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…

Perth City Budget Caps Rate Revenue At 1.5%

The Annual 2017/2018 Annual Budget was passed at a Council Meeting yesterday. The City of Perth will reduce operating expenditure by $4.4 million (2.3%), enabling it to cap this year’s overall rate revenue increase at 1.5 per cent. “We’ve managed to keep our rates at the level of Consumer Price Index (CPI), which is 1.5%,”…

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…

Barnett cuts 1200 jobs from Public Sector

Premier Barnett and Treasurer Troy Buswell together announced the bad news of public sector job cuts on Thursday morning. The decision comes after it’s been discovered that the state’s finance is not in a good shape. It’s expected the job cuts can save the government up to 2 billion dollars. The Treasurer has said that…