2023-24 WA State Budget Overview - Budget Highlights and Key Initiatives

Budget Highlights and Key Initiatives

The 2023-24 Budget delivers cost of living support for all Western Australians and draws on WA’s responsible budget management to provide further significant investments in our health system, boost housing supply, and continue WA’s transition to clean energy.

The Government’s strong budget position means significant investments can be made in what matters to Western Australians, while not burdening future generations with mountains of debt.

Key initiatives include:

$715 million to deliver further cost of living relief, providing every WA household with a $400 electricity credit, with targeted electricity support totalling $826 for those households in most need.

A record $2.7 billion of additional investment in our health and mental health system, bringing the total new investment to $10 billion this term, to deliver quality healthcare for Western Australians, with more beds for our hospitals, more nurses and doctors, and reforms to ease pressure on our emergency departments.

$750 million of additional investment to boost housing supply and housing choice, particularly supporting those in need, with a $450 million top-up to the Social Housing Investment Fund, increasing our commitment to deliver 4,000 additional social houses.

Taking action on climate change, with a $3 billion investment including delivering the Government’s plan to decarbonise electricity production and move towards cleaner, affordable, reliable energy, as well as progressing works on Perth’s third desalination plant and a range of other climate initiatives.

An additional $463 million in economic infrastructure and diversification initiatives taking total new investment in this term of Government to more than $3.8 billion to set up our State for the long-term, supporting ongoing and future jobs.

The WA Budget continues to be in a strong position, with a $3.3 billion surplus expected in 2023-24, a sixth consecutive year of surplus, after record deficits under the previous Liberal National Government.

The McGowan Government has now reduced state net debt by almost $16 billion compared to the projections left by the Liberals and Nationals, already saving WA around $4.3 billion in wasted interest payments.

Download the Budget Overview