"The updated briefings show a steep decline in the state's finances of $1.3 billion by 2013-14 compared with figures published in December. It is being attributed to a sharp drop in revenue from GST receipts, transfer stamp duty, payroll tax receipts and dividends from the electricity businesses that were sold by Labor early this year.
In 2012-13, GST is forecast to fall by $224 million, payroll tax by $66 million, stamp duty by $217 million and dividends by $418 million"
I look forward to the downward revisions of revenue just made being upgraded in a couple of years when they're proven to be false. NSW Treasury was $2 billion out on it's 2009/10 projection, so the mind boggles as to how inaccurate they could be when projecting 4 years out. They do however, know how to please their new political masters.
