A strong economy

Creating jobs and repairing the State’s finances
A strong economy icon

A strong economy is more than just dollars and cents. It’s about providing opportunity, security and confidence for families and businesses. The importance of partnerships with industry and business cannot be understated in the achievement of this outcome. Facilitating an economic environment that encourages private sector investment and innovation will help to create jobs and maintain strong State finances. More jobs and the repair of State finances offer Western Australians the best opportunity to participate in a strong economy.

 

Create jobs

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Creating secure jobs is the best way to ensure shared economic wealth. That is why we are aiming for an extra 150,000 jobs to be created in Western Australia by 2023-24.

What do we want to achieve?

By 2023-24, the total number of employed persons in WA will increase by at least 150,000, as measured by the Australian Bureau of Statistics (ABS).

  • A good job can offer a person purpose and satisfaction and helps them and their families participate fully in the community.
  • Secure, fairly-paid jobs with safe working conditions encourage people to spend and invest. This is key to supporting economic growth.
  • More jobs across a wider range of industries and regions mean a more stable economy that is better able to resist economic cycles.
  • The aim is to give Western Australians employment opportunities in a broad range of industries, including agriculture, manufacturing, construction, tourism, defence, education and health services, and new and emerging technical and scientific industries.

Interpreting the results

The ABS data shows total employment in WA fell by 19,000 in the period 2015-16/2016-17.  However, the outlook is starting to improve.  
An increase in total employment of 150,000 persons over the period 1 July 2017 to 30 June 2024 means more than 1.485 million Western Australians will have jobs.

The graph shows ABS data of Total Employed Persons in Western Australia from 2007-08 to 2017-18.  The target date for an extra 150,000 jobs is 2023-24.

Current activities

Election committments

  • Plan for Jobs
  • Training for the Future

Repair the State’s finances

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We are committed to getting the State's finances back on track. That is why we are returning the budget to surplus in 2019-20 and keeping it there.

What do we want to achieve?

In 2019-20, return the general government operating balance to a surplus position and maintain a surplus of at least 3% of general government revenue thereafter.

  • Strong State finances put us in a better position to support Western Australians during tough times and shows we are a responsible government that investors can deal with.
  • We will maintain a surplus of at least 3% of general government revenue once the books are balanced.
  • Meeting this target will require a continuing commitment to a disciplined approach to government spending.

Interpreting the results

An operating surplus indicates that the Government can fully fund services that we need to deliver every year — like services in health, education and transport — using income generated in that year. This means current taxpayers pay for the services they use rather than relying on future generations to pay them off.  
An operating surplus also funds the State’s vital infrastructure requirements and reduces the need to borrow. 

The graph shows Department of Treasury forecast for the General Government Net Operating Balance from 2017-18 to 2021-22.  It also shows the proposed target of maintaining a 3% surplus from 2020-21.

Current activities

  • Creating jobs and strengthening the State’s economy.
  • Ensuring a fair share of Commonwealth revenue, including GST. 
  • Maintaining responsible financial management by:
    • delivering public sector wages outcomes in line with Government wages policy
    • ensuring key service delivery agency recurrent spending outcomes are in line with budgeted expense limits in Resource Agreements 
    • wherever possible, funding new spending commitments through savings, reprioritising existing spending and identifying new funding sources.

Election commitments

  • Debt Reduction Strategy 
  • Machinery of Government changes     
  • Special Inquiry into Government Programs and Projects

Publications

Page reviewed 02 May 2019