Bankruptcies Soar Nationally as More Youth, Families Affected in WA

Australians are being hit hard by bankruptcy, as more Australians declared bankruptcy in the last financial year. More than 32.350 Australians declared bankruptcy during the 2017-18 financial year according to a report by data registry and analytics business illion on Tuesday, with a 4 per cent increase across the nation over the last 12 months.…

Overseas Investment Meetings To Help WA’s Budget Saving Measures

Briefings between State and Overseas investors are set to take place next week, with the Ben Wyatt, State Treasurer, visiting Europe and North America for meetings with potential and current investors. The State’s prospective borrowing program will be discussed, as part of the Government’s commitment to budget repair and long term economic prospects. Total borrowings…

State Budget Boosted With Faster Than Expected Improvement

WA’s State Budget is experiencing a rapid improvement with as a result of lower spending and larger payments from government enterprises. Treasury’s Quarterly Financial Results Report reveals general government sector recorded an operating deficit of $701 million for six months until December 31 2017, $744 million lower than the same period last year. “It’s already…

Government Claims Budget Recovering Despite Increasing Deficit

The McGowan Government believes WA’s finances are “heading in the right direction” despite a rise in WA’s budget deficit and debt. Treasurer Ben Wyatt said while revealing the Mid-year Review on Wednesday that the review was a result of “responsible financial management”, reflecting the government’s aim of containing spending. WA’s finances improved by $568 million…

Shorten announces $1.6 billion GST pledge

Federal Opposition Leader Bill Shorten announced his plan for a “Fair Share for WA Fund”, which would see $1.6 billion invested into Australia to make up for the GST shortfall. Currently Western Australia’s share of the GST is sitting at 34.4 cents per dollar of GST raised in the state, the proposed fund would give…

WA Still has the Weakest Performing Economy in the Country

Western Australia still has the worst performing economy in the country, according to a recent report from CommSec. The quarterly report analyses eight key economic factors for each state: economic growth; retail spending; equipment investment; unemployment; construction work done; population growth; housing finance and dwelling commencements. CommSec Economist Craig James said WA’s performance reflects the…

WA Liberal Nationals Decision Labelled “Fiscal Vandalism”

The WA Liberal and Nationals parties voted to scrap their own savings measures yesterday, in a move WA Labor is labelling “fiscal vandalism.” Last year, the Liberal National Government decided to discontinue the motor vehicle licensing concessions granted to local government authorities. Local government authorities would also no longer be exempt from paying stamp duty…

WA Households Face Fee Hikes to Aid Budget Repair

Western Australians will be hit with higher bills, with Treasurer Ben Wyatt announcing a range of increased fees and charges for households. The bump up in costs will result in a 7.7 per cent  hike across the board from July 1, expecting Western Australians to share the burden of repairing the State Budget. Electricity will…

Shorten Claims Class Unfairness in Budget Reply

Bill Shorten has criticised the Federal Government’s budget, claiming its policies “fails the fairness test” in his budget reply speech. The Opposition leader said the Coalition’s budget released on Tuesday did nothing for families’ cost of living and was a budget of big government, higher tax and more debt. Mr Shorten used the speech to…

Public Sector Face Overhaul As McGowan Identify Savings

The McGowan Government have announced major changes to the public sector with aims to improve efficiency. This is the biggest overhaul to the public sector in decades, as the Labor Government start to follow through on some of their pre-election promises. Premier McGowan says, “I’m ushering in new leadership, new departmental mandates and new opportunities…