Business News

Broader praise for Western Australia’s ‘ironclad budget’ has been accompanied by industry calls to build the state’s investment appeal and diversify the economy.

S&P Global Ratings said WA’s robust economic growth, a historically tight job market, and lofty iron ore prices were buttressing the state’s fiscal performance.

Despite describing the budget as ‘ironclad’, the ratings agency observed the state government’s commodity price assumptions were conservative by anticipating a big drop in the iron ore price to a long-run average of $US66 per tonne.

It was also bearish on WA’s infrastructure plans due to a shortage of skilled labour.

To read the article in full, including comments from UDIA WA CEO Tanya Steinbeck, click here.