Western Australian Economic Response
On 5 September 2021, Western Australian (WA) Premier Mark McGowan and his Cabinet committed a further $1 billion of additional support in the 2021-22 State Budget, to be handed down on Thursday 9 September 2021. To date, almost $9 billion has been committed towards the State’s COVID-19 response and recovery.
In addition to this announcement, the McGowan Government has also newly announced record investment in Health and Social Housing.
Since the COVID-19 pandemic was declared in March 2020, to the end of the 2020-21 financial year, the McGowan government has spent or forgone revenue totalling more than $4.4 billion, to directly fund pandemic response and recovery measures. This includes $1 billion in funds towards hotel quarantine, COVID-19 testing, the vaccine rollout, and boarder controls.
The $1 billion in additional support to be provided in the 2021-22 State Budget is comprised of the following allocations:
- $605 million towards frontline workers.
- This includes adequate equipment for frontline police, health and community health and safety initiatives.
- This also includes funds for enhanced cleaning of schools and public transport.
- $219 million for increased business support.
- This includes small business grants and industry assistance.
- $182 million in other economic recovery initiatives.
The McGowan government will invest a further $1.9 billion towards WA health and mental health services.
This funding commitment includes 332 new hospital beds, 100 new doctors and 500 new nurses. 109 of these beds will be allocated for metal health.
- $495 million will be provided to the Mental health Commission.
- $487 million for COVID-19 preparedness and response measures.
- $225 towards health infrastructure, which is in addition to the $1.3 billion allocated over the next four years.
- $1.8 billion for the construction of a new Women and Babies Hospital.
The 2021-22 State Budget will include a historic $875 million investment in social housing. This includes a $750 million Social Housing Investment Fund.
This will take the total social housing investment over the next four years to $2.1 billion, delivering over 3,300 modular, prefabricated, social housing builds.
- $228 million of the $875 million will be allocated to short-term projects to increase social housing in the immediate future.
- $522 million of the $875 million will create new social homes from 2022-2023. This project pipeline is expected to provide a significant boost to local construction industry.
- Over the next four years, $168.8 million will be allocated towards the conversion of 500 affordable housing properties to social homes.
- Over the next four years, $40 million will be allocated towards social housing land purchases.
For more information, please contact your Hawker Britton Consultant Simon Banks on +61 419 648 587.