❓ Mr. Wyatt questions Premier Barnett about the increase in state debt despite higher-than-expected revenue in 2010-11. Premier Barnett defends the debt by citing investments in infrastructure projects like hospitals and schools, and acknowledges the impact of declining GST revenue and iron ore prices.
AnsweredQoN 403Legislative Assembly
QuestionView source ↗
STATE DEBT
403. Mr B.S. WYATT to the
Premier:
I have a supplementary question. I say again, when the
Premier made that commitment for a $20 billion net debt cap in the 2010–11
financial year, actual revenue was over $6 billion higher than the revenue
expected when that commitment was made. Why then has debt gone on such a
trajectory that we are now looking at $36.2 billion net debt?
403. Mr B.S. WYATT to the
Premier:
I have a supplementary question. I say again, when the
Premier made that commitment for a $20 billion net debt cap in the 2010–11
financial year, actual revenue was over $6 billion higher than the revenue
expected when that commitment was made. Why then has debt gone on such a
trajectory that we are now looking at $36.2 billion net debt?
AnswerView source ↗
I certainly said that I would like debt to be $20 billion at
the time, and I want to keep debt in the low 20s; that is where we would like
to be. We should carry debt, because we are building long-term capital assets
for this state. We will not pay for —
Mr B.S. Wyatt interjected.
Mr C.J. BARNETT :
Debt has a role in financing long-term capital assets.
Mr B.S. Wyatt interjected.
Mr C.J. BARNETT :
Why is debt high?
The SPEAKER :
Member for Victoria Park, I call you to order for the first time.
Mr C.J. BARNETT :
Why do we have debt? We have debt because we built Fiona Stanley Hospital, we
built Perth Children's Hospital and we have built hospitals throughout
the state.
Mr B.S. Wyatt interjected.
The SPEAKER :
Member for Victoria Park, I call you to order for the second time.
Mr C.J. BARNETT :
We are building schools, fantastic schools, and we are having growth in
population.
Mr P.B. Watson :
The kids in kindergarten will be paying off your debt.
The SPEAKER : We
are getting nowhere.
Mr C.J. BARNETT :
The member for Albany should, for once, celebrate Albany Hospital, built by
this government. Never has he said a good word about Albany Hospital. Yes, we
have a debt issue. No-one is in denial about that. We have seen GST decline. We
were hit by the iron ore price decline. We carry debt on long-term assets but
we will reduce that debt. I think the people of Western Australia wherever they
go in metropolitan Perth or country WA can see tangible examples of a
government that makes decisions and builds this state.
Several members interjected.
The SPEAKER :
Member for Warnbro, I call you to order for the first time. Member for
Wanneroo, I call you to order for the first time.
the time, and I want to keep debt in the low 20s; that is where we would like
to be. We should carry debt, because we are building long-term capital assets
for this state. We will not pay for —
Mr B.S. Wyatt interjected.
Mr C.J. BARNETT :
Debt has a role in financing long-term capital assets.
Mr B.S. Wyatt interjected.
Mr C.J. BARNETT :
Why is debt high?
The SPEAKER :
Member for Victoria Park, I call you to order for the first time.
Mr C.J. BARNETT :
Why do we have debt? We have debt because we built Fiona Stanley Hospital, we
built Perth Children's Hospital and we have built hospitals throughout
the state.
Mr B.S. Wyatt interjected.
The SPEAKER :
Member for Victoria Park, I call you to order for the second time.
Mr C.J. BARNETT :
We are building schools, fantastic schools, and we are having growth in
population.
Mr P.B. Watson :
The kids in kindergarten will be paying off your debt.
The SPEAKER : We
are getting nowhere.
Mr C.J. BARNETT :
The member for Albany should, for once, celebrate Albany Hospital, built by
this government. Never has he said a good word about Albany Hospital. Yes, we
have a debt issue. No-one is in denial about that. We have seen GST decline. We
were hit by the iron ore price decline. We carry debt on long-term assets but
we will reduce that debt. I think the people of Western Australia wherever they
go in metropolitan Perth or country WA can see tangible examples of a
government that makes decisions and builds this state.
Several members interjected.
The SPEAKER :
Member for Warnbro, I call you to order for the first time. Member for
Wanneroo, I call you to order for the first time.
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