A comprehensive "landmark review" will be undertaken in a bid to boost women's participation in the NSW workforce, including improving access to affordable and quality early childhood education.
Treasurer Matt Kean announced the review in Sydney, saying unleashing the full potential of women's participation in the NSW workforce was vital to bolster future economic growth.
Premier Dominic Perrottet said one of the things holding women back from fully participating in the workforce was the outdated childcare system which he described as "a dog's breakfast".
The review to be chaired by the president of the advocacy group Chief Executive Women, Sam Mostyn -will examine ways to increase the economic opportunity of women.
"This is about long term strategic policy thinking which will look at a range of issues to assist women entering the workforce and re-entering and staying in the workforce," the premier said on Monday.
The review would include "thinking outside the box" and consider areas such as child care, superannuation and pay parity, with many systems - including 9-3pm school hours - outdated in the modern world.
"That was set up at a very, very different time in life," he said.
Responsibility for childcare systems which often overlapped between federal and state needed to change in order to deliver better outcomes for women and families.
"We are happy to take it over," he said.
"From long daycare to before and after school care, early childhood education to childcare it's an absolute dog's breakfast," he said.
Mr Kean said women's ability to participate and thrive in the NSW economy was not the same as it was for men.
"That is not acceptable in 21st century NSW."
"The women of my generation ... they're frustrated that too often they have to choose between having a family and having a career, in a way that men don't have to think about," he said.
The NSW economy would be eight per cent larger, and households $22,000 per year richer, if women's participation reached parity with men by 2060, he said.
"The review will be far ranging, seeking out reform options to help women enter, re-enter and stay in the workforce," Mr Kean said.
"It will look for ways to reduce the gender pay gap, empower more female entrepreneurs to run their own businesses and increase workplace flexibility.
Women's participation in the economy still lagged that of men, with a 61 per cent female participation rate compared to 70 per cent rate for men.
Women still struggled to re-enter the workforce after having children, retired with up to 35 per cent lower super balances, and made up only one third of top ASX boardrooms.
"This review is not only the right thing to do because we believe in equal opportunity or because we believe in great education for every child born in this state, but it is the right thing to do because unleashing the full potential of more than half our population is going to help build a more prosperous future for our state," the treasurer said.
"The right structural support can not only improve women's economic security but help fuel an economic boom for our state."
Ms Mostyn promised the review would be "bold and brave".
It was particularly needed amid COVID-19, which had exacerbated disadvantages experienced by women related to work.
The review's expert panel would look at measures that could be included in the next state budget to address "longer term structural barriers" preventing the full inclusion of women in NSW.
