“The budget makes clear that the Government is planning for a significant, whole-of-government approach to pave the road towards post-pandemic recovery,” Dominic Perrottet

Highlights of the 2020-21 NSW Budget released by Treasurer Dominic Perrottet

“This year's budget focuses on spending in a low interest debt environment," NSW Treasurer Dominic Perrottet.




Highlights of the 2020-21 NSW Budget released by Treasurer Dominic Perrottet

17/11/2020

(See Translation in Arabic section)

The NSW 2020-21 budget was handed down by Treasurer Dominic Perrottet. “2020 has been tumultuous,” he said in his Budget speech.

“This year's budget focuses on spending in a low interest debt environment with a central aim to position NSW for the strongest and quickest bounce back post-COVID-19.

“The budget makes clear that the government is planning for a significant, whole-of-government approach to pave the road towards post-pandemic recovery, with each portfolio making targeted stimulus measures.”

Here are some key highlights.

STAMP DUTY REFORM

Reforms will allow buyers to opt out of stamp duty for a smaller annual property tax.

ENERGY AND ENVIRONMENT

$50 million worth of grants have been allocated to fast track development of NSW hydro projects. It takes about eight years to deliver these large-scale projects, which will support around 3000 megawatts of new energy capacity and help keep the NSW grid more reliable.

National Parks will receive $3.9 billion in funding over the next four years. Of this allocation, $57 million will be dedicated to respond to the NSW bushfire inquiry, including improving Aboriginal cultural fire management.

In the agriculture sector, a record $36.1 million has been spent in biosecurity, to mitigate a recent explosion in weed and pest activity.

SOCIAL INFRASTRUCTURE

As part of the Government’s COVID recovery plan, an extra $900 million will be added to the social housing budget, creating thousands of new homes and up to 3000 jobs.

REGIONS

An historic investment of $2.7 billion will be made in regional public infrastructure, education and recovery efforts. Of this, $900 million will be spent on health capital works, regional hospitals and health facilities.

INFRASTRUCTURE

A record $107 billion infrastructure pipeline will focus on shovel and screwdriver-ready projects to create and support jobs.

PLANNING

Property and infrastructure is a key pillar in the Government’s vision for economic recovery and growth. A further $240 million this financial year, and $570 million over the next four years, is also being pledged towards creating a more timely, certain and transparent planning system.

EDUCATION

Budget allocation in the education space is focused on COVID-19 recovery for children, students and families. Free community preschool will be available for 12 months, and $337 million is being spent to provide tutors to every public school and select non-government schools in 2021 to mitigate the disruptions caused by the pandemic.

TRANSPORT

By 2024, Sydney will have 31 metro railway stations and a 66-kilometre standalone metro railway system. A record $14 billion commitment from the Government in this budget will continue to deliver city-changing developments to transport infrastructure.

LOCAL GOVERNMENT

$200 million will flow to the 128 councils in NSW for infrastructure, facilities and services.

SERVICES

Record investment in digital services will see the Service NSW app continue to rapidly expand. A further highlight of this sector is $240 million over three years to Cyber Security investments.

PUBLIC SPACES

A COVID Safe Summer is this sector’s focus, with $1.3 million to support councils with events and ideas to draw people back into retail centres, villages and public spaces, stimulating economic recovery.




 














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