Minister for Finance Deputy Leader of the Government in the Senate Senator The Hon Mathias Cormann:

The Government has issued its Statement of Expectations to WSA Co, setting out guiding principles for the construction of the Western Sydney Airport.

Western Sydney Airport will be a catalyst for jobs and economic growth in the region, supporting around 28,000 direct and indirect jobs by the early 2030s.

Under the Statement of Expectations, WSA Co will operate with private sector principles and at arm's length from the Government. The company will also work with the NSW and local governments and the wider community to realise these economic and social benefits.

This is further supported by the requirement under the Western Sydney Airport Plan for WSA Co to set targets for local workforce, workforce diversity and apprentices and trainees.

WSA Co must also capture opportunities to innovate in the airport's design, reflecting the Government's vision for a truly 21st century airport, which reflects the confidence and aspirations of Western Sydney.

Other key elements of the Statement of Expectations include that WSA Co will establish its head office in Liverpool and the majority of staff, including senior staff, will be based in Western Sydney and that WSA Co will ensure transparent and efficient use of public resources, and establish effective engagement with the Western Sydney community in delivering its airport.

WSA Co is wholly-owned by the Government and will receive equity funding of up to $5.3 billion and must adhere to the Government's expectations in delivering this significant public infrastructure asset to a high quality by 2026.

Construction of Western Sydney Airport is expected to start in 2018 and the airport will open in 2026.