Overview
- NSW Treasury cut next year’s growth forecast to 1% from 2.5%, blaming the Middle East war’s hit to oil prices and the inflation that followed.
- Treasurer Daniel Mookhey said larger home loans make the state more exposed to rate hikes, with a new NSW mortgage averaging about $873,000 versus $677,000 in Victoria.
- He released the downgrade a month before the June budget to flag that fuel‑driven inflation will linger even if fighting ends.
- Mookhey said a wave of renewable projects and major grid upgrades should keep the state out of recession.
- He pressed the NSW Liberal Party to back legislated net‑zero targets before the election, pointing to One Nation’s gains as a test of the state’s clean‑energy path.