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NSW Budget 2016/17: Winners and losers

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AAP Source: AAP

The NSW government is splashing out on public transport and road upgrades in this year's budget as part of a record infrastructure spend.


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By Justin Park

Source: SBS



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The NSW government is splashing out on public transport and road upgrades in this year's budget as part of a record infrastructure spend.


Winners

Public transport users

* A massive $73.3 billion was set aside for state infrastructure over the next four years

* The first stage of the Sydney Metro rail project will move closer to completion in 2019 with a $2.7 billion cash injection, while $277 million will going to light rail projects in Sydney's CBD and southeast, Parramatta, and Newcastle.

Western Sydney

* $400 million to upgrade its trains and rail infrastructure and boost the number of services to booming western Sydney suburbs

Schools

* At least $1 billion for 1100 extra classrooms in the next four years to deal with skyrocketing student

* Smalls Rd, Ryde and North Kellyville to get new primary schools

Health

* $1.6b: hospital upgrades and redevelopments

* $1.8b: mental health services

* $375m: emergency department visits and additional elective surgeries

Business, Small business, Young job seeker

 

Losers

Foreign property investors

Foreigners buying real estate will pay a 4% stamp duty surcharge that starts on Budget Day. 0.75% land tax surcharge will begin in 2017.

Click the Podcast icon above to listen in this story in Korean.

 


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