According to Shane Wright Economics Editor, The West Australian June 6, 2013, “The WA economy has taken its biggest blow in more than three decades, with miners dropping projects and householders shutting wallets.
Economic activity across the State had its biggest contraction since the 1982-83 recession in the six months to March 31, Australian Bureau of Statistics figures reveal.
A year ago, WA's final demand was growing at an annual rate of 16 per cent. Growth is now zero.”
Bank of America Economist, Saul Eslake, declared last week that WA’s investment phase is over, revenues will be down and we need to be tough on expenditure.
As I write, ‘Ratings Agencies’ are currently looking sideways at our AAA credit rating with a view to pulling it down.
Under this Barnett Government, only last week, our flagship Childrens Hospital, PMH was described as operating under third world conditions.
In spite of all this, the West Australian Premier, Colin Barnett is ‘bloody minded’ in his insistence on forging ahead with a New Stadium on the Burswood Peninsula despite the fact that the Langoulant study determined it is the most expensive option at his disposal.
When the Premier first announced this project it was to cost $700 Million plus transport upgrades. Recent estimates by the Government put it at $900million for the Stadium, $300 Million in new Rail and Bus facilities and another $100 Million for a footbridge to East Perth. Currently it’s a whopping $1.3 Billion before the first sod has been turned and who knows how little change we will see from $2+ billion before this Barnett monstrosity is delivered.
All this for a minority group who represent around 3 percent of the State’s population and to quote one letter to the West’s Editor, a “[stadium] which will be empty by half time if the Eagles happen to be losing”.
Stop this nonsense, sign this partition which demands that the State Government and Mr Barnett abandon this Stadium folly, leave it at Subiaco and focus on protection of our AAA Rating and sound fiscal management of the State.