Business
25 September, 2024
Special economic zone has support, says conservative thinktank
The Institute of Public Affairs was in Mount Isa to launch a national survey of 1001 Australians.
The three-pronged policy delivery of more local industry, retention of skilled workers and increased public services could be solved through the introduction of a special economic zone (SEZ) across northern Australia, says Institute of Public Affairs deputy director Daniel Wild.
However, the latest survey from the IPA suggests more work needs to be done to explain to the public the merits and functionality of an SEZ across the region.
Mr Wild was in Mount Isa to launch a national survey of 1001 Australians which found that despite a recognised need to increase the population and develop northern Australia, especially as measures to improve our national security capabilities, more than 40 per cent of respondents were unsure of the benefits from creating a SEZ.
Mr Wild said a SEZ would allow specific changes to government policies such as increasing the zonal tax offset to attract workers to live in the north-west and the reduction in business red tape to make the region more viable for industry.
“It is very important to have more money in the back pocket of workers because that means they are going to be spending more and that will help the local economy. But if you don’t have some big industrial players setting up shop to offer these high paying full time jobs it is going to be very difficult to have a sustainable future,” he said.
“The next steps in the coalition’s plans should be to provide a broader special economic zone to entice both workers and industry to come to areas such as Mount Isa.”