New South Wales Deficit to Force Spending Cuts, Australian Says

By Shani Raja

Nov. 8 (Bloomberg) -- Australia's News South Wales state faces a raft of spending cuts and higher taxes as its government grapples with a budget deficit of as much as A$1 billion ($672 million), the Weekend Australian reported.

The mini-budget on Nov. 11 will reveal a deficit of between A$900 million and A$1 billion, the paper said, citing state treasurer Eric Roozendaal, forcing spending cuts that may hinder the federal government's plans to revive the national economy.

To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.