NSW to lose $117 million in GST funding this financial year
THE New South Wales government has hinted it will fight to protect its own budget after having a chunk of its funds slashed by the Federal Government.
There is no word yet on how it will hit regional parts of the state.
Thanks to the Federal mid-year budget producing $656 million less than hoped, NSW's GST funding from the Commonwealth will be slashed by $117 million this financial year.
From mid-2014 to mid-2017, it will lose an expected $416 million.
In total, from mid-2011 to mid-2015, NSW will now be grappling with $5.5 billion being cut from its budget.
NSW Treasurer Mike Baird said with the Federal Government looking to improve the national budget, he would "ensure the weight of that burden does not fall disproportionately on the shoulders of NSW citizens.