FISCAL POLICY – NEW SOUTH WALES

State surpluses on the slide as spending lifts

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Original article by Anthony Klan, Brad Norington
The Australian – Page: 5 : 19-Dec-18

The New South Wales government’s mid-year budget review shows that it now expects to post a surplus of $1.1bn for 2018-19, compared with a forecast surplus of $1.4bn in the June 2018 Budget. The government has also scaled back the projected surpluses for the following three financial years. A $4.04bn increase in government spending over the next four years is the major contributor to the lower surplus forecasts. The downturn in Sydney’s property market is expected to result in stamp duty revenue falling $2.5 billion over four years.

CORPORATES
NEW SOUTH WALES. THE TREASURY

Treasurer’s $1bn in sweeteners for voters

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Original article by Andrew Clennell, Sam Buckingham-Jones
The Australian – Page: 1 & 6 : 20-Jun-18

The New South Wales Government’s June 2018 Budget has forecast a surplus of $A3.9bn in 2017-18, and surpluses of at least $A1.4bn in each of the next four financial years. However, spending on transport infrastructure projects will see the state’s net debt blow out to $A28.6bn in 2021-22. The government has also announced a raft of spending measures aimed at families, while it has unveiled plans for a sovereign wealth fund that will own a 49 per cent stake in WestConnex after the balance of the toll road is privatised.

CORPORATES
NEW SOUTH WALES. THE TREASURY, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, NEW SOUTH WALES. DEPT OF TOURISM, SPORT AND RECREATION, AUSTRALIAN LABOR PARTY, AUSTRALIA. FUTURE FUND MANAGEMENT AGENCY