Latest news with #BuildingCommission
The Advertiser
7 hours ago
- Business
- The Advertiser
Housing, TAFE, arts budget boosts as state growth slows
THE FIGURES NSW state economy - $880 billion Growth in 2025/26 - 1.75 per cent (stable) Revenue - $124.2b (up 5.1 per cent) Expenses - $127.6b (up 3.0) Budget result - $3.4b deficit Gross debt - $178.8 billion Unemployment rate - 4.25 per cent (up from 4.0 per cent) BUDGET ANNOUNCEMENTS HOUSING * An Australian-first $1 billion pre-sale fund to help get 15,000 low- and medium-density homes off the ground * $145 million across four years for the state's Building Commission to hire more prosecutors, investigators and inspectors to weed out dodgy residential builds * $30.4 million crisis intervention package for homelessness services * Extension of build-to-rent tax concessions beyond slated 2039 end date COMMUNITIES * $1.2 billion on child protection, including substantial boost for foster carer allowances * $110 million to maintain public spaces, including the repair of heritage-listed Pyrmont Bridge and maintenance of fire trails * Commonwealth Veteran Card holders will receive free vehicle entry to all NSW National Parks * $25.8 million to support community sport * $6 million for animal rehoming organisations ARTS * Establishment of a $100 million fund to find a suitable location for a second major film studio in Sydney * $280.6 million in rebates for the screen and digital games sector * $40.6 million for 24-hour Commissioner and Sound NSW TRANSPORT: * $452 million to increase bus services, including 50 new "bendy" buses and more regular school bus services in outer Sydney and regional areas * Road upgrades and new signage around Western Sydney Airport and $250 million to finish the widening of Mona Vale Rd, a critical artery in north Sydney. * Major road upgrades in Dapto and Queanbeyan and repairs in flood-affected Hunter and Northern Rivers EDUCATION: * $9 billion across four years for public school infrastructure, largely focused on growing suburban communities * $3.4 billion towards TAFE and upskilling, including $40 million to enable 23,000 construction students to complete their apprenticeships for free HEALTH: * Another $700 million towards construction of the $2 billion Bankstown Hospital and relocation of Bankstown TAFE * A statewide pathology hub to be established at Westmead, with the $492 million investment to include an upgrade to a high-security lab researching dangerous pathogens such as Ebola and measles * $23 million to cut down the overdue surgery list by 3500 * $83 million to bolster maternity care ABORIGINAL AFFAIRS * $202 million for Closing the Gap projects, including $23 million towards community-led suicide prevention programs LAW AND ORDER: * $125.8 million for cybersecurity and hardware upgrades to NSW Police * $227 million across five years to help victims of violent crime access counselling * About $100 million to upgrade the state's busiest courthouse and employ more prosecutors, solicitors and witness assistance officers INNOVATION AND BUSINESS: * $80 million in innovation funding, including $38.5 million to boost technology hub TechCentral * A four-person Investment Delivery Authority to fast-track planning approvals for billion-dollar projects THE FIGURES NSW state economy - $880 billion Growth in 2025/26 - 1.75 per cent (stable) Revenue - $124.2b (up 5.1 per cent) Expenses - $127.6b (up 3.0) Budget result - $3.4b deficit Gross debt - $178.8 billion Unemployment rate - 4.25 per cent (up from 4.0 per cent) BUDGET ANNOUNCEMENTS HOUSING * An Australian-first $1 billion pre-sale fund to help get 15,000 low- and medium-density homes off the ground * $145 million across four years for the state's Building Commission to hire more prosecutors, investigators and inspectors to weed out dodgy residential builds * $30.4 million crisis intervention package for homelessness services * Extension of build-to-rent tax concessions beyond slated 2039 end date COMMUNITIES * $1.2 billion on child protection, including substantial boost for foster carer allowances * $110 million to maintain public spaces, including the repair of heritage-listed Pyrmont Bridge and maintenance of fire trails * Commonwealth Veteran Card holders will receive free vehicle entry to all NSW National Parks * $25.8 million to support community sport * $6 million for animal rehoming organisations ARTS * Establishment of a $100 million fund to find a suitable location for a second major film studio in Sydney * $280.6 million in rebates for the screen and digital games sector * $40.6 million for 24-hour Commissioner and Sound NSW TRANSPORT: * $452 million to increase bus services, including 50 new "bendy" buses and more regular school bus services in outer Sydney and regional areas * Road upgrades and new signage around Western