NSW budget to hit record surplus of $2.1 billion

THE New South Wales Government may be preparing to announce a $2.1 billion surplus in Tuesday's state budget, but that won't stop Treasurer Gladys Berejiklian from making a few new cuts.

The surplus is expected to be $1.8 billion higher than what was flagged in the mid-year review in December.

Early reports suggest the budget will include $1.4 billion for health infrastructure and hospital upgrades, almost half a billion dollars to be spent on a new primary school for Parramatta and upgrades for two others.

Corrective services are expected to be handed $1.2 billion, in what ABC News reports as a record amount of funding.

The details remain somewhat scarce, but Ms Berejiklian has also hinted at cuts and savings worth $1.1 billion for the coming four years.

The likely surplus isn't enough to stop shadow treasurer Michael Daley attacking the government on its economic record.

He said the surplus is thanks only to higher taxes and the rivers of stamp duty costs flowing into state coffers thanks to the Sydney housing market.
 


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