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$24m competition penalty for WA

FEDERAL Treasurer Peter Costello has confirmed Western Australia will forego almost $24 million in payments for 2005-06 under the National Competition Policy, which will provide $834 million in funds to the states.WA is the biggest loser, with Queensland receiving permanent deductions of $7.8 million and South Australia $9.1 million. WA could have received $79.4 million, on top of reimbursements from last year of $15.4 million, but the combined total of these two payments will be only $71 million after the $23.8 million permanent deduction is included.The big winners are NSW with $292.5 million, with no deductions, and Victoria with $197.9 million, also without deductions.

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