Opposition Leader Shane Love MLA has criticised the Cook Labor Government’s Mid-Year Budget Review, labelling it a missed opportunity to support WA families and businesses struggling with rising costs.
Mr Love said the $3.1 billion surplus revealed in the review highlights the Government’s failure to reinvest to tackle critical issues like housing affordability, road safety, or payroll tax relief.
“This enormous surplus doesn’t belong to the WA Labor Party – it belongs to the people of WA.
But instead of reinvesting this windfall to improve lives and tackle real challenges, the Cook Labor Government is hoarding it like an election war chest,” Mr Love said.
Mr Love said the surplus was largely driven by a $2.6 billion surge in taxation revenue since the State Budget was handed down, including $1.4 billion in additional stamp duty as property prices
reach record highs.
“While young families and first home buyers are being locked out of the housing market, the Cook Labor Government is profiting off their struggles,” Mr Love said.
“For just $160 million over four year, this Government could abolish stamp duty and help around 20,000 first home buyers, easing the housing crisis. Instead, they’re prioritising their bottom line over WA families.”
Mr Love said a further r $1 billion in additional revenue from motor vehicle taxes and insurance duties was further proof the Government was profiteering from everyday Western Australians.
“WA families are paying more for vehicle registration and insurance, yet the Cook Labor Government has turned a blind eye to crucial road safety initiatives like the $276 million Safer Local Roads program, despite calls from the RAC and the WA Local Government Association.
“With one of the worst road death tolls in WA’s history, a failure to make road safety a top priority is both negligent and shameful.”
The review also confirmed that payroll tax, which is paid by thousands of small and medium businesses across WA, will soon surpass iron ore royalties as the State’s second-largest revenue
source, behind the GST grants.
“In 2025-26, the State will pocket over $6 billion in payroll tax while iron ore royalties are projected at $5.8 billion,” Mr Love said.
“It’s absurd that in a resource-rich state like WA, the weight of the budget falls on the shoulders of hardworking small and medium businesses.
“The Cook Labor Government’s refusal to provide payroll tax relief demonstrates a clear lack of support for the backbone of our economy.”
Mr Love also expressed scepticism over new funding announcements, including the $400 million fund for housing and land supply.
“These announcements are nothing more than election promise dressed up as policy. None of these programs will be delivered before the 2025 State Election.”
