Treasurer Daniel Mookhey's second budget revealed a $3.6 billion debt for 2024-25, after the loss of $11.9 billion in GST revenue from the federal government.

Deficits are also forecast for the following six years, with a $2.5 billion deficit expected in 2025-26, $2.4 billion in 2026-27 and $1.5 billion in 2027-28.

The state government promised it deliver up to 30,000 well-located homes, close to infrastructure and transport, with amenities and work opportunities, with surplus land to be made available for housing over the next four years.

There was little news on how the state government will deliver on its promise of 8400 new social homes, including 6200 new homes with half set aside for victim-survivors of domestic violence.

About $200 million has been set aside for key health worker accommodation across rural and regional areas of the state.

The State government will spend about $8.7bn in the next financial year on the cost of living support measures, including $10,000 grants for eligible first home buyers, $350 rebates for the electricity bills of concession card holders as well as a one-off relief payment of up to $300 to go towards the energy bills of all households.

Shellharbour Hospital

The estimated total cost of the Shellharbour Hospital redevelopment will cost $60 million more than originally planned due to inflation and increasing construction costs.

$52.5 million has been allocated in this year's budget for the total Shellharbour project, with $564.7 million to be spent over the next four years. The hospital may in 2027.

Wollongong Hospital

Wollongong Hospital's emergency department will get more funds for people needing short-term treatment, under a $480.7 million package.

New improvements at Wollongong include $7.85 million for medical imaging services to provide a new CT scanner and MRI, and $2 million to improve radiation treatment services for cancer patients.

The government will invest $21.3 million in The Waminda’s Gudjaga Gunyahlamaj Birth Centre and Community Hub.

Calderwood Public School

Residents in the rapidly growing suburbs in the southern Illawarra will have new schools.

The government has committed $1.4 billion over the years for regional schools, including the accelerated delivery of a new public school at Calderwood.

Also announced last year, Dapto High School will also receive a new covered outdoor learning area (with $1.8 million allocated in 2024-25) and Minnamurra Public School will have a new nature playground funded.

There will also be funding for six new public preschools to be delivered in the Illawarra by 2027, at Berkeley West, Cringila, Lake Heights, Hayes Park, Lake Illawarra South, and Barrack Heights.

Roads and Transport

The NSW Government has committed $500,000 to investigate the transport infrastructure to support the proposed redevelopment of BlueScope's surplus industrial land at Port Kembla.

The South Coast line will also be investigated to see what stretches need to be fixed. NSW Tangara trains will remain on the tracks until the mid-2030s.

There is also 147.2 million for Appin Road Upgrades (NSW and Australian Government funded), and money ($89.3 million over four years) for planning a Picton Road upgrade.

There's also planning money for a Picton Bypass ($18.3 million), that would provide an alternative route for heavy vehicles by linking Thirlmere and Tahmoor with the Hume Motorway via Picton Road.

Mount Ousley Interchange

Planning and construction continues with the spend for 2023-24 to be $70.9 million and $293.8 million over the next four years. The project is jointly funded by the Australian Government, which has increased its share of funding by $72 million.

Emergency Services

The NSW SES headquarters in Wollongong will get funding for its response to the 2022 Flood Inquiry, with $2 million allocated this year, and $14.9 million to be spent over the next 10 years. There is also just under $1 million for the SES to look at Smart Flood and Storm Intelligence Sensing.

Recreation

As in the previous two years, $80.4m has been set aside for the Illawarra Mountain biking network and the Great Southern Walk (along with the Gardens of Stone Walk). With $66.2 million to be spent between now and 2026-27.