The state's forecasted budget deficit has more than tripled, as the NSW government seeks to embark on major economic reforms while grappling with COVID-19 and disaster spending.
It's part of $2.2 billion of additional spending to tackle the cost of living pressures, including $520 million in toll relief over the next two years.
A key feature of the budget is spending to improve the participation rate of women in the workforce, with $775 million over the next four years for the creation of a fund to increase the supply of affordable childcare. In a bid to improve housing affordability, $2.8 billion is being spent on a shared equity trial and a schemeOver the next four years, $112.7 billion will be spent on infrastructure, including works to enable Parramatta Light Rail stage two by building the Wentworth Point Bridge and upgrades to the Wyong rail line to enable faster rail between Sydney, Newcastle, and the Central Coast.
About $470 million of funding from the state's $5 billion WestInvest program will be spent to modernise nine schools in Western Sydney.For regional NSW, the Regional Growth Fund is being expanded by $1.3 billion. Programs designed in partnership with First Nations communities will receive money from a $716 million fund.Watch
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