I couldn’t believe what I was reading when I saw state debt will be up $10b over the next 4 years to a record $44b. This is on top of forecast surpluses of $15b over the same period.
The year on year interest bill on $44b will be around $2b without even starting to pay down the principal. Imagine what could be done with $2b instead of giving it to financial institutions.
This mob’s spending is out of control and when the price of iron ore drops, we’re in deep shit.
Have to do a small response BC. The state debt is 7% of the turnover which down 6%from inherited figure and 12% less than most other states. Debt is a function of a lot of economic processes and something that exists no matter the fiscal strength of an economy.
Dumbess thing is the $100 per license holder even if they drive an electric vehicle, really silly!
Last I understood the budget works on around $80 per ton for iron ore which is still at or around $100 per so at least they are not using the Barnett idea of $10 more than the price at the time of his budget hence the over spend.
I don’t not really care who is in power as long as they try to keep us going forward and whilst the Cook cohort can do a lot better I think they are better than the Noses cohort.
It amuses me enormously that everyone wants and wants and then wants some more. All the bleeding heart brigade just want and cannot really justify the money they get already, case in point is the RSPCA, get millions for what- an overcrowded dog and cat home!
Tiny amount BC, we have the smallest debt to state GDP in the country, its litterally nothing, Vis is running 199 Billion Debt with nothing coming in…
No one cares about debt at WA levels.
Every other state is wishing they had our problems.
That said some bizarre stuff, what is the go with the 1500 public sector redundancies, when the state is desperate for workers and services?
Bit harsh on the RSPCA having worked in the prosecution space right alongside them they do some amazing and hard work in the animal cruelty area, you clearly need to spend some more time reading the briefs if you think they only do over crowded cat homes, some really terrible things go on out there, if anything they need more funding.
How’s this for a radical idea - lower the tax take and stop playing vote bribing Santa. You can stick the pissant $100 “gift” (which is actually from me anyway) up your arse.