Treasurer Ben Wyatt is set to ask parliament to borrow $11 billion to help deal with WA’s crippling debt and to ensure the state doesn’t run out of money by the end of the financial year.
Just after Labor smashed the Liberal party at the polls in March, Premier Mark McGowan said the party’s first piece of legislation would be to introduce a Loan Bill so it can borrow money to keep the WA economy afloat.
Photo: WAtoday
Mr Wyatt is expected to introduce the bill on Tuesday to borrow the $11 billion from financial institutions, making it the biggest loan in WA’s history.
Last month, Mr McGowan declared WA’s financial situation the …
Read the full article at: http://www.watoday.com.au/wa-news/mcgowan-government-to-borrow-11-billion-to-help-pay-bills-20170515-gw50ol.html