NSW budget to deliver 30,000 new homes, promising historic investment in social housing

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Social housing has emerged as the biggest winner of the 2024/2025 NSW budget as the NSW Government prepares to make the largest single investment in the state’s history.

NSW Treasurer, Daniel Mookhey highlighted that housing measures were aimed at helping people break into the Sydney housing market as the government shifted its “focus” to building new homes.

NSW Treasurer, Daniel Mookhey.
NSW Treasurer, Daniel Mookhey. Photo: Sydney Morning Herald.

Mr Moohkey said his “must haves and not nice-to-haves” budget “carefully absorbs” a $11.9 billion hit from a loss in GST revenue, rather than creating “misery” by making cuts to services.

“I don’t think we should be slamming the door on home ownership to the next generation.”

BUDGET 2024/2025:

HEALTH

* $3.4 billion to upgrade hospitals and health facilities, including nearly $1 billion for capital works in regional and rural areas

* $274 million to boost staffing at new and upgraded hospitals

* Nearly $112 million for mental health services, including funds for community teams to work in targeted areas

* $40 million to improve health services for children, including extra pediatric staff.

* $15.1 million for an upgrade to paramedics’ systems to help them find the most suitable emergency departments

* $6.3 million to examine the feasibility of a NSW “health locum agency” to bring down the cost of hiring temporary staff

Dr Ken McCroary from Campbelltown in Sydney is one of many GPs who say their patients are skipping appointments due to cost. ABC News Holly Tregenza
Dr Ken McCroary from Campbelltown in Sydney is one of many GPs who say their patients are skipping appointments due to cost. Photo: ABC News/Holly Tregenza.

Addressing bulk-billing ‘freefall’

The budget’s second major feature is a $189 million injection into bulk-billing, which the government said will incentivise GPs to bulk-bill patients.

Mr Moohkey said he was acting on a recent survey which found 48 per cent of adults were cutting back on healthcare appointments due to the cost. 

EDUCATION

* $3.6 billion for school infrastructure in fast-growing areas, including new primary and high schools at Box Hill in Sydney’s outer northwest

* $1.4 billion for new schools and upgrades in regional NSW across four years

* $1.08 billion for minor works and other upgrades and refurbishments in public schools

* $190 million for urgent repairs on TAFE campuses and a further $16 million to continue fee-free training for apprentices and trainees

* $83.1 million to retain expert TAFE teachers

The 2024-25 NSW State Budget forecasts a four-year deficit
The 2024-25 NSW State Budget forecasts a four-year deficit. Photo: ABC News.

HOUSING

* $450 million to build apartments for essential workers such as nurses, paramedics, teacher and health care staff

* Nearly $254 million for extra planners and technology to speed up assessment of development applications

* $200 million to buy 120 dwellings and accommodate 500 health workers in regional and rural areas

* $200 million for infrastructure in council areas that meet or beat their shares of state housing targets

* $8.4 million to the Rental Commissioner to target dodgy agents and breaches of rental laws

* Extra income of an expected $1.68 billion over four years due to changes to land tax thresholds for investment properties and businesses

Housing dedicated for domestic violence victim-survivors, essential workers

Mr Moohkey said his new social housing measures would deliver 8,400 new social housing homes, 6,200 of which will be new, which the rest are old social homes that will be knocked down and rebuilt.

TRANSPORT

* $2 billion for the second stage of Parramatta light rail, with construction to start before the next election

* More than $1 billion for roads to the new Western Sydney Airport

* $447 million to extend the life of the Tangara train fleet for another 12 years

* Nearly $140 million for bus upgrades, including on-board equipment and extra electric vehicles for western Sydney routes

REGIONS

* $946 million for biosecurity protection, including funding to control feral pigs, fire ants and Varroa mite

* Nearly $202 million for infrastructure in growing regional communities, including Wagga Wagga, Tweed Shire and Bathurst

LAW AND JUSTICE

* $230 million in emergency domestic violence funding, including money for better victim support and extra court resources

* $22.9 million for upgrades to Waverley and Rose Bay police stations in Sydney

* $14.2 million for NSW Police’s forensic evidence and technical services command

ARTS

* $45.4 million to support artists and live venues through funding to Sound NSW and the Office of the 24-Hour Economy Commissioner

EMERGENCY SERVICES

* $189.5 million to guarantee 286 existing firefighter jobs

* $15.4 million to buy land for a fire station at Badgerys Creek

Source: ABC NEWS and Canberra Times

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