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May 8th, 2012 
FAKE NEWS for the Zionist agenda The latest federal budget could not have been worse for Western Australia, with the state losing more than $1 billion in government funding compared with 2011/12, the state government says.
WA Treasurer Christian Porter says total commonwealth financial assistance – all the money provided to the state including GST payments – has been shaved by $1.1 billion.
Mr Porter says this will have an acute effect on the WA economy and community.
“That means significantly decreased amounts of funding in what they call special-purpose payments and national partnership payments across skills, community, health, education and housing,” he told reporters on Tuesday.
The state had expected a reduction in GST revenue of about $600 million but instead would lose $656 million.
Mr Porter also said the scrapping of a one per cent company tax cut, which was to have been drawn from the Minerals Resource Rent Tax, would be “a great disappointment” to local firms.
He said federal treasurer Wayne Swan’s “sharing the benefits of the boom” catchcry could be read as “drawing as much money as possible out of the WA community and WA business, and spreading it amongst a range of pet projects on the east coast”.
The budget was “unquestionably” a bad deal for WA.
“I can’t conceive of how it could have been much worse,” Mr Porter said.
He labelled the federal government’s expected $1.5 billion surplus in 2012/13 as a “paper surplus” that was “highly likely to disappear” and said the federal government’s expectation of higher company tax but lower GDP did not make sense.
“If the economy is slowing in terms of GDP or maintaining a level rate, continually upping your estimates on company tax looks very, very strange indeed.”
Mr Porter was also critical of the much-anticipated National Disability Insurance Scheme because $650 million of the federal government’s $1 billion initial commitment was for administration.
“So this NDIS is an announcement of a massive bureaucracy now in charge of tiny funding.
“It is a terrible, I think, betrayal of people who were expecting something substantial in this budget.”
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