Fiscal discipline helping with budget repair

Written on the 1 March 2018

The McGowan Government's progress in returning the State's finances to a more sustainable position is clearly evident in the financial results for the first six months of 2017-18.

 

The general government sector recorded an operating deficit of $701 million for the six months to December 31, 2017. This outcome is $744 million lower than the $1.4 billion operating deficit reported for the same period last year under the previous government.

 

This indicates that the sector is tracking towards a much improved outcome relative to the full year projected deficit of $2.6 billion, contained in the December 2017 Mid-year Review.

 

The lower deficit outcome is driven by an exceptionally low rate of expense growth, with expenses increasing by just 0.3 per cent (or $45 million) relative to the first six months of 2016-17.

 

The State's revenue base is also showing further signs of improvement, with general government revenue increasing by six per cent for the first six months of 2017-18 relative to the same period last year.

 

This is despite tax collections, such as land tax revenue, being lower relative to this time last year.

 

The growth has been largely supported by higher dividend income (up $558 million) from Government Trading Enterprises, as a result of the suite of efficiency measures introduced as part of the 2017-18 Budget.

 

The December 2017 report is available at http://www.treasury.wa.gov.au

Upcoming Events

Latest news

Careers Expo 2018 - an Outstanding Success


The Careers Week and Careers Expo 2018 were an outstanding success. School students and parents from across the West Kimberley attended various sessions presented by tertiary education providers, resources companies, and the army as well as workplace tour opportunities in and around Broome.  The feedback from students, parents and tea...

Read More

Articles via RSS rss

Sign Up for the latest news & events

Does your business attract, recruit and retain staff by offering employment or work experience to young Aboriginal employees?
CLICK HERE to become a Working Together Employer of Choice.

 

Members

We are located at:

6 Napier Tce
(behind the Westpac bank)
Broome
WA 6725

Chamber office hours

Monday: 10am - 3pm
Tuesday: 10am - 2pm
Wednesday: 10am - 3pm
Thursday: 10am - 2pm
Friday: 10am - 2pm

Please ring for an appointment

Phone

(08) 9193 5553

After Hours

0410 967 509