It's a rich state's world

21 June 2016

Being NSW Treasurer could be a delight in the moment, at least based on figures presented in the state's 2016-17 NSW Budget: 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 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.

And while Treasurer Gladys Berejiklian has raised the spectre of a declining share in GST earnings - a result of the state's economic strength - the Government is spending big on infrastructure: a record $21.8 billion in 2016-17 and $73.3 billion over the forward estimates.

Yet, there is little imagination for new investments in innovation. Noteworthy initiatives include:

Job Creation



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