NSW budget faces ‘severe challenges’ as economy slows and interest rate repayments soar
by Peter Hannam and Tamsin Rose from World news | The Guardian on (#6CA3M)
Nevertheless, Labor has confirmed it is deferring a decision on an increase to the sales tax on the Star casino group
New South Wales' state budget faces severe challenges" as the economy slows and rising interest rates mean that debt repayments consume almost one-sixth of government revenues within three years, treasurer Daniel Mookhey said in a special economic statement.
Mookhey's statement, made to parliament on Tuesday, sought to highlight the budget challenges inherited by the Minns Labor government, including an extra $33bn in spending commitments made by the previous Coalition government in its final 14 months in office. These include already disclosed $7.1bn in financial pressures".
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