Wilson will take aim at the impact of capital gains tax changes on businesses and startups in a speech to the National Press Club. Follow updates liveGet our breaking news email, free app or daily news podcastThe NSW economy will grow less than expected next financial year amid rising inflation and the global oil shock, the state’s treasurer will warn ahead of next month’s budget.In a speech today ahead of the 23 June state budget, Daniel Mookhey will warn that NSW will only avoid a recession in 2026-27 because of the number of renewable energy projects now under construction in the state.Attentive budget watchers will notice a slowdown more pronounced in NSW than elsewhere in the federation. The simple reason is that higher inflation has led to higher interest rates which is lowering consumption spending; the point of the [Reserve Bank of Australia’s] increased interest rates. But the more complicated explanation is this: higher interest rates hurt working Australians in every state, but they hurt working Australians more in this state. Continue reading…
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