NEW PLAN FOR GREATER COMMERCIAL COMPETITION AND VIBRANT CENTRES
Source: New South Wales. Minister for Planning. Media Release.
"Planning Minister, Kristina Keneally, today put forward a plan which is designed to promote investment and jobs in the retail and commercial development industry.
Once finalised, after public and industry feedback and a formal submissions period, the policy will ensure the supply of commercial land exceeds the market’s demand, encouraging competition by allowing space for new businesses to open.
It will also help stop uncontrolled sprawl of retail centres, a mistake which could cost Sydney alone an average of $1 billion per year over the next 20 years.
“The retail and commercial sectors are the backbone of the modern NSW economy and a key contributor to the creation of the kinds of communities in which people want to live,” Ms Keneally said."