The economic data published yesterday is a wake-up call for the NSW Planning System. A 7% decline in GDP is not just an economic recession, it’s a human disaster. Australian Gross Domestic Product (GDP) fell 7.0 per cent in the June quarter, the largest quarterly fall on record, according to figures released by the Australian Bureau of Statistics.
People’s jobs are disappearing in front of them. Businesses are struggling. The Government subsidies are being wound back – but that could well make things worse. Government revenue has plummeted. Deficits are at record levels. Yet the NSW planning system seems to be wantonly oblivious to the changed economic environment.