Sydney Airport and $250 million to finish the widening of Mona Vale Rd, a critical artery in north Sydney. * Major road upgrades in Dapto and Queanbeyan and repairs in flood-affected Hunter and Northern Rivers EDUCATION: * $9 billion across four years for public school infrastructure, largely focused on growing suburban communities * $3.4 billion towards TAFE and upskilling, including $40 million to enable 23,000 construction students to complete their apprenticeships for free HEALTH: * Another $700 million towards construction of the $2 billion Bankstown Hospital and relocation of Bankstown TAFE * A statewide pathology hub to be established at Westmead, with the $492 million investment to include an upgrade to a high-security lab researching dangerous pathogens such as Ebola and measles * $23 million to cut down the overdue surgery list by 3500 * $83 million to bolster maternity care ABORIGINAL AFFAIRS * $202 million for Closing the Gap projects, including $23 million towards community-led suicide prevention programs LAW AND ORDER: * $125.8 million for cybersecurity and hardware upgrades to NSW Police * $227 million across five years to help victims of violent crime access counselling * About $100 million to upgrade the state's busiest courthouse and employ more prosecutors, solicitors and witness assistance officers INNOVATION AND BUSINESS: * $80 million in innovation funding, including $38.5 million to boost technology hub TechCentral * A four-person Investment Delivery Authority to fast-track planning approvals for billion-dollar projects THE FIGURES NSW state economy - $880 billion Growth in 2025/26 - 1.75 per cent (stable) Revenue - $124.2b (up 5.1 per cent) Expenses - $127.6b (up 3.0) Budget result - $3.4b deficit Gross debt - $178.8 billion Unemployment rate - 4.25 per cent (up from 4.0 per cent) BUDGET ANNOUNCEMENTS HOUSING * An Australian-first $1 billion pre-sale fund to help get 15,000 low- and medium-density homes off the ground * $145 million across four years for the state's Building Commission to hire more prosecutors, investigators and inspectors to weed out dodgy residential builds * $30.4 million crisis intervention package for homelessness services * Extension of build-to-rent tax concessions beyond slated 2039 end date COMMUNITIES * $1.2 billion on child protection, including substantial boost for foster carer allowances * $110 million to maintain public spaces, including the repair of heritage-listed Pyrmont Bridge and maintenance of fire trails * Commonwealth Veteran Card holders will receive free vehicle entry to all NSW National Parks * $25.8 million to support community sport * $6 million for animal rehoming organisations ARTS * Establishment of a $100 million fund to find a suitable location for a second major film studio in Sydney * $280.6 million in rebates for the screen and digital games sector * $40.6 million for 24-hour Commissioner and Sound NSW TRANSPORT: * $452 million to increase bus services, including 50 new "bendy" buses and more regular school bus services in outer Sydney and regional areas * Road upgrades and new signage around Western Sydney Airport and $250 million to finish the widening of Mona Vale Rd, a critical artery in north Sydney. * Major road upgrades in Dapto and Queanbeyan and repairs in flood-affected Hunter and Northern Rivers EDUCATION: * $9 billion across four years for public school infrastructure, largely focused on growing suburban communities * $3.4 billion towards TAFE and upskilling, including $40 million to enable 23,000 construction students to complete their apprenticeships for free HEALTH: * Another $700 million towards construction of the $2 billion Bankstown Hospital and relocation of Bankstown TAFE * A statewide pathology hub to be established at Westmead, with the $492 million investment to include an upgrade to a high-security lab researching dangerous pathogens such as Ebola and measles * $23 million to cut down the overdue surgery list by 3500 * $83 million to bolster maternity care ABORIGINAL AFFAIRS * $202 million for Closing the Gap projects, including $23 million towards community-led suicide prevention programs LAW AND ORDER: * $125.8 million for cybersecurity and hardware upgrades to NSW Police * $227 million across five years to help victims of violent crime access counselling * About $100 million to upgrade the state's busiest courthouse and employ more prosecutors, solicitors and witness assistance officers INNOVATION AND BUSINESS: * $80 million in innovation funding, including $38.5 million to boost technology hub TechCentral * A four-person Investment Delivery Authority to fast-track planning approvals for billion-dollar projects THE FIGURES NSW state economy - $880 billion Growth in 2025/26 - 1.75 per cent (stable) Revenue - $124.2b (up 5.1 per cent) Expenses - $127.6b (up 