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Premier Collin Barnet and his government may be on the verge of bankruptcy, a new information revealed by the Labor Party suggests. In 45 days the WA government will run out of money – Shadow Treasurer Ben Wyatt said.
The Western Australian Parliament is debating today a bill introduced by the Liberal government that seeks authority to borrow 1.7 billion dollars to cover necessary expenses like wages of nurses, police and teachers. Absent of this bill the WA Liberal government would not be able to meet its obligations to the public services workers.
“This is the government, which has not had financial plan and financial strategy, it always has to rush in legislation for authority to borrow yet more money” – Shadow Treasurer Ben Wyatt criticised Liberal Government in a special video message.
The Western Australia opposition party informed also that from 2009 the Barnett government borrowed extra 22 billion dollars to fill the gaps in its budget.
“It’s another loan bill to borrow more money despite our record state debt… your children will be paying for Colin Barnett’s and Mike Nahan’s mismanagement” – Mark McGowan, the leader of WA Labor commented on his Facebook page.
The discussion on the Loan Bill 2016 began yesterday in the State Parliament when Mr. Wyatt asked Treasurer : “Why did the Treasurer wait till the last sitting day of August to introduce this legislation, given that he knew at the time of the state budget that this Loan Bill would be required?”
Treasurer Dr. Nahan replied that the government was waiting for the result for 2015-16 whether a loan bill would be needed.
“We achieved a substantial reduction in overall borrowings, as the member will see, but the deficit was more or less on track. In the previous year, if my memory serves me correctly, we saw a very sharp drop in our deficit for relative forecasts; this time we do not see it” – Dr. Nahan said.
“We were not banking on it; we were waiting to see the outcomes of a number of issues before we went to the Loan Bill and determined the magnitude of it and the existence of it.”- he concluded.