set up by Dominic Perrottet to pay down debt could be in line for changes under the NSW Minns Government after treasury briefings revealed $7 billion in unexpected cost pressures which have lengthened the odds of a return to surplus in 2025.
When asked about the $40 billion in managed funds administered by the state’s debt arm, Treasury Corp, including a $1.6 billion Snowy Hydro Legacy Fund and a $9 billion NSW Future Infrastructure Fund, Mr Mookhey said they would be included in the review. Mr Mookhey has been highly critical of the structure – which he once blasted as a “moral hazard” – as a speculative and risky investment at a time when the state’s debt bill is approaching $6 billion. On Monday, he expressed concern about the interest bill on the state’s gross debt which was forecast to be $187 billion by 2025-2026.“The cost of government borrowing is repricing itself as we speak. A year ago, we were borrowing at approximately 0.43 per cent ...
How did the NSW gov “lose” $7 billion dollars? Even a brain dead goat couldn’t “lose” $7 billion dollars. This needs ICAC to investigate it - and not the NSW one, they have questions to answer too.