Title of Panel
Turning the State's finances around
Reining in expenditure growth

The fiscal strategy for the 2020‑21 Budget focuses on supporting the economy’s recovery from COVID‑19, and creating a pipeline of jobs for Western Australians.

Since being elected, the McGowan Labor Government’s responsible financial management resulted in the budget returning to surplus and debt declining.

This strong budget position provided WA with the capacity and flexibility to respond quickly and comprehensively to COVID‑19.

STATE FINANCES AT A GLANCE

  • The McGowan Government’s focus is on supporting the Western Australian economic recovery.
  • Net debt will increase to support the WA economy, but remain affordable.
  • There have been significant write-downs in operating surpluses over the forecast period in response to COVID‑19.
  • Budget projected to stay in surplus, helping fully fund the WA Recovery Plan and the record infrastructure investment, creating WA jobs.
Page reviewed 8th October2020