The NSW Budget expected to be handed down at noon today will include a few surprises, according to NSW Premier Nathan Rees and will favour local businesses.
NSW Treasurer Eric Roozendaal admitted yesterday a plan to increase favouritism towards local businesses in the budget may weaken the state’s budget bottom line, but will help to boost jobs.
“There may be some increased costs, but frankly, if it’s going to support local jobs … in NSW, we think it’s appropriate,” Mr Roozendaal said.
NSW currently has the highest unemployment rate of any other state at 6.4 percent.
Roozendaal also revealed that the budget deficit will reach $1.3 billion. Spending in the budget includes $14.7 billion on education, $15.1 billion for health and $4.4 billion for roads.