Worst budget ever

May 14th, 2015 by: Kwinana Electorale Office

Colin Barnett’s descent into WA’s worst ever financial manager is complete, with the State Budget confirming $2.7 billion deficit in 2015-16 on the back of a $1.3 billion deficit in 2014-15.

Mr Barnett has taken the $3.6 billion state debt he inherited from WA Labor in 2008 and turned it into $31 billion in 2015-16.

The debt is expected to blow out to a massive $36 billion in 2017-18.

Land tax has become Mike Nahan’s cash-cow, with the former IPA director returning to the land tax well for the third time in two years, with an increase in land tax to generate an extra $826 million.

Here’s a short video of my thoughts on this budget and its impacts.

Ever wondered what the state debt looks like? Over $13,000 for every man, woman and child. The Barnett Government’s $36 billion debt will be paid for by generations to come.

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