The spending promises of the major parties give a unique insight into the state of politics in NSW. Here are five things we have learnt from the policies announced so far:

1. Infrastructure rules

The 2015 state election is testament to how infrastructure now dominates state politics. Big infrastructure promises, and debate over how to fund them, have eclipsed most other campaign issues. The Coalition's plan to lease 49 per cent of the state's electricity distributors has underpinned an array of long-term infrastructure pledges. Labor's opposition to privatisation has been a cornerstone of its campaign but the party is still promising $10 billion in extra infrastructure spending.

2. Services play second fiddle

State election campaigns have traditionally been fought over health, education and law and order. But this time spending in those areas has been subdued. Labor's promises on day-to-day services and programs (that is not capital investment) only totals about $1.69 billion over the forward estimates. The Coalition's non-infrastructure pledges so far are about $1.88 billion. Both those totals are a tiny fraction of the $280 billion the state government expects to spend on its day to day activities between 2014-15 and 2017-18. Law and order has figured during the campaign but spending on it has been relatively modest.

3. The advantage of incumbency

The Coalition made the most of its incumbency with a detailed list of announcements on the upgrade of more than 60 hospital and health services over the next four years. The $5 billion program will be drawn from the state's capital works budget and not funded by privatisation of polls and wires. Labor promises for upgrading hospital infrastructure have been far more modest although it has outspent the Coalition on promises to improve day-to-day health services.

4. What about tax?

Taxation has hardly been raised during the election campaign. Labor has pledged reduce the taxes on the racing industry and will allow first home buyers to defer stamp duty payments. When the Coalition won government four years ago it ordered an audit of the state's finances. The report found a sweeping overhaul of the state's taxes would deliver a major economic boost. Despite the Coalition's preference for lower taxation, those recommendations have apparently been left on the shelf for another four years.

5. Big vision, no money

Both major parties have proposed at least one grand promise without much information about where the money will come from. This month Mike Baird unveiled an "historic" social housing fund which "aims to hit the $1 billion mark". But the announcement, which involves the business and community sectors, had few funding details. When Luke Foley announced his Badgerys Creek infrastructure plans he said rail infrastructure should connect the new airport with the existing network. But the plan was silent on how it would be paid for.