Kellie Sloane
Leader of the Opposition
NSW Liberal Leader
Scott Farlow
Shadow Treasurer
Shadow Minister for the Hunter
Families across New South Wales will foot the bill for Labor’s big tax budget that breaks their election promise and leaves the state worse off.
The Albanese Government’s budget will increase the tax burden on families and business across NSW, following the lead of the Minns Labor Government who have presided over a 30 per cent increase in taxes since they have come to Government.
NSW will receive its lowest level of GST funding since the tax was introduced at 82 cents in the dollar and $1.25 billion less specific purpose payments in 2026-27 (compared to 2025-26) which includes infrastructure spending.
NSW infrastructure funding declines by 28 per cent over the forward estimates, with NSW receiving $5.557 billion less than Victoria and a staggering $7.945 billion less than Queensland.
NSW Liberal Leader Kellie Sloane said that NSW families will be left with the bill for Labor’s budget.
“Labor went to the last election promising not to remove negative gearing or the capital gains tax discount, but Labor has shown they’ll say one thing to win an election and do the opposite when they’re elected,” said Ms Sloane.
“NSW will receive its lowest level of GST on record, $1.4 billion less than Victoria despite having more than a million more people.”
“When families are struggling with higher costs and 6,200 businesses a year are shutting their doors, Labor’s tax grab on aspiration and enterprise is only going to hurt the NSW economy more.”
Shadow Treasurer Scott Farlow said the Premier can’t negotiate with his Canberra mates and is dragging NSW down with him.
“Every person in NSW is $1,101 worse off than every Victorian and $405 worse off than every Queenslander from the Federal Government,” said Mr Farlow.
“While raising $77 billion in additional taxes from these changes over the next ten years, NSW families will be footing the bill and we will see a declining share in our GST and spending, including on infrastructure.”
“NSW needs a Premier and Treasurer who are prepared to stand up to Canberra and not roll over as their lap dogs.”