❓ Shadow Treasurer Wyatt questions Treasurer Buswell about a budget deficit, health budget blow-out, and financial targets. Buswell admits the surplus and expense targets are under threat, but highlights positive economic signs and a AAA credit rating.
AnsweredQoN 971Legislative Assembly
QuestionView source ↗
STATE BUDGET — ESTIMATES
In light of the remarkable deficit of $647 million accrued over the first two months of the current financial year and the recent revelation that the Minister for Health’s budget is already in the red to pay for last year’s $400 million blow-out — (1) Will the Treasurer confirm his confidence that expense growth this financial year will be as per the budget estimate of 6.6 per cent? (2) Is the Treasurer confident that the 2009-10 financial year will record a surplus of $409 million? (3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL
In light of the remarkable deficit of $647 million accrued over the first two months of the current financial year and the recent revelation that the Minister for Health’s budget is already in the red to pay for last year’s $400 million blow-out — (1) Will the Treasurer confirm his confidence that expense growth this financial year will be as per the budget estimate of 6.6 per cent? (2) Is the Treasurer confident that the 2009-10 financial year will record a surplus of $409 million? (3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL
AnswerView source ↗
(1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(1) Will the Treasurer confirm his confidence that expense growth this financial year will be as per the budget estimate of 6.6 per cent? (2) Is the Treasurer confident that the 2009-10 financial year will record a surplus of $409 million? (3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(2) Is the Treasurer confident that the 2009-10 financial year will record a surplus of $409 million? (3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(1) Will the Treasurer confirm his confidence that expense growth this financial year will be as per the budget estimate of 6.6 per cent? (2) Is the Treasurer confident that the 2009-10 financial year will record a surplus of $409 million? (3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(2) Is the Treasurer confident that the 2009-10 financial year will record a surplus of $409 million? (3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(3) Is the Treasurer confident that the net-financial-liabilities-to-operating-revenue ratio for 2009-10 will remain below 73.6 per cent? Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL replied: (1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
(1)-(3) Am I confident that we will return exactly a $409 million surplus? No. Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : What about the 6.6 per cent? Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : No. In fact, I am not aware of any government that delivered at the out-turn the surplus that it indicated at the start. I do not think that I am in unique company. It is fair to say that the surplus is under threat. Make no mistake about it. I say to my fellow ministers—I am not talking to the opposition members today; I am talking to my ministers—that the surplus is under threat. The surplus is under threat, Minister for Health. The Premier can carry on; he is doing a great job! I am happy to support the Premier but the rest of you, pull your heads in! It is under threat. That is a fact. Is the 6.6 per cent expense target under threat? Yes, it is. Are we working hard on it? Yes, we are. Can we fix it? We hope so. What was the member’s last question? Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : It was the 73.6 per cent. Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : Again, it is very difficult — Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : You should have a vague idea about that, Treasurer. Yes or no. Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : It is very difficult to give an exact answer. Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr B.S. Wyatt : You can give a vague answer. You give vague answers every other day. Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Mr T.R. BUSWELL : Let me put it this way: I expect that over the four years of the forward estimates the net-financial-liabilities-to-operating-revenue ratio figures will stay within the bands that Standard and Poor’s set. The member might not be familiar with Standard and Poor’s. I will tell him what it is. It is the independent assessor of the states’ finances. Standard and Poor’s can give a state a AA credit rating, AA+ credit rating if the state has done very well and, if the state is doing a really, really good job, it can give it a AAA credit rating. When Standard and Poor’s looked at our budget, it gave us a AAA credit rating. Is the budget under pressure? Of course it is. Are we facing an environment in which revenues are being impacted on? Yes, we are. It is a tough job. I indicated to the house yesterday that there are challenges in the health budget. In October the health expenses were beginning to show a semblance of fitting within the budget targets. Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
Let us look at some of the other things that are happening in Western Australia, because it is not all doom and gloom. The state’s finances are tight but the state’s economy is turning a corner. I expect that one of the other things that the member for Victoria Park may be pleased to see in the midyear review is the revised economic growth figures for Western Australia. Whereas six months ago we were looking at two years of economic contraction, I suspect that we will be looking now at modest economic growth in Western Australia. In part, that is due to the policies of this government. What was the last unemployment figure to come out in October? It was five per cent, which is a decrease. Some 10 000 more Western Australians were in work, in part, because of the policies of this government. Why are the significant private sector projects happening? It is due, in part, to the policies of this government. Yes, it is hard managing the state’s finances, but the good news is that the state’s economy, in our view, is beginning to show positive signs. Do we have to keep focusing on ensuring that that manifests itself in broader prosperity? Yes, we do. The finances are under a tad of pressure.
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