We Mean Business: Election Result Update

What a Labor Government means for your business

The people of NSW have elected a Labor government for the first time in 12 years, but what does this mean for your business?

Business NSW has enjoyed a strong, open and honest relationship with senior members of the Labor caucus while in opposition, and members can be assured these ties will only strengthen as we continue our conversation with the new NSW Government.

The business community is encouraged by government commitments including payroll tax administration reform (alongside the Federal Government), a pledge to introduce no new taxes on business over the next four years, increasing affordable housing and allowing SMEs to take a greater share of government procurement opportunities.

The Labor Government has promised an increase in public sector salaries so we will be placing a strong focus on ensuring this doesn’t come at any cost to business, and that the pledge for no new taxes on business is maintained.

We Mean Business: by the numbers

Commitments to Business NSW priorities from incoming government

Business NSW’s strong advocacy on the spiralling cost of doing business – including that 30 per cent of businesses face closure if business conditions don’t change – helped win major concessions from our new government.

The $315 energy rebate for 320,000 eligible small businesses and commitment to no new taxes on business in the next term of government were responses to this advocacy.

We also had advocacy wins on the delivery of three Manufacturing Centres of Excellence in Illawarra, Western Sydney and the Hunter, a commitment to conduct an audit of manufacturing in NSW, $93.7 million to hire 1000 apprentices and trainees across the NSW Government by 2026, and a promise of 30 per cent affordable housing on government-owned land.

Our policy platform was informed by deep consultation with members, including a powerful election survey of more than 1200 business owners like you. 

View our scorecard below for the full list of election commitments.

Business NSW has enjoyed positive conversations with the new government on issues including reductions in payroll tax, workers’ compensation reform which keeps a lid on premiums, increases to fee-free apprenticeships and traineeships, expansion of our domestic manufacturing capability, and the establishment of a $1.3 billion government-backed venture capital fund. We will continue these discussions.

Now, more than ever, businesses and their employees need certainty, and Business NSW stands ready to support the government in delivering policy outcomes that will see our businesses continue to flourish and our economy grow.