'No point me handing out money': NSW treasurer's frank admission ahead of state budget
NSW Treasurer Daniel Mookhey says there's "no point" in dishing up cash handouts in an attempt to alleviate cost-of-living pressures in tomorrow's state budget.
In a sit-down interview with 9News State Politics Reporter Liz Daniels, Mookhey said any cash relief would end up hurting households in the form of higher interest rates.
"We aren't going to be giving cash handouts," he said.
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Daniel Mookhey says there's "no point" in dishing up cash handouts in tomorrow's state budget. Kate Geraghty
"There's no point me handing out money.
"All that happens is the Reserve Bank responds by increasing interest rates."
Mookhey pointed to the state government's toll cap, which was announced at last year's election and came into effect in January, as its main piece of cost-of-living relief, but hinted a little bit more will be announced tomorrow.
"Well, I do think that people tomorrow will see us do a bit more when it comes to helping families with the cost of living," he said.
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Mookhey says the state's toll cap is a key piece of cost-of-living relief. 9News
"But that toll cap policy is already delivering relief for people."
While Premier Chris Minns praised Mookhey's budget today as a "responsible budget in difficult economic times", those tricky financial conditions are going to take their toll tomorrow.
In December's half-year budget review, the government had been predicting a "modest" surplus for 2024-25, but the controversial GST carve-up will help push the state's accounts from the black and into the red.
Amid the tough economic times, Mookhey said housing, education and health were the government's focus.
"We are focusing on making sure we're building more homes here in NSW," he said.
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Penrith Beach will be funded for years to come in the budget. Kate Geraghty/SMH
"We're focusing on making sure that every family has access to a terrific public school and a reliable public hospital."
In a silver lining for families in western Sydney, the treasurer promised Penrith Beach will be green-lit for years to come.
"'Pondi' continues," he said.
"It will be budgeted for this year and all years going forward.
"It will be an important part of making sure people get access to free relief from the heat."
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