❓ Mr. Wyatt asks the Treasurer about the timeline for repaying the projected $19.1 billion net debt and the required GSP growth. The Treasurer avoids directly answering, stating the financial plan will be outlined in the budget and mid-year review.
AnsweredQoN 553Legislative Assembly
QuestionView source ↗
DEBT REPAYMENT TIME LINE
I acknowledge the Youth Parliament representatives in the public gallery, including the very youthful Youth Parliament member for Victoria Park. In my question to the Treasurer, I refer to the 2009-10 budget and the projected net debt position of $19.1 billion by 2013. (1) Can the Treasurer advise the house how long it will take for the $19.1 billion of net debt to be repaid? (2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL
I acknowledge the Youth Parliament representatives in the public gallery, including the very youthful Youth Parliament member for Victoria Park. In my question to the Treasurer, I refer to the 2009-10 budget and the projected net debt position of $19.1 billion by 2013. (1) Can the Treasurer advise the house how long it will take for the $19.1 billion of net debt to be repaid? (2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL
AnswerView source ↗
(1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
In my question to the Treasurer, I refer to the 2009-10 budget and the projected net debt position of $19.1 billion by 2013. (1) Can the Treasurer advise the house how long it will take for the $19.1 billion of net debt to be repaid? (2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
(1) Can the Treasurer advise the house how long it will take for the $19.1 billion of net debt to be repaid? (2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
(2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
(1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
In my question to the Treasurer, I refer to the 2009-10 budget and the projected net debt position of $19.1 billion by 2013. (1) Can the Treasurer advise the house how long it will take for the $19.1 billion of net debt to be repaid? (2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
(1) Can the Treasurer advise the house how long it will take for the $19.1 billion of net debt to be repaid? (2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
(2) Assuming there is a time line, what average annual growth in gross state product is required to meet the Treasurer’s time line? Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL replied: (1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
(1)-(2) I will say this about state debt: the member for Victoria Park is right that it is $19.1 billion. A lot is being made by the opposition about the level of debt in Western Australia being too high. We make absolutely no apology whatsoever that we are prepared to borrow money to support Western Australian jobs. Point of Order Mr B.S. WYATT : Mr Speaker, I am not seeking an apology from the Treasurer. My two questions are very specific and I ask that you ask him to address the two questions. The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
The SPEAKER : I presume the Treasurer is going to address those questions that the member for Victoria Park has asked, and I urge him to do that now. Questions without Notice Resumed Mr T.R. BUSWELL : Let me say this: the level of debt, which is debt the government is borrowing to support Western Australian jobs, runs out over the four-year period to $19.3 billion. Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr E.S. Ripper : To assess whether that is a good policy, we should know about the repayment plan. Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : Yes, of course. Of course, when the opposition was in government, as it ran state debt up over the forward estimates — Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr E.S. Ripper : We reduced state debt. Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr A.J. Carpenter interjected. Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : No, that is where the member for Willagee is wrong. Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Under the Carpenter government in the budget brought down last year, state debt went as high as I am indicating with my hand. I do not have a problem with that, but we will provide the same financial information in an environment of increasing debt that the previous government provided; that is, information that is contained in the budget. I am not going to make 10 or 15-year assumptions. Point of Order Mr E.S. RIPPER : Mr Speaker, the Treasurer’s answer appears to be a refusal to answer the question, and I ask you to direct him to cover the issues raised by the member for Victoria Park. The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
The SPEAKER : The Treasurer has the questions before him. I ask him to answer them. Questions without Notice Resumed Mr T.R. BUSWELL : The point I am making is that we will outline our financial plan at budget time. We will outline our plan at the time of the midyear review in exactly the same way that the previous government outlined its financial plans at that time. That is what we will do. In due course debt will decline and the member for Victoria Park will see that outlined at the appropriate time in the appropriate document, which is the budget document. Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Several members interjected. Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : In the meantime every million dollars of debt that goes to building houses in this state keeps 13 extra Western Australians in employment. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : Says the Master Builders Association. Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr B.S. Wyatt : Says who? Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : The member for Victoria Park disagrees; and says the Housing Industry Association. Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr B.S. Wyatt : Is there any DTF modelling on that? Is there any Treasury modelling on that? Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
Mr T.R. BUSWELL : That is information from those associations. I am happy to support their claim.
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