Elliott Hands Down Parliamentary Report On Special Economic Zones

Baulkham Hills MP David Elliott handed down his second Parliamentary Report last week, refusing to recommend the implementation of Special Economic Zones to the Government.

 Mr Elliott, the Chairman of the NSW Committee on Economic Development, was tasked by Cabinet last November to report on the possibility of establishing special economic zones providing tax incentives to promote growth.

 Mr Elliott said that after calling for submissions from business leaders and regional stakeholders he concluded that zones would simply move existing borders.

 “Whilst I acknowledge that these zones have worked overseas it is clear that NSW should be focusing more on harmonizing regulation.” Mr Elliott said.

 “To that end I will recommend to the Premier and Treasurer the importance of harmonizing regulations across the Commonwealth and clustering specific industries”

 Mr Elliott admitted his views on Special Economic Zones had changed over the course of the inquiry.

 “Although I commenced the inquiry with an open mind I also took the view that a tax haven may have been a worthwhile option. However in reality a state like NSW would have simply seen borders move and those on the wrong side suffer accordingly”.

 This is the second Inquiry Mr Elliott has presided over since his election in March last year. In December he had a public debate with former Premier Kristina Keneally and former Treasurer Eric Roozendaal over the future of the Parliamentary Budget Office.