Moody's reaffirm Western Australia's Triple-A credit rating

International ratings agency Moody's has confirmed Western Australia's Triple-A credit rating after analysing the Liberal-National Government's financial strategy.

Moody's ranking of WA at the lowest possible level of risk follows careful management of the State's finances by the Liberal-National Government, including the introduction of an FTE ceiling; a Wages Policy; the Works Reform Plan; the Economic Audit; the Efficiency Dividend; a Capital Works Audit; and a Red Tape Reduction scheme.

Moody's announcement stated:

'We are evaluating the government's proposed plans to achieve budgetary redress in order to assess to what extent there is a clear, detailed and credible path towards reversing erosion of financial and debt positions. Over the longer term we will also be monitoring governments' resolve to implement tough measures that might be required depending on the pace of recovery of state revenues.'

Treasurer Troy Buswell said the announcement vindicated the tough decisions taken by the State Government to ensure WA can keep the cost of debt low as it invests in job-creating projects such as Gorgon, the Oakajee Port and the Ord.

"We want every dollar the State spends to go towards supporting jobs," Mr Buswell said.

"This is a great acknowledgement of the work done so far and a strong endorsement of the approach we have taken to position WA for the next economic upswing.

"The Opposition are not up to the task of offering leadership in this complex area; instead taking the lazy road of carping from the sidelines on every tough decision we've had to make.

"Today's decision by Moody's to reaffirm our Triple-A credit rating vindicates the Liberal-National Government's approach to managing the State's finances."

Treasurer's office: 9222 9111