Hon Christian Porter BA(Hons) BEc LLB(UWA) MSc(Dist)(LSE) MLA

Hon Christian Porter BA(Hons) BEc LLB(UWA) MSc(Dist)(LSE) MLA

Former Treasurer; Attorney General

    WA remains the investment leader of the nation

    1/02/2012 12:00 AM
     
    • WA accounts for more than a quarter of all construction projects under way in the nation
    • One third of all projects committed to or under consideration
    • Mining projects account for 46 per cent of all projects committed or under construction in Australia
    More than $89.5billion worth of projects are currently under way in Western Australia, representing more than a quarter of all construction in the nation.

    According to the Deloitte Access Economics December quarter 2011 Investment Monitor released today one third of all projects ‘committed to’ or ‘under consideration’ in the country are also in WA, valued at $140.1billion.

    Treasurer Christian Porter said this pipeline of investment was up 30 per cent on the June 2011 quarter and highlighted the significant role WA played in securing the economic future of Australia.

    “While we are not immune to the pressures of the global financial markets, Western Australia continues to lead the nation with solid investment growth,” Mr Porter said.

    “Inclusive of all project status categories, the December quarter estimate is that WA has $267.2billion worth of current and potential projects, representing 29.3 per cent of the total investment committed to or under construction in the nation.”

    Deloitte’s report also noted that mining projects accounted for 46 per cent of all investment under construction or committed to in Australia. 

    “What this should signify to the Federal Government is that our nation is very much dependent on WA’s resources sector to continue to feed the national economy,” the Treasurer said.

    “However, this sector can only continue to thrive if the Government continues to invest in the infrastructure and support services required to maintain the growth of the industry.

    “If the present Labor Commonwealth Government carries the Federal Treasurer’s threats to reduce WA’s GST grant funding and to penalise growth States for earning royalty income, we will be left without means in which to ensure these sectors continue to grow.”

          Fact File
     

          Major Western Australian Government  projects under construction include:

    • $1.8billion Fiona Stanley Hospital
    • $1.2billion children’s hospital and accompanying multi-storey car park
    • $700million Burswood stadium
    • $609million Perth City Link project
    Treasurer's office - 6552 5600