Northern Australia Needs to Become a Special Economic Zone: Report

Lower taxes and less red tape would boost investment and development, the Institute of Public Affairs says.

This picture taken on Aug. 28, 2023 shows a sign displayed at the entrance to the Darwin Port in the Northern Territory city of Darwin. David Gray/AFP via Getty Images

The Institute of Public Affairs (IPA) recommends that Northern Australia be designated as a Special Economic Zone (SEZ), noting that “almost three-times as many Australians are favourable ... than are opposed, and believe more should be done to develop the region.”

The figure comes from a two-day survey of 1,001 Australians conducted by independent research firm Dynata in early September.

“Northern Australia offers a unique opportunity to set the nation up for a period of economic prosperity for the rest of the century,” said IPA Deputy Executive Director Daniel Wild. “However, this will only occur if the right policy settings are put in place, with cuts to red tape and taxes that will drive long-term investment.”

When asked if they would be in favour or opposed to introducing a Special Economic Zone with lower taxes to stimulate economic growth in the region, 42 percent agreed, 15 percent opposed, and 43 percent were unsure.