State budgets drown in debt

On Tuesday, both the NSW and Queensland state governments delivered their budgets.

The NSW government now expects to post a budget deficit of $2.3 billion in the 2026-27 financial year, compared with a previous forecast of $1.1 billion. However, the budget papers show that the Treasury anticipates a surplus of $1.1 billion in 2027-28, rising to $1.76 billion in 2028-29.

The NSW budget includes a range of cost-of-living measures, including reducing the weekly toll road to $50, a 12-month freeze on public transport fare increases, and a temporary discount on registration fees for private cars and motorbikes.