ARDR STORY

It's a rich state's world

June 2016 - Surely, there has never been a more exciting time being NSW Treasurer: there is plenty of money to spend, the books are in the black, and the State's triple-A credit rating is secure, at least for the foreseeable future.
The key figures of the 2016-17 NSW Budget:

The State's gross state product (GSP) will grow above-trend over the next two years: 3% are forecast for 2016-17, and 2.75% for 2017-18.

And the budget will be in surplus: $3.7 billion (0.7% of GSP) is forecast for 2016-17, with surpluses averaging $2 billion expected for the following four years.

As a cautionary note, Treasurer Gladys Berejiklian raised the spectre that the State's relative economic success may lead to a declining share in GST earnings. Nevertheless, the Government can afford spending big on infrastructure: a record $21.8 billion in 2016-17, and $73.3 billion over the forward estimates.

Yet, there is surprisingly little imagination for new investments in innovation. The few noteworthy initiatives include:

Job Creation

Energy

ICT

More information: www.budget.nsw.gov.au
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