Everyday the NSW Liberal-National Government is working hard to build a stronger and more prosperous economy. Since 2011, we have transformed NSW and made the necessary decision to provide strong fiscal management, responsible government and created the economic framework needed to deliver growth. A strong economy means more investment in vital social and economic infrastructure, better services, job creation and less pressure for families.
The NSW Liberals & Nationals is committed to ensuring that it delivers on its record infrastructure pipeline to create opportunities for people to get ahead and ensure future generations enjoy a better standard of living. This includes leading the reform agenda for providing the groundwork on economic and productivity report. To read about the latest information, visit the NSW Budget website here.
2020 has been a challenging year for NSW and the nation. In the midst of the pandemic, the economic impacts from the spread of Coronavirus will be significant. This is why the NSW Liberals & Nationals Government have provided the COVID-19 Recovery Plan that will ensure that NSW remains resilient and builds a future-proof economy. This includes committing a guaranteed $100 billion infrastructure pipeline over four years to drive employment growth and help create 88,000 direct jobs. For more information about the COVID-19 Recovery Plan including a copy of the Plan, click here.
Small businesses are the engine room of our economy and the Liberals & Nationals Government is determined to support small business grow and create local jobs. The NSW Small Business Strategy 2017-2019 builds on the strong track record of investment in small business by the Liberals & Nationals Government. As part of the Boosting Business Innovation Program we have invested $18 million to support small businesses access research organisations to build strong local business communities and stimulate economic growth in metropolitan and regional NSW. We are investing in education and skill training services so small businesses across NSW have the skills they need to grow their business and workforce. We are making it easier to start a business by reducing red tape and have increased the payroll tax-free threshold over the next four years from its current level of $750,000 to $1 million by 2021-22.
The NSW Liberals & Nationals Government is committed to embracing new ideas and harnessing innovation to deliver the next age of economic prosperity in NSW. We have already established the Sydney Startup Hub, the first in its kind in Australia to support the startup community in NSW. There is also a range of grants to support startups and provide the economic environment for NSW startups to thrive and prosper. For more information, click here.
The Liberals & Nationals Government is committed to improving housing affordability across NSW and make it easier for first home buyers to enter the property market. Since 2011, we have boosted the supply of housing and supported this with record investment in infrastructure. In mid 2017, we introduced the housing affordability package which aims to give home buyers a fair go by: