All winners and losers of the NSW budget for 2022

The New South Wales government may have more than $ 11 billion in the hole, but this year’s budget will involve huge investments in women, children and first-time home buyers in the state.

State Treasurer Matt Kean has delivered his first budget that includes large investments to boost women’s opportunities, major education reforms and ease the burden of buying your first home in a daunting real estate market.

These are the winners and losers of the 2022 state budget.

NSW’s big 2022 budget has created many winners and some losers. (new)

The state government has invested $ 16.5 billion over the next 10 years to increase women’s participation in the workforce and better health opportunities.

The budget will increase relief for early childhood education fees and discounts of $ 4,000 per child in daycare to help women get back to work.

The government will help open more daycares and places across the state.

Women’s health is also a priority with funding boosts for affordable IVF treatments, menopause centers and postnatal mental health.

NSW will introduce a universal preschool year for four-year-olds in 2030. (AAP)

New schools will be built across the state and Sydney’s regional and western schools will be upgraded with a $ 1.6 billion investment in the education system.

As a sweetener for families with school-age children, the government will give $ 150 vouchers to each elementary or high school child in the state.

In a major education reform, NSW will introduce a universal preschool year for four-year-olds in 2030.

The government will give $ 150 vouchers to each elementary or high school child in the state. (new)

Nine west Sydney public schools will be modernized to include digital facilities and more teaching spaces under the government’s WestInvest funding program.

Public transportation is also gaining momentum with more than $ 200 million invested to complete the first two stages of Parramatta’s long-awaited light rail.

More than $ 12 billion has also been earmarked for the construction of the Sydney Metro West, which will be an underground train tunnel connecting Parramatta and the Sydney CBD.

Toll relief will also be available for West Sydney residents with a 40% cash discount for every dollar spent over $ 375. The toll bonus scheme will eventually replace the existing registration relief scheme.

The NSW government has taken a major step towards phasing out the stamp duty by announcing the optional annual property tax instead of paying the lump sum.

For single parents, older singles, front-line workers and first-time home buyers, there will be a two-year trial of a shared equity plan.

A record $ 5.5 billion has been invested in the police force to improve police stations, recruit more officers and new training programs.

It comes when the state police force tackles the growing gang crime in the west of the city with this investment that reflects the government’s desire to eliminate violent organized crime.

The centerpiece of the NSW budget was the elimination of the stamp duty for first-time home buyers, a measure that will save thousands of people on upfront costs. (new)

Thousands of paramedics will be hired and new ambulance stations will be built across the state.

Improving palliative care is also gaining momentum to improve end-of-life care, including more staff, new dedicated palliative care units, and statewide renovation of existing units.

There have been significant delays across the state for elective surgeries following the COVID-19 pandemic, and in this budget, the government has invested funds to speed up procedures.

Mental health has also received a $ 2.9 billion mention for suicide prevention.

Thousands of new paramedics will be trained to relieve stress on the state’s health system. (new)

After multiple strikes in the public sector, the government has only planned a three per cent pay rise for workers.

The government has already boasted of paying $ 3,000 to front-line workers, but the industry has already claimed that this is not going far enough.

Kean has defended the pay rise as “generous” even though unions are continually calling for a three-percent increase.

Online betting companies are big losers this year as the government raises gambling taxes by 15 percent.

It is expected to generate an additional $ 740 million in revenue for the government, but it will be a big toll for online betting companies.

The land tax for foreign investors will double to four percent annually.

Again, an important source of income for the government, but a great cost for any foreign investor who wants to buy in NSW.

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