WA is heading for its toughest year in nearly two decades, Premier Colin Barnett said today - as his Treasurer forecast a $361 million deficit within four years.
The WA Government's mid-year financial projections statement released today also showed that WA's net debt was likely to rise to $16.7 billion by 2011-12 - well over the 47 per cent debt to revenue benchmark.
Whos gonna save us now ??
How long until we are just working to pay the interest bill ?
http://www.news.com.au/perthnow/story/0,27574,24818597-2761,00.html
Whos gonna save us now ??
How long until we are just working to pay the interest bill ?
http://www.news.com.au/perthnow/story/0,27574,24818597-2761,00.html
The predicted (Queensland Budget) surplus for 2008-09 has shrunk to just $54 million, with the ailing property market wiping almost $900 million from estimated stamp duty revenue.
The Government credits its infrastructure spending with keeping growth at 3 per cent - down from a forecast 41/4 per cent. But deficits of $124 million and $85 million are predicted for the next two financial years.
Wasn't it mentioned awhile ago about incresing the retirement age to 70 ?
or working until 70
Another economic disaster proudly brought to you by the whole easy money, speculation, outsourcing, privatisation, over consumption and don't bother producing anything of real value mentality we've had for years now.One of the biggest problems, is that we have had absolutely zero help for the majority of these incredibly important national projects. It just gets poured into South Australia instead.
Which means that the government has had to load itself up with debt to fund the projects for the benefit of the Australian economy, as WA was not actually receiving a positive return for some of these investments.
Another economic disaster proudly brought to you by the whole easy money, speculation, outsourcing, privatisation, over consumption and don't bother producing anything of real value mentality we've had for years now.
Qld, NSW, SA and Tas also have budget black holes for exactly the same reasons. I'm not sure about Vic, ACT and NT but I'd be surprised if Vic especially didn't end up in a mess.
No, they don't.Another economic disaster proudly brought to you by the whole easy money, speculation, outsourcing, privatisation, over consumption and don't bother producing anything of real value mentality we've had for years now.
Qld, NSW, SA and Tas also have budget black holes for exactly the same reasons. I'm not sure about Vic, ACT and NT but I'd be surprised if Vic especially didn't end up in a mess.
No, they don't.
SA has a massive budget black hole because despite absolutely monumental amounts of money being poured into SA, their people and state remain completely backward and without the ability to contribute to anything meaningful.
Meanwhile... the Henderson area just south of Perth has contributed to world class manufacturing, and despite winning the most competitive contracts in the world, can't attract funding away from a dead beat SA.
Ever been to Meeka Smurf? Some of the most important trucking routes in Australia go through here, and yet a lot of these routes don't even have sealed roads FFS!!! They were meant to be funded 15 years ago, but once again the feds don't come to the party, it goes into the pockets of South Australians, and the WA government has to use debt to pay for something that was not their responsibility.
I just don't think people understand WA at all. We have had 2 projects federally funded in the past 20 years, that I can think of. Subi centro and the Roe Hwy. The Roe was 15 years late, and was only funded because the local residents went the civil disobedience course, and it became a danger to the populace.
That's what we have to deal with in WA.
It stinks.
their people and state remain completely backward and without the ability to contribute to anything meaningful.
That's what we have to deal with in WA.
It stinks
Mitsubishi is a prime example.Try and be a little more specific
That's what happens to banana republic economies.
Wasn't the resources boom supposed to last another 30 years? China was going to save us, and we were all going to live as kings, thanks to our export of unprocessed rocks.
That's what happens to banana republic economies.
Wasn't the resources boom supposed to last another 30 years? China was going to save us, and we were all going to live as kings, thanks to our export of unprocessed rocks.
The problem is though, WA has always been a boom/ bust economy.
But one of Gallop's many visions, was to actually use a boom to get us out of that cycle.
Unfortunately because of the theft by SA amongst otherswe can't use it, because we aren't allowed to keep the money we generate to get out of that cycle. Even though we have shown to be very very good when it comes to investing as a state, and say, SA has been absolutely ****ing useless, much like their people. And yet they get good money after bad thrown at them.
I mean... all of this boom's capacity was due to Dick Court's vision 15 years ago, which was carried through with Gallop and the Burrup plans that he followed through on...
I don't see any of that sort of vision happening anywhere else in Australia, and it sure as hell wasn't invested in by anyone else but WestERN Australians... yet it's the rest of Australia that benefits...
IT IS NOT THAT SIMPLE!It's really up to WA to charge as higher royalties as they can get away with. There have been grumbles going back to the 1930's, very similar to those of Scotland in the UK.
Basically, build up cash in boom times to level out the downturns, very simple really.
But we've got Labor up hereSounds familiar...
The predicted (Queensland Budget) surplus for 2008-09 has shrunk to just $54 million, with the ailing property market wiping almost $900 million from estimated stamp duty revenue.
The Government credits its infrastructure spending with keeping growth at 3 per cent - down from a forecast 41/4 per cent. But deficits of $124 million and $85 million are predicted for the next two financial years.
Which is why Ms Bligh has slapped on an extra approx $100 per car rego, and a "swimming pool inspection fee" of $300.
No doubt more to come.
But Julia,Which is why Ms Bligh has slapped on an extra approx $100 per car rego, and a "swimming pool inspection fee" of $300.
No doubt more to come.
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