NSW deficit $3.6b as GST 'rip-off' bulldozes surpluses

NSW has blamed a forecast $3.6 billion budget deficit firmly on “absurd” GST changes that extinguish hopes of a surplus any time soon. New spending to ease the housing crisis and boost health and education outcomes will be key features of Treasurer Daniel Mookhey’s second budget on Tuesday. But he will also use his budget speech to rue recent changes to GST distributions, costing $11.9 billion over four years and plunging the state’s finances into deficits for the foreseeable future.

was -$1.9 billion, now -$3.6 billion 25/26: was $0.3 billion, now -$2.5 billion 26/27: was $1.4 billion, now -$2.4 billion 27/28: was $2.2 billion, now -$1.5 billion Total: $11.9 billion loss over four years. Source: NSW Treasury Sign up to the 7NEWS app here - the news you want, when you need it. Download now, for free.

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