New South Wales Premier Nathan Rees says he will not be raising taxes to fix the state’s economic woes, but has labelled government departments “absolutely ripe for reform”. Mr Rees’s new cabinet team will tomorrow be briefed on the grim economic outlook that has put the state’s triple-A credit rating at risk.

The New South Wales Premier has revealed his new cabinet, declaring that the “soap opera is over”. As tipped, John Della Bosca has returned, along with right faction powerbroker Joe Tripodi. Frank Sartor and Michael Costa have been dumped, while Reba Meagher withdrew from contention last night before being pushed out.