Economic recovery outpacing forecasts

Economic growth is forecast to improve to 2 ¾ percent by 2023-24. The NSW Government’s sensible approach to restrictions, world-leading testing and targeted stimulus support measures, have enabled the State to avoid the health and economic catastrophe experienced in other countries.

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Jobs recovery ahead of expectations

The unemployment rate eases to pre-pandemic levels. Through January 2021, NSW has recovered over 80 percent (220,183) of aggregate jobs lost during the peak of the pandemic — and there are distinct differences in the job market.

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$640 million in small business support grants

The NSW Government is continuing to deliver on its record stimulus spending to support the economic recovery, job creation and boost confidence in the short term

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Safe and effective vaccination program commences

On Monday 22 February, the rollout of the Pfizer vaccine began, with frontline workers amongst the first to receive the vaccine and the rollout for the general population commencing in mid-2021.

 

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Support for Northern Beaches small businesses

Hardship Grants for small businesses affected by the COVID-19 lockdown including improved access to existing small business support, including mental health support, mediation services and the Business Connect program.

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Property tax reform

Proposed property tax reforms could inject $11 billion (over four years) into the economy.

 

Outcome budgeting

What matters most are the outcomes achieved for the people of NSW.

Learn more about outcome budgeting