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WA reaps $2 billion budget surplus

Treasurer Eric Ripper announced a massive $2.26 billion operating surplus for 2005-06, saying every cent had been spent on paying off debt. The strategy has resulted in the government recording the lowest net debt on record, with total public sector net debt down from $4 billion in 2004-05 to $3.2 billion this year. However, Mr Ripper came under fire from the Opposition and industry groups for ruling out tax cuts ahead of the next state budget in May 2007.

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