With the release of the NSW Budget for 2018-19, here are our top 10 budget measures.
1. Health A record $8.0 billion investment in health infrastructure over four years to continue the major capital program to provide new facilities, upgrades and redevelopments including Liverpool Hospital to get a $740 million world-class health, research and education precinct by 2026; $700 million for a new mental health infrastructure program; $1 billion for 950 more nurses and 300 doctors in state hospitals; $8 billion for capital works across 40 hospitals.
2. Education The Government is planning and delivering more than 170 new or upgraded schools to accommodate strong enrollment growth, at an estimated cost of $6.0 billion over four years.
3. Families Investing in a landmark $156.5 million Parents Package to improve the well-being of new parents and their babies.
4. Buses $1.5 billion for bus services throughout New South Wales, including regional and metropolitan services, school services and funding of new and replacement buses.
5. Trains The Government will invest more than $648.0 million in the More Trains, More Services program to improve the accessibility and capacity of state-wide train services.
6. Small Business From 1 July 2018 the tax-free threshold for payroll tax will increase from $750,000 to $850,000. It will continue to increase by $50,000 every year to reach $1.0 million in 2021-22. The increased thresholds will reduce the number of NSW small businesses subject to payroll tax by around 2,000 in 2018-19. This will grow to around 5,000 in 2021-22.
7. Disabled Funding for the New South Wales transition to the full National Disability Insurance Scheme (NDIS) on 1 July 2018 including $3.2 billion in 2018-19 as the NSW Government contribution to support the transition to the NDIS. This consists of an estimated $2.7 billion cash contribution and $477.5 million in kind contribution through services provided by NSW Government agencies.
8. Policing $288.2 million over four years to further support the re-engineering of the NSW Police Force and provide the Police Commissioner with the flexibility to deploy resources according to need and effectively address and respond to crime.
9. Housing An additional $61 million over 4 years for homelessness programs, and $33.1 million over 4 years to support Aboriginal housing.
10. Apprenticeships 100,000 fee-free apprenticeships will be created through a $285 million fund.
For further information and details of the NSW Budget 2018-19, please do not hesitate to contact us on (02) 4928 8500.