NSW Set To Become Australia’s First Trillion Dollar Baby

20 June 2017

Today’s NSW State Budget indicates that the State is now on track to have a net worth of a quarter of a trillion dollars, thanks in part to a boost from the privatisation of state assets.

BDO’s National Leader for Tax, Marcus Leonard said the ‘Trillion Dollar Baby’ State recorded surplus of $4.5 billion this financial year.

“The NSW Budget is in strong shape and the bank balance has been boosted by the poles and wires sale,” he said.

“It’s good to see a focus on infrastructure investment.  For far too long there was underspend in comparison to population growth.”

“It’s now a case of catch-up football as this growth, particularly in Sydney, has created a chasm between where we should be as a world-class city and where we currently live.”