❓ Treasurer Ripper defends the Carpenter government's economic management, highlighting budget surpluses, infrastructure investment, and debt reduction. He criticises the previous government's financial record and the opposition's current financial mentorship.
AnsweredQoN 147Legislative Assembly
QuestionView source ↗
CARPENTER GOVERNMENT - ECONOMIC MANAGEMENT
Will the Treasurer update the house on how the economic management of the Carpenter government has contributed to the state’s economic performance? Mr E.S. RIPPER
Will the Treasurer update the house on how the economic management of the Carpenter government has contributed to the state’s economic performance? Mr E.S. RIPPER
AnswerView source ↗
Yet more good economic and financial news was received today. We have had the public release of the monthly report of general government finances. That report again shows how prudent economic and financial management means that the state’s finances remain in great shape. An operating surplus of $1.5 billion was recorded for the eight months to the end of February. That is up from the operating surplus of $1.07 billion recorded during the same period a year earlier. That shows that the state’s economy is going from strength to strength. The resources sector and the property market are going very strongly indeed. That is good news for our community because those surpluses mean that we can invest in infrastructure while keeping debt low. We have record low debt under this government, with record capital works programs. This government has an $18.2 billion capital works program over the next four years. However, we can stay under our debt-to-revenue ratio cap of 47 per cent and keep the state’s AAA credit rating. Moreover, we can pay off debt. That is what we have been doing with the cash surpluses. We have been building infrastructure and paying off debt. Of course, we know what the record of the opposition was when it was in government - five out of eight budgets in deficit with our triple AAA credit rating put at risk. Yesterday, the member for Dawesville implied that the former Under Treasurer, Mr John Langoulant, did not share this government’s concerns about the coalition government’s financial record. Whatever Mr Langoulant might have said to the member for Dawesville, I will outline what he put in writing to then Treasurer Richard Court in September 1998. I apologise to members on the government side of the house for having to run the John Langoulant letter again. However, the member for Dawesville was not in the chamber when I read it last time, so I need to run it again. The letter reads- I have expressed my concern to you on a number of occasions about the disturbing trend of Cabinet and individual Ministers to embark upon expenditure proposals out of context with the budget. He then cited particular examples. The letter continues - Individual Ministers and Cabinet Sub-Committees proposing and endorsing proposals which are not consistent with agreed and promulgated government policy. Current examples are the wage outcomes agreed for teachers and police, and being negotiated for nurses. He then went on to single out particular ministers, including the then education minister, who is now the mentor of the opposition. With regards to the member for Cottesloe, the letter states that he sought - . . . to capture the budget process by seeking in-principle approval for significant expenditure programs before the annual budget process begins . . . The very same member who was a financial bandit in government is now the mentor for the inexperienced new members of the opposition. What courses is the member for Cottesloe running? Is he running cost management 102, quality surveying in the water industry, basic accounting 100 or arithmetic 101? He does not have the record to mentor new members of the opposition on financial management issues. I am proud of our financial management, including the financial management of the Minister for Planning and Infrastructure, who has the type of ferocious intelligence that no member on the other side of the house could possibly match. Several members interjected. The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Mr E.S. RIPPER replied: Yet more good economic and financial news was received today. We have had the public release of the monthly report of general government finances. That report again shows how prudent economic and financial management means that the state’s finances remain in great shape. An operating surplus of $1.5 billion was recorded for the eight months to the end of February. That is up from the operating surplus of $1.07 billion recorded during the same period a year earlier. That shows that the state’s economy is going from strength to strength. The resources sector and the property market are going very strongly indeed. That is good news for our community because those surpluses mean that we can invest in infrastructure while keeping debt low. We have record low debt under this government, with record capital works programs. This government has an $18.2 billion capital works program over the next four years. However, we can stay under our debt-to-revenue ratio cap of 47 per cent and keep the state’s AAA credit rating. Moreover, we can pay off debt. That is what we have been doing with the cash surpluses. We have been building infrastructure and paying off debt. Of course, we know what the record of the opposition was when it was in government - five out of eight budgets in deficit with our triple AAA credit rating put at risk. Yesterday, the member for Dawesville implied that the former Under Treasurer, Mr John Langoulant, did not share this government’s concerns about the coalition government’s financial record. Whatever Mr Langoulant might have said to the member for Dawesville, I will outline what he put in writing to then Treasurer Richard Court in September 1998. I apologise to members on the government side of the house for having to run the John Langoulant letter again. However, the member for Dawesville was not in the chamber when I read it last time, so I need to run it again. The letter reads- I have expressed my concern to you on a number of occasions about the disturbing trend of Cabinet and individual Ministers to embark upon expenditure proposals out of context with the budget. He then cited particular