3.0) Budget result - $3.4b deficit Gross debt - $178.8 billion Unemployment rate - 4.25 per cent (up from 4.0 per cent) BUDGET ANNOUNCEMENTS HOUSING * An Australian-first $1 billion pre-sale fund to help get 15,000 low- and medium-density homes off the ground * $145 million across four years for the state's Building Commission to hire more prosecutors, investigators and inspectors to weed out dodgy residential builds * $30.4 million crisis intervention package for homelessness services * Extension of build-to-rent tax concessions beyond slated 2039 end date COMMUNITIES * $1.2 billion on child protection, including substantial boost for foster carer allowances * $110 million to maintain public spaces, including the repair of heritage-listed Pyrmont Bridge and maintenance of fire trails * Commonwealth Veteran Card holders will receive free vehicle entry to all NSW National Parks * $25.8 million to support community sport * $6 million for animal rehoming organisations ARTS * Establishment of a $100 million fund to find a suitable location for a second major film studio in Sydney * $280.6 million in rebates for the screen and digital games sector * $40.6 million for 24-hour Commissioner and Sound NSW TRANSPORT: * $452 million to increase bus services, including 50 new "bendy" buses and more regular school bus services in outer Sydney and regional areas * Road upgrades and new signage around Western Sydney Airport and $250 million to finish the widening of Mona Vale Rd, a critical artery in north Sydney. * Major road upgrades in Dapto and Queanbeyan and repairs in flood-affected Hunter and Northern Rivers EDUCATION: * $9 billion across four years for public school infrastructure, largely focused on growing suburban communities * $3.4 billion towards TAFE and upskilling, including $40 million to enable 23,000 construction students to complete their apprenticeships for free HEALTH: * Another $700 million towards construction of the $2 billion Bankstown Hospital and relocation of Bankstown TAFE * A statewide pathology hub to be established at Westmead, with the $492 million investment to include an upgrade to a high-security lab researching dangerous pathogens such as Ebola and measles * $23 million to cut down the overdue surgery list by 3500 * $83 million to bolster maternity care ABORIGINAL AFFAIRS * $202 million for Closing the Gap projects, including $23 million towards community-led suicide prevention programs LAW AND ORDER: * $125.8 million for cybersecurity and hardware upgrades to NSW Police * $227 million across five years to help victims of violent crime access counselling * About $100 million to upgrade the state's busiest courthouse and employ more prosecutors, solicitors and witness assistance officers INNOVATION AND BUSINESS: * $80 million in innovation funding, including $38.5 million to boost technology hub TechCentral * A four-person Investment Delivery Authority to fast-track planning approvals for billion-dollar projects
Perth Now
7 hours ago
- Business
- Perth Now
Housing, TAFE, arts budget boosts as state growth slows
THE FIGURES NSW state economy - $880 billion Growth in 2025/26 - 1.75 per cent (stable) Revenue - $124.2b (up 5.1 per cent) Expenses - $127.6b (up 3.0) Budget result - $3.4b deficit Gross debt - $178.8 billion Unemployment rate - 4.25 per cent (up from 4.0 per cent) BUDGET ANNOUNCEMENTS HOUSING * An Australian-first $1 billion pre-sale fund to help get 15,000 low- and medium-density homes off the ground * $145 million across four years for the state's Building Commission to hire more prosecutors, investigators and inspectors to weed out dodgy residential builds * $30.4 million crisis intervention package for homelessness services * Extension of build-to-rent tax concessions beyond slated 2039 end date COMMUNITIES * $1.2 billion on child protection, including substantial boost for foster carer allowances * $110 million to maintain public spaces, including the repair of heritage-listed Pyrmont Bridge and maintenance of fire trails * Commonwealth Veteran Card holders will receive free vehicle entry to all NSW National Parks * $25.8 million to support community sport * $6 million for animal rehoming organisations ARTS * Establishment of a $100 million fund to find a suitable location for a second major film studio in Sydney * $280.6 million in rebates for the screen and digital games sector * $40.6 million for 24-hour Commissioner and Sound NSW TRANSPORT: * $452 million to increase bus services, including 50 new "bendy" buses and more regular school bus services in outer Sydney and regional areas * Road upgrades and new signage around Western Sydney Airport and $250 million to finish the widening of Mona Vale Rd, a critical artery in north Sydney. * Major road upgrades in Dapto and Queanbeyan and repairs in flood-affected Hunter and