❓ The Treasurer responds to concerns about WA's tax competitiveness, arguing that WA remains competitive and outlining initiatives to improve the business environment and attract investment.
AnsweredQoN 1877Legislative Assembly
QuestionView source ↗
I refer to Western Australia’s overall tax competitiveness and ask, given that in its first two budgets Labor has reduced the State’s tax competitiveness by around 8.5%, what impact in dollar terms does the Treasurer anticipate this reduction in tax competitiveness will have on interstate and foreign investment in Western Australia per annum over the next 5 to 10 years?
AnswerView source ↗
Answered
27 June 2002
Response time
15 days
In 2002/03, Western Australia is expected to be the most competitive State in terms of tax revenue as a share of GSP, and the fourth most competitive State in terms of tax revenue per capita. These are the same rankings as would have occurred without the 2001/02 and 2002/03 budget revenue measures and are the same as expected at the time of the February 2001 State election. Western Australia's ranking as most competitive State in terms of tax revenue as a share of GSP means that less State tax is paid for every dollar of goods and services produced in Western Australia than in each of the other States. This puts Western Australia into an excellent position in terms of interstate tax competitiveness. In relation to the specific revenue raising measures, the majority of taxpayers impacted continue to have either lower liabilities or broadly similar liabilities to taxpayers in other States in similar circumstances. In addition, this government has taken direct action to reduce taxation where it was adversely affecting competition in specific areas, such as: * reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
Western Australia's ranking as most competitive State in terms of tax revenue as a share of GSP means that less State tax is paid for every dollar of goods and services produced in Western Australia than in each of the other States. This puts Western Australia into an excellent position in terms of interstate tax competitiveness. In relation to the specific revenue raising measures, the majority of taxpayers impacted continue to have either lower liabilities or broadly similar liabilities to taxpayers in other States in similar circumstances. In addition, this government has taken direct action to reduce taxation where it was adversely affecting competition in specific areas, such as: * reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
In relation to the specific revenue raising measures, the majority of taxpayers impacted continue to have either lower liabilities or broadly similar liabilities to taxpayers in other States in similar circumstances. In addition, this government has taken direct action to reduce taxation where it was adversely affecting competition in specific areas, such as: * reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
In addition, this government has taken direct action to reduce taxation where it was adversely affecting competition in specific areas, such as: * reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* working to establish a clear framework for native title negotiations with a focus on achieving agreements.
Western Australia's ranking as most competitive State in terms of tax revenue as a share of GSP means that less State tax is paid for every dollar of goods and services produced in Western Australia than in each of the other States. This puts Western Australia into an excellent position in terms of interstate tax competitiveness. In relation to the specific revenue raising measures, the majority of taxpayers impacted continue to have either lower liabilities or broadly similar liabilities to taxpayers in other States in similar circumstances. In addition, this government has taken direct action to reduce taxation where it was adversely affecting competition in specific areas, such as: * reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
In relation to the specific revenue raising measures, the majority of taxpayers impacted continue to have either lower liabilities or broadly similar liabilities to taxpayers in other States in similar circumstances. In addition, this government has taken direct action to reduce taxation where it was adversely affecting competition in specific areas, such as: * reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
In addition, this government has taken direct action to reduce taxation where it was adversely affecting competition in specific areas, such as: * reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* reducing the rate of stamp duty on new registrations of heavy vehicles and heavy trailers (ie. those with a mass rating for charging exceeding 4.5 tonnes) to 3.0%. This measure reverses the previous government's decision to increase stamp duty on motor vehicles from 1 July 1999, an increase which had adverse consequences for investment and employment in that industry; and * the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* the decision to legislate the provision of relief from the private unit trust provision of the Stamp Act for genuine 'wholesale unit trusts'. In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
In addition, the proposed Streamlining the Tax System package is aimed at delivering a tax system which has fewer taxes, is fairer, is less distortionary, is more competitive, is simpler, and minimises taxpayers' compliance costs. Ultimately, this package will result in a more attractive environment for conducting business in Western Australia. Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
Of course our competitiveness is affected by more than State taxation. This government has taken a number of initiatives that will have a significant positive impact on investment in the State. These initiatives include: * the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* the Government's commitment to infrastructure spending. The 2002/03 budget incorporates a $3.1 billion capital works program, including spending on the Burrup Peninsula, port facilities and power projects, providing the infrastructure to attract industry to Western Australia; * maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* maintaining a sound financial position, including targeting expenditure restraint, delivering budget surpluses and retaining the State's triple-A credit rating which business groups, such as the Chamber of Commerce and Industry, and the Chamber of Minerals and Energy, have ranked highly in terms of creating a favourable business environment in this State; * an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* an initiative to streamline the approvals process for resource projects by removing duplication and overlap, improving the timeliness of approvals and making information on the approvals process for projects more readily and publicly available; * electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* electricity reform, with a view to reduce power prices and attract industry investment to Western Australia; and * working to establish a clear framework for native title negotiations with a focus on achieving agreements.
* working to establish a clear framework for native title negotiations with a focus on achieving agreements.
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