Mon 29 June - As the Budget session draws to a close many have asked me what I thought about the Budget and whether we are in more trouble than we are being told? In simple terms the good news for the State was that the AAA rating was retained but this looks at risk in the longer term, and the forecasts look nigh impossible given some of the assumptions.

The latter point is important as excluding Kevin Rudd’s stimulus payments, NSW has an underlying deficit position of $8 billion over the estimates period...

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