NSW Economy in Freefall? Sloane Slams Minns Government’s Fiscal Record

New South Wales Opposition Leader Kellie Sloane has launched a blistering attack on the Minns Labor government, accusing it of mismanaging the state’s finances and pushing the economy from a position of national leadership to the bottom of the pack. In a pointed statement, Sloane claimed the administration is driving up taxes while simultaneously shrinking economic output, a combination she describes as “reckless” and “unprecedented” for Australia’s most populous state.

“When we look at the data, the picture is clear: New South Wales has gone from first to worst under this government,” Sloane said, arguing that the state’s once-enviable economic standing has been eroded by a “tax-and-spend” agenda. She specifically criticised recent budget measures that she says have increased the cost of living for households and businesses, warning that higher taxes are choking investment and job creation.

The opposition leader’s comments come as fresh Treasury figures show slowed economic growth in NSW compared to other states. Critics of the Minns administration point to rising land taxes, payroll tax changes, and red tape as culprits, while supporters argue the government is investing in essential services like health and education after years of underfunding.

Political analysts note that Sloane’s rhetoric is a strategic push to frame the upcoming election as a referendum on economic competence. With Sydney’s property market cooling and business confidence wavering, the opposition is betting that voters will punish a government they see as heavy-handed. However, Premier Chris Minns has fired back, calling the claims “alarmist” and insisting his team is stabilizing the state’s finances after the COVID-19 pandemic and natural disasters.

As the debate heats up, all eyes will be on the next quarterly economic snapshot to see who has the numbers—and the narrative—on their side.