2022-2023 NSW Budget

2022-23 NSW BUDGET

Member for Albury, Justin Clancy today welcomed the NSW Budget, saying “This Budget shows how this government can use its financial skill and strength to help protect families and our state economy and steer us through a period of increasing cost of living.

“The Budget offers huge levels of support for people and services that really matter – boosting nurse numbers, more affordable childcare, regional travel support through IPTAAS and more.

The NSW Government is setting the stage for the State’s prosperity, delivering a transformational budget that will secure a brighter future for New South Wales by offering steadfast support for families and businesses.

Highlights for the Albury Electorate

• A new primary school in Thurgoona.
• $45.0 million Albury Hospital redevelopment.
• $3.0 million Albury Hospital Emergency Department Crisis Assessment Unit.
• $7.564 million for Social Housing works.
• $15 million for Key Health Worker Accommodation across Murrumbidgee Local Health District.

Highlights of the 2022-23 NSW Budget’s blueprint for reform to create opportunity and help our people prosper include:

• $33 billion investment in health and recruiting more than 10,000 full-time equivalent staff to hospitals, NSW Ambulance and health services across the State
• $16.5 billion over 10 years to break the barriers to opportunity for women and help give our children the best start in life including by investing in affordable and accessible childcare and creating a universal year of prekindergarten in the year before school
• More than $7.2 billion in cost-of-living measures, including the Premier’s Back to School program and new Energy Bill Buster Program
• $2.8 billion to help more families find a place to call home, including $728.6 million for tax reform to help people own their first home
• More than 45,000 people in rural and regional NSW are set to benefit from an expansion of the Isolated Patients Travel and Accommodation Assistance Scheme (IPTAAS), with the NSW Government investing an additional $149.5 million.
• Creating jobs, developing investment opportunities, delivering more support for young people and improving local services across regional New South Wales will be a key focus of a $1.6 billion Regional Growth Fund.

This Budget also provides comprehensive measures to boost family budgets, and support for communities impacted by floods.

It is a Budget that takes the lessons of COVID-19, fire and floods, and builds on a decade of delivery and responsible economic management to blaze a bright path to future prosperity.

NSW Premier Dominic Perrottet said: “The people of New South Wales have stood tall through enormous challenges over the past few years, and this budget backs in their efforts, with more steadfast support, stronger services, and strategic reform to set our State up for a brighter future.

“For more than a decade we have delivered on our vision, reinforcing the State’s economic foundations, rebuilding the infrastructure, and establishing services strong enough to withstand unprecedented pressures.

“With this budget, the NSW Government sets out a transformational roadmap for the decade ahead, delivering not just for our people today, but for generations to come.”

The Budget forecasts above trend economic growth of 4¼ per cent for 2022-23 and a return to historically low unemployment of 3½ per cent in the June quarter next year.

NSW Treasurer Matt Kean said that with an unemployment rate of 4 per cent, and record high workforce participation, NSW could look to the future with confidence.

“NSW has the most competitive economy in the nation and the 2022-23 NSW Budget is a 10-year Blueprint for prosperity,” Mr Kean said.

“Over the past decade, we have cut taxes by $10.5 billion and made them more competitive, recycled infrastructure assets to build new ones, digitised government services and kept a lid on expenses.”

Link to NSW State Budget 2022-2023 speech