Hopes of return to surplus dashed as Labor blames ‘unfair’ GST carve-up
government has revealed the state will be $14bn worse off over the next four years than it had previously forecast as it is now expecting the budget to be in deficit until at least 2027.
The government had been anticipating a $1.6bn surplus in 2025-2026 but the budget it hands down on Tuesday will forecast a $2.5bn deficit. It had forecast a $1.5bn surplus in 2026-2027 but is now predicting a $2.4bn deficit. The treasurer, Daniel Mookhey, has been setting the scene for another austere budget and told the people of NSW not to expect anything splashy.system as “unfair” and say that for every dollar that Victoria will give to the smaller states next near, NSW will give “upwards of four” and that it “deserves its fair share”.
The grants commission explained Queensland and NSW were expected to increase their capacity to earn revenue, particularly because of coal royalties and soaring land values, and should therefore get less from the GST pool.Our Australian afternoon update breaks down the key stories of the day, telling you what’s happening and why it mattersFrom social housing to $1.
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