Brace for austerity as “rock solid” NSW Budget surplus crumbles to dust

By Leith van Onselen

NSW Treasurer Dominic Perrottet says the state’s Budget is expected to impacted by a $2.3 billion fall in revenue over the four years to 2021-22, primarily resulting from reduced GST receipts forecast in the April Federal Budget. Premier Gladys Berejik­lian had promised $4.3 billion worth of surpluses over four years during the recent state election campaign, but Labor’s treasury spokesman Ryan Park says Perrottet’s “rock-solid” surplus has now been cut in half. From The Australian:

Premier Gladys Berejik­lian’s $4.3 billion worth of surpluses over four years promised during the NSW election have been cut in half by diminished GST revenues for the state projected in this month’s federal budget…