Treasurer Daniel Mookhey will deliver Labor’s first budget since 2010, which will focus on boosting housing supply, reforms to assist renters, and support for first home buyers.
The NSW Labor government will put its stamp on the state’s finances in Tuesday’s budget, ordering $13 billion in savings to be redirected to its key priorities, including housing affordability, essential services and public sector wages.
Premier Chris Minns did not detail how the budget would deal with boosting supply but said the government was “taking steps in this budget to get more homes built”.“Getting the housing pipeline moving again will be a long-term commitment of my government,” Minns said.“We are proud of this budget measure, helping first home buyers pay no stamp duty or a concessional rate. Our fairer scheme helps the vast bulk of first home buyers.
Like the previous Coalition government, Labor is predicting a return to modest surplus in 2024-25, by “ensuring revenue grows faster than expenses”.
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