Western Australian Budget Cuts
Monday May 18, 2009
In Western Australia's Budget savings, plans for a new football stadium and a Perth waterfront development have been cut as part of a $7.6billion reduction in spending.
The reduction was part of the plan to ensure that Western Australia protects its triple-A credit rating, to stay out of debt.
Treasurer Troy Buswell said that without the savings, including three per cent cuts to every government department's budget, Western Australia could fall into debt.
"This is a Government that is willing to make the hard decisions to protect our finances, to minimise the necessary increase in debt and to fight to protect our triple-A credit rating," Mr Buswell reported in Perth Now.
Despite the current conditions, Mr Buswell is forecasting a surplus of $409 million in the Budget year as well as a small surplus in 2010-11.
"Through the reprioritisation and rescheduling of major capital projects, the Capital Works Audit has delivered total savings of $3 billion across the forward estimates," he reported
"This means our scarce revenue is being focused on the areas of greatest need, such as the new children's hospital and new schools, rather than a stadium or museum."
Check out more Perth News here.
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