Aaron Bunch Journalist with Australian Associated Press | Collection of published work | + 61 484 008 119 | abunch@aap.com.au
WA budget billions to hip-pocket relief and housing
WA’s budget posts a $3.2 billion surplus, as the government reveals measures that help families with the cost of living and housing, and grow the economy.
May 9, 2024
KEY POINTS IN THE WESTERN AUSTRALIAN BUDGET:
* A budget surplus of $3.2 billion this year, with a further $2.6 billion operating surplus in 2024-25.
* Total state debt to increase from $28.6 billion this year to $32.7 billion in 2024-25.
* The WA economy to grow by 1.75 per cent in the current financial year and 2.0 per cent in 2024/25
* Employment growth to slow from 3.75 per cent this year to 1.75 per cent next year
* A $762 million cost-of-living assistance package includes a $400 electricity credit for households and small businesses.
* A $1.1 billion housing package to help boost social housing by 5,000 homes and bolster homelessness services.
* Stamp duty exemption concession for first-home buyers increased to $450,000, with the concessions threshold pushed to $600,000.
* $1.8 billion will be invested to grow and diversify the economy, with $373 million for the state’s ports and $352 million for outdoor adventure tourism infrastructure.
* More than $3 billion to boost the state’s health system, with $1.2 billion to expand hospital services, $405 million for regional health services and $839 million on additional infrastructure.
* The financial blueprint will also see $1.3 billion invested in education and training, with $410 million to build new schools and $85 million to expand the construction workforce.