The Hay Street two way conversion proposal rightly intends to lower speed limits, remove street parking and improve pedestrian spaces however,

Converting Hay Street to a Two way street will negatively impact traffic flow, and public transport leading to more congestion and an overall less pleasant public area for pedestrians and cyclists, a more frustrating drive for road users, and to public transport slowing to below walking speed during rush hour. 

As someone who lives in, commutes through, and frequents the area, on foot, by bike, motorcycle, car and occasionally bus, I am strongly against converting Hay Street to two way, though I will mention I am not against the removal of street parking and expansion of pedestrian areas. 

Please watch these videos for proof of the argument in detail: