The Business Council of Australia welcomes Prime Minister Tony Abbott and NSW Premier Barry O’Farrell today signing a Memorandum of Understanding to streamline the environmental approvals process.

“Today’s announcement by the Prime Minister and Premier is another important step in delivering the federal government’s policy for a one-stop-shop for environmental approvals that fosters investment and growth, without damaging the environment,” BCA Chief Executive Jennifer Westacott said.

“Premier O’Farrell has outlined an ambitious infrastructure agenda for the state and today’s agreement will help ensure this agenda’s timely delivery.

“We must maintain Australia’s high environmental standards, but we need to reduce the costs and delays of delivering our major investment projects which are a critical source of economic growth for all Australians.”

Ms Westacott said that the MoU was an important first step towards creating a regulatory system in New South Wales that fosters investment and growth.

“Today’s MOU helps overcome one of the barriers to developing coal seam gas projects that would enable New South Wales to develop its own gas supply.

“The MOU is critical step on the path to provide a secure supply of gas to the state, which imports 95 per cent of its gas from interstate.

“It is pleasing to see the Commonwealth and New South Wales Governments continuing the momentum begun with the Commonwealth’s agreement with Queensland last month, in what is a model for a more effective and efficient system of environmental protection for other states to follow.

“The BCA looks forward to working with the Commonwealth and other state governments through the implementation of the one-stop shop policy to keep critical investment flowing while protecting the environment,” she said.

For further information contact:
Scott Thompson, Director, Media and Public Affairs
Business Council of Australia
Telephone (03) 8664 2603 | Mobile 0403 241 128