Building for the future
I am delighted to present the 2017-18 New South Wales Budget, a budget that builds on our proud fiscal and economic track record and invests our State’s success back into the families and communities of New South Wales.
This is a budget for the people of our great State, delivering more than ever before on the things that matter: health, education, roads and transport, support for families, help for those who need it most, and the right conditions for businesses to grow.
With a surplus of $4.5 billion this year, $2.7 billion in 2017-18 and surpluses forecast over the next four years, negative net debt in 2016-17, strong business activity and low unemployment, our economic and fiscal position is the envy of the world.
We are surging ahead with another near-record infrastructure investment of $72.7 billion over four years, building the infrastructure backbone that will serve our State for decades to come, and investing in the local and social infrastructure that allows communities to flourish.
A record $7.7 billion will be spent across four years on health infrastructure, bringing world class health services to families and communities across the State, while an additional $2.2 billion over five years will build the schools where our children will learn and grow.
We are turbocharging our regions with major new investment initiatives, supporting new and improved infrastructure and services that will make regional NSW an even better place to live, work and play.
This is a budget for families and households, with our Housing Affordability Package bringing the great Australian dream of home ownership within the grasp of more people; huge investments in local roads and public transport; and major new sporting and arts facilities to enhance our State’s stellar reputation for entertainment, tourism, culture and sport.
And we are offering a helping hand to those who need it most, providing more care and support for children most at risk of violence and neglect, more housing for those without a home, and record funding for palliative care.
We can only do all of this because we have worked hard to get the fundamentals right, delivering year after year on our firm commitment to responsible financial management.
This budget is about delivery, not just promises, with every community across New South Wales sharing the benefits of our State’s success.
The Hon. Dominic Perrottet MP
Treasurer, and Minister for Industrial Relations
Member for Hawkesbury