Last Tuesday, NSW treasurer Daniel Mookhey handed down the NSW State Budget in a speech going for over forty minutes. We watched it so you don’t have to: here’s a breakdown of what the 2025-26 NSW state budget means for students.
Housing/Rent:
Australia’s very first Portable Rental Bonds Scheme will support renters by limiting rent increases to once a year, banning fees before entering a tenancy, and providing fee-free ways to pay rent. This will minutely aid students who rent, as they face increasingly high rent fees, high moving costs, and already struggle to balance work and university.
To aid the housing crisis, the NSW government will be fast tracking the building of over 5000 homes over the next five years. An already existing $450.0 million has been promised to making build-to-rent dwelling for essential workers, and the Budget adds to this with a $20.9 million investment into supporting regional councils in bringing forth infrastructure for new homes by funding interest on loans, as well as a $10.1 million investment into dealing with water issues that currently affect housing and development.
Whilst these investments will certainly aid the housing crisis, it will be years before the homes are built, and relief is felt. Further, the assistance for renters is minimal; students who are struggling to pay rent, study, and work, will potentially not feel a difference at all.
Cost-of-living:
In almost all wrap-ups of the Budget that I’ve seen, cost-of-living-help has been labelled as a loss. Minimal relief is offered, as the Minns government focuses on long-term projects as opposed to short-term relief. But here is a summary of what they’ve invested in:
As mentioned above, the Portable Rentals Bond Scheme will provide slight relief to renters, in that rent won’t be increased more than once a year, though in the midst of the housing and cost-of-living crisis, this will be a slight consolation.
A few support measures for households will be rolled out this financial year, with a $579.0 million invested into energy bill relief for households and small businesses, a $10,000 First Home Owner Grant for first home buyers of a newly built house, townhouse, apartment, unit or similar, purchased for below $600,000 or land and new house package below $750,000.
The Op Card Travel Cap, which for students with a concession card is currently at $25, continues. A $60 Weekly Toll Cap will mean that private motorists who spend between $60 and $400 on tolls weekly can claim rebates of up to $340 a week, each quarter through to 31 December this year.
Transport:
The 2025-26 NSW Budget has a profound emphasis on infrastructure expenditure, $118.3 Bn of it, to be precise. Of this amount, $55.6 Bn has been allocated to transport, due to be invested over the next four years to 2028-29. This outlay is particularly centred around improving the Sydney Metro services; the NSW government is dedicated to connecting the Sydney CBD with Greater Parramatta through the upcoming Sydney Metro West, allotting $10.8 Bn to the cause. In addition, the government is working on linking the Metro with six stations around the future Western Sydney International Airport, as well as delivering the final stage of the Sydney Metro City and Southwest, a branch that connects Sydenham to Bankstown. For students, these projects will serve as a crucial improvement to the efficiency and convenience of travel within Sydney, making the city more liveable and connected.
To further improve the efficacy of public transport in NSW, the government has invested $1.5 Bn in the Rail Service Improvement Program, a plan that aims to simplify and modernise the rail network. Its eventual goal is for customers to expect more frequent train services with shorter wait times and reduced crowding, as well as additional services on the Illawarra, Airport, and South Coast lines. This will be a key upgrade for students, as their travel becomes more streamlined and prompt.
Alongside the improvements to transport itself, the NSW government has assigned $429.5 Mn to be invested in the Safe, Accessible Transport Program. This is a scheme that involves delivering and developing upgrades to stations across NSW to comply with the Disability Standards for Accessible Public Transport, thus improving amenity, access, and safety for all public transport users. By broadening the inclusivity of public transport in NSW, the system will continue to evolve, thus steadily improving its efficiency.
Although all of these schemes seem prudent, it is important to note that they are involved under a four year long investment, so it will be a considerable time until the consequences are felt by the Australian public.
Authors note:
Following the emphasis on cost-of-living in the Federal Budget, NSW residents expected something similar from this Budget. Unfortunately, this was instead the biggest loss; new cost-of-living relief is slim to none as the treasurer prioritises fiscal responsibility over handouts.
However, it seems that while the immediate outlook for us isn’t as promising, the government is involved in long-term reform to raise living standards. The housing guarantee, transport expenditure, and health infrastructure investment, are all plans to raise the quality of life for the average Australian. With these all being long term projects, it’s inevitable to overlook their potential as we continue to grapple with a pressing inflated cost-of-living.
At its core, this Budget is largely for the advancement of society, rather than the assistance of the individual, but its anticipated impacts all point to an eventual advantage for NSW and its citizens.