NSW election 2023: winners and losers from Labor’s NSW election victory – The Australian Financial Review

NSW election 2023: winners and losers from Labor's NSW election victory - The Australian Financial Review

Meanwhile, Labor promised $1.1 billion for road updates in the regions and Western Sydney, and $225 million for evacuation roads, bridges and levees in Western Sydney, as well as a push to build trains in NSW. The state’s transport department is grappling with a $1 billion blowout and a three-year delay in the construction of 29 regional trains by Spanish builder CAF.

Transurban: Some analysts said Labor’s road toll policy would benefit Transurban, as it could encourage additional use of toll roads once drivers breached the $60 cap and pave the way for higher revenue.

First home buyers: They will benefit from a scheme to remove stamp duty on properties up to $800,000 and discounted rate on properties up to $1 million. Meanwhile, Labor also flagged a build-to-rent pilot to increase rental supply on the NSW south coast and that it would outlaw evictions from rentals unless on “reasonable grounds”.

LOSER BUT A WINNER

Gaming industry: Mr Minns said Labor would introduce a 12-month cashless gaming trial from July 1, covering at least 500 poker machines in pubs, clubs, cities and regional areas. It will also ban financial donations from clubs, and reduce cash feed-in limits to $500 per machine for all new pokies, as well as banning external signage promoting gaming machines. Labor will also reduce the overall number of pokies in NSW – the highest of any state or territory – through new rules around trading machines. But the election of Labor means the industry escapes the Liberals’ planned widespread introduction of cashless gaming cards.

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LOSERS

Children: Dominic Perrottet pledged to set up a future fund to give every child in the state a head start for housing and education once they turn 18, which would have cost as much as $710 million a year from 2030 onwards.

A returned Coalition government would have created a trust account for every child in the state under 10, seeded with $400 of government money and bolstered with matching annual contributions of up to $400. Parental contributions would have been capped at $1000.

Centre for Independent Studies education director Glenn Fahey said evidence from Canada, where a similar scheme introduced in 2011 incentivised parents to put cash aside for their children’s tertiary education by rewarding them with matching contributions of 20 per cent, up to $500 a year, mostly benefited wealthy families even with means-testing.

Infrastructure industry: The Labor government has not supported plans for extensions to metro lines, the Northern Beaches road tunnel, or a proposed Blue Mountains tunnel.

The Coalition: With Mr Perrottet’s election loss, the Liberals have been ousted from government across the Australian mainland.

Source: afr.com

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