WA supercharges the surplus to $19 billion
Strong commodity prices and WA’s powerhouse resources sector have played an “outsized” role in boosting the Federal Government’s coffers, with the Budget surplus ballooning to $19 billion at the end of May. New figures from the Department of Finance show a surge in company and personal tax payments underwriting a stronger than expected result. Receipts from the resources sector was one of the biggest contributors. Mr Albanese argued strong export links would be paramount to ensure unemployment levels remained low. “One in four Australian jobs depend on international trade and that ratio is only going to increase as the economic transformation under way in our region, the fastest growing region of the world in human history, gathers pace,” he told the Australia-Israel Chamber of Commerce on Friday.
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