❓ A parliamentary question on notice regarding Western Australia's state debt levels in 2001 and 2004. The Treasurer's answer focuses on the Gallop Government's debt reduction and investment in essential services.
AnsweredQoN 3172Legislative Assembly
QuestionView source ↗
(1) Will the Treasurer advise the level of State debt as at 10 February 2001?
(2) Will the Treasurer advise the current level of State debt ?
(2) Will the Treasurer advise the current level of State debt ?
AnswerView source ↗
Answered
19 October 2004
Response time
61 days
(2) Total public sector net debt at 30 June 2004 was $4,194 million (as published in the 2003-04 Government Financial Results Report). This is the lowest level of net debt on record, down $303 million on the level of net debt a year earlier and a massive $1,708 million lower than the corresponding estimate in the 2000-01 Pre-election Financial Projections Statement, despite a significant increase in capital works spending in 2003-04. The Government's tight financial discipline has allowed retirement of $481 million in debt, resulting in interest savings of around $32 million per year, which will be ploughed back into essential services for the community. This record low net debt level, combined with stronger than anticipated revenue, has resulted in a net debt to revenue ratio for the total non-financial public sector of just 28.4% - the lowest outcome on record and 16 percentage points lower than was projected in the Pre-elections Financial Projections Statement. By delivering surpluses and slashing State debt, the Gallop Government has created the capacity to invest in long-term projects like electricity infrastructure, the desalination project and the $1.7 billion health reform plan and pump extra funds into school maintenance and reducing hospital waiting lists. In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
The Government's tight financial discipline has allowed retirement of $481 million in debt, resulting in interest savings of around $32 million per year, which will be ploughed back into essential services for the community. This record low net debt level, combined with stronger than anticipated revenue, has resulted in a net debt to revenue ratio for the total non-financial public sector of just 28.4% - the lowest outcome on record and 16 percentage points lower than was projected in the Pre-elections Financial Projections Statement. By delivering surpluses and slashing State debt, the Gallop Government has created the capacity to invest in long-term projects like electricity infrastructure, the desalination project and the $1.7 billion health reform plan and pump extra funds into school maintenance and reducing hospital waiting lists. In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
This record low net debt level, combined with stronger than anticipated revenue, has resulted in a net debt to revenue ratio for the total non-financial public sector of just 28.4% - the lowest outcome on record and 16 percentage points lower than was projected in the Pre-elections Financial Projections Statement. By delivering surpluses and slashing State debt, the Gallop Government has created the capacity to invest in long-term projects like electricity infrastructure, the desalination project and the $1.7 billion health reform plan and pump extra funds into school maintenance and reducing hospital waiting lists. In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
By delivering surpluses and slashing State debt, the Gallop Government has created the capacity to invest in long-term projects like electricity infrastructure, the desalination project and the $1.7 billion health reform plan and pump extra funds into school maintenance and reducing hospital waiting lists. In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
The Government's tight financial discipline has allowed retirement of $481 million in debt, resulting in interest savings of around $32 million per year, which will be ploughed back into essential services for the community. This record low net debt level, combined with stronger than anticipated revenue, has resulted in a net debt to revenue ratio for the total non-financial public sector of just 28.4% - the lowest outcome on record and 16 percentage points lower than was projected in the Pre-elections Financial Projections Statement. By delivering surpluses and slashing State debt, the Gallop Government has created the capacity to invest in long-term projects like electricity infrastructure, the desalination project and the $1.7 billion health reform plan and pump extra funds into school maintenance and reducing hospital waiting lists. In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
This record low net debt level, combined with stronger than anticipated revenue, has resulted in a net debt to revenue ratio for the total non-financial public sector of just 28.4% - the lowest outcome on record and 16 percentage points lower than was projected in the Pre-elections Financial Projections Statement. By delivering surpluses and slashing State debt, the Gallop Government has created the capacity to invest in long-term projects like electricity infrastructure, the desalination project and the $1.7 billion health reform plan and pump extra funds into school maintenance and reducing hospital waiting lists. In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
By delivering surpluses and slashing State debt, the Gallop Government has created the capacity to invest in long-term projects like electricity infrastructure, the desalination project and the $1.7 billion health reform plan and pump extra funds into school maintenance and reducing hospital waiting lists. In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
In four Budgets, the Government has increased annual spending in the community priorities of health, education, law and order, community development and disability services by $1.6 billion. Annual spending on health is now up $808 million (or 35%), education and training spending is up $457 million (or 24%) and spending on police is up $159 million (or 35%).
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