“Given NSW represents about 30 per cent of the national economy, these spending decisions make a huge difference to everyone,” economist Stephen Anthony said.
It took almost a month of requests but this week NSW Liberals and NSW Labor quietly revealed just how much they are prepared to spend to win the state.
. “And there is a contribution to inflation ... the states are running at a combined deficit of about $40 billion or $50 billion and that adds about half a percentage point to inflation.” NSW Labor Leader, Chris Minns, along with his wife, Anna, visit an early learning centre in Condell Park.most voters said that a Minns-led Labor government would best respond to higher living costs, while the Perrottet government is best placed to manage the economy responsibly.
He says the state’s net debt position – at around $180 billion over four years – is “very strong”, and only represents about 6 per cent of the state’s revenue.Promises already baked into the budget include a $520 million toll relief plan to hand back to drivers up to $750 a year in tolls, as well as $500 million program offering families $250 in energy bill relief if they shop around for a better deal using a government website.
Foo remains confident in the AA+ classification for the state for the time being, even as he flags that the state’s accounts hold a number of “niggling concerns” for the agency, including the cost profile of the state’s Transport Asset Holding Entity. “Really, in this environment, anything that’s not offset by savings elsewhere in the budget arguably is unwarranted. It’s just not prudent,” Anthony said.Anthony insists that not all spending is equal and that the Coalition’s future fund program which is intended to spur on savings is a reasonable election sweetener in the current environment, given it’s unlikely to spur on inflation in the short or medium term.
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