March 2025 Quarterly Financial Results Report released

• Operating surplus of $2.8 billion recorded for the nine months to March 2025
• Surplus supporting $9.7 billion in infrastructure investment to benefit Western Australians for generations to come
• Net debt at $30.8 billion by 31 March 2025, almost $13 billion lower than projected when Labor came to office

The March 2025 Quarterly Financial Results Report released today highlights the Western Australian Labor Government's continued responsible financial management, which has provided the ability to invest in critical services and projects, while keeping net debt at sustainable levels.

The general government sector recorded an operating surplus of $2.8 billion* for the nine months to 31 March 2025.  Revenue was $1.9 billion higher than last year due to higher Commonwealth funding and tax revenue, partly offset by lower royalty income for iron ore and lithium.

Expenditure was in line with increased government investment to boost workforce numbers in the health and education sectors, subsidies to provide cost-of-living support to households and small businesses through electricity credits and increased investment in health, not-for-profits and schools.

The operating surplus has supported $9.7 billion in infrastructure spending for the first nine months of the year, with significant investments in water and power projects, including the Alkimos desalination plant, batteries and transmission lines, as well as port infrastructure projects to expand economic capacity.

Total public sector net debt was $30.8 billion at 31 March 2025, $3.1 billion below thePre‑election Financial Projections Statement forecast for 30 June 2025 and still almost $13 billion lower than the $43.7 billion project when Labor came to office in 2017.

The March 2025 Quarterly Financial Results Report is available from the Department of Treasury website at: www.wa.gov.au/organisation/department‑of‑treasury.

Comments attributed to Treasurer Rita Saffioti:

"The March quarterly report highlights our continued focus on managing the finances responsibly, while investing in priority areas including cost of living, housing, health and education. 

"Western Australia's population continues to grow faster than any other jurisdiction in the country, and it's important we continue to invest in priority areas to ensure we keep pace with demand.

"Our operating surpluses remain a critical source of funding for our infrastructure investment program, with a significant focus on projects that set our State up for the future like the Alkimos desal plant, batteries and transmission lines, as well as port infrastructure projects to expand economic capacity."

*Care should be exercised in extrapolating the annual outcomes for the 2024-25 year based on the quarterly results, given seasonal and other timing factors that impact the State's finances, such as Commonwealth grant revenue.