NSW state budget : Stamp duty to be phased out amid $16 billion state deficit; Dominic Perrottet delivers speech to Parliament

The NSW 2020-21 Budget has been handed down and despite a record-breaking $16 billion deficit, many will benefit in the short-term from shovel-ready projects.

From families to tradies to prisoners - here's who are the winners and losers of this year's state Budget.

Today’s Budget confirms our commitment to invest in infrastructure across the Port Macquarie electorate that will support communities and that will deliver much needed jobs.

Member for Port Macquarie Leslie Williams  Comments On Budget:

Leslie Williams said this year’s Budget responds to a year of prolonged drought, catastrophic bushfires and a COVID 19 pandemic. Mrs Williams added that the Budgets aim is to keeps our community safe and creates jobs today while also forging a brighter future.

“The upgrade of the Hastings Secondary College, the Port Macquarie Koala Hospital redevelopment, the ongoing expansion of the carpark at Port Macquarie Base Hospital and the establishment of the Emmaus Memory Support Community Centre will see the creation of hundreds of local jobs to support our community through the pandemic. 

“In addition, almost $2 million to sixteen local Stronger Country Communities projects such as the Bonny Hills Community Hall upgrade and the new regional golf training range at Kew will see unprecedented building activity in every corner of the electorate.

“Planning is also underway for the new helipad at Port Macquarie Base Hospital, the new Police Station for Port Macquarie, the HealthOne facility at Laurieton and almost $6 million for social housing.

“The Liberals and Nationals Government has worked very hard to deliver in key areas while at the same time managing the State’s finances with an emphasis on getting people back to work, job creation and concentrating efforts on fast tracking infrastructure investment around the regions,” Mrs Williams said.

NSW Budget highlights include:

$300 million for the Regional Growth Fund to support growing regional centres, activate local economies and improve local services such as the Stronger Country Communities program and Sports Infrastructure Grants.

Reduction in the payroll tax rate in NSW to 4.85 per cent for two years - the equal lowest rate in Australia.  

$100 digital vouchers that can be used at restaurants, cafes, visitor sights and cultural attractions to help stimulate the NSW economy and support local jobs. 

$1,500 vouchers for small and medium-sized businesses to help pay Government fees and charges.

“Treasurer Dominic Perrottet has worked alongside a strong team in the NSW State Government to deliver for regional communities across NSW during what can only be described as one of the most extraordinary times of the past century,” Mrs Williams said. 

Sate Budget Winners:

Hospitality and entertainment:

Restaurants, cafes, pubs with kitchens, cinemas, zoos, museums and more will benefit as every NSW resident over the age of 18 will receive $100 in vouchers to spend in the community.

The vouchers will be delivered digitally and cannot be spent on tobacco, alcohol or gambling – ruling out certain pubs and parts of casinos.

Tradies:

Tradies will benefit as a result of massive shovel-ready projects worth $107 billion including transport projects, hospital upgrades and more.

Construction booms across the state will be aimed at creating 270,000 jobs over four years, with the idea of bringing the unemployment rate down to 5.25 per cent by June 2024.

First home buyers:

The stamp duty system could be overhauled for first time home buyers after a consultation period until March was announced as part of the state budget.

Under a proposed model, current stamp duty concessions provided to first home buyers could be replaced with a new grant of up to $25,000.

Families:

Hip pocket support for families include an extension of 15 hours of preschool per week extended to the end of 2021.

Those with younger children will benefit from more than $19.7 billion in spending on providing education for students of all ages.

A total of $337 million will be spent on providing tutors to every public school, and $366 million will be spent on the Rural Access Gap Program to help students in remote parts of the state receive a world-class education.

Small and medium businesses:

A total of $2.8 billion will be saved by NSW businesses as the threshold for payroll tax is lifted from $1 million to $1.2 million.

Businesses that fall under the threshold – and don't pay payroll tax – will receive a $1500 voucher to pay for government fees such as council rates.

Health:

More than $458 million will be spent to fast-track elective surgeries, primarily those that were delayed as a result of COVID-19.

A total of $20 million will be spent to fast-track state-wide research and clinical trials to tackle the global COVID-19 pandemic.

A massive raft of upgrades worth $8.3 billion will be made to hospitals including Westmead, Randwick, John Hunter, Liverpool and Tweed Hospital.

Police:

A record $4.8 billion will be spent on the NSW Police Force, including upgrades to police stations across the state.

A total of $583 million will be spent to recruit 1500 extra police over four years, touted as being the biggest increase for the force in more than 30 years.

LOSERS:

Prisoners:

Prisoners, and families of prisoners, looking to smuggle in contraband such as drugs or mobile phones are losers of the budget after $19 million was committed to installing body scanners at correctional centres.

The scanners will screen all inmates when they arrive at the prison and after each contact visit. Visitors will be screened "in the near future".

Retailers:

After the toughest retail year on record, NSW retailers will miss out on the government's $100 voucher spend. The vouchers are only eligible to be spent on food service and entertainment.

Residents under the age of 18

While there are amazing initiatives for education, and community sport for those aged under 18, sadly they will miss out on the government's $100 vouchers to spend on hospitality and tourism.

Motorists:

Despite state-wide lockdowns during the pandemic, motorists were losers of the budget – being stung by red light and speed cameras to the tune of $650 million.

Public Servants:

Public servants are a loser of this year's state budget after their annual pay rise of 2.5 per cent was frozen at 1.5 per cent.

This move affects thousands of workers from nurses to police, paramedics, bus drivers and more.

Source | 9News & Leslie Williams MP's Media Office