Posts Tagged “economy”

gosford-from-above

It’s nearly 15 years since former Treasurer Peter Costello released the first intergenerational report alerting us to the economic challenges of an ageing population.

It focused on the big picture, especially the long-term impact of demographic change on the nation’s economic growth and government budgets.

There’s less attention on how the ageing of the population will drive complex economic changes at the local level, including in our big cities.

Analysis of jobs figures by regional economics expert, Terry Rawnsley, suggests the distribution of jobs in Sydney is beginning to shift as the Baby Boomer generation gradually moves into retirement.

It showed the total number of workers in the city’s Eastern Suburbs and North Shore fell in the year to November. Meanwhile, a large number of workers were added in suburbs a long way from the city’s main jobs hubs, especially the Central Coast and south-western Sydney.

It’s understandable that many retirees are staying put in well-located suburbs – they’re highly amenable neighbourhoods near beaches, cultural centres and world-class health care.

But it poses a knotty challenge for a city adding more than 80,000 people a year.

As the share of retirees grows in neighbourhoods close-by the city’s most dynamic job hubs there’s less opportunity for younger workers to move there.

More young workers locked into long commutes will add pressure to the city’s creaking transport networks and increase the already significant economic and personal costs of congestion.

Rawnsley warns of deeper economic consequences if a significant share of the city’s young people are forced to live a long way from job hubs.

Source: http://www.smh.com.au/nsw/balancing-the-demands-of-the-economy-with-an-ageing-population-20161229-gtjibt.html

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Central Coast Council has welcomed the release of the State Government’s Regional Plan for the Central Coast.

The Plan is designed as a ‘blueprint’ for growing the regional economy, accelerating housing supply and protecting and enhancing the natural environment over the next twenty years.

Population growth figures for the Central Coast were revised last month and are now projected to increase to 415,000 by 2036, bigger than the population of Canberra today.

Council’s Administrator, Mr Ian Reynolds, said he hopes the plan provides the right toolset to meet the needs of what is now a much faster growing community.

“We submitted our strong views on the Draft Plan and like others on the Coast are looking forward to seeing how our feedback has been adopted in the final Plan.” Mr Reynolds said.

“Our community values our natural environment, amenities, relaxed lifestyle and sense of community and we want to sustain and enhance that.

“We need to accommodate a lot more people here over the next twenty years and the only way we can do that is by creating more housing options, more local jobs and more infrastructure so our growing community can continue to live and thrive here.

“We have done a lot of work already to identify the key areas and projects we need to drive investment and jobs growth in our region.

“Council looks forward to working constructively with the State Government to deliver the best possible outcomes for our community.”

Under the Plan the Central Coast Delivery, Co-ordination and Monitoring Committee has been established to be accountable for achieving the Plan’s vision and goals, with representatives from Council and State Government agencies.

“As the only region in the State that has one Council, we welcome our seat at the table to help ensure we move the Central Coast forward,” Mr Reynolds added.

“Delivering a sustainable future for the Central Coast will require ongoing adequate funding of projects by the State and Federal Governments as well as Council.”

Source: https://www.centralcoast.nsw.gov.au/new-regional-plan-central-coast/