The ‘wonderful success story’ of Western Australia is ‘going to evaporate’

Business columnist Terry McCrann says the “wonderful success story” of the Western Australian budget surplus over the last 18 months is “probably going to evaporate” as iron ore prices plunge.

“It’s the only budget in the country in surplus … precisely because of the iron ore revenues.

“If the price stays where it is, the budget will go in the red in WA.”