All families and businesses know that budgets and budgeting are imperative to track the flow of finances and they’re essential for planning.
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That’s why the NSW government puts so much energy into its budget process; to understand what is available and what can be allocated for community priorities. It is a long, involved and very detailed process to ensure accuracy and accountability.
It is very rewarding to deliver a Budget that provides more help for those who need it, continues to improve the services the people of NSW depend on, and builds the infrastructure for today and for future generations.
The 2017 Budget will continue record levels of investment in hospitals, schools, roads and public transport, with $72.7 billion committed over four years. This is because of the government’s robust 2017-18 Budget position.
New South Wales is expected to record a surplus of $4.5 billion in 2016-17, with a surplus of $2.7 billion forecast for 2017-18 and average surpluses of $2 billion forecast for the four years to 2020-21.
We’re seeing an investment of $7.7 billion over four years for world-class hospitals and health infrastructure, and $4.2 billion over four years for new and improved schools, including the Wauchope Public School.
The government will maintain record levels of transport and road investment totaling $41.4 billion over four years. There is $262m allocated to Oxley electorate road network projects, which includes $3.3m for more Oxley Highway works – specifically, pavement repair on the Oxley Highway west of Wauchope and at King Creek.
The government’s housing affordability strategy means first home owners in NSW will pay no stamp duty on homes up to $650k with discounts for houses up to $800k, and a $10k grant for first home buyers for houses up to $600k.
After taking NSW from being the worst economic performer to now being number one, we are in a position to make a real difference across the state.