Integrating economies across the eastern seaboard could boost national growth and improve liveability shows report.
The east coast corridor is home to about 64 per cent of Australia’s population and accounts for almost 70 per cent of gross domestic product. Even a one per cent increase in output through improved planning and coordination between Australia's biggest cities would deliver a $268 billion lift to gross domestic product by 2050.
Reimagining Australia's South-East prepared by SGS Economics and Planning for the Committee for Melbourne recommends better planning of land use, more integrated and efficient transportation networks and better-aligned laws and regulations along the Melbourne-Sydney-Brisbane corridor. It also calls for more coordination of infrastructure development across the three cities.
A more coordinated eastern seaboard would strengthen transport connections -- channelling more investments through smaller regional cities -- improve housing affordability, increase population dispersal to relieve city congestion, improve equity and enhance liveability in urban areas.
The report estimates:
- a significant economic and social benefit could be achieved if an Eastern Seaboard Megaregion were established from Geelong to the Sunshine Coast
- a cooperative approach across the south-east could add an estimated $268 billion to the economy over 30 years even if only a conservative 1 per cent improvement was achieved over that period.
