NSW’s worsening finances are likely to force the next government to shelve or delay a number of pre-election promises, according to economists, after new accounts revealed the state’s deficit had grown to $12 billion and an uncertain outlook for projects which have only been partially funded.
Just 16 days out from the NSW election, the Perrottet government’s pre-election budget update revealed the state’s deficit has grown by $670 million in a month, while sagging coal prices have shaved $560 million off forecast royalty revenues.