Drop in GST revenue will cost NSW ‘more than Covid’, treasurer says
by Peter Hannam from World news | The Guardian on (#6M7Y6)
Daniel Mookhey says absurd' carve-up of GST allocations means the state will almost certainly' lose its coveted AAA credit rating
New South Wales will almost certainly" lose its remaining top-notch debt rating after an absurd" carve-up of GST revenue stripped more from state revenue than Covid-19, the state's treasurer, Daniel Mookhey, said.
The assessment comes about a month after the Commonwealth Grants Commission revealed how it would allocate GST money. NSW complained it would lose $1.65bn even as its population swelled and other states, such as Victoria, got extra funds.
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