The NSW treasurer will be called on to explain a $1 billion mistake in the state's finances. Source: AAP
NSW Treasurer Mike Baird has rubbished claims he is covering up details of a billion-dollar budget blunder after refusing to immediately release 37 mistakes uncovered by an audit.
Mr Baird clashed repeatedly with Labor MPs when he appeared at a supplementary budget estimates hearing on Monday, where he had been called to explain a $1 billion error in the 2011-12 accounts.
In a major embarrassment for the state government, Auditor-General Peter Achterstraat last month found the deficit of $337 million announced in this year's budget should in fact be a surplus of $680 million.
The billion-dollar turnaround was attributed to 37 mistakes - errors in spreadsheets, data entry, end-of-year accruals and reconciliation processes.
Despite being challenged repeatedly by Labor and Greens MPs to detail the 37 mistakes, Mr Baird said he would provide the auditor-general's list when each government department had responded to his findings.
"Why are you covering this up?" Labor's Walt Secord asked during the fractious two-hour hearing.
"We're not covering anything up," Mr Baird replied.
"We're not hiding anything. We're not on a witch-hunt. I'm about fixing the problem."
He said every department had been given a chance to respond.
"They are coming back at the end of this month. So you'll have the information. Don't panic."
Mr Baird's refusal to list the errors, and name the departments responsible, was "absolutely appalling", Labor's Greg Donnelly said.
Mr Achterstraat has agreed to review the upcoming budget half-year review and 2013-14 state budget, while Mr Baird has promised to appoint senior financial experts to fix the budget blunders.
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