Andrews’ Labor Government has announced it will overhaul its planning system as part of the state budget, with $111 million set aside to streamline the current processes in place.
By making the state’s planning procedures more efficient, the Victorian Government hopes to remove some of the bureaucratic red tape that can often delay projects and instead create a system that will instil confidence amongst potential investors.
Minister for Planning, Richard Wynne, said that the changes will be key to the state’s economic recovery, as the Victorian economy looks to navigate out of its COVID induced recession.
As we begin rebuilding from the pandemic, we need a planning system that is set up to drive growth and create jobs as we recover from coronavirus – that’s what these reforms will do.Minister for Planning – Richard Wynne
The planning system facelift includes $38 million set aside for the improvement of planning processes, $3.86 million allocated to streamlining social housing approvals and also $15.7 million to upgrade online planning systems.
“This year we’ve seen just how much can be achieved online,” said Mr Wynne.
“We want to build on that strength, creating an easy, online and accessible planning and permit system,” he said.
A new assessment model is also set to be created for projects that exceed $50 million which aims to make Victoria a more attractive location for investors to build lucrative projects.
DealCorp Executive Chairman, David Kobritz, believes the planning reforms have been needed for some time and said that the proposed changes ought to take effect sooner rather than later.
Now is the time for planning reforms and not just the time to talk about the need for reform.DealCorp Executive Chairman – David Kobritz,
“The cost of delays in planning approvals plus the cost of satisfying construction financiers preconditions to finance have got completely out of hand and the consumer ultimately pays because of the substantial additional costs,” said Mr Kobritz.