❓ Shadow Treasurer Wyatt questions Treasurer Buswell about the state's AAA credit rating in light of increased spending and potential breach of net-financial-liabilities-to-revenue ratio. Buswell's response is initially evasive and descends into personal attacks, failing to directly address the questions.
AnsweredQoN 581Legislative Assembly
QuestionView source ↗
AAA CREDIT RATING
The 2009-10 budget indicated that the state’s net-financial-liabilities-to-revenue ratio would be 85.6 per cent by 2011-12. Standard and Poor’s has indicated that the state’s AAA credit rating could be revoked if the ratio breaches 90 per cent. In light of the significant spending announcements made by the state government since the tabling of the 2009-10 budget — (1) Has the government had any recent communication with any credit rating agency on the impact of this additional spending on the state’s credit rating? (2) Is the Treasurer confident that the state’s net-financial-liabilities-to-revenue ratio will not breach 90 per cent? (3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL
The 2009-10 budget indicated that the state’s net-financial-liabilities-to-revenue ratio would be 85.6 per cent by 2011-12. Standard and Poor’s has indicated that the state’s AAA credit rating could be revoked if the ratio breaches 90 per cent. In light of the significant spending announcements made by the state government since the tabling of the 2009-10 budget — (1) Has the government had any recent communication with any credit rating agency on the impact of this additional spending on the state’s credit rating? (2) Is the Treasurer confident that the state’s net-financial-liabilities-to-revenue ratio will not breach 90 per cent? (3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL
AnswerView source ↗
(1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(1) Has the government had any recent communication with any credit rating agency on the impact of this additional spending on the state’s credit rating? (2) Is the Treasurer confident that the state’s net-financial-liabilities-to-revenue ratio will not breach 90 per cent? (3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(2) Is the Treasurer confident that the state’s net-financial-liabilities-to-revenue ratio will not breach 90 per cent? (3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(1) Has the government had any recent communication with any credit rating agency on the impact of this additional spending on the state’s credit rating? (2) Is the Treasurer confident that the state’s net-financial-liabilities-to-revenue ratio will not breach 90 per cent? (3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(2) Is the Treasurer confident that the state’s net-financial-liabilities-to-revenue ratio will not breach 90 per cent? (3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(3) Is the Treasurer confident that the estimates of debt levels that are outlined in the budget are still accurate? Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL replied: (1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
(1)-(3) I thank the member for Victoria Park, the shadow Minister for Culture and the Arts, for that question. Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. Wyatt : I am not the shadow Minister for Culture and the Arts. Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Have we had communications with the ratings agencies? Yes. Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. Wyatt : I have not had that portfolio for months. Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Has the member not? Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. Wyatt : No. Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Sorry, I had not noticed. I thought that the member must have been flat out in the arts portfolio because of the paucity of activity in his economics portfolio. Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Several members interjected. Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Have we had any contact with the ratings agencies? Yes. The Premier and I met last week with Standard and Poor’s as part of our trip around Australia, and I met with Moody’s sometime before that. We went over in some detail information contained in the budget and over a range of volatile factors that have impacted on the state’s finances. As the member rightly pointed out, the estimated surplus for 2009-10 contained in the budget was $409 million and the net-financial-liabilities-to-revenue ratio was 85 or 86 per cent. Obviously we are operating in a very dynamic environment. A number of volatile international factors are impacting on the state’s economy. Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr P. Papalia interjected. Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : It is a bit like that, member for Warnbro. We are judging a range of very volatile factors, many of which are beyond our control, including the exchange rate — Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Several members interjected. Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : I know what it is like to be in the position of the Leader of the Opposition. I know what it is like to be under pressure as Leader of the Opposition. I will give him a tip. I am very interested in the four out of 20 people in the Hay Street mall who recognised him when they were shown his photo. Point of Order Mr B.S. WYATT : I always find it interesting that a man who gets sexual gratification from the humiliation of women is the first person to come in here — Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Several members interjected. Withdrawal of Remark The SPEAKER : Member for Victoria Park, I do not think that comment is appropriate in this place, and I ask you to withdraw it. Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. WYATT : Mr Speaker, if you find the truth of that comment offensive, I withdraw the comment, but further to the point of order — The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : Member for Victoria Park, I suggest you withdraw the comment without any further comment—simply withdraw. Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. WYATT : I withdraw the comments I directed towards the Treasurer’s behaviour. Point of Order Resumed Mr B.S. WYATT : My point of order is that my questions to the Treasurer about his activities were very specific, and I ask that you, Mr Speaker, direct the Treasurer to answer the three specific questions I asked him. The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : Thank you, member. If I might draw an analogy, with the greatest respect, it is a bit like Melbourne versus Richmond—we are halfway through and we have hardly made any progress. That applies to both sides. Treasurer, I ask you to hasten with your comments. Questions without Notice Resumed Several members interjected. Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : Has everyone had their say? As I was about to say, I was most impressed by Kiera Zawal, who thought the Leader of the Opposition was Dr Phil. Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.G. Stephens interjected. Point of Order The SPEAKER : I call the member for Pilbara to order for the first time. I believe the member for Victoria Park has asked for a point of order. Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr B.S. WYATT : Mr Speaker, you asked me to withdraw comments about the Treasurer’s sexual gratifications, and I have done that, and I now ask you to direct him to answer the question. I ask again that you bring him back to focus on the three specific questions I put to him about the state’s finances. The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : I indicate to all members that this question time is going to reach a very rapid end. I urge the Treasurer to get directly to the questions that the member for Victoria Park has asked him. Questions without Notice Resumed Mr P. Papalia : Stop clowning around. The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
The SPEAKER : I did not want any more interjections, either. Perhaps I should have added that, member for Warnbro, and I formally call you to order for the first time. Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : One day I will get a question from this side. We have had contact with Moody’s and Standard and Poor’s. We ran through a number of these dynamic factors. The opposition interjected, suggesting that those dynamic factors were within my control, claiming that the Premier was one of those non-volatile factors. The Premier is doing a great job, but he cannot influence the price of iron ore, and unfortunately he cannot influence the exchange rate. I know that the Premier in China did a great job stimulating demand for our exports. We are dealing with a range of volatile factors. If we did nothing else, a number of those volatile factors would impact on the budget bottom line. A change in the exchange rate would erode revenues. It would have an impact. Government capital expenditure announcements that we make because we are a government of action have an impact on the government’s bottom line. However, I can give the member an undertaking that we do not hand down the budget in May and then go to sleep. We manage the state’s finances on a day-by-day basis — Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr E.S. Ripper : You make it up as you go along. Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
Mr T.R. BUSWELL : We do not make it up as we go along. We manage the state’s finances on a day-by-day basis, dealing with the range of volatilities. When will that be brought to account? As it always has been in this state, when we hand down the midyear review. If we have to take corrective measures to maintain the financial discipline on which we are building a record, we will do so. If we have to take corrective measures to protect our surplus position, keep our ratio of net financial liabilities to revenue within the parameters set by Standard and Poor’s, we will do so. We did it at the time of the budget, and it was difficult, but we will do it again, and we will continue to manage the finances of this state in a way that protects our underlying strength while importantly focusing on Western Australian jobs.
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