NSW Treasurer Mike Baird. Picture: Nic Walker
NSW Treasurer Mike Baird says the state will lose almost $1 billion over four years as a result of the federal government's mid-year economic review.
Treasurer Wayne Swan yesterday updated the May 2012/13 budget, saying the government had lowered its forecast for growth and would make $16.4 billion in savings over four years to return the budget to surplus.
Mr Baird said NSW would now have to find an extra $900 million to make up the shortfall.
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He said education, health and service delivery would be hit.
"Whatever way the federal treasurer tries to spin it, over the next four years what he has taken away is over $900 million from NSW," he said.
"Undoubtedly it's going to have an impact on the delivery of services over the next four years."
He said the state government had not been consulted about the cuts, and it would now go through the Mid Year Economic And Fiscal Revue (MYEFO) "line by line" to consider how to plug shortfalls. AAP
