Business NSW's western region manager Vicki Seccmone welcomed the announcement of the state budget earlier this week, particularly a commitment to infrastructure spending to improve the economic prosperity west of the Blue Mountains.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The treasurer announced a deficit of $7.9 billion for the current year, less than half of what was forecast in November, which transforms the expected surplus come 2024-25 to $466 million.
Ms Seccombe highlights the government's planned spend of more than $130 million on major thoroughfares to and from the Central West as particularly pleasing along with funding for a planned fast rail service.
The NSW Government is working with the National Faster Rail Agency to develop a business case for fast rail on the Sydney to Bathurst, Orange and Parkes corridor according to the budget papers.
- READ MORE: NSW crisis cabinet meets to discuss virus
"Infrastructure spending is a key item of any state budget," Ms Seccombe said.
"Locally, we are seeing continued commitment to key transport infrastructure, including the Great Western Highway and Bells Line of Road corridors, the Newell Highway and planning for a proposed Fast Rail route to the Central West.
"All of which are critical to improving safety and supporting the economic prosperity of Western NSW."
She also pointed to individual and business benefits as key elements of the budget, along with the commitment to improve mobile coverage and communications in the region, something Member for Orange Phil Donato has long-campaigned for.
- READ MORE: PM confident Sydney can avoid lockdown
"The allocation for improving mobile coverage is always welcomed and we hope to see some of this investment in Western NSW to improve coverage for the community," she said.
"From a business perspective, it is pleasing to see previously committed to extensions to the Payroll Tax threshold and rate of taxation have been confirmed. A tax on job creation and retention is the last thing business owners need during these difficult times.
"Small businesses who don't currently pay payroll tax are still able to benefit by accessing grants and rebates of up to $1,500."
She explained Business NSW will continue to push a timetable in relation to borders re-opening as well as stressing the necessity of people being vaccinated against COVID-19, which has become problematic in Sydney again in recent days.
"Skills and labour shortages and the loss of skilled migrants continue to be of major concern to our region's businesses," she explained.
"This is why Business NSW will continue its calls for a roadmap and timetable for the borders to open and stress the need for people to get vaccinated as quickly as possible.
"A commitment from the State Government of more than $260 million for vaccine distribution supports this important community measure.
"This Budget shows that strong financial management continues to position NSW as the powerhouse of the Australian economy as we emerge from this pandemic."
We depend on subscription revenue to support our journalism. If you are able, please subscribe here. If you are already a subscriber, thank you for your support.