WA State Budget 2024: $762m in cost of living support including $400 electricity credit

The 2024 State Budget news is coming thick and fast out of the Premier’s house this week, and today State Treasurer Rita Saffioti announced WA’s sixth surplus in a row.

And while the expected $3.2 billion operating surplus is lower than first forecast thanks to Metronet’s costs going up, it will provide $762 million in new cost of living support for families, according to the Government.

“Our responsible financial management and strong economy mean we can deliver this support without leaving behind a mountain of debt for future generations,” said Premier Roger Cook.

“Whether you’re in the regions or the suburbs, and no matter your circumstances, we’re providing relief for you and your family – because I’ll always do what’s right for WA.”

An immediate win as part of that $762 million will be another $400 electricity credit for WA households and small businesses.

This will be rolled out to 1.1 million households across two instalments – the first in July followed by another in December.

There will also be additional support through the Energy Assistance Payments program, bringing total energy bill assistance to $734 for approximately 330,000 eligible households (pensioners, veterans, Health Care Card holders).

“These initiatives put more money back in the pockets of households, as well as provide them with cheaper travel – whether it’s our pensioners and families in the regions, public transport users in the metro area or schoolkids right across the State,” said Treasurer Saffioti.

Find out more about this year’s State Budget at ourstatebudget.wa.gov.au.