The Executive Director of the Business Council of Australia, Mr David Buckingham, today released the following statement on the New South Wales State Budget:

“Today’s New South Wales Budget hits a number of the key priorities.

“Specifically, we welcome the significant investment in infrastructure and people, the early phased removal of the Debits Tax and the abolition of the $100 million a year levy on electricity suppliers.

“Given the recent rises in the wholesale price of electricity, it is appropriate that the distribution levy be removed.

“The Debits Tax and other tax reduction initiatives continue the long overdue reform of state tax regimes, and should be followed up by other states.

“We also strongly support the increased expenditure on education, which is a key priority for the BCA and which recognises that the ingenuity and know-how of our people will be a major sustainable source of competitive advantage for Australia.

“Finally, we endorse the increased expenditure on Sydney’s transport infrastructure. Such expenditure is critical to national prosperity.”