Northern Rivers EDUCATION: * $9 billion across four years for public school infrastructure, largely focused on growing suburban communities * $3.4 billion towards TAFE and upskilling, including $40 million to enable 23,000 construction students to complete their apprenticeships for free HEALTH: * Another $700 million towards construction of the $2 billion Bankstown Hospital and relocation of Bankstown TAFE * A statewide pathology hub to be established at Westmead, with the $492 million investment to include an upgrade to a high-security lab researching dangerous pathogens such as Ebola and measles * $23 million to cut down the overdue surgery list by 3500 * $83 million to bolster maternity care ABORIGINAL AFFAIRS * $202 million for Closing the Gap projects, including $23 million towards community-led suicide prevention programs LAW AND ORDER: * $125.8 million for cybersecurity and hardware upgrades to NSW Police * $227 million across five years to help victims of violent crime access counselling * About $100 million to upgrade the state's busiest courthouse and employ more prosecutors, solicitors and witness assistance officers INNOVATION AND BUSINESS: * $80 million in innovation funding, including $38.5 million to boost technology hub TechCentral * A four-person Investment Delivery Authority to fast-track planning approvals for billion-dollar projects
7NEWS
7 hours ago
- Business
- 7NEWS
NSW budget 2025: Treasurer Daniel Mookhey hands down Minns government's third budget
NSW Treasurer Daniel Mookhey has handed down the Minns government's third budget, describing it as a pathway back to surplus. While announcing a $5.7 billion deficit for 2025-26, Mookhey said the coming year would be one of 'tight spending', with a surplus targeted by 2028-29. 'For most of the last three years, the rising cost of living and higher interest rates have put pressure on households and dragged on economic growth,' he said. 'The challenge is no longer high inflation, but low growth. 'In this Budget, we show that cost of living pressures and interest rates are easing and opportunities for economic growth are emerging.' Here's how the budget could affect you. Housing developers and home buyers The NSW Government is investing $1 billion into the Pre-Sale Guarantee, aimed at helping developers secure finance earlier and speed up construction timelines. The initiative is expected to fast-track more than 5000 homes over five years and create 1500 jobs. 'We promise to buy anything that's unsold,' the Minister told reporters. The government is also making the 50 per cent land tax discount for build-to-rent projects permanent, giving long-term certainty to investors and boosting rental supply. The state will park $145.1 million into the Building Commission for the building regulator to continue to conduct inspections, investigate complex building issues, progress key building reforms and educate the industry. Child carers From January 1, 2026, foster carers will receive a 20 per cent increase in their allowance. A carer of a five-year-old will get an extra $131.20 per fortnight, and that of a 14-year-old, the increase is $176 per fortnight. The budget includes a record $1.2 billion investment in child protection, marking the largest-ever commitment to reforming the out-of-home care (OOHC) system, which supports children who can't safely live at home. Hospitals and healthcare The Minns Government is committing $12.4 billion to health infrastructure over the next four years. Key investments include $910 million for Western Sydney's first new hospital in 40 years at Rouse Hill, $700 million for the construction of the new Bankstown Hospital, and $492 million to build a state-of-the-art pathology hub at the Westmead Health Precinct, replacing a facility built more than 50 years ago. Commuters using public transport The NSW Government is committing $522.2 million to improve public transport across the state, including $82.3 million to deliver 75 new buses. It will allocate $70 million to enhance transport access to the new Sydney Fish Market, with $30 million to build a scenic ferry wharf on Blackwattle Bay, and $40 million to upgrade the nearby Wentworth Park light rail stop with new lifts, ramps, and improved safety features. Regional residents Residents in the Riverina Murray region will benefit from $206 million in road upgrades, while the Illawarra-Shoalhaven region is set to receive $680.5 million to continue works on the Princes Highway. Small businesses and startups The government is pouring nearly $80 million into its Innovation Blueprint to give emerging tech companies more financial and structural support. Another $17.7 million will go towards setting up the Investment Delivery Authority, which is designed to make it easier and faster for major projects to get off the ground in NSW.
