Latest news with #PaulScully
Finextra
2 days ago
- Business
- Finextra
UK launches Smart Data Group to bring benefits of open banking to more sectors
The UK is looking to build on the success of open banking through the launch of a government-backed, industry-led Smart Data Group designed to unlock £28 billion in economic value across a variety of sectors. 0 Last week, the Data (Use and Access) Bill passed in parliament, paving the way for the expansion of the open banking model, giving consumers the power to share their data more widely across new use cases in energy, finance, telecoms and retail. By enabling Brits to explicitly consent to secure, standardised sharing of personal data with providers, the aim is to ensure these users can get tailored services, seamless switching, and better deals. Chaired by former Minister for Smart Data, Paul Scully, The Smart Data Group has been tasked with making this a reality, uniting policymakers and industry experts. Open banking veterans Richard Newman and Clare Ambrosino will be in operational charge of the group, with advisory board members including Jonathan Ashworth, Lord Iain McNicol, Lord Martin Callanan, and Sir Robbie Gibb, underscoring strong cross-party support. Business and Trade Minister Justin Madders says: 'Smart Data has the power to transform the way we do business and has potential to supercharge start-ups across the country. 'This new group will play an important role in unlocking that potential, and our modern Industrial Strategy will be a driving force to boost our priority sectors and drive economic growth right across the nation.'
ABC News
29-05-2025
- Business
- ABC News
More housing earmarked for Sydney Fish Market redevelopment site after planning control changes
Sydney could net more than 1,500 new homes from the redevelopment of the city's old fish market after the Minns government finalised changes to planning controls. The site on Blackwattle Bay was already slated for 1,200 apartments as part of a mixed-used precinct, but the ABC can reveal the land has been rezoned to squeeze more housing from the project. NSW Planning Minister Paul Scully said there would be less area for offices and more space for apartments. The announcement comes as the proposal to turn Rosehill Racecourse, near Parramatta, into a "mini city" of 25,000 homes lies dead in the water. On Tuesday, Australian Turf Club members voted against selling the track, in a major blow to the Minns government's push to address the state's housing shortage. Mr Scully said the government was working on "other options" in lieu of its scuppered Rosehill plan. The government will require 7.5 per cent of the homes on Blackwattle Bay to be kept "in perpetuity" for affordable housing. But the location means the rest of the homes are likely to be priced too high for those on ordinary incomes. The minister said the rezoning made no substantial changes to building height limits, which range from six to 36 storeys. He said there would be no loss of open space under the modified plan, which includes a 1-hectare park at the southern pylon of the Anzac Bridge. A promenade 30-metres wide will be built along the bay, linking Glebe Island Bridge and the new Sydney Fish Market. The developers — Lendlease, Mirvac and Stockland — were shortlisted late last year to carry out the urban renewal. The companies are due to submit their proposals in July, with the first new homes expected to be built by 2028. The units will be a short stroll from the proposed metro station at Pyrmont, but the first residents will have to wait several years to ride it. The Metro West to Parramatta is not set to open until 2032. "The homes will come slightly in front of the Metro, but it's in a really well-located part of Sydney with access to transport, and access to jobs," Mr Scully said.
The Age
28-05-2025
- Politics
- The Age
Momentum builds to overhaul major housing handbrake
A bipartisan bid to reform the state's controversial Environmental Protection and Assessment Act is gaining momentum, with NSW Premier Chris Minns hoping to push the changes through within months even as Liberals are wary of a political ambush. The reforms, which could be introduced to parliament as early as the August sitting, would enshrine the transport-oriented development zones and the Housing Delivery Authority, help address the housing crisis, and come after the government's audacious Rosehill Racecourse proposal was shot down by Australian Turf Club members. Planning Minister Paul Scully and Liberal counterpart Scott Farlow have been meeting since the premier signalled in January he was open to bipartisan reform of the 46-year-old, 327-page EP&A act. The act has been criticised by developers, governments and councils for being overly complex, allowing anti-development councils to undermine housing supply while creating a field day for consultants. Senior Liberal sources privy to discussions said changes to the Complying Development Certificates process, allowing for low-impact development and code-based assessments, were under consideration. This would involve removing councils' ability to assess on subjective merit. Loading CDCs provide low-impact projects that meet a specific set of criteria to have simultaneous planning and construction approval. Under code-based assessments, proposals are assessed against a prescriptive set of rules rather than on merit. Other proposals under consideration included legislating the Housing Delivery Authority, the three-person committee to accelerate large-scale developments by bypassing councils, along with installing pro-housing objectives in the act, a move favoured by both sides. Urban Taskforce chief executive Tom Forrest has publicly backed the idea, and independent upper house MP Mark Latham proposed these amendments during earlier reforms of the act in March. While shot down, both Farlow and Labor indicated they would be supportive of the move later on.
