NSW Labor pledges $2.2bn for housing and infrastructure in first budget in a decade

Figures reveal NSW is expected to be back in the black next financial year and will focus on paying down debt

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The New South Wales government has vowed to invest $2.2bn in housing and infrastructure projects, including new roads and schools, in Labor's first state budget in more than a decade.

The government has forecast a $7.8bn deficit this financial year but expects a string of modest surpluses after that, bankrolled by its big twin revenue streams of property and payroll taxes.