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Sydney’s Global City Status ‘At Risk’ From Levy Overhaul – SMH

Shortfall under state government’s proposed changes to developer levies will harm recovery from pandemic, Sydney’s city council says

Australia rents
More Australians are leaving capital cities for the bush than before the coronavirus pandemic, contributing to a jump in regional rents. Photo: Reuters.


The City of Sydney council estimates it will be $650 million worse off by 2040 under the New South Wales state government’s proposed changes to developer levies, a shortfall it says would endanger Sydney’s status as a global city and harm the state’s recovery from the pandemic, The Sydney Morning Herald reported.

It comes as new Planning Minister Anthony Roberts hits a reset on the government’s approach, extending the timeframe for councils to provide feedback and promising to only proceed with changes that boost housing and infrastructure supply.


Read the full report: The Sydney Morning Herald.





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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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