Daniel Mookhey says ‘absurd’ carve-up of GST allocations means the state will ‘almost certainly’ lose its coveted AAA credit rating
how it would allocate GST money. NSW complained it would lose $1.65bn even as its population swelled and other states, such as Victoria, got extra funds.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup “Last year we found $13bn in savings in our first budget. It helped us hold on to the AAA-credit rating,” he said. The “GST rip-off”, though, had sent the state “back to square one almost certainly will lead to a downgrade”.
With inflation ebbing, NSW, meanwhile, is understood to be preparing for weak or no growth in the near term as the state’s main economic challenge.
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