The NSW 2017-18 State Budget has been handed down by Treasurer Dominic Perrottet. A budget surplus of $12B has been the big headline, but there were a number of other key announcements in grants and assistance.
Jobs and Small Business
Jobs for NSW is the Government’s continued commitment of $190 million to support jobs, and $96M investment in this budget will see two key components. Firstly, $25 million to launch a co-investment vehicle with the private sector to make equity investments in growth companies across New South Wales and secondly $20 million to develop a site in the Sydney CBD where start-up incubators and accelerators will co-locate to foster collaboration and create jobs.
There will be $759M in skills development and training programs through TAFE NSW and other providers including $65 million over three years for a Youth Employment program and initiatives totalling $30.5 million to support business advisory services, help reduce red tape and drive innovation
Regional Communities and Environment
In this budget there is substantial funding for regional projects including $1B reserved in Restart for the Regional Growth: Economic Activation Fund to drive investment in regional New South Wales, $200M for a Stronger Country Communities Fund, $100M for a Regional Cultural Fund, $300 million from Rebuilding NSW for a Regional Growth: Environment and Tourism Fund and $100M over five years to protect threatened species through the Saving our Species program.
Budget papers can be found here.