GST DISTRIBUTION —
IRON ORE PRICE
1204. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
My question without notice of which
some notice has been given was going to be to the Minister for Mental Health as
the representative minister, so I assume someone is picking that up.
Hon Sue Ellery: Yes.
Hon Dr STEVE THOMAS: Excellent;
it is to the parliamentary secretary representing the Minister for Mental Health representing the Treasurer! I note the
release today of the 2021–22 Government mid-year financial
projections statement following the September budget.
(1) What is the current spot price
of iron ore as measured by Treasury?
(2) What is the total GST income to the state in 2021–22
to date, and how does that compare with the September budget estimate?
(3) How much GST has the state government received
above the level it would have received had the Morrison federal
government not incorporated a legislated floor and a new GST deal in 2018, in —
(a) 2019–20;
(b) 2020–21;
and
(c) 2021–22 to date?
(4) Will the
government finally acknowledge that the support of the commonwealth and the
mountains of cash coming in from iron ore are the real reason for the massive
surpluses enjoyed by this government?
Hon SUE
ELLERY replied:
The answer is in my file—I
do not know why that is, but anyway. I thank the honourable member for some
notice of the question.
(1) It is $US107.l0 a tonne.
(2) In the
September quarter of 2021, the state received $790 million in GST grants and $2
115 million from the commonwealth-funded 70 per cent floor grant. These amounts
are consistent with the state budget.
(3) (a) The amount was $1 248 million, which included an
advance payment of the commonwealth-funded 70 per cent floor grant in
late 2018–19;
(b) it was $1 547
million; and
(c) it was $2 284 million.
(4) The surpluses
are a result of the effective management of COVID-l9 and keeping our economy
strong, significant budget repair efforts over this government's first
term, and ongoing disciplined management of the state's finances. It
was the McGowan government's efforts to campaign constructively to the
commonwealth that won a fairer share of the GST for Western Australia,
including calling for a review by the Productivity Commission. This is unlike
the previous Liberal–National government, which failed for years to
achieve a better GST deal for Western Australia but spent billions on the state's
credit card, as though a deal had been done.