Drop in GST revenue will cost NSW ‘more than Covid’, treasurer says
Daniel Mookhey says ‘absurd’ carve-up of GST allocations means the state will ‘almost certainly’ lose its coveted AAA credit ratingGet our morning and afternoon news emails, free app or daily news podcastNew South Wales will “almost certainly” lose its remaining top-notch debt rating after an “absurd” carve-up of GST revenue stripped more from state revenue than Covid-19, the state’s treasurer, Daniel Mookhey, said.The assessment comes about a month after the Commonwealth Grants Commission revealed how it would allocate GST money. NSW complained it would lose $1.65bn even as its population swelled and other states, such as Victoria, got extra funds.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading...
Daniel Mookhey says ‘absurd’ carve-up of GST allocations means the state will ‘almost certainly’ lose its coveted AAA credit rating
New South Wales will “almost certainly” lose its remaining top-notch debt rating after an “absurd” carve-up of GST revenue stripped more from state revenue than Covid-19, the state’s treasurer, Daniel Mookhey, said.
The assessment comes about a month after the Commonwealth Grants Commission revealed how it would allocate GST money. NSW complained it would lose $1.65bn even as its population swelled and other states, such as Victoria, got extra funds.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading...
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