LIBERALS’ DEBT & DEFICIT SURGES ON EVE OF ELECTION
The pre-election budget outlook has revealed the NSW interest bill on Dominic Perrottet and Matt Kean’s debt has surged by an additional $1 billion per year.
Interest on NSW Government debt projected for 2025-26 has been revised from $6 billion to $7 billion – which means in the 29 days since the half yearly review, the projected interest payments for 2025-26 has climbed to $7.017 billion per year.
NSW Labor is concerned with escalating debt, and with the NSW Liberals’ $50 billion budget black hole from unfunded infrastructure projects, the only way to pay for it all, will be more privatisation.
Under the NSW Liberals, debt will have surged by 832 per cent – from $22.5 billion in 2011 to $187.5 billion in 2025-26.
This is an election about choices.
It’s a choice about more of the same under Dominic Perrottet and the Liberals and Nationals – running down our essential services and the people who work in them, running up more debt and more privatisation of our essential assets to pay for it.
Or a fresh start under Labor – prioritising the people who look after us – paramedics, nurses, teachers, police officers and firefighters – rebuilding our health system and our education system.
We’ll do it all without privatising Sydney Water or any other essential assets – because under Labor there will be no more privatisation.
Quotes attributable to Daniel Mookhey, NSW Shadow Treasurer:
“Debt and deficit has surged under Matt Kean and the NSW Liberals.
“Under Dominic Perrottet and Matt Kean, taxes, tolls, fees, fines and charges are all up.
“And if you thought it was tough before the Liberals’ $50 billion budget blackhole, we’re all in for a massive shock.
“With the Liberals’ $50 billion budget blackhole, NSW taxpayers will have to expect more debt, more privatisation or both – either way, we all pay.”
THURSDAY, 9 MARCH