❓ Mrs Guise asks about WA's economic growth forecast. Mr Ripper responds with optimistic forecasts from Econtech and details government infrastructure investments supporting growth, contrasting it with the Commonwealth's inaction.
AnsweredQoN 760Legislative Assembly
QuestionView source ↗
Will the Treasurer inform the house of the latest independent economic growth forecast for Western Australia and how the Gallop government is contributing to this strong position? Mr E.S. RIPPER
AnswerView source ↗
I thought I could hear the sounds of a V8 economy coming from the opposition. Indeed, the economy continues to be very strong, with record low unemployment, booming business investment and strong economic growth forecast. The latest forecast has come from Econtech Pty Ltd, which is an independent economic forecaster. It has released a report predicting that our economy will grow at 4.7 per cent in 2005-06. That is almost twice the national rate of 2.4 per cent. Mr T.R. Buswell : What are the drivers? Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr E.S. RIPPER replied: I thought I could hear the sounds of a V8 economy coming from the opposition. Indeed, the economy continues to be very strong, with record low unemployment, booming business investment and strong economic growth forecast. The latest forecast has come from Econtech Pty Ltd, which is an independent economic forecaster. It has released a report predicting that our economy will grow at 4.7 per cent in 2005-06. That is almost twice the national rate of 2.4 per cent. Mr T.R. Buswell : What are the drivers? Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
I thought I could hear the sounds of a V8 economy coming from the opposition. Indeed, the economy continues to be very strong, with record low unemployment, booming business investment and strong economic growth forecast. The latest forecast has come from Econtech Pty Ltd, which is an independent economic forecaster. It has released a report predicting that our economy will grow at 4.7 per cent in 2005-06. That is almost twice the national rate of 2.4 per cent. Mr T.R. Buswell : What are the drivers? Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr T.R. Buswell : What are the drivers? Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr E.S. RIPPER replied: I thought I could hear the sounds of a V8 economy coming from the opposition. Indeed, the economy continues to be very strong, with record low unemployment, booming business investment and strong economic growth forecast. The latest forecast has come from Econtech Pty Ltd, which is an independent economic forecaster. It has released a report predicting that our economy will grow at 4.7 per cent in 2005-06. That is almost twice the national rate of 2.4 per cent. Mr T.R. Buswell : What are the drivers? Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
I thought I could hear the sounds of a V8 economy coming from the opposition. Indeed, the economy continues to be very strong, with record low unemployment, booming business investment and strong economic growth forecast. The latest forecast has come from Econtech Pty Ltd, which is an independent economic forecaster. It has released a report predicting that our economy will grow at 4.7 per cent in 2005-06. That is almost twice the national rate of 2.4 per cent. Mr T.R. Buswell : What are the drivers? Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr T.R. Buswell : What are the drivers? Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr E.S. RIPPER : The Deputy Leader of the Opposition asks, “What are the drivers?” I will come to the drivers in a minute. One of the very strong drivers is this government’s commitment to infrastructure investment. However, I will detail that in just a minute. I want to finish describing Econtech’s forecast, because it is very optimistic. The forecast is for growth of 5.3 per cent in 2006-07, rising to a predicted economic growth of seven per cent in 2007-08. Is that not terribly disappointing news for members of the opposition? Econtech is predicting seven per cent economic growth in the financial year before the next election. The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
The Gallop government has been working very hard to secure this growth. As I have previously informed the Deputy Leader of the Opposition, we have made a huge investment in economic infrastructure to support that development. In particular, we have targeted export growth and the resources sector. Let me give the Deputy Leader of the Opposition a few examples: $108 million on the port enhancement at Geraldton, which is making possible the export of iron ore from Mt Gibson to China; $160 million worth of common user infrastructure to support industrial projects on the Burrup Peninsula; and $60 million to provide infrastructure in support of the Ravensthorpe nickel project. We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
We are not resting with infrastructure; we are also reforming our approvals process. In fact, we have allocated another $25 million, taking our total new investment in improved approvals processes to $50 million. We are not relying on the resources sector alone. We want a base load of work to continue for the industries that normally support the resources sector. That is why we are supporting shipbuilding and defence maintenance, and we have committed $168 million to develop the Australian Marine Complex in Henderson. We want those resource projects and defence projects to provide work for local firms. That is why we are spending $22 million to expand the high wide load corridor network between the metropolitan area and the state’s south west. We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
We are doing a lot of things to support our economic development, in particular to support our export performance and our resources sector. I have mentioned only a fraction of our capital works program. I need to remind people that the government will spend $15.8 billion on capital works over the next four years. Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr A.D. McRae : How much? Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Mr E.S. RIPPER : An amount of $15.8 billion, member for Riverton. That is what the state Labor government is doing to promote our economic development. That stands in stark contrast with what the commonwealth government is doing, which is just missing in action when it comes to Western Australian infrastructure. However, we are working hard to promote our economic growth and to keep it going to ensure prosperity for Western Australian businesses and jobs for Western Australian people. Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
Several members interjected. The SPEAKER : I call to order the Deputy Leader of the Opposition.
The SPEAKER : I call to order the Deputy Leader of the Opposition.
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