Securing Western Australia's long-term future as an economic powerhouse by building on the boom is the key to the 2006-07 State Budget, Premier Alan Carpenter said today.
Mr Carpenter said the Government had delivered its sixth successive Budget in the black, with every cent of the projected $1.275billion operating surplus in 2006-07 to be used to fund infrastructure and cut debt.
"Our State's financial outlook has never been better," the Premier said.
"Western Australians have worked hard to put their State in such a strong position and the 2006-07 Budget aims to ensure everyone benefits from our booming economy.
"The 2006-07 State Budget enables us to build on the boom - it enables us to make decisions for tomorrow, not just for today."
Mr Carpenter said it was crucial to reinvest heavily in the State's infrastructure to ensure key services such as health, education, law and order, and public transport continued to be world-class.
Budget highlights include:
- a gift for future generations with $1.3billion of the 2005-06 surplus being used to make the Perth to Mandurah Railway completely debt free on completion. This will save up to $75million a year in interest payments, which can instead be directed to health, education and community safety;
- a record $5.2billion building program for 2006-07 ($18.1billion over four years);
- keeping rises in total fees and charges well below inflation, with a $25 average cut to compulsory third party insurance premiums, and electricity prices frozen for the sixth year in a row;
- taking action to diversify the WA economy, with a $72million boost over four years for science and innovation;
- ensuring WA has a competitive tax system by slashing taxes by $1.2billion over five years;
- building a better health system for all Western Australians with a $3.89billion investment in health services in 2006-07;
- investing in our children's future by providing $3.6billion for education and training in 2006-07, including $313million on capital works;
- making WA a safer place to live by providing $783.8million for the WA Police in 2006-07. This includes $13million to boost ranks by 130, and almost $70million in 2006-07 to plan and build 21 new metro and regional stations and facilities;
- a massive investment in water infrastructure, with $620million alone being spent in 2006-07;
- $2.3billion over four years to improve electricity delivery across the State;
- ensuring everyone benefits from the booming economy, with a $96.4million funding boost over four years for disability services;
- an extra $101.3million over four years to protect children and victims of domestic violence;
- an extra $42.9million over four years to protect the environment; and
- a massive $675million in 2006-07 on public transport - an increase of $100million on last year.
The Premier said the highlights showed the Government was committed to maintaining the right balance between delivering services, developing new industries and building the infrastructure that would continue to drive the economy forward.
"Our State is already the envy of every other in Australia but there is no way we will fall into the trap of going for short-term political gain at the expense of long-term benefits for all Western Australians," he said.
"Even in the best managed economies, boom times do not last forever so now is the time to start building for the future."
