The 2023-24 Budget shows that Western Australia’s economy remains strong and is expected to grow by 4.25% in 2022-23 – the strongest growth in nine years – with a record number of people in employment. The State’s finances also remain in a strong position, with net debt declining for the fourth year in a row in 2022-23 and a $3.3 billion operating surplus forecast for 2023-24.
Key Government initiatives in the Budget include: a $715 million cost of living package, including a minimum $400 electricity credit for every household; record additional investment of $2.7 billion in the State’s health and mental health systems; $3 billion to take action on climate change (including $2.8 billion for decarbonisation of the State’s main electricity grid); $750 million in additional investment to boost housing supply and choice; and a record $39 billion Asset Investment Program over the next four years.
The Budget Papers are available on the Our State Budget website.
