NSW budget’s $5.2b blow after Auditor-General’s scathing attack
The state Auditor-General has accused the Treasury of presenting inaccurate forecasts, forcing the government to lift its contribution to fund future rail assets by $5.2 billion.
The NSW budget has suffered a $5.2 billion blow after the Auditor-General demanded major changes to the accounting treatment and funding of transport assets before she would sign off on the state accounts.
The government was forced to lift its contribution for access fees to the Transport Asset Holding Agency to win the Auditor-General’s approval of last year’s budget accounts, undermining the benefits of taking transport infrastructure spending off-budget.
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Tom Burton was government editor at The Australian Financial Review.
Edmund Tadros leads our coverage of the professional services sector. He is based in our Sydney newsroom. Connect with Edmund on Twitter. Email Edmund at edmundtadros@afr.com.au
