Fed: NSW borrowing exceeds its own level of prudent debt

AAP General News (Australia)
08-06-2007
Fed: NSW borrowing exceeds its own level of prudent debt

NSW Opposition Leader BARRY O'FARRELL says the state government's missed an opportunity
to reduce the cost of housing .. and is now embarking on a borrowing campaign that exceeds
its own level of prudent debt.

The prime minister's accused the states of putting upward pressure on interest rates
.. by borrowing 70 billion dollars over five years.

Mr O'FARRELL says it highlights the state's bad economic management and failure to
deliver infrastructure.







He says over the past 12 years .. NSW has received 15.7 billion dollars in revenue
.. over and above what was anticipated.

Mr O'FARRELL says this could have been used to deliver infrastructure and to reduce
the cost of the state's housing.

And he says the state's current borrowing schedule exceeds its own level of prudent
debt .. as defind by the fiscal resposibility act.

AAP RTV krc/hn/tm/bart

KEYWORD: ECONOMY O'FARRELL (SYDNEY)

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