Chas Hopkins has squarely pointed the finger at the GST revenue shortfall as the real cause of Western Australia’s ballooning debt of $44billion, which has been reported by ratings agency S&P Global.
The GST rip-off has created a $73 billion hole in the State’s economy, nearly double the size of the State debt,” he said.
“If Western Australia was receiving its rightful share, the State would have no debt and $29billion in the bank.
“On top of that, we would have kept our Triple-A credit rating which means the State would pay less in interest.”
Mr Hopkins said people need to realise the size of the problem with schools, police, health, infrastructure all suffering from massive spending cuts while the costs of services like electricity and water are sky-rocketing.
“No one can escape from this, the private sector is hurting just as much as the public sector,” he said.
“The retail and construction industries have been hit the hardest with many well-known companies on the brink of closure.”
S&P Global said the State Government was facing an uphill battle to reduce the Western Australia’s debt, projected to be $56billion by June 2019.
This equates to around $22,000 for every man, woman and child in WA.
“It makes me very angry,” said Mr Hopkins.
“We are being bulldozed by the eastern states and I for one, want to do something about it.”
Chas Hopkins is a former Lord Mayor of Perth who has recently applied to register Put WA First as a political party formed to fight for a fair GST dividend for WA.