Protect NSW from natural disasters

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The Issue

Australia is a land of droughts and flooding rains and in recent years New South Wales has had more than its fair share of each.
The NSW Business Chamber’s Drought Survey found 84% of regional businesses have been negatively affected. The drought has sapped business confidence and many regional businesses have delayed capital spending decisions until conditions stabilise.

As investment dries up and businesses stop employing new staff, those regional communities already suffering are dealt a double blow.

What’s more, the requirements to access government support are so complicated and cumbersome that it’s too hard for already distressed businesses and farmers to complete the application process.

Our regions, which are disproportionately affected by natural disasters, are some of the most productive areas of our state. For NSW to stay Number 1, it’s vital we soften the blow for those in their hour of need, to ensure they remain the backbone of regional communities.

 

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Our Plan

Whilst natural disasters can’t be avoided, there is more we can do to protect NSW from their ravages. The NSW Business Chamber is calling on our political leaders to adopt the following measures:

  • Abolish stamp duty on insurance premiums for commercial and business premises to increase insurance coverage.
  • Payroll Tax – allow flexible payment arrangements for businesses impacted by natural disasters.
  • Establish a Natural Disaster Recovery (NDR) Fund to assist businesses and communities prevent and mitigate the ravages of natural disasters. The fund would:
    • Establish a concierge service to assist business access assistance to financial support and counselling
    • Ensure more timely assessments of disaster affected locations and allocation of financial support

To Keep NSW Number 1, it’s critical we do more to build resilience for the businesses and communities affected by natural disasters.

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