Budget: $2.3bn for WA infrastructure

Written on the 7 May 2017

The Turnbull government has conceded Perth Freight Link will not be built during the McGowan Labor government's current four-year term in Western Australia, agreeing instead to reallocate $1.2 billion to other infrastructure projects.

Finance Minister Mathias Cormann said the $1.2bn came alongside a $226m GST top-up payment to WA for the coming financial year in order to ensure that WA's share of the GST is effectively maintained at the 2014-15 level, and about $211m for other jointly-funded projects in Western Australia.

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The ASX200 had a positive week and ended 0.8% higher. The Aussie dollar drifted lower down 0.7%, oil was hit hard on higher US stockpiles and production, gold drifted lower on the much anticipated US interest rate move and iron ore continued south. As expected the Reserve Bank of Australia kept interest rates on hold and maintained a neutral sta...

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