NSW Treasurer Daniel Mookhey will pull the plug on electric vehicle subsidies in Tuesday’s budget – but funding will remain for Metro West.
NSW Treasurer Daniel Mookhey will scrap a $3000 subsidy for drivers who buy a new electric vehicle but will redirect some of the savings to rolling out more charging stations in commuter car parks and apartment blocks.
Instead, the government will pump $260 million into EV infrastructure for drivers in regional NSW, renters, people who live in apartments and motorists who do not have access to home charging. Treasurer Daniel Mookhey said “the benefits of government spending shouldn’t be concentrated in the hands of the few”.“We are not cutting Metro West in this budget,” Mookhey said. “[But] the government has made it clear that given the scale and size of that project, any prudent government will of course, do its due diligence on it.”
Mookhey admitted the state’s long-standing triple A credit rating, held with two international ratings agencies, was in jeopardy. The Minns government’s first budget comes amid signs of a slowdown in the NSW economy. The unemployment rate has risen sharply since reaching a historic low of 2.9 per cent in June. New figures show the state’s jobless rate climbed to 3.6 per cent last month, the highest in 15 months.
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