The state’s treasurer is promising voters “immediate assistance ... with long-term reform” in the Minns government’s first budget.
as he tries to balance competing demands of easing the cost of living and paying down debt and funding infrastructure.
“People will see this government on budget day helping families with the cost of living, fixing the state’s essential services and beginning the job of repairing the state’s finances,” he said.our housing systems ... cost of living and doing our bit to bring inflation under control.” There will be more cuts, too, to free up contingency funding as the economic outlook worsens and the state’s unemployment tracks above 3.6 per cent. Mr Mookhey is also trying to free up more cash to pay down net debt, which is on track to reach $118 billion and 14 per cent of the state’s gross state product by 2025-26, at which point interest payments will total $7 billion a year.
Ratings analysts have cautioned Mr Mookhey that new capital expenditure announcements which go beyond the state’s existing $115 billion infrastructure pipeline could cost the state’s remaining two AAA ratings.
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