WSA Public Forum – Dalkeith 20 February 2013 – a presentation by Ken Eastwood

Profli-gate – How are we paying for all these future projects?

I would like to ask you all to take your memory back to four and a half years ago.  At that time we had a very even result as to who would govern our State for the next term.  So close was the result of that last election that the future government was decided by the minority National Party.

At the time we, the voting public, were mainly concerned about Law and Order, our very much under pressure Public Health system, the inadequacy of our Public Transport and major road systems, our deteriorating Education facilities and the escalation of Perth’s cost of living.

So, having been a staunch Liberal supporter for all of my life, these comments are not about party politics but they are about how just our present Government has spent our taxpayer dollars.

With a net State debt of $3.6 billion dollars four and a half years ago, we were easily convinced that the coming mining boom would solve all of our problems. Right now, after just 4½ years of that mining boom we have a state debt projected to grow to $18.6 billion dollars by 30 June this year. That is an increase of 520% in that short period.  On current estimates our net state debt will reach $25 billion dollars by the end of the 2015-16 financial year.

Even with our recent population explosion that is an increase from $1,650 per head of population in 2008 to approximately $6,250 per head in 2012 and on current trends will reach $9,400 per head of population by June 2016. Our net share of State debt per head of population has quadrupled in just 4.5 years.   Such an increase in debt levels will have occurred during the most profitable five years in the State’s history.

But, is there any good news? Continue reading