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| NSW Deeper in the Red, And the Budget Forecasts Are a Fantasy |
| Tuesday, 08 December 2009 | ||||||
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The NSW Labor Government’s Mid Year Budget Review shows this year’s Budget deficit has increased to over $1 billion, and Eric Roozendaal’s plans to come back to surplus are based on expense savings that will never arrive, Shadow Treasurer Mike Baird said today. “The fact is NSW is deeper in the red, and whatever spin Kristina Keneally tries to put on it, this State has again gone backwards,” Mr Baird said. “While general economic conditions have improved the State’s revenue position, the millstone around the State’s budget remains a lack of expense control,” he said. Mr Baird said over the next 4 years, total government revenue is forecast to increase by $4.9 billion, including a $1.4 billion increase in tax revenue, a $1.1 billion increase in GST revenue, and a $1.3 billion increase in fines, fees and other. “Critically, the Government is forecasting a return to black in 2010/11, but this is based on expense savings that have never been delivered in the past. “It is difficult to believe that expenses are forecast to grow by only 2% in 2010/11, when they are predicted to grow by 8.8% this year. This is a Labor Government that operates on fantasy. “Over the four years from 2006/07 to 2009/10, expenses grew by 7.8%, while Eric Roozendaal is predicting that expenses growth will only be 2.7% from 2010/11 – 2012/13. “If we had a competent government in this State, NSW would be charging - rather than limping - out of recession. “While hardworking families have paid more taxes than the budget forecast, this doesn’t mean the funds have been invested into improved services. “Despite the new Premier, nothing has changed. There is just more failure, incompetence, waste, spin and excuses,” Mr Baird said. MEDIA: Lisa Harrington - 0406 726 880 Add to: Write Comment
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