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GrantReady > BLOG > Business > Western Australian State Budget 2024-25 Highlights

Western Australian State Budget 2024-25 Highlights

Friday, 10 May 2024
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Published in Business

GrantReady’s Federal Budget 2024-25 analysis, released on the 14th May, can be found here.

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The 2024-25 WA State Budget was handed down Thursday, 9 May 2024. Here are some highlights:

Economic diversification and energy transition

This Budget delivers $1.8 billion to diversify and decarbonise WA’s economy, including:

  • $500 million Strategic Industries Fund to unlock WA’s strategic industrial areas and pave the way for WA to become a global leader in clean energy.
  • $53 million to establish a Founders Factory accelerator in WA to support entrepreneurs and start-ups, as well as to continue STEM initiatives, support growth in the State’s space industry and for new exhibits at Scitech.
  • $352 million boost for tourism including a major Outdoor Adventure Tourism package to upgrade tourism facilities around the State and support regional businesses.

Investing in WA regions

This Budget invests in what matters for regional WA, with $4 billion allocated to Royalties for Regions over the next four years. This includes:

  • $65 million to extend the Regional Air Zone Cap Scheme.
  • $60 million in grants for regional community housing providers to deliver new and refurbished housing.
  • $30 million for additional bushfire mitigation and frontline resources at priority locations.

Investing in housing and homelessness initiatives

This Budget delivers $1.1 billion for housing and homelessness. This includes:

  • $400 million additional funding for the expanded Social and Affordable Housing Investment Fund
  • $85 million to boost the capacity of our residential construction workforce, including:
    1. $21 million for an additional 150 places to subsidise wages for new apprentices and trainees for Group Training Organisations.
    2. $37 million to provide incentives to complete apprenticeships, including tool allowances and milestone payments.
  • $5 million for $5,000 incentive payments to encourage owners of vacant homes to make them available on the rental market.

Delivering cost of living support

This Budget includes more than $762 million in cost of living measures to support WA households and small businesses. This includes:

  • $492 million to deliver a fourth electricity credit, with $400 of assistance to all households and more than 90,000 small businesses.
  • Additional energy bill relief will be provided to those most in need, with $734 of support for pensioners and at least $1,086 for eligible families.

Investing in education and training

This Budget includes a record additional $1.3 billion for education and training initiatives. This includes $195 million investment in training:

  • $85 million to expand the capacity of our construction workforce.
  • $26 million for the Year 9 Career Taster and TAFE Return to Industry initiatives.
  • A $22 million boost for private training delivery.
  • $13 million to extend the Heavy Vehicle Driver training program in the South West and the Skilled Migrant Job Connect program.
  • A further $8 million to continue Free TAFE courses.

Supporting WA women

This Budget invests in services and initiatives to improve women’s health, wellbeing, safety and workforce opportunities, including:

  • Funding for the Women’s Grants for a Stronger Future Program, with a $1.4 million boost over 2023-24 and 2024-25.
  • Commencement of the $3 million TAFE scholarships program for up to 400 women to undertake training in non-traditional trade and technical occupations, including STEM and building and construction.
  • Roll-out of $2.4 million in funding through the Women’s World Cup Legacy Grants program, with women’s National Premier League teams eligible for up to $300,000 each towards infrastructure and facility improvements that support women’s participation.
  • $24 million WA Rent Relief Program to help families and women at risk of eviction.

Arts, sport, recreation and tourism

This Budget continues to invest in tourism, recreation, sports and the arts, making WA a vibrant place to visit and live, including:

  • $165 million for a new Outdoor Adventure Tourism package that will allow Western Australians to enjoy natural attractions and will drive regional tourism.
  • $37 million for other tourism initiatives to continue to attract international and interstate visitors, secure unique and major blockbuster events, and create a new Metro Events Program to support more local events.
  • $13 million to fund a screen industry workforce development plan and encourage digital games production, bringing investment under the WA Screen Industry Strategy to $32 million.
  • $7 million top-up to the Community Sporting and Recreation Facilities Fund, bringing total investment in 2024-25 to $26 million, supporting 35 projects across the State.

Aboriginal wellbeing

This Budget delivers almost $300 million in further investments focused on Closing the Gap and which specifically or predominantly promote Aboriginal wellbeing, including:

  • $9 million for Jobs and Skills Centres Aboriginal support funding, the Aboriginal Business Capability Building Program and financial counselling services delivered by Aboriginal Community Controlled Organisations.
  • $8 million for the Driver Access and Equity Program supporting employment and economic opportunities through better access to vehicle licence training.
  • $12 million for the Aboriginal Social and Emotional Wellbeing Program providing mental health support in five communities, including one youth specific program in the Kimberley, delivered by ACCOs.
  • $3 million for the Aboriginal Community Connectors Program to improve community engagement and safety.

Budget papers can be found here.

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