NSW Treasurer Daniel Mookhey has promised reforms to reduce approval times for major projects ahead of a budget that will help tackle the problem of “low growth” also identified by federal Treasurer Jim Chalmers.

Mookhey said the June 24 budget will make further investments in housing and public transport but nevertheless return to a “cash surplus”. That means day-to-day operations of government pay for themselves without adding to debt, although capital investment may still leave Tuesday’s 2025-26 budget in the red.