NSW budget: Government to focus on jobs, sports infrastructure in Tuesday’s state budget
The Berejiklian government will be trying to power the state’s jobs economy in the 2020 state budget to be handed down by Treasurer Dominic Perottet on Tuesday.
NSW
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Up to 30,000 businesses will get a tax cut and the government will plough $100 million into upgrading community sports fields around the state in a stimulus budget designed to drive job growth.
Tuesday’s state budget will lift the payroll tax threshold from $1 million to $1.2 million, delivering a lifeline to businesses with 30,000 to pay less tax and 3500 to be payroll tax free as a result of the change.
The budget - which will post a multibillion dollar deficit at the expense of a suite of projects designed to get the state back to work - will predict that 270,000 people will be back in employment by 2024.
NSW Treasury estimates the state’s unemployment rate will drop from a peak of 7.5 per cent in the December quarter of this year to 5.25 per cent in June 2024.
As part of its targeted stimulus measures, it can be revealed the NSW government will announce a new $100 million sports facility fund targeted to supporting grassroots clubs across the state.
The fund will be geared towards improving sports infrastructure, boosting jobs and encouraging a healthier lifestyle through better facilities for amateur and junior sport.
The Daily Telegraph revealed last week the Budget also includes planning funding for a suburban stadium at Kogarah.
Treasurer Dominic Perrottet said the Greater Cities and Regional Sports Facility Fund was a stimulus measure that would target screwdriver-ready projects to help increase jobs.
“Cheering your kids on from the sidelines is a highlight for any parent, and the more we can do to provide great facilities the better,” Mr Perrottet said.
“These are also the type of shovel and screwdriver-ready projects which will help local economies and provide a boost for jobs at a very important time for the state.”
Premier Gladys Berejiklian said saving jobs was the centrepiece of the Budget.
“While we all wait for the COVID-19 vaccine to arrive, the NSW government is determined to treat the economic symptoms of the pandemic by saving and creating as many jobs as possible,” Ms Berejiklian said.
“Our targeted stimulus measures are aimed at returning the economy to a positive footing.”
Acting Minister for Sport Geoff Lee said the community sport initiative would help rejuvenate sporting hubs in communities hit hard by the pandemic.
“Lots of clubs really struggled this year with the shutdown and this funding will allow them to apply to upgrade their facilities,” Mr Lee said.
A suite of infrastructure and maintenance projects will receive additional or fast-tracked funding in the Budget, including the Sydney Metro West and Sydney Metro - Western Sydney Airport.
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