NSW Budget booms on property, until…

ScreenHunter_4529 Oct. 16 07.50

By Leith van Onselen

The New South Wales Government yesterday released the final result for the 2013-14 State Budget, which revealed a surplus of $1.247 billion driven by a huge lift in stamp duty receipts on the back of the booming housing market. The result is a huge turnaround from the $329 million deficit originally forecast for 2013-14.

The General Government Sector Budget Result was a surplus of $1.2 billion, and the Net Operating Balance of the Total State Sector was a surplus of $2.8 billion.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.