Chas Hopkins has squarely pointed the finger at WA’s GST Revenue shortfall as the real cause of the ballooning State Debt of $44 Billion, which was reported by ratings agency S&P Global on Friday.
Chas said;” The GST Rip-off has created a $73 Billion hole in WA’s economy, nearly double the size of the State Debt. If WA was receiving it’s rightful share, we would have no debt and $29 Billion in the bank. On top of that, WA would have kept its Triple-A credit rating which means the state would pay less in interest.”
“People need to realise how big this problem is”, he added, “our schools, police, health, infrastructure and other major State Government departments are all suffering from massive spending cuts while the costs of services like electricity and water are sky-rocketing. It’s a perfect storm… it’s seriously affecting all of us.”
“No one can escape from this, 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. Even some of the largest and oldest companies are in trouble, as demonstrated by the failures of Diploma, Builton, Cooper & Oxley and others in the last few months.”
S&P Global said that the Government was facing an uphill battle to reduce the State’s debt, projected to be $56 Billion by June 2019. This equates to around $22,000 for every man, woman and child in WA.
“This makes me very angry”, he said, “we are being bulldozed by the eastern states and I for one, won’t put up with it.”
Chas Hopkins is a former Lord Mayor of Perth who has recently registered Put WA First as a political party formed to fight for a fair GST dividend for WA.