NSW Government to hand down 2023/24 Budget in September

·

NSW Treasurer Daniel Mookhey today announced the NSW Government will hand down the 2023-24
Budget in September.

The Budget will be informed by a Comprehensive Expenditure Review, which is needed to give an accurate picture of the state of the NSW Budget. This review will be led by Minister for Finance
Courtney Houssos.

Mr Mookhey also announced today a Strategic Infrastructure Review of significant capital works, to be led by Ken Kanofski and supported by Infrastructure NSW.

Treasury has advised the Government in recent weeks of “difficult to avoid pressures” on the
Budget, which must be addressed.

“We have been left with around $7 billion of difficult to avoid pressures over the next four years,
including in an unfunded nursing workforce program, Out of Home Care and in the office of cyber
security,” Mr Mookhey said.

The Treasurer will update the people of NSW via an Economic Statement to the Parliament in June.

The September Budget timing is consistent with the practice of previous incoming governments, for
example the first Baird Budget, delivered in September 2011 following a March election.

“I have been receiving briefings from Treasury Officials and I have met with stakeholders over the
past few weeks,” Mr Mookhey said.

“I’m going to be honest with the people of NSW – we are inheriting significant economic challenges and difficult to avoid pressures on the Budget, including unfunded government programs.

“We also know that the former government has handed over to us the largest debt in our State’s
history.

“We have high inflation, higher interest rates, historic debt – and this is about painting a full and
honest picture of what is really going on.”

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