Article by Sarah-Jane Tasker courtesy of the West Australian.
Is this as good as it gets? A State with a booming surplus, an economy tipped to grow faster than expected and unemployment hovering at record lows.
We continue to be warned of tougher times ahead as cost-of-living pressures bite but that reality is yet to set in.
Premier Mark McGowan revealed on Thursday the forecast surplus for 2022-23 has been upgraded to $1.844 billion — mostly thanks to mining royalties.
Plus, our economy is now expected to grow by 3 per cent this financial year — a full percentage point higher than tipped in May.
We also had unemployment figures out on Thursday, with WA at 3.5 per cent.
It’s almost an embarrassment of riches at a time when other countries are talking of recession.
Once again, just like it did during the global financial crisis, the dirt and rocks buried in the Big State provide a lucrative windfall that continues to make our economy the envy of the world.
McGowan’s public purse is bursting at the seams thanks to our resources sector, a little fact he might want to keep in mind when the industry needs him as they battle against his mate Anthony Albanese.
The Premier didn’t publicly back the miners as they voiced concerns about Albo’s IR Bill or his intervention in the energy market.
But if big business needs to tackle the PM next year, they’ll be looking to McGowan for more vocal support against his Federal colleagues.
After all, they are the reason we are the “Lucky State”.
