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Iron ore prices drive WA budget surplus

Julie-anne Sprague
Julie-anne SpragueRich List editor

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The nation’s iron ore miners have helped power Western Australia through the economic crisis, allowing the McGowan government to forecast budget surpluses for the next four years as it pumps a record $27.1 billion into infrastructure spending.

In his final budget before the March election, Premier Mark McGowan hailed his hard-border strategy for the rebound in WA's economic fortunes since the depth of the crisis and warned a second wave would cost at least $5.6 billion and 30,000 jobs. This assumed the virus did not hit the lucrative mining industry.

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Julie-anne Sprague co-edits our Rich Lists and covers entrepreneurs, wealth creation and investments. A senior journalist in our newsroom, Julie-anne has covered politics, property, agribusiness, retail and stockmarkets in both the UK and Australia. Connect with Julie-anne on Twitter. Email Julie-anne at jsprague@afr.com

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    Original URL: https://www.afr.com/politics/iron-ore-prices-drive-wa-budget-surplus-20201007-p5630j