NSW risks losing its remaining AAA credit ratings unless it takes drastic action to rein in its debt and rising expenses, departmental officials have warned Daniel Mookhey as he softens the ground for a tough state budget in September.
Less than a month since Labor formed government, the new NSW Treasurer Mr Mookhey has revealed how more than $7 billion in unanticipated challenges and “difficult to avoid pressures” have lengthened the odds of producing a surplus in 2025-2026, as the last budget papers projected.
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Samantha Hutchinson is the AFR's National Reporter. Most recently, she was CBD columnist for The Sydney Morning Herald and The Age. Before that, she covered Victorian and NSW politics and business for The Australian, the AFR and BRW Magazine. Connect with Samantha on Twitter. Email Samantha at samantha.hutchinson@afr.com.au
