WA 1 billion in the red
TREASURER Mike Nahan has confirmed the sizeable budget deficit to be announced in Monday’s mid-year review is in the “ballpark” of $1.3 billion.
The Sunday Times revealed the Barnett Government is facing a budget deficit of more than $1 billion after the plunging iron ore price blew a hole in the state’s coffers. It comes five years after the Premier promised he would never lead a government in the red.
http://www.perthnow.com.au/news/western-australia/wa-government-facing-13-billion-budget-deficit-in-mid-year-review/story-fnhocxo3-1227163202189?nk=dbd3460ff5637ec7833a91cef96aa11a
Barnett likes to blame the GST system but as one comment on the article points out he as teasurer signed WA up to the GST. It was all sweetness and light then accordibg to him. Like Howard who created the structural deficit Barnett thought the mining boom was forever ie pixies in the garden.