NSW: Budget won't be in surplus for three years: mid-year review

AAP General News (Australia)
12-14-2005
NSW: Budget won't be in surplus for three years: mid-year review

The New South Wales government's scrapping of the property vendor duty has wiped out
a 300 million dollar budget surplus .. and the state's budget will not be back in surplus
for at least three years.

A mid-year budget review .. to be released next week .. will show a balanced New South
Wales budget in the current 2005-2006 financial year.

But the review says that in 2006-07 .. the budget will show a deficit of more than
500 million dollars .. but return to balance in 2007-2008 and a surplus in 2008-09.

New South Wales Premier MORRIS IEMMA released some details of the review in an address
to the Committee for the Economic Development of Australia today.

AAP RTV acb/was/wz/jv

KEYWORD: BUDGETNSW (SYDNEY)

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