examples. The letter continues - Individual Ministers and Cabinet Sub-Committees proposing and endorsing proposals which are not consistent with agreed and promulgated government policy. Current examples are the wage outcomes agreed for teachers and police, and being negotiated for nurses. He then went on to single out particular ministers, including the then education minister, who is now the mentor of the opposition. With regards to the member for Cottesloe, the letter states that he sought - . . . to capture the budget process by seeking in-principle approval for significant expenditure programs before the annual budget process begins . . . The very same member who was a financial bandit in government is now the mentor for the inexperienced new members of the opposition. What courses is the member for Cottesloe running? Is he running cost management 102, quality surveying in the water industry, basic accounting 100 or arithmetic 101? He does not have the record to mentor new members of the opposition on financial management issues. I am proud of our financial management, including the financial management of the Minister for Planning and Infrastructure, who has the type of ferocious intelligence that no member on the other side of the house could possibly match. Several members interjected. The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Yet more good economic and financial news was received today. We have had the public release of the monthly report of general government finances. That report again shows how prudent economic and financial management means that the state’s finances remain in great shape. An operating surplus of $1.5 billion was recorded for the eight months to the end of February. That is up from the operating surplus of $1.07 billion recorded during the same period a year earlier. That shows that the state’s economy is going from strength to strength. The resources sector and the property market are going very strongly indeed. That is good news for our community because those surpluses mean that we can invest in infrastructure while keeping debt low. We have record low debt under this government, with record capital works programs. This government has an $18.2 billion capital works program over the next four years. However, we can stay under our debt-to-revenue ratio cap of 47 per cent and keep the state’s AAA credit rating. Moreover, we can pay off debt. That is what we have been doing with the cash surpluses. We have been building infrastructure and paying off debt. Of course, we know what the record of the opposition was when it was in government - five out of eight budgets in deficit with our triple AAA credit rating put at risk. Yesterday, the member for Dawesville implied that the former Under Treasurer, Mr John Langoulant, did not share this government’s concerns about the coalition government’s financial record. Whatever Mr Langoulant might have said to the member for Dawesville, I will outline what he put in writing to then Treasurer Richard Court in September 1998. I apologise to members on the government side of the house for having to run the John Langoulant letter again. However, the member for Dawesville was not in the chamber when I read it last time, so I need to run it again. The letter reads- I have expressed my concern to you on a number of occasions about the disturbing trend of Cabinet and individual Ministers to embark upon expenditure proposals out of context with the budget. He then cited particular examples. The letter continues - Individual Ministers and Cabinet Sub-Committees proposing and endorsing proposals which are not consistent with agreed and promulgated government policy. Current examples are the wage outcomes agreed for teachers and police, and being negotiated for nurses. He then went on to single out particular ministers, including the then education minister, who is now the mentor of the opposition. With regards to the member for Cottesloe, the letter states that he sought - . . . to capture the budget process by seeking in-principle approval for significant expenditure programs before the annual budget process begins . . . The very same member who was a financial bandit in government is now the mentor for the inexperienced new members of the opposition. What courses is the member for Cottesloe running? Is he running cost management 102, quality surveying in the water industry, basic accounting 100 or arithmetic 101? He does not have the record to mentor new members of the opposition on financial management issues. I am proud of our financial management, including the financial management of the Minister for Planning and Infrastructure, who has the type of ferocious intelligence that no member on the other side of the house could possibly match. Several members interjected. The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Several members interjected. The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Mr E.S. RIPPER replied: Yet more good economic and financial news was received today. We have had the public release of the monthly report of general government finances. That report again shows how prudent economic and financial management means that the state’s finances remain in great shape. An operating surplus of $1.5 billion was recorded for the eight months to the end of February. That is up from the operating surplus of $1.07 billion recorded during the same period a year earlier. That shows that the state’s economy is going from strength to strength. The resources sector and the property market are going very strongly indeed. That is good news for our community because those surpluses mean that we can invest in infrastructure while keeping debt low. We have record low debt under this government, with record capital works programs. This government has an $18.2 billion capital works program over the next four years. However, we can stay under our debt-to-revenue ratio cap of 47 per cent and keep the state’s AAA credit rating. Moreover, we can pay off debt. That is what we have been doing with the cash surpluses. We have been building infrastructure and paying off debt. Of course, we know what the record of the opposition was when it was in government - five out of eight budgets in deficit with our triple AAA credit rating put at risk. Yesterday, the member for Dawesville implied that the former