Last year's dificit was $6.9 billion. The state's debt is expected to reach $104 billion by 2023-24, while the state is expected to start recording a surplus after the year 2024.
- The state will not record a surplus until 2024
- The budget proposes an alternative to stamp duty
- NSW residents will receive coupons to help support the economy
The government say the budget focuses of jobs and it assumes that the borders will open by the end of next year. Furthermore the budget lists a proposed annual property tax instead of paying stamp duty. The idea is that such a tax would reduce the cost homebuyers would have to pay upfront.
Furthermore every adult in the state will receive four $25 coupons to spend on bars, restaurants and entertainment, as part of the governments effort to support the economy. The program costs $500 million.
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