Developing Sydney Airport to better meet current and future needs would support Australia’s economic growth in a number of important ways, according to Business Council of Australia President Tony Shepherd.

Welcoming this morning’s announcement of a concept to transform Australia’s busiest airport, Mr Shepherd said the plan was a fine example of private sector investment in crucial economic infrastructure that would boost confidence and employment.

“Investing in Sydney Airport as the gateway to our economy gives us a real chance to realise the potential of becoming a financial services hub for this thriving region of the world,” he said.

“It will make our wonderful tourism industry more efficient and improve travellers’ experience. A slick airport in Sydney will also make it easier for a more mobile labour force to move around the country as needed.”

Mr Shepherd said infrastructure development was a key plank of the Business Council of Australia’s vision for long-term economic prosperity.

“Investing in infrastructure is a great way to use some of the wealth being generated by the current terms of trade boom so that it benefits future generations.

“That includes new infrastructure to make our cities and towns more efficient and liveable. But it should also be used to make existing infrastructure work better and prepare for our future needs.”

Mr Shepherd said that with Mascot/Port Botany producing a significant proportion of the nation's GDP, the airport concept needed to be coupled with the transport plan being developed by the New South Wales State Government.

Mr Shepherd urged stakeholders from different sectors of the community to take part in the Sydney Airport consultation process and help shape this historic evolution in Australia’s economic infrastructure.