NSW Treasurer Dominic Perrottet tonight welcomed the Federal Government\u2019s job-creating budget which provides significant tax relief for hard working Australians, supports businesses, and boosts investment in key infrastructure projects across NSW.
\nMr Perrottet commended federal counterpart Josh Frydenberg and Prime Minister Scott Morrison for delivering a budget which provides \u201csupport and hope\u201d for Australians in the midst of the most challenging economic environment in a generation.
\n\u201cThis is a budget which will create thousands of new jobs, deliver vital infrastructure projects for the people of NSW, and help stimulate the economic recovery through Government spending and tax cuts,\u201d Mr Perrottet said.
\n\u201cBusinesses doing it tough have been thrown a lifeline with the ability for them to write-off the full value of eligible assets, and offset losses incurred out to June 2022, providing support when it is needed most.\u201d
\nMr Perrottet said the Commonwealth\u2019s $2.7 billion investment in NSW infrastructure projects would help ensure a strong pipeline of construction projects and continue to create jobs for years to come, while the JobMaker program will support businesses to keep more Australians working.
\nThe Federal budget also laid bare the true cost of the COVID-19 pandemic to the Australian economy with a forecast national hit of $21.2 billion hit to GST over the forward estimates to 2023-24 since the Federal Government\u2019s update last December. This equates to a potential loss to NSW of $6.2 billion over this period.
\n\u201cThe nation\u2019s two biggest economies, NSW and Victoria, have been hard hit by the pandemic and the resultant drop in GST revenue is something we will overcome as we chart a course of recovery,\u201d Mr Perrottet said.
\n\u201cWhen it comes to the economic cost of COVID-19 it impacts us all and it has never been more important to work with the Commonwealth to create as many jobs as possible and chart a course for a strong recovery in the years ahead.\u201d
\nThe NSW State Budget will be delivered on November 17.<\/p>\n","protected":false},"excerpt":{"rendered":"
NSW Treasurer Dominic Perrottet tonight welcomed the Federal Government\u2019s job-creating budget which provides significant tax relief for hard working Australians, supports businesses, and boosts investment in key infrastructure projects across NSW. Mr Perrottet commended federal counterpart Josh Frydenberg and Prime Minister Scott Morrison for delivering a budget which provides \u201csupport and hope\u201d for Australians in … Continue reading “NSW LIBERALS: 2020-21 FEDERAL BUDGET”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8573","post","type-post","status-publish","format-standard","hentry","category-nswnews"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/8573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=8573"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/8573\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=8573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=8573"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=8573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}