WESTERN Australia’s Liberal Government has handed down its first Budget, delivering a $647 million surplus but warning the state will be in deficit by 2012.
Treasurer Troy Buswell today delivered his first Budget since the Liberal Government came to power last year.
He said the 2008/09 surplus of $647 million would shrink to $409 million in 2009/10, and just $23 million the following year.
By 2011/12 the state will be in deficit to the tune of $513 million.
“Over the past months, as the global economy has been in decline, the state has been hit by large downward revisions to projected taxation revenue, GST grants from the Commonwealth and mining royalties,” Mr Buswell told parliament.
“Since the mid-year review, the Budget has lost a massive $4 billion in forecast revenue from these sources.”
Last year, then treasurer Eric Ripper delivered a surplus of more than $2 billion on the back of a booming commodities sector.
Economic growth remained high at 8 per cent for the 2008/09 financial year.
But forecasts predicted growth would fall into negative territory in 2009/10, with unemployment expected to peak, and business investment to fall by 17.5 per cent.
Mr Buswell said the Government would provide a one-year payroll tax rebate to small businesses with payrolls of up to $3.2 million to help protect jobs.
“Some 6,700 small businesses will be eligible for this payroll tax rebate, which will fully offset payroll tax for around 68,000 employees,” he said.
“The cost of this rebate is estimated at $100 million.”
A $47 million jobs training and skills package, and a $8.3 billion spend on infrastructure in the next financial year are key components of the Budget.
Mr Buswell said law and order were also strong focuses, in line with the Government’s election promises to boost funding for police and pump more money into prisons
Mr Buswell said the Government’s election promise to toughen up sentencing laws and introduce mandatory sentencing for people who assault police was underpinned in the Budget by a significant investment in prison capacity.
A total of $655 million will be invested in 2012/13 to create an extra 1657 prison beds across the state.
A record $5.1 billion spend on health services in the next year – rising 5.9 per cent, or $282 million from last year – will include the fast tracking of forward works for a new children’s hospital, the construction stage of the Fiona Stanley Hospital, and new hospitals in two regional centres.
Mr Buswell said the Government would push ahead with public sector reforms in a bid to achieve improved performance and efficiency.
The first stage of the economic audit committee promised by the Government during the last election was complete and a range of hard decisions had delivered $7.6 billion over the forward estimates, Mr Buswell said.
“I am looking forward to the second stage of the economic audit to identify strategies for broader reform over the longer term, so we can ensure the budget stays in surplus,” he said.
Strategically located in relation to South East Asia, Europe and Africa, Perth Airport is Australia’s fourth largest airport in terms of passenger traffic and is the winner of the (AAAustralian Airports Association A) award for Australian Major Airport of the Year for 2003 and 2004.
$3billion proposal to upgrade Perth Airport
Posted in Local News, tagged $1 billion, $1.4 billion, $525 million, 10 years., 115 million, 2011, 2019, airport, airport’s, Asia-Pacific, August 10, best, Brad Geatches, budget, building, capital, car, chief executive, committed, departing, development, domestic terminal, escalators, existing, facilities, forward, funding, government sources, hotels, included, integrated, interfacing, international, intersection, Local News, major, master plan, multi-storey carparks., network, opened, outlines, parks, passengers, perth, Perth Airport, phased, plans, private, program, projected, public, public comment, region, road, seven, site, Terminal, Terminal WA, tonkin highway, upgrade, upgrades, Upstairs, works, years. on May 18, 2009| Leave a Comment »
Perth Airport is set for a $3 billion upgrade over the next 10 years to transform it into a transportation showpiece.
The capital works program, from private and government sources, is the biggest ever for the airport.
In line there is a $1 billion in terminal facilities, $525 million for road upgrades and $1.4 billion in hotels and multi-storey carparks.
Terminal WA is set to be opened in 2011, and an integrated international and domestic terminal on the site of the existing international terminal to be phased in over the next seven years.
Perth Airport chief executive Brad Geatches said yesterday that the airport would become one of the best in the Asia-Pacific region.
The master plan, which is available for public comment until August 10, outlines the airport’s plans through to 2019 and brings development forward 10 years.
The terminal upgrades, a new ring road and improvements to key intersections will be started over the next 12 months.
The escalators will be on the left of the building and will take departing passengers and the public upstairs. The existing facilities will be for arrivals only.
Major funding has also been committed to upgrade the road network around the airport.
The Budget included more than $115 million in projected major intersection works along the Tonkin Highway interfacing with Perth Airport.
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