NET DEBT
Net debt as a proportion of gross state product
EXPENSES BELOW REVENUE
$ million
Budget Result -283
Total Expenditure 67,396
Total Revenue 67,113
Net Debt 12,364
Infrastructure Spending 15,038
NSW net debt as a proportion of GSP is the lowest of comparable states.
The Government’s efficiency and wages polices have allowed enhancement of services while maintaining expenditure at sustainable levels.
NSW Vic QLD WA SA TasS&P Credit Rating AAA AAA AA AA AA AAEconomic Growth +4.7% +1.8% -0.9% -1.1% +0.4% +0.4%Unemployment Rate 5.7% 6.2% 6.2% 5.0% 6.8% 7.5%Retail Sales +8.1% +7.2% +4.0% +1.4% +3.4% +3.4%
Four year average expense growth has continually been below revenue growth.
KEY BUDGET RESULTS
CUMULATIVE SAVINGS EFFECT
NSW IS COMMITTED TO MAINTAINING A TRIPLE-A CREDIT RATING
2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18
$23.6 BILLIONGAP WITHOUT ACTION
3,000
2,000
1,000
0
-1,000
-2,000
-3,000
-4,000
-5,000
$ m
illio
ns
Budget result Without savings
0%
4%
8%
2%
6%
1%
5%
3%
7%
New South Wales Queensland Western Australia Victoria South Australia
9
8
7
6
5
4
3
Perce
nt
2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18
Revenues Expenses
AA+AA+
AA+
AAA
AAA
AA
124,000 HOMES BUILT IN NSW SINCE
APRIL 2011
NSW HAS THE STRONGEST
ECONOMY IN AUSTRALIA
NSW Budget 2014-15 Budget Overview
New South Wales Budget 2014-15 New South Wales Budget 2014-15
Rebuilding NSW
• $500 million of additional funding over four years for child protection has been included in this Budget. This will support the transition of out-of-home care to the non-government sector, to provide more assistance for caseworkers and deliver a major technology upgrade.
• Reforms like Safe Home for Life are part of the $1.6 billion the NSW Government will invest in 2014-15 to keep children and young people safe and enable them to grow and reach their potential.
• Total health budget for 2014-15 will be $19.9 billion.
• $18.7 billion will be spent on services and the Health capital program will be $1.3 billion.
• $300 million is provided for increased activity for 80,000 extra emergency department attendances, 40,000 extra patients treated in hospitals and 3,000 extra elective surgeries.
• $24.5 million will be spent this year to commence construction on five new ambulance stations at: Bankstown, Blacktown, Kogarah, Liverpool and Penrith.
• $15 million to employ 115 new clinical nurse educators/midwife educators and specialists, completing the election commitment of 275 new positions.
• A record education, training
and early childhood education
budget of $14.4 billion is
delivered in 2014-15, an increase
of $612 million on last year’s
expenditure. This includes
$230 million of additional
funding as part of the “Gonski”
education reforms delivering
a needs based funding model,
improvements to teacher quality
and enhancements to rural and remote education.
• $400 million funding for schools
infrastructure, which delivers
two new public schools, a new
special needs facility to be built
at Glenmore Park and 14 new
major school upgrade projects.
The upgrades include a major
redevelopment of Hunter Sports
High School, new permanent
classrooms for Point Claire
Public School and Wilton Public School and a complete
redevelopment for Lucas Gardens School for Specific
Purposes. These new projects will deliver 256 new permanent
classrooms across the State.
• $2.3 billion for vocational
education, including $1.9 billion
for TAFE. This represents
an increase of $125 million
for vocational education
and training on last year’s
expenditure. Since coming to
Government the vocational
education and training budget
has increased by 11%.
SUPPORTING THE VULNERABLE
HEALTH
SCHOOLS AND EDUCATION
$500 million
OF ADDITIONAL FUNDING
$14.4 billion EDUCATION
$400 million
FOR SCHOOLS INFRASTRUCTURE
256 NEW
PERMANENT CLASSROOMS ACROSS THE
STATE
New South Wales Budget 2014-15 New South Wales Budget 2014-15
Rebuilding NSW Rebuilding NSW
ACHIEVEMENTS OVER 3 YEARS
Transport services are made quicker and easier through the progressive roll out of the Opal card electronic ticketing system.
300,000OPAL CARDS REGISTERED
The ongoing transition of out-of-home care services to non-government organisations will deliver better results for children with complex needs.
3,168CASEWORKERS
There are 3,435 ambulance paramedics, an increase of 205 paramedics since March 2011.
205MORE AMBULANCE
PARAMEDICS
There are now 95,000 emergency services volunteers and professionals. 4,000+
MORE EMERGENCY SERVICES
VOLUNTEERS
The NSW Government has introduced almost 8,000 extra weekly public transport services since March 2011. This includes more than 4,700 in Sydney’s west.
8,000EXTRA PUBLIC TRANSPORT
WEEKLY SERVICES
NSW now has 16,336 police, which is 550 more than under the previous Government.
550MORE POLICE
NSW now has more than 47,500 nurses and midwives, which is 2,800 more than the previous Government.
2,800MORE NURSES
NSW now has 62,000 teachers, which is 755 more than under the previous Government.
755MORE TEACHERS
INCREASED FUNDING ACROSS ALL SECTORS SINCE 2010-2011
Police & Justice Transport Education Health0
4,000
12,000
8,000
2,000
6,000
10,000
20,000
16,000
14,000
18,000
2010-112014-15
$ m
illio
ns
Growth in funding to service delivery from 2010-11 to 2014-15
New South Wales Budget 2014-15 New South Wales Budget 2014-15
Rebuilding NSW Rebuilding NSW
RECORD INVESTMENT IN INFRASTRUCTURE
STATE FUNDED INFRASTRUCTURE EXPENDITURE
NSW MAJOR INFRASTRUCTURE
NSW has committed $60 billion to rebuilding state infrastructure. Major investment in rail and road projects will ease the burden of congestion across the State. Infrastructure projects are rebuilding NSW’s productivity.
Project Name Start Date Delivery Date Estimated Total Cost
North West Rail Link Under construction 2019 $8.3 billion
WestConnex 2015 2023 $14.9 billion
NorthConnex 2014 2019 $3 billion
CBD and South East Light Rail 2015 2019 $1.6 billion
Western Sydney roads package to support Sydney’s second airport
2014 2024 $3.5 billion
Pacific Highway Upgrade (complete dual carriageway Hexham to Woolgoolga/Ballina to QLD)
Under construction 2020
The Commonwealth Government will contribute $5.6 billion from 2013-14. The NSW Government will contribute $395 million in 2014-15.
Northern Beaches Health Service Redevelopment
2015 2018 N/A
Darling Harbour Live Under construction 2017 $1.1 billion
Next Generation Rail Fleet 2014 2024 $2.8 billion
South West Rail Link Under construction 2015 $2 billion
Barangaroo Precinct Under construction 2015 $249 million
$60 billion FOR
INFRASTRUCTURE
0
4000
12000
8000
2000
6000
10000
$ m
illio
ns
2008-09
$5.9 billion average
$7.4 billion average
$8.8 billion average
2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18
New South Wales Budget 2014-15 New South Wales Budget 2014-15
Rebuilding NSW