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.