BCEC Policy Briefing: Western Australia State Budget 2022-23

PublishedMay 2022
PublisherBankwest Curtin Economics Centre

This new BCEC Policy Brief assesses the Western Australia State Budget 2022-23 delivered by WA Premier and Treasurer Mark McGowan on 12 May.

Premier McGowan took advantage of the state’s strong economic performance to hand down a measured budget that balances extra investment in health services, infrastructure, diversification and climate action with debt reduction.

WA’s strong economic performance and healthy financial position has provided opportunities for a raft of targeted budget measures, but with space left to pay down $1.2 billion in existing debt.

While there are many positives to the WA State Budget, there’s room for improvement on cost of living support, applying a gender lens to budget measures, and responding to skills shortages across the state.

State Budget key measures for 2022-23

  • $400 electricity credit for all WA households
  • Household fees and charges to increase by 2.5%
  • 100% stamp duty rebates for residential units below $500,000 tapering to 50% rebate for units valued at $600,000 and above
  • 50% land tax concession for new build-to-rent residential projects
  • $2.5 billion investment in health, mental health and COVID-19 response measures
  • $1.3 billion to diversify the WA economy
  • $33.9 billion investment towards new infrastructure, including $12 billion in projects targeted at regional WA
  • $652 million on climate action and environmental protection initiatives
  • $350 million for remote Aboriginal communities

Read the full policy brief for further analysis and commentary on the WA State Budget.