New South Wales Treasurer, Daniel Mookie at the budget presentation outlined the Labor government's plans to return to surplus over the next two years, despite more than $18 billion in new spending and an $8 billion budget deficit projected for the 2023-2024 financial year.
The booming real estate market will see state government revenue from stamp duties increase as homeowners who had delayed any purchase during the COVID pandemic and period of elevated inflation, return to the market again.
As Mr Muki said, this budget benefits the many, ending privatisation that brings profits to the few.
At the same time, he noted that the budget delivers to the people all that was promised, bringing the public debt back under control.