Sydney Morning Herald
28-05-2025
- Politics
- Sydney Morning Herald
Momentum builds to overhaul major housing handbrake
A bipartisan bid to reform the state's controversial Environmental Protection and Assessment Act is gaining momentum, with NSW Premier Chris Minns hoping to push the changes through within months even as Liberals are wary of a political ambush. The reforms, which could be introduced to parliament as early as the August sitting, would enshrine the transport-oriented development zones and the Housing Delivery Authority, help address the housing crisis, and come after the government's audacious Rosehill Racecourse proposal was shot down by Australian Turf Club members. Planning Minister Paul Scully and Liberal counterpart Scott Farlow have been meeting since the premier signalled in January he was open to bipartisan reform of the 46-year-old, 327-page EP&A act. The act has been criticised by developers, governments and councils for being overly complex, allowing anti-development councils to undermine housing supply while creating a field day for consultants. Senior Liberal sources privy to discussions said changes to the Complying Development Certificates process, allowing for low-impact development and code-based assessments, were under consideration. This would involve removing councils' ability to assess on subjective merit. Loading CDCs provide low-impact projects that meet a specific set of criteria to have simultaneous planning and construction approval. Under code-based assessments, proposals are assessed against a prescriptive set of rules rather than on merit. Other proposals under consideration included legislating the Housing Delivery Authority, the three-person committee to accelerate large-scale developments by bypassing councils, along with installing pro-housing objectives in the act, a move favoured by both sides. Urban Taskforce chief executive Tom Forrest has publicly backed the idea, and independent upper house MP Mark Latham proposed these amendments during earlier reforms of the act in March. While shot down, both Farlow and Labor indicated they would be supportive of the move later on.
West Australian
21-05-2025
- Business
- West Australian
‘10.6 years': Dire reality for Aussies revealed in State of Housing System report
The Australian dream of homeownership is looking more hopeless than ever. A median-income household now needs to save for 10.6 years just to afford a deposit and start a whole new challenge of servicing a new mortgage, the National Housing Supply and Affordability Council's annual State of the Housing System 2025 report shows. It notes that mortgage repayments continue to increase faster than incomes, and affordability continues to deteriorate though at a slower pace compared with 2023. About 50 per cent of median household income was needed to meet repayments for new mortgages in 2024, according to the report. It does not look good for renters either, as 33 per cent of median wages are needed to meet rental costs in new leases. Rental stress has affected more than 50 per cent of lower-income renter households in 2023. Sixty per cent of these households also experienced stress the year before, showing how persistent the issue is. Only 14 per cent of new homes sold in 2023-2024 were affordable for the median-income household, the lowest on record. NSW residents have drawn the short straw, as new mortgages and home deposits remain the least affordable in Australia, whereas the Northern Territory has the most affordable mortgages and home deposits. Rents in regional Queensland were the least affordable, but rents in Canberra were the most affordable. New housing supply is the lowest in a decade, and the 1.2 million target for new houses to be completed during the Housing Accord period will not be met – even under optimistic economic estimates, the report says. No state or territory will meet their target, and supply is insufficient to meet underlying demand. The report has called for systemic reform, government support measures and industry innovation to address the issues, but the NSW government says it is heading in the right direction. 'The Minns Labor government inherited a system that was working against achieving the Housing Accord targets. It was also never assumed that, given macroeconomic conditions and the costs of construction, it would be a straight line between now and mid-2029,' Minister for Planning and Public Spaces Paul Scully said. 'We are turning around the system. Planning approvals are 15 per cent faster today than they were in March 2023, the number of applications lodged is up 28 per cent on the same time last year, and NSW has the most homes under construction in the country. 'There are thousands more homes and DAs being finalised that are embracing our planning reforms such as the Housing Delivery Authority and the low and mid-rise policy. We're building a pipeline that will actually deliver homes. 'The State of the Housing System report shows us that we have our work cut out for us, but as a government we've got our priorities right.' Weak supply has been attributed to a lack of commercial feasibility – it costs more for developers to build than what they would earn selling it. Elevated costs, labour shortages, high financing are all constraining supply but should be easing, the report says. Property Council chief executive Mike Zorbas said the report showed the need to increase productivity in the construction sector, simplify planning systems and encourage investment. 'The alarm bell continues to sound on national housing supply,' Mr Zorbas said. 'The sad fact is that many Australians feel that homeownership is out of reach. 'We have seen the federal and state governments co-ordinate their efforts on boosting supply, but more must be done. 'Our skills and planning systems are not yet match fit for this century. 'More than 30 per cent of the cost of a new home is government taxes and charges. 'East coast states have daft foreign investment taxes that are barbed wire to overseas institutions that want to send their money to help Australian companies build the assets our cities need. 'The least cost answer for indebted states is to modernise our planning systems and put measures in place to boost the proportion of skilled workers coming into the country. 'We need to bring forward federal environmental approvals and force power and water providers to stop delaying the delivery of new homes, industrial and commercial assets that our communities need as they grow.'
