2018-19 NSW STATE BUDGET UPDATE

December 18, 2018

18 December 2018

 

2018-19 NSW STATE BUDGET UPDATE

 

NSW MINING DELIVERS ANOTHER $455 MILLION TO THE PEOPLE OF NSW

 

Today’s NSW Budget Update confirms the importance of a diverse economy beyond Sydney, with mining royalties continuing to help fill a decline in stamp duty revenue due to a slowing Sydney property market.


As part of the budget update announced by the NSW Treasurer, mineral royalties have been revised up by $227.5 million in 2018-19 and by $455.4 million over the four years to 2021-22.

 

Mining royalties are now expected to deliver over $7.8 billion in revenue over the next four years.

 

This $7.8 billion in mining royalties over the next four years would pay for the bulk of the NSW Government’s key Budget commitments on education, including the $6 billion commitment to fund 170 new and upgraded schools and the $500 million plan to deliver air-conditioning in 1000 schools across NSW.

 

Similarly, $7.8 billion in mining royalties would pay for almost all of the NSW Government’s $8 billion Budget commitments for better health facilities, including the funding of 40 new and upgraded hospitals across NSW, $700 million for a Mental Health Infrastructure Program and $150 million into research to fight cardiovascular disease.

 

 

Contact: Harry Stutchbury | hstutchbury@nswmining.com.au | 0409 758 734 | 02 9274 1419


More News

Wearing Orange in Orange: Knights, fans and ..

February 25, 2016

The Knights may not have won against the Raiders on Saturday evening at Wade Park, Orange but they still had reason to celebrate...

New survey results: support for mining remai..

August 14, 2017

Support for the Hunter mining industry among Upper Hunter communities remains strong according to ReachTel survey.

Response to Doctors for the Environment

February 13, 2014

Most people in NSW understand the importance of mining to our economy, our way of life and the tens of thousands of jobs mining ...

Sign up for more information and Updates from NSW Mining