2019-20 Revenue and expenditure

Revenue & Expenditure at a Glance

The McGowan Labor Government has turned the State’s finances around, with the Budget returning to surplus in 2018‑19, in just its second year in office. The operating surplus is the first in five years and shows that the Government’s plan to manage the finances is working.

Operating surpluses are forecast across the entire forward estimates period, including a $1.5 billion surplus in 2019‑20, and surpluses over $2 billion until 2022-23. The surpluses are underpinned by the Government’s disciplined control of general government expenses, which are projected to increase by just 1.5% in 2019‑20, and by an average of 1.3% per annum over the forward estimates period.

  • Revenue is estimated to total $31.3 billion in 2019‑20, with 66% generated directly by the State.
  • GST revenue (including top up grants) and other Commonwealth grants represent 34% of the State’s total revenue, the lowest proportion of any State.
  • Expenses are forecast to total $29.8 billion in 2019‑20, with over two thirds of this budgeted for the key priority areas of health, education, community support and safety.
  • The State is forecast to keep expenses lower than revenue in each year from 2018‑19 onwards, creating operating surpluses in each year.
  • Surpluses provide funds for new infrastructure and to pay down the high levels of debt inherited from the previous Liberal National Government.
Page reviewed 9th May 2019