New report shows integrating economies across the eastern seaboard could strengthen Australia’s post-pandemic recovery and add hundreds of billions to national income by mid-century – but we need new policy levers to make it happen.
Creating a more co-ordinated economic corridor through VIC, NSW and QLD, where labour and capital could move at low cost, would deliver extensive economic and social benefits to the Australian economy.
The east coast corridor is home to about 64 per cent of Australia’s population and accounts for almost 70 per cent of gross domestic product. Even a one per cent increase in output through improved planning and coordination between Australia's biggest cities would deliver a $268 billion lift to gross domestic product by 2050, said report author SGS National Leader for Economic & Social Analysis Terry Rawnsley.