Iron ore prices drive WA budget surplus
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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