Fighting the debt burden

The state government gross debt is projected to reach nearly $200 billion by 2027-28.

The interest repayments alone on that debt will be $8.5 billion per year in 2027‑28. That annual interest bill is more than we spend each year on police, Fire and Rescue and other emergency services combined. This will require the government to either cut services or raise taxes through increasing payroll tax (a tax on jobs) as well as stamp duty and land tax (a tax on homes). The resulting tax hike will mean every family in New South Wales will need to pay (either directly or indirectly through higher prices) an additional $2,500 per year.

The debt will force the next generation to have to choose between taxes they cannot afford to pay, and the government services that they deserve. We have to take action now.

Housing
Housing affordability is an issue that demands a whole-of-government response. To rebalance incomes and home prices, we must re-examine our tax settings, simplify planning laws, remove government and union imposed costs to build and fund the enabling and community infrastructure that growth requires. An investment which can be recovered by a smart tax system.

Better jobs
To help people grow professionally and raise their incomes (and to deal with a more disrupted economy) we should develop flexible models of course delivery for skill and trade qualifications including remote classes, after-hours learning and short courses with intensive periods of full-time study.