The New South Wales premier, Dominic Perrottet, has declared he will not sell off any more of the state’s assets and conceded the government will go deeper into debt to pay for infrastructure if re-elected at the coming election.
Speaking in western Sydney on Tuesday, the premier ruled out introducing new taxes and said the state’s debt position would be “sustainable and manageable” while it increased to pay for the state’s ballooning infrastructure build.
Perrottet has in recent months said the government had “no plans” to further privatise assets including Sydney Water but on Tuesday went further.
“We are not privatising assets,” he said.
The NSW opposition has already ruled out further privatisations and has been critical of the government’s record on the issue.
A returned Coalition government would continue to invest in residents by building roads, tunnels and metros as part of its “fully funded infrastructure pipeline of $116bn” – about 60% of which was paid for by debt and 40% from elsewhere, Perrottet said.
The pipeline does not include projects such as the raising of the Warragamba Dam wall or other major road investments pledged in recent weeks in the lead-up to the 25 March poll.
Perrottet agreed the government would go further into debt and said it was part of getting the books back to surplus.
“We have an incredibly manageable and sustainable debt position here in NSW. We always deal with our debt position as we move through the budget process,” he said.
“When it comes to getting the budget back in the black, as the treasurer knows, that’s the first starting point of surpluses –[that] you start to invest in infrastructure. We have a pathway back to surplus.”
The premier also denied that cash grants and voucher schemes would worsen inflation.
Labor’s treasury spokesperson, Daniel Mookey, said he did not believe the premier’s pledge to retain the state’s remaining assets.
“The only way the premier can pay for his unfunded infrastructure promises is to put Sydney Water and Essential Energy on the chopping block,” he said.
“Privatisation is costing NSW families [who] are right now funding the super profits of privately owned electricity companies. They are also paying record tolls for private motorways.”
With less than a month until the state election, two polls released this week indicated Labor’s lead was diminishing and the Coalition was regaining ground, suggesting a hung parliament as a real possibility.
