Eric Ripper

Eric Ripper

Deputy Premier; Treasurer; Minister for State Development

    Treasurer welcomes passage of hospital Bill

    29/08/2007 8:54 PM

    Treasurer Eric Ripper today welcomed the passing of the State Government’s Fiona Stanley Hospital Construction Account Bill through the Legislative Assembly.

    Mr Ripper said the new state-of-the-art hospital would be an excellent example of how the State Government was reinvesting the Budget surplus into services and infrastructure for Western Australians.

    “We are setting aside $1.09billion from the 2006-07 cash surplus for this project and I am delighted that this Bill has gone through the Lower House without amendment,” he said.

    “I hope the Bill now has a smooth passage through the Upper House.”

    The Treasurer said the State Government would use the 2006-07 cash surplus to build and establish the hospital, meaning that the major new piece of crucial infrastructure would be fully funded without the need to borrow and with no debt servicing

    He said the hospital and the $1.613billion MetroRail project were two of the biggest public sector capital works projects ever undertaken in WA and both had been fully funded from Budget cash surpluses.

    Mr Ripper said that in the last three years the Government had used cash surpluses to retire or avoid about $2.4billion of debt, saving the State about $150million per year in interest payments.

    “This is money that can now be redirected to service delivery in areas like health, education and law and order,” he said.

    “By reinvesting Budget surpluses in infrastructure and services, we are ensuring that all Western Australians are benefiting from our economic prosperity.”

    Treasurer's office - 9222 8788