the State aimed at rebooting our productivity growth.
The release of the White Paper comes at a pivotal time for New South Wales, as we continue to manage the health and economic impacts of the COVID-19 pandemic and recover from the impact 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 New South Wales 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 two per cent per annum 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.
Preparing for a prosperous future:
The White Paper presents final recommendations to the NSW Government and the Productivity Commission will not be calling for submissions from the public. As part of its future work program, the NSW Productivity Commission will continue to explore new reform opportunities with stakeholders. Ongoing reform will ensure we continue to reap productivity growth’s big dividend—lasting improvements to the lives of the people of New South Wales. Further information on upcoming projects by the NSW Productivity Commission will be updated on our website.
The productivity reform series
Over the last several years, the NSW Productivity Commission has been engaged in a process to develop a productivity reform agenda to boost real wages without raising the tax burden, and develop a more resilient, sustainable, and prosperous economy.
In August 2020, the NSW Productivity Commissioner released theContinuing the Productivity ConversationGreen Paper which sought feedback from the community, governments, businesses, and industry associations on its 56 draft recommendations. You can find more information about the Green Paper and read the public submissions below.
The Full List of Recommendations
