- Operating surplus of $422 million recorded for the three months to September 2024
- Record September quarter infrastructure investment into pipeline of transformational projects and priority programs to set the State up for future success
- Enabling continued record investment into what matters to Western Australians
The September 2024 Quarterly Financial Results Report released today highlights the Cook Labor Government’s strong financial management and significant investment in infrastructure.
Infrastructure investment in the September quarter totalled $3.1 billion – which is $796 million or 35 per cent higher than the same period in 2023-24.
This spend is reflective of the Cook Labor Government’s record $12.1 billion pipeline of priority infrastructure projects in 2024-25, such as energy and the transformational METRONET program which will shape the future of WA, including the new Ellenbrook Line which starts operating next week.
The Cook Labor Government’s commitment to delivering priority infrastructure for Western Australians is supported by sustained strong operating surpluses – including in the September quarter where the general government sector recorded an operating surplus of $422million*.
General government revenue for the first three months of 202425 was $809million higher than the first quarter of last year. This outcome is mainly driven by higher taxation revenue (up$1billion) and higher Commonwealth grants (up $367million), partially offset by lower royalty income (down$572million).
General government expenses were $1.3billion higher than the same period last year. This reflects higher grants and subsidies spending (up$716million), ‘other’ gross operating expenses (up $258million) and salaries expenditure (up $249million), mainly in the health sector.
Total public sector net debt was $30.2billion at 30September2024, which remains $2.5billion below the Budget forecast for 30June2025.
The September2024 Quarterly Financial Results Report is available to view at: www.wa.gov.au/organisation/departmentoftreasury .
As stated by Treasurer Rita Saffioti:
“Once again Western Australia has delivered strong financial results, maintaining the surplus trend that our Government has become known for.
“We’ve achieved this while continuing record investment in what matters to Western Australians and setting our State up for future success.
“Keeping our debt sustainable is also vital for the long-term health of our economy, because it means we can invest more money in critical services and projects, and less on interest repayments, so it’s pleasing to see it remains $2.5 billion below the Budget forecast for 30 June 2025.”
*Care should be exercised in extrapolating the annual outcomes for the 2024-25 year based on the quarterly results, given seasonal and other timing factors that impact the State’s finances, such as Commonwealth grant revenue.
