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

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.