In the first round of meetings today, Treasurer Daniel Mookhey met with property and retail industry stakeholders – the Real Estate Institute of New South Wales, the Property Council of Australia and the Shopping Centre Council of Australia.
Face-to-face meetings with representatives from the insurance sector are also scheduled this week.
Premier Chris Minns announced last month that the government would remove the Emergency Services Levy (ESL) from insurance to help reduce premiums for households and businesses.
The ESL on insurance has led to NSW having one of the highest average insurance costs for business and households in the country.
NSW is also the last state in the country to rely on a levy on insurance to fund emergency services.
A public consultation paper seeking views from industry stakeholders and the broader community on how best to reform emergency services funding will be released early next year.
Treasurer Daniel Mookhey said:
“Today’s meeting was the first productive step in hearing from key stakeholders on ways to best reform the ESL.
“The ESL adds to the cost of insurance at a time when too many NSW households are already uninsured.
“The costs of natural disasters are only expected to rise with climate change. We must seize the opportunity now to find a more sustainable way to fund our fire and emergency services and ease the pressure on insured households and businesses.”
