Final Parliamentary day this financial year reveals the wealth pouring in

Jun 24, 2021 | State News, Steve Thomas MLC

The Shadow Treasurer Dr Steve Thomas has today used the final sitting day of Parliament this financial year to get the latest indication of the wealth of iron ore royalties pouring into the Government’s coffers.

“The McGowan Government has received twice the normal level of royalty income; far higher than any Government that has gone before it” Dr Thomas said.

“At the same time, they have a crisis of confidence in Government services.”

The Government today confirmed the current Treasury measure for iron ore was US$216.20 a tonne, and the average price this financial year to date is US$152.30 a tonne.

“At a time that the Government is wallowing in an embarrassment of riches, there is no excuse for the lack of performance in any area of Government” Dr Thomas said. “When you look at the health crisis and the housing crisis though, you would have to say that the wealth is not getting down to the parts of the community who need it.”

“We are on track for a $10 billion royalty income and a $5 billion surplus this financial year, and despite this we have seen lack of performance. There has never been a better opportunity to invest in the Western Australian community, but the Premier is determined to sit on his pile of cash like Scrooge McDuck.”

“This Government has delivered no excellence, no debt reduction and no tax relief, despite the ongoing influx of revenue.”
“No wonder unions will be on the attack next year on wages.”

“Happy new financial year Treasurer”