Industry has given a lukewarm response to the state budget, with the property sector disappointed, tourism still looking for boosts for struggling regions, while miners were concerned over a lack of certainty regarding royalties.
The state government has announced plans to put $1.1 billion of Royalties for Regions money into a Future Fund, despite pressure from business groups, which argued the government should focus on the state's immediate needs.
The state government has reshaped its capital works program, with more money to be spent on social infrastructure in the city, including a new museum, but less on regional hospitals, ports and roads.
The creation of a $1.1 billion Future Fund, a major shift in capital works priorities, tax breaks for small business and a slim surplus are the major features of the state government budget announced today.
Treasurer Wayne Swan does not perceive a need to update budget forecasts because of recent events in Europe, saying Treasury has already accounted for a bleak outlook.
Small businesses have emerged winners in Western Australia's budget to be handed down later today, with the government unveiling a $128 million payroll tax rebate.
A public sector union will be checking the West Australian government's 2012/13 budget for signs that services may be compromised because of a planned cutback to government agencies.
Federal Climate Change Minister Greg Combet is confident the international carbon market will stabilise in coming years.
From July 1, the government will make less than 500 of Australia's biggest polluters pay an initial $23 for every tonne of carbon they put into the atmosphere.
Household compensation to cushion the impact of the carbon price will start flowing to Australian families today.
An estimated 1.6 million families receiving Family Tax Benefit Part A or B will have extra pocket money delivered to their bank accounts in the next fortnight.
The state government has dismissed a report claiming the state cannot afford a Norway-style sovereign wealth fund - just as it prepares to unveil its own.
Treasurer Wayne Swan will reassure business the federal government is still on the case to reform the tax system, despite ditching a promised cut in the corporate tax rate in last week's federal budget.
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