State Debt

By Greg Warren MP

13 February 2025

Mr GREG WARREN (Campbelltown) (15:27): I am delighted to make a contribution to debate on the motion of the member for Oatley. I thank him for bringing it to the House so we can yet again display the incompetence of those opposite. They were the architects of the debt, deficit and destruction left to Labor when it came to government in March 2023. The previous Government left a deficit in excess of $180 billion. They left the legacy of those three Ds—debt, deficit and destruction—but they will also be remembered for selling, slashing and sacking. That is what they did to the public service. They sold off everything. I have said before, they would sell their own dog. The reality is, they sold off revenue-raising assets that we no longer have. But it got worse. They then went on a spending spree like a drunken sailor. The economy of a sub-Saharan country was in better shape than the New South Wales economy left to Labor. It was absolutely appalling.

The sad thing about all of this is that our local businesses and local families continue to pay the price. We have a very astute Treasurer and a very diligent and honest Premier, who is dealing with the New South Wales economy whilst also trying to deliver services that people need and deserve. Whether it is nurses, police or teachers, all of our Ministers and, indeed, the broader Government are focused on that, whilst we continue to navigate our way through debt recovery and getting the economy back on track. We know that if we do not get the budget right now, there will be long-term ramifications.

I have spoken to many stakeholders in my electorate, and they understand the simple fact of the legacy that we were left by members opposite. They have no credibility in this space at all. They are a bit like a scratch lottery ticket when it comes to the New South Wales economy. You pick up the ticket and think, "This is great." Then you scratch the surface and are terribly disappointed. But you do not have to scratch too far to find that disappointment, because the people of New South Wales—workers, families and everyone—are living it every day. Sadly, they are the ones suffering.

It might be an appropriate thing for the member for Oatley to bring this motion forward. He is a member who I know works very hard in his electorate. But the reality is that his motion is totally inconsistent with fact and, at best, leaves most of those facts out of the motion. The 2024-25 budget included $8.9 billion of targeted assistance, including toll relief, energy bill rebates, bulk-billing incentives and stamp duty concessions for people buying their first home. That assistance can make a real difference for families. I move:

That the motion be amended by omitting all words after "House", instead inserting:

(1)Notes that under the Minns Labor Government gross debt is projected to be $9 billion lower by June 2026 than was projected in the 2023 pre-election budget update;

(2)Notes the former Liberal-Nationals Government left New South Wales with the largest ever debt and budgeted with two biggest ever blowouts in the State's history;

(3)Recognises that the Minns Labor Government's investment in public sector wages is already delivering returns for the community by reducing teacher vacancies, boosting police recruitment and more; and

(4)Notes that the Minns Labor Government's responsible approach to financial management has delivered these public sector wage increases while also bringing down the State's deficit from $10.6 billion to $4.9 billion.

I urge the House to support the amendment and put credible facts back into this debate.