Sydney’s nightlife looks set to be revived with the NSW government set to announce a strategy to boost the city’s 24-hour economy.

The plan, to be announced on Monday, will cut red tape on restrictions and is designed to unlock the city’s cultural and economic potential around the clock.

NSW Treasurer Dominic Perrottet told The Daily Telegraph on Monday the strategy will “drive investment, create jobs and attract more businesses to the CBD and surrounding suburbs, laying the groundwork for our state’s economic recovery”.

The move would give Sydney more accessible late-night transport, extended opening hours and fewer restrictions on live music and performances.

The plan includes a pilot program to transform footpaths and roadside parking spots into outdoor dining areas, art installations or mini-parks, more lighting of buildings and recreational zones.