❓ Dr. Thomas questions the government's commitment to a debt reduction account, linked to GST relativity and iron ore prices, as promised in the 2017 election. The government acknowledges the iron ore price condition is met but the GST condition is not, rendering the commitment 'not applicable'.
AnsweredQoN 675Legislative Council
QuestionView source ↗
GST — PRICE RELATIVITY
675. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to the Labor Party
commitment in the 2017 election to deliver a debt reduction account that would
receive incoming funds when ''WA's GST relativity returns to
above 65� in the dollar and the iron ore price is more than $85 a tonne''.
(1) Is the WA GST
relativity above 65� and for how long has it been so?
(2) Is the iron
ore price more than $US85 a tonne and for how long has it been so?
(3) What incoming
funds have been credited to the debt reduction account since the GST relativity
passed 65� and the iron ore price exceeded $US85 a tonne?
(4) Has the
government kept its 2017 commitment from the former Labor shadow Treasurer that
''The key part of our strategy is to ensure that windfall gains, high
commodity prices, can never again come into the ordinary spend of government''?
675. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to the Labor Party
commitment in the 2017 election to deliver a debt reduction account that would
receive incoming funds when ''WA's GST relativity returns to
above 65� in the dollar and the iron ore price is more than $85 a tonne''.
(1) Is the WA GST
relativity above 65� and for how long has it been so?
(2) Is the iron
ore price more than $US85 a tonne and for how long has it been so?
(3) What incoming
funds have been credited to the debt reduction account since the GST relativity
passed 65� and the iron ore price exceeded $US85 a tonne?
(4) Has the
government kept its 2017 commitment from the former Labor shadow Treasurer that
''The key part of our strategy is to ensure that windfall gains, high
commodity prices, can never again come into the ordinary spend of government''?
AnswerView source ↗
I thank the member for some notice
of the question. I answer on behalf of the minister representing the Treasurer.
The following information has been provided by the Treasurer.
(1) No. Refer to
page 67 of the 2021–22 budget paper No 3.
(2) Yes. Since
the third quarter 2021–22.
(3) Refer to page
266 of the 2021–22 budget paper No 3.
(4) Not
applicable. The GST relativity is below 65 per cent.
of the question. I answer on behalf of the minister representing the Treasurer.
The following information has been provided by the Treasurer.
(1) No. Refer to
page 67 of the 2021–22 budget paper No 3.
(2) Yes. Since
the third quarter 2021–22.
(3) Refer to page
266 of the 2021–22 budget paper No 3.
(4) Not
applicable. The GST relativity is below 65 per cent.
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