A PLAN FOR A NEW AUSTRALIA
Northern Australia has huge potential. Rich in natural resources, the economic value to the North and to the whole of Australia is immeasurable.
Northern Australia needs economic development.
It is widely accepted that economic freedom promotes economic growth and economic development.
This potential, however, is mired in a mess of high taxes and over regulation.
In order to fulfil a vision of Northern Australian development, the establishment of economic freedom across the North is paramount.
What Australian needs is a policy that promotes investment, skilled migration, and ultimately leads to sustainable economic growth not just for Northern Australia, but Australia as a whole.
A Northern Special Economic Zone
The idea of a Special Economic Zone (SEZ) would no doubt seem foreign to many Australians, as their use here has been almost negligible. Yet throughout the world, many nations currently benefit from the prosperity that the reduced taxes and regulations in SEZs bring.
Special Economic Zones promote investment, create jobs and can transform underdeveloped regions into areas of considerable economic activity. In an Australian context, a Special Economic Zone has the potential to help confront the challenges the nation faces.
The Special Economic Zone we are proposing should be comprised of Northern Western Australia (WA), the Northern Territory, and Northern Queensland (QLD). It is important that the nation offers investors an environment that is internationally and regionally competitive.
Other organisations with the same vision
The IPA is working with Australian’s for Northern Development and Economic Vision (ANDEV) to develop policies for a more competitive Northern Australia.