NSW voters are tightening their belts, and they expect the state government to do the same.
NSW Treasurer Daniel Mookhey has warned of further cuts in Tuesday’s budget as voters back the Labor government to reduce spending in order to pay off debt and return the state’s finances to the black.
Ahead of Labor’s first state budget since 2010, 49 per cent of voters said they would support a reduction in spending if it improved the budget position, as Mookhey confirmed the government could fund its signature public wages policy through a range of multibillion-dollar savings. Only 17 per cent believed the NSW Labor government should maintain spending levels at the cost of retaining debt and deficits, while 18 per cent said taxes should be increased to achieve a surplus and be debt-free. A further 15 per cent were undecided on budget priorities.Mookhey said the government had “already spelled out billions of savings measures”, with the largest cuts coming from the government’s overhaul of the scandal-ridden Transport Asset Holding Entity which will free up $4.
“We have further budget savings to release between now and Tuesday and on Tuesday, we look forward to introducing further savings measures that demonstrate how we’ve been able to get the balance right between fixing the budget and fixing our state’s essential services,” Mookhey said. Mookhey said a new $3.6 billion fund to pay for future public sector pay rises “had been carefully budgeted”.The government also confirmed on Sunday that its toll relief policy, which will result in more than 700,000 motorists benefiting from a $60 cap on tolls, will cost $561 million over two years.
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