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Ben Wyatt is setting the scene for cuts to government spending.

Royalties for Regions cuts a sensible first step

OPINION: During the state election campaign, Mark McGowan said his government would repay the state’s debt as though it were a home mortgage; now, unfortunately, he is experiencing the equivalent of mortgage stress, which comes with taking on too much debt without enough income to service it.

Treasury’s pre-election financial review projected that debt would grow from $33.2 billion in June this year to $41.1 billion in June 2020. During the election, Labor said it would achieve a modest reduction in the forecast 2020 debt to $39.9 billion.

The new government could have got lucky and begun its term with better than expected GST payments, but the reverse has happened.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/03/17

1 year TSR5 year TSR
107thFortescue Metals Group158%5%
183rdSouth3293%0%
361stWoodside Petroleum28%4%
374thAtlas Iron25%-59%
408thNorthern Star Resources21%40%
706 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

03/11/16
$6.9m Bought
23/09/16
$0 Other
23/09/16
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st-Fortescue Metals Group$9,806.1m
2nd↑South32$8,262.9m
3rd-Woodside Petroleum$5,715.9m
4th↑Atlas Iron$803.7m
5th-Northern Star Resources$787.2m
505 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

4thNev Power$5.324m
711thMark Barnaba$223k
842ndSharon Warburton$170k
Ranked by total remuneration from all listed WA companies

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