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Parliamentary Questions

Question Without Notice No. 817 asked in the Legislative Council on 8 November 2017 by Hon Robin Scott

Parliament: 40 Session: 1
Answered on 8 November 2017

GOLD ROYALTY RATE INCREASE — REGULATIONS
      817. Hon ROBIN SCOTT to the minister representing the Treasurer:
      (1) Is it true that the government intends to increase the rate of gold royalty by regulation before 30 June 2018?
      (2) Will the Treasurer give a commitment that there will be no increase in the rate of gold royalty prior to the next general election in Western Australia?
      (3) Will the Treasurer give a commitment that there will be no increase in the rate of royalty for any mineral prior to the next general election in Western Australia?
      (4) Has the Treasurer any explanation for current rumours to the effect that the government intends to increase the gold royalty by gazettal on Friday, 8 December 2017?
Hon STEPHEN DAWSON replied:
I thank the honourable member for some notice of the question.
(1) The government is continuing to consult with industry on an approach to a gold royalty rate change.
      (2)–(3) The government will not rule in or rule out budget repair measures. Agreed budget repair measures will be announced in due course. As noted by Standard and Poor's global ratings in its recent credit rating assessment, the government does not have the luxury of ruling out possible budget repair measures. The release states —
          At the time of writing, the proposed gold royalty hike was being blocked in the parliament. (We expect that the government will enact other measures to make up this revenue if the legislation is ultimately unsuccessful.) These policies indicate the government's willingness to improve budgetary performance during the next few years.

          We could revise the outlook to stable if we perceive that the government remains highly committed to improving its budgetary performance, such that it's likely to sustainably return its budgetary performance to cash operating surpluses and stabilize its debt burden. This commitment would be demonstrated by its spending and revenue policies and their successful implementation, �
(4) The government is continuing to consult with industry on an approach to a gold royalty rate change.