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Chris Minns has been skewered as "mathematically challenged" after taking aim at Victoria's GST share.
State Treasurer Tim Pallas roasted the NSW premier this morning for suggesting Victoria was a "welfare state".
"He might not be the sharpest tool in the shed, but he is a tool," said Pallas.
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"(Minns) has totally got the GST breakup wrong. Victorians are paying more in GST than they're receiving."
In 2024/25, Australians will fork out a combined $89.4 billion in GST.
That money is collected by the Commonwealth and shared across the country.
Of that, Victoria will receive $22.2 billion plus a $1.5 billion top-up payment for a total of $23.7 billion. That's $3.8 billion more than it received in 2023/24.
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New South Wales will pull in a total of $26.1 billion but that's $187 million less than this financial year.
Minns claims "Victoria's gain is New South Wales' loss".
"When the states sit down to eat, NSW can't eat last every single time. Let's just split the GST based on headcount. That is the only fair way."
But population is already taken into account when Australia's GST split is calculated.
Mining royalties, land value, urban density and land sales are also taken into account to ensure states with weaker economies aren't disadvantaged.
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South Australia, Tasmania, the ACT and the Northern Territory have historically received more money than they pay in GST.
New South Wales, Victoria, WA and (now) Queensland have traditionally received less than what they give.
Compared to the amount raised by each state, Victoria has received less than New South Wales in the financial years ending 2022, 2023 and 2024.
Even with a $3.8 billion increase in 2024/25, Victoria is still receiving just 96.5 per cent of its GST back.
Victoria's Assistant Treasurer, Danny Pearson, says Minns "clearly doesn't understand how the GST works".
He went on to insinuate Minns was still learning as an "L-plate" premier.
South Australian Premier Peter Malinauskas said the tit-for-tat fighting between NSW and Victoria was "unbecoming".
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"This is a phony argument between NSW and Victoria," said Malinauskas.
"The problem is that WA has got this cute deal that every economist realises is contrary to the national interest.
"If the federal government – Labor or Liberal – want to make WA richer and richer and richer and richer, that's fine. But it can't be at the expense of other states including South Australia."
In 2022/23, a 70 per cent "floor" was established for the resource-rich Western Australia, ensuring the state gets back at least 70c on every dollar it pays in GST.
That will increase to 75 per cent in 2024/25.
The Commonwealth has been "topping up" payments to other states and territories under a No Worse Off Guarantee to compensate but that deal is set to expire in 2029/30.
Pallas has called for that to be extended in perpetuity before firing a final parting shot at Chris Minns.
"I think it's just so Sydney for the premier of New South Wales to scream outrage about the fact that we're coming close to getting a reasonable GST share," he said.
"It demeans him. It belittles his state.
"I'm not gonna sit back and have this state rubbished and misrepresented by somebody who clearly can't read a balance sheet."
