Treasurer Rita Saffioti has used her first budget to address key issues facing the state, with cost-of-living relief and measures to bolster the critical housing shortage at its heart.
The budget was as to be expected ahead of the 2025 election, with struggling households handballed another electricity credit and measures designed to alleviate pressures in the housing market being exacerbated by record high migration.
The state is tipped to book its sixth consecutive operating surplus this year, which is forecast to reach $3.2 billion.
The surplus will drop back to $2.6 billion in 2024-25, half the windfall recorded under her predecessor Mark McGowan’s budgets, whose tenure was marked by sky-high iron ore prices.
However, net debt is forecast to climb to $40 billion by 2028.
And the eye-watering blowouts continued on the WA Labor government’s flagship Metronet projects, the cost of which has risen another $700 million this financial year – $254 million of which will have to be met by the state.
But in delivering her first budget, Saffioti said the state’s conservative financial management had allowed it to support those doing it tough while investing in future infrastructure without fuelling inflation — and there was something for everyone.
The Chamber of Commerce and Industry WA has been among the most critical of the state’s budget, claiming the budget documents were “all glitter and no gold” as its hopes of a payroll tax system overhaul were dashed.
The state is expected to reap $5.8 billion in payroll tax next financial year, with WA businesses paying 33 per cent more per staff member than the national average.
The state’s Conservation Council wasn’t too happy either, concluding the budget did little to address WA’s role in the climate crisis.
So, how did you fare?