Mr Moohkey has likened the impact of inflation, higher borrowing costs and rising operating costs from greater public demand on services to a “hailstorm after a tsunami” triggered by the former Perrottet government’s spending programs.
“The declining return to work rates which took place over a very long period of time has also meant the state has had to outlay more than it would have otherwise. The $2.5 billion jump in insurance liabilities is also driven by property damage claims from the March 2022 floods, increased child abuse reporting and medical indemnity claims.
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