A controversial $15 billion fund set up by Dominic Perrottet to pay down debt could be in line for changes under the NSW Minns Government.
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 ...
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