Thanks to Colin Barnett's reckless spending, it has managed a wafer-thin surplus of only $175 million, which will drop to only $5 million in 2015-16.
Budget papers confirm that the Barnett Government has slugged Western Australians with a massive $1.1 billion worth of additional taxes and levies and at least additional $324 in household charges.
The budget also confirmed that under Colin Barnett, State debt has increased from $3.6 billion in 2008, to $25 billion in 2014-15. It is expected to reach $29 billion in 2017-18.
The Barnett Government's wasteful spending has outstripped strong revenue growth.
In 2013-14, revenue increased by a very healthy 8.8 per cent while the Government's spending has ballooned to 9.1 per cent. This continues the long term trend of average annual spending growth of 10 per cent each year under the Barnett Government.
Electricity prices will rise 4.5 per cent; water bills will rise 6 per cent; public transport fees will rise 4 per cent and car registration fees will rise 3 per cent.
The landfill levy, which applies to every WA household, will also double. Incredibly, only 25 per cent of the extra revenue generated will go into initiatives to reduce or re-use waste.
These increases are on top of the 48 per cent increase to fees and charges the Barnett Government has imposed since elected.
Shadow Treasurer Ben Wyatt has responded to this horror budget by outlining the impact Barnett's fiscal mismanagement will have on the community.
"Colin Barnett has made no effort to control his spending and has simply looked to increase taxes to fill his spending black-hole.
It is the families of Western Australia that will be paying for the financial mess that has been created by six years of the Barnett Government.
This budget again confirms that the Barnett Government has no financial strategy and suffers from the reality of the results of dysfunctional financial management of seven Treasurers over six years.
Despite cutting services, destroying Royalties for Regions and increasing taxes the State's net debt position will continue to rise to an unsustainable level of $29 billion.
Let's not forget that just two years ago, then-Treasurer Christian Porter delivered his Budget on the basis that net debt would be ‘peaking' in 2014-15. Yet, here we are and net debt continues to rise every year until at least 2018.
The budget is structurally unsound and under the Barnett Government, Western Australians are being left in a worse financial position every year.
The Barnett Government has no economic vision to fix the damage it has created and no financial plan for Western Australia."