Under Treasurer, Mr John Langoulant, did not share this government’s concerns about the coalition government’s financial record. Whatever Mr Langoulant might have said to the member for Dawesville, I will outline what he put in writing to then Treasurer Richard Court in September 1998. I apologise to members on the government side of the house for having to run the John Langoulant letter again. However, the member for Dawesville was not in the chamber when I read it last time, so I need to run it again. The letter reads- I have expressed my concern to you on a number of occasions about the disturbing trend of Cabinet and individual Ministers to embark upon expenditure proposals out of context with the budget. He then cited particular examples. The letter continues - Individual Ministers and Cabinet Sub-Committees proposing and endorsing proposals which are not consistent with agreed and promulgated government policy. Current examples are the wage outcomes agreed for teachers and police, and being negotiated for nurses. He then went on to single out particular ministers, including the then education minister, who is now the mentor of the opposition. With regards to the member for Cottesloe, the letter states that he sought - . . . to capture the budget process by seeking in-principle approval for significant expenditure programs before the annual budget process begins . . . The very same member who was a financial bandit in government is now the mentor for the inexperienced new members of the opposition. What courses is the member for Cottesloe running? Is he running cost management 102, quality surveying in the water industry, basic accounting 100 or arithmetic 101? He does not have the record to mentor new members of the opposition on financial management issues. I am proud of our financial management, including the financial management of the Minister for Planning and Infrastructure, who has the type of ferocious intelligence that no member on the other side of the house could possibly match. Several members interjected. The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Yet more good economic and financial news was received today. We have had the public release of the monthly report of general government finances. That report again shows how prudent economic and financial management means that the state’s finances remain in great shape. An operating surplus of $1.5 billion was recorded for the eight months to the end of February. That is up from the operating surplus of $1.07 billion recorded during the same period a year earlier. That shows that the state’s economy is going from strength to strength. The resources sector and the property market are going very strongly indeed. That is good news for our community because those surpluses mean that we can invest in infrastructure while keeping debt low. We have record low debt under this government, with record capital works programs. This government has an $18.2 billion capital works program over the next four years. However, we can stay under our debt-to-revenue ratio cap of 47 per cent and keep the state’s AAA credit rating. Moreover, we can pay off debt. That is what we have been doing with the cash surpluses. We have been building infrastructure and paying off debt. Of course, we know what the record of the opposition was when it was in government - five out of eight budgets in deficit with our triple AAA credit rating put at risk. Yesterday, the member for Dawesville implied that the former Under Treasurer, Mr John Langoulant, did not share this government’s concerns about the coalition government’s financial record. Whatever Mr Langoulant might have said to the member for Dawesville, I will outline what he put in writing to then Treasurer Richard Court in September 1998. I apologise to members on the government side of the house for having to run the John Langoulant letter again. However, the member for Dawesville was not in the chamber when I read it last time, so I need to run it again. The letter reads- I have expressed my concern to you on a number of occasions about the disturbing trend of Cabinet and individual Ministers to embark upon expenditure proposals out of context with the budget. He then cited particular examples. The letter continues - Individual Ministers and Cabinet Sub-Committees proposing and endorsing proposals which are not consistent with agreed and promulgated government policy. Current examples are the wage outcomes agreed for teachers and police, and being negotiated for nurses. He then went on to single out particular ministers, including the then education minister, who is now the mentor of the opposition. With regards to the member for Cottesloe, the letter states that he sought - . . . to capture the budget process by seeking in-principle approval for significant expenditure programs before the annual budget process begins . . . The very same member who was a financial bandit in government is now the mentor for the inexperienced new members of the opposition. What courses is the member for Cottesloe running? Is he running cost management 102, quality surveying in the water industry, basic accounting 100 or arithmetic 101? He does not have the record to mentor new members of the opposition on financial management issues. I am proud of our financial management, including the financial management of the Minister for Planning and Infrastructure, who has the type of ferocious intelligence that no member on the other side of the house could possibly match. Several members interjected. The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Several members interjected. The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
The SPEAKER : Order, members! I have stopped question time only once before; however, I am very close to doing it for the second time. Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
Mr E.S. RIPPER : The Minister for Planning and Infrastructure has a ferocious and fierce intelligence and competence that no-one on the other side of the house can match. To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
To return to my answer, the government is using the benefits from the economic boom to invest in the future of all Western Australians. That is what the monthly report of finances to the end of February shows.
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