Australia news live: Tim Wilson accuses Labor of ‘bad faith budget’; one dead and four injured in Sydney shooting

The NSW economy will grow less than expected next financial year amid rising inflation and the global oil shock, the state’s treasurer will warn ahead of next month’s budget.

Australia news live: Tim Wilson accuses Labor of ‘bad faith budget’; one dead and four injured in Sydney shooting. The NSW economy will grow less than expected next financial year amid rising inflation and the global oil shock, the state’s treasurer will warn ahead of next month’s budget. In a speech today ahead of the 23 June state budget, Daniel Mookhey will warn that NSW will only avoid a recession in 2026-27 because of the number of renewable energy projects now under construction in the state. Prompted by the conflict in the Middle East, he has released treasury forecasts earlier than usual, which show the economy will grow by 1% next financial year, less than the 2.5% predicted at a mid-year review in December. The NSW treasurer, Daniel Mookhey. Photograph: Mick Tsikas/AAP Mookhey has previously flagged this year’s budget will invol...