Aug 11, 2026 – 8.00pmNSW and Queensland face the prospect of higher borrowing costs and credit rating downgrades, driven by a slumping housing market after the federal government’s tax changes that hit state revenue.The double blow to state finances follows an aggressive interest rate cycle from the Reserve Bank of Australia to contain inflation, while tax changes in the May federal budget, including a crackdown on negative gearing and capital gains tax, have added further pressure on the economy.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
NSW and Queensland on verge of rating cut after hit to stamp duty
RBC Capital Markets says there is more than a 50 per cent chance that both states will lose their AA+ credit rating before Christmas.
100 words~1 min read
