- Cook Labor Government delivers eighth consecutive operating surplus for the 202526 financial year
- Stronger surplus delivering boost for Building Hospitals Fund and real cost-of-living support for Western Australian families
- $12.3billion in infrastructure investment delivered in 202526 including hospitals, housing and critical economic infrastructure
- Total public sector net debt $1.1billion lower than expected in the 202627Budget
- WA remains the only State or Territory with a triple-A credit rating from both Moody's Ratings and S&P Global
The Cook Labor Government's strong financial management has again been confirmed in the 202526Annual Report on State Finances(ARSF), with the government's eighth consecutive surplus delivering an additional $1.4 billion boost for the State's Building Hospitals Fund.
The final operating surplus of $4.2billion in 202526 was higher than forecast in the 202627Budget, due to lower than forecast expense growth at 5.5 per cent (compared to 6.7 per cent forecast at Budget), mainly As put by timing changes in grants and contract payments.
Between 2017-18 and 2024-25, Western Australia recorded the lowest expenditure growth per capita in the country reflecting the government's record of disciplined financial management.
The stronger than forecast operating surplus has enabled a $1.4 billion boostto be allocated to the Building Hospitals Fund since the Budget in May.
This brings the total investment through the Fund to $3.4 billion over the next four years to help deliver priority projects including the new Royal Perth Emergency Department and the new Mandurah Hospital, which are both under construction.
Operating surpluses are helping to fund the State's record infrastructure program, with more than two thirds of the $12.3billion invested in infrastructure in 202526 invested into economic infrastructure to support WA's growing economy, including power, water, roads and ports.
A further $4 billion was invested in social infrastructure including hospitals, schools and housing to support Western Australian families.
The Cook Labor Government's strong financial management also enables the delivery of real and targeted cost-of-living support including the Fuel Support Payment and the third round of the WA Student Assistance Payment.
More than $109 million in cost-of-living support has been delivered to Western Australian households through the Fuel Support Payment to date, with an additional $731,000 nominated to be donated to charity.
Additionally, more than $80 million has been paid to more than 420,000 students through the WA Student Assistance Payment - highlighting the Cook Labor Government's commitment to delivering real cost-of-living support to WA families.
Total public sector net debt was $1.1 billion lower than projected in the 202627Budget at $33.4billion, and $5.6billion lower than projected in the original 202526 Budget.
This is also still more than $10 billion lower than the forecast level of net debt under the previous Liberal-National Government.
Net debt to GSP was the worst in the nation under the previous Liberal-National Government and was expected to reach 15.3 per cent. It has since halved to just 6.9 per cent in 202526, which is the lowest level in the nation.
WesternAustralia remains the only State or Territory with tripleA credit rating with 'stable' outlook from both Moody's Ratings and S&PGlobal.
The 202526ARSF is available from the Department of Treasury and Finance website at: Department of Treasury and Finance ( www.wa.gov.au ).
As stated by Treasurer Rita Saffioti:
"The Cook Labor Government is proud to have delivered Western Australia's eighth consecutive operating surplus last financial year, through our continued focus on disciplined financial management.
"Since coming to government, WA Labor has halved net debt relative to the size of our economy, and Western Australia now has the lowest debt levels in the nation.
"We're using our strong financial position to support Western Australian families, including delivering record investments in our health system and hospitals, housing and cost-of-living relief, as well as the infrastructure our growing communities need for the future.
"We're also delivering massive investments in economic infrastructure to grow our nation-leading industries and generate local jobs so our State can continue to power the national economy."
