NSW treasurer Matt Kean hands down a pre-election 2022 state budget that invests in housing, health and early education
New South Wales families will be handed $150 vouchers for every child enrolled in school just months out from the state election as part of treasurer Matt Kean’s big-spending, Labor-like budget.
While describing NSW as having “strong momentum”, aided by the lowest jobless rate in decades, the economy is still forecast to slow sharply from a buoyant 5.5% growth in the coming fiscal year to 1.75% the following year. Now was the time to act, he explained, after women demanded change on the back of the advocacy of former Liberal staffer Brittany Higgins and 2021 Australian of the Year Grace Tame.
“We want to lower the barriers to owning a home for first home buyers seeking a place of their own,” Perrottet said.The Premier wanted to see the stamp duty scrapped entirely in favour of an annual tax for all buyers but insisted it was not possible without the assistance of the federal Labor government to make up for the tax shortfall in the immediate, but federal treasurer Jim Chalmers has so far declined to assist.
The projection of a cash surplus by 2024-25, at $601m, is built on several positive factors, such as higher GST payments swollen by inflation, and a boost of almost $4bn in mining royalties over the four years.
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