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> 2007-2008 Budget, Premier's Media Release
Ben
post May 12 2007, 07:35 AM
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Western Australia’s thriving economy was building an even brighter future for a State that was already the envy of the nation, Premier Alan Carpenter said today.

“The people of Western Australia have worked tirelessly to make our economy the powerhouse of the country,” Mr Carpenter said.

“They have proven that despite years of Federal neglect for many of our crucial infrastructure programs, they have the drive to bring us to economic levels never before achieved in this State.

“These are amazing achievements which have allowed us as a Government to make the right decisions for our future.”

The Premier said Labor’s sound economic credentials were now also etched in stone having delivered seven successive Budgets in the black, while $2.4billion in Government debt had been slashed.

Key features of the 2007-08 Budget included a massive tax relief package, a record capital works program and multi-billion dollar packages to fund a major new hospital and a second water source for Perth.

Mr Carpenter said tax relief worth $2.1billion over the next four years far exceeded the pre-Budget demands made by the Opposition and included Australia’s most generous cuts to stamp duty for first-home buyers.

As well, the Premier said the Government would put $1.09billion from the Budget surplus into a special future fund to cover the cost of the new state-of-the-art Fiona Stanley Hospital.

He said interest earned from the fund would cover any variations in the cost.

“Last year we funded the Perth-to-Mandurah railway - paid for in full,” Mr Carpenter said.

“This year, it is the Fiona Stanley Hospital.

“That means we have funded the two biggest capital works projects ever undertaken in this State in successive Budgets.

“Clearly, we are building a better Western Australia for the future.”

As well, the Premier said the Government had also recognised the urgent need for new water sources and had set aside $750million to help fund the next major source for Perth.

And as a part of the Government’s long-term vision to ensure Western Australia remained a flourishing State, the general Government sector was now net-debt free.

Mr Carpenter said the 2007-2008 Budget highlights included:
a tax relief package worth $2.1billion over the next four years that included stamp duty cuts for first home buyers - the most generous cuts in the nation;
record capital works program of $5.8billion with an estimated $21.6billion to be spent over the next four years, including $750million on the development of new water sources;
$1.09billion from the 2006-07 surplus to be used to fund the Fiona Stanley Hospital in Perth’s southern suburbs;
the State’s general Government sector remained net debt-free;
no increases in household electricity charges, with increases in household fees and charges kept below inflation;
an additional $417.3million to be spent over the next four years to make housing in Western Australia more affordable;
more than $101million to be spent over the next five years to address climate change;
a new Department for Child Protection in line with recommendations of the Ford Review of the Department for Community Development; and
addressing the skill shortage with $62.5million to deliver new and upgraded training facilities, equipment and programs to attract new people to trades.
“This is a Budget for all Western Australians,” Mr Carpenter said.

“We are making decisions today that will ensure our tomorrow is even brighter.”

Premier's office - 9222 9475


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Ben, Skype "Perth-", Western Australia
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