A big forecasting error by the NSW government is the secret reason behind Treasurer Daniel Mookhey’s claim that the state has lost $12 billion in revenue from the goods and services tax and that its AAA credit rating is at risk.
The federal government, other states and credit rating agencies are dumbfounded by the GST shortfall claim and believe NSW errantly overestimated its future GST revenues.
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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. Connect with John on Twitter. Email John at jkehoe@afr.com
