❓ The Treasurer provides an update on WA's finances, highlighting the state's AAA credit rating and criticising the opposition's spending promises. The Treasurer uses the independent analysis to support the government's fiscal policy and attack the opposition's credibility.
AnsweredQoN 470Legislative Assembly
QuestionView source ↗
WESTERN AUSTRALIA’S FINANCES
Can the Treasurer update the house on the latest independent analysis of the state’s finances? Mr E.S. RIPPER
Can the Treasurer update the house on the latest independent analysis of the state’s finances? Mr E.S. RIPPER
AnswerView source ↗
Indeed I can, and I am very pleased to say that Western Australia’s finances have never been in better shape than they are today. That has been confirmed by Standard and Poor’s, which has reaffirmed Western Australia’s AAA credit rating. Moody’s gave the same rating earlier this year. Both rating agencies have confirmed this state’s AAA credit rating for each year since this government was elected in 2001. A press release issued by Standard and Poor’s said - The ratings affirmation reflects the state’s healthy balance sheet, strong economic performance, and fiscal prudence. It reflects this government’s commitment to a healthy balance sheet, while delivering the services that our community expects, and the infrastructure that people need now and the economy needs for the future. I found the emphasis that Standard and Poor’s placed on budgeting sustainability very interesting; that is, budgeting for tomorrow and not just for today. I agree with that. That is the reason the government has resisted pressure from the opposition and vested interest groups to plunder the surplus for short-term gain. We are budgeting for tomorrow, not just today. We always think about how sustainable our decisions will be and how our decisions will affect taxpayers and service receivers in the future. Standard and Poor’s said about this government - It is encouraging that the government is treating its large cash and accrual operating surpluses as cyclical gains, and has not substantially increased recurrent expenditure or reduced recurrent revenues . . . This is particularly important given the state’s dependence on the potentially volatile resources sector. On the other side of the house we have an opposition with a faltering leader. Members opposite try to bolster their leader’s profile with unwise and unjustified expenditure. That is not something that members on this side of the house have to do. Our leader is travelling very well. We do not need to make any unwise promises to keep his standing in the polls. The opposition has made $1.8 billion worth of promises in just four weeks. The member for Dawesville, who has been interjecting, is one of the chief offenders, along with the shadow Treasurer. The Leader of the Opposition made a promise about police wages. Is that true, Leader of the Opposition? Mr P.D. Omodei : When did I do that? Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Mr E.S. RIPPER replied: Indeed I can, and I am very pleased to say that Western Australia’s finances have never been in better shape than they are today. That has been confirmed by Standard and Poor’s, which has reaffirmed Western Australia’s AAA credit rating. Moody’s gave the same rating earlier this year. Both rating agencies have confirmed this state’s AAA credit rating for each year since this government was elected in 2001. A press release issued by Standard and Poor’s said - The ratings affirmation reflects the state’s healthy balance sheet, strong economic performance, and fiscal prudence. It reflects this government’s commitment to a healthy balance sheet, while delivering the services that our community expects, and the infrastructure that people need now and the economy needs for the future. I found the emphasis that Standard and Poor’s placed on budgeting sustainability very interesting; that is, budgeting for tomorrow and not just for today. I agree with that. That is the reason the government has resisted pressure from the opposition and vested interest groups to plunder the surplus for short-term gain. We are budgeting for tomorrow, not just today. We always think about how sustainable our decisions will be and how our decisions will affect taxpayers and service receivers in the future. Standard and Poor’s said about this government - It is encouraging that the government is treating its large cash and accrual operating surpluses as cyclical gains, and has not substantially increased recurrent expenditure or reduced recurrent revenues . . . This is particularly important given the state’s dependence on the potentially volatile resources sector. On the other side of the house we have an opposition with a faltering leader. Members opposite try to bolster their leader’s profile with unwise and unjustified expenditure. That is not something that members on this side of the house have to do. Our leader is travelling very well. We do not need to make any unwise promises to keep his standing in the polls. The opposition has made $1.8 billion worth of promises in just four weeks. The member for Dawesville, who has been interjecting, is one of the chief offenders, along with the shadow Treasurer. The Leader of the Opposition made a promise about police wages. Is that true, Leader of the Opposition? Mr P.D. Omodei : When did I do that? Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Indeed I can, and I am very pleased to say that Western Australia’s finances have never been in better shape than they are today. That has been confirmed by Standard and Poor’s, which has reaffirmed Western Australia’s AAA credit rating. Moody’s gave the same rating earlier this year. Both rating agencies have confirmed this state’s AAA credit rating for each year since this government was elected in 2001. A press release issued by Standard and Poor’s said - The ratings affirmation reflects the state’s healthy balance sheet, strong economic performance, and fiscal prudence. It reflects this government’s commitment to a healthy balance sheet, while delivering the services that our community expects, and the infrastructure that people need now and the economy needs for the future. I found the emphasis that Standard and Poor’s placed on budgeting sustainability very interesting; that is, budgeting for tomorrow and not just for today. I agree with that. That is the reason the government has resisted pressure from the opposition and vested interest groups to plunder the surplus for short-term gain. We are budgeting for tomorrow, not just today. We always think about how sustainable our decisions will be and how our decisions will affect taxpayers and service receivers in the future. Standard and Poor’s said about this government - It is encouraging that the government is treating its large cash and accrual operating surpluses as cyclical gains, and has not substantially increased recurrent expenditure or reduced recurrent revenues . . . This is particularly important given the state’s dependence on the potentially volatile resources sector. On the other side of the house we have an opposition with a faltering leader. Members opposite try to bolster their leader’s profile with unwise and unjustified expenditure. That is not something that members on this side of the house have to do. Our leader is travelling very well. We do not need to make any unwise promises to keep his standing in the polls. The opposition has made $1.8 billion worth of promises in just four weeks. The member for Dawesville, who has been interjecting, is one of the chief offenders, along with the shadow Treasurer. The Leader of the Opposition made a promise about police wages. Is that true, Leader of the Opposition? Mr P.D. Omodei : When did I do that? Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Mr P.D. Omodei : When did I do that? Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Mr E.S. RIPPER replied: Indeed I can, and I am very pleased to say that Western Australia’s finances have never been in better shape than they are today. That has been confirmed by Standard and Poor’s, which has reaffirmed Western Australia’s AAA credit rating. Moody’s gave the same rating earlier this year. Both rating agencies have confirmed this state’s AAA credit rating for each year since this government was elected in 2001. A press release issued by Standard and Poor’s said - The ratings affirmation reflects the state’s healthy balance sheet, strong economic performance, and fiscal prudence. It reflects this government’s commitment to a healthy balance sheet, while delivering the services that our community expects, and the infrastructure that people need now and the economy needs for the future. I found the emphasis that Standard and Poor’s placed on budgeting sustainability very interesting; that is, budgeting for tomorrow and not just for today. I agree with that. That is the reason the government has resisted pressure from the opposition and vested interest groups to plunder the surplus for short-term gain. We are budgeting for tomorrow, not just today. We always think about how sustainable our decisions will be and how our decisions will affect taxpayers and service receivers in the future. Standard and Poor’s said about this government - It is encouraging that the government is treating its large cash and accrual operating surpluses as cyclical gains, and has not substantially increased recurrent expenditure or reduced recurrent revenues . . . This is particularly important given the state’s dependence on the potentially volatile resources sector. On the other side of the house we have an opposition with a faltering leader. Members opposite try to bolster their leader’s profile with unwise and unjustified expenditure. That is not something that members on this side of the house have to do. Our leader is travelling very well. We do not need to make any unwise promises to keep his standing in the polls. The opposition has made $1.8 billion worth of promises in just four weeks. The member for Dawesville, who has been interjecting, is one of the chief offenders, along with the shadow Treasurer. The Leader of the Opposition made a promise about police wages. Is that true, Leader of the Opposition? Mr P.D. Omodei : When did I do that? Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Indeed I can, and I am very pleased to say that Western Australia’s finances have never been in better shape than they are today. That has been confirmed by Standard and Poor’s, which has reaffirmed Western Australia’s AAA credit rating. Moody’s gave the same rating earlier this year. Both rating agencies have confirmed this state’s AAA credit rating for each year since this government was elected in 2001. A press release issued by Standard and Poor’s said - The ratings affirmation reflects the state’s healthy balance sheet, strong economic performance, and fiscal prudence. It reflects this government’s commitment to a healthy balance sheet, while delivering the services that our community expects, and the infrastructure that people need now and the economy needs for the future. I found the emphasis that Standard and Poor’s placed on budgeting sustainability very interesting; that is, budgeting for tomorrow and not just for today. I agree with that. That is the reason the government has resisted pressure from the opposition and vested interest groups to plunder the surplus for short-term gain. We are budgeting for tomorrow, not just today. We always think about how sustainable our decisions will be and how our decisions will affect taxpayers and service receivers in the future. Standard and Poor’s said about this government - It is encouraging that the government is treating its large cash and accrual operating surpluses as cyclical gains, and has not substantially increased recurrent expenditure or reduced recurrent revenues . . . This is particularly important given the state’s dependence on the potentially volatile resources sector. On the other side of the house we have an opposition with a faltering leader. Members opposite try to bolster their leader’s profile with unwise and unjustified expenditure. That is not something that members on this side of the house have to do. Our leader is travelling very well. We do not need to make any unwise promises to keep his standing in the polls. The opposition has made $1.8 billion worth of promises in just four weeks. The member for Dawesville, who has been interjecting, is one of the chief offenders, along with the shadow Treasurer. The Leader of the Opposition made a promise about police wages. Is that true, Leader of the Opposition? Mr P.D. Omodei : When did I do that? Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Mr P.D. Omodei : When did I do that? Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
Mr E.S. RIPPER : The Leader of the Opposition said that - Police officers have asked for 20%, 12.5% is not really an increase at all, given inflation, so it’s got to be somewhere between . . . very close to the 20%, probably between 15 and 20%. The opposition’s position would cost $650 million over three years, or probably $900 million over a four-year period. The shadow Treasurer is not much better, because he has been making $400 million worth of promises. When the shadow Treasurer had his hands on some levers of power as president of the Shire of Busselton - they were modest levers, so he has just a modest record in power - he increased consultancy expenditure by 857 per cent. He then funded that by increasing rates by 15 per cent. That is the sort of financial management that is shown in practice and, unfortunately, promised, by the opposition. There would be no hope at all if the lot opposite were to achieve power.
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