Opinion

Mookhey may need a wages miracle to land this budget

NSW is sucking extra tax out of the asset-rich, property-owning class that has enjoyed a massive asset price boom to spend more on government services, housing and public sector employees.

John KehoeEconomics editor

Jun 18, 2024 – 4.47pm

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Daniel Mookhey has delivered a redistributionist NSW budget that most modern Labor treasurers would be proud of.

He’s sucking extra tax out of the asset-rich, property-owning class that has enjoyed a massive asset price boom, to spend more on government services, housing and public sector employees.

John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury.