Western Australia has had its credit rating cut to AA+ by Standard & Poors after having its AAA rating placed on negative watch after the Budget failed to address problems in funding its infrastructure projects. The report was in the business pages of the SMH but filled the front page and two other pages of the West Australian newspaper. NSW's AAA credit rating is already on negative watch.
The WA Premier Colin Barnett called for the Prime Minister, sworn in a day earlier, to 'take some leadership' and increase the GST revenue. Abbott has already told him the Federal Government will not provide any funding for urban rail projects.
In other moves NSW Planing Minister told Parliament he would delay introducing new planning laws to the lower house. This followed an admission by Planning and Infrastructure Director-General Sam Haddad that departmental staff may have unintentionally spread "inaccurate or misleading information" about the changes. This is the department that will assess the EIS for the light rail project.