How NSW Treasury manage the NSW budget

How we manage the state's budget

Our role is to manage the state’s finances to best support the NSW economy, we want to make sure NSW will always be a great place to live and work. We are guided by the Premier’s Priorities and State Priorities.  

We advise Government on the state’s fiscal and economic position and give decision makers evidence for policy development.

We lead financial management across the NSW Government and give financial and commercial advice to government to achieve better value-for-money for taxpayers.

At a national level, we provide advice and analysis to Government to make sure NSW gets its fair share of federal funding in GST payments and other intergovernmental funding arrangements.

Our fiscal strategy

We manage the finances of NSW in line with the legislation set out in the Fiscal Responsibility Act 2012 (FRA 2012).

The FRA 2012 created the framework for fiscal responsibility and strategy needed to protect the state’s triple-A credit rating and service delivery to the people of NSW.

The FRA 2012 is supported by 2 fiscal targets:

• keeping expense growth below long-term revenue growth
• removing unfunded super liabilities by 2030.

The FRA 2012 is also supported by 3 principles:

• responsible and sustainable spending, taxation and investment
• effective financial and asset management
• achieving intergenerational equity.

The annual NSW State Budget

Each year, we prepare the NSW Budget, which outlines the government’s revenue and expenses for the coming year, gives an overview of the state economy, and details the priorities the government will deliver.

You can access the current financial year’s budget papers and related information at NSW Budget. Budget papers from previous years (1988-89 onwards) are also available from the Budget Archives.

Half-Yearly Review

The NSW Treasurer releases to the public a Half-Yearly Review in December each year. 

This statement includes:

• revised projections for the current financial year and an explanation of any significant variation in those revised
• projections from the original budget time projections
• revised forward estimates, for major aggregates, over three years
• the latest economic projections for the current financial year and an explanation of any significant variation
• from the budget time projections contained in the Budget Papers
• the state’s finances.

You can find the latest Half-Yearly Review at NSW Budget.