The NSW Productivity Commission (Commission) has
released its 'Kickstarting the productivity
conversation' discussion paper for consultation, closing
27 November 2019.
The feedback received will inform whether the correct
productivity priorities have been identified, and the policy
options the NSW Government needs to consider.
Productivity challenges – dampened growth
Productivity growth has slowed globally since the early
2000's. The State's productivity growth averaged 2.8 per
cent per year from 1994-95 to 1998-99, compared with just 0.8 per
cent between 2003-04 and 2011-12.
The recent average productivity growth has been 0.9 per cent per
year. If the NSW economy continues to grow at this rate rather than
1.5 per cent per year forecast in the 2016 NSW Intergenerational
Report, the State's economy will be smaller by up to $24,000
per person by 2055-56.
