Overview – NSW State Budget Special Edition

7 September 2011

Key points of the O’Farrell Government’s first budget:

  • $8 billion in savings across four years.
  • 5,000 public sector jobs to go under a program of voluntary redundancies.
  • Increase in mining royalties to offset carbon tax.
  • First-home buyer stamp duty exemption restricted to newly constructed homes.
  • Budget into deficit in 2011-12 to the tune of $718 million.
  • Return to a “modest” $292 million surplus in 2012-13.