GST Redistribution More Costly to NSW Than COVID-19

‘Our share has fallen to 87 cents for every dollar paid in GST in this state,’ the state’s treasurer said.

AAP Image/Sam Mooy

New South Wales (NSW) Treasurer Daniel Mookhey says the GST redistribution by the federal government will result in the state losing its AAA credit rating and cost them nearly $12 billion over the next four years—more than COVID-19 policies.

The treasurer told the McKell Institute in Sydney that the changes will see the equivalent of 9,000 healthcare workers, 19,000 teachers, or 16,000 police officers go unfunded and will result in a significant fiscal setback.