The Treasurer Troy Buswell has stressed that a recent report by an Auditor General on the ex-Labor Government's mishandling and misuse of the Perth Arena project has revealed that there has been a "scandalous" misuse of the taxpayer's money.

The report released today by Auditor-General Colin Murphy has fiercely attacked the way in which the previous Government handled the Wellington Street project which is now due to be opened in November of next year. The project has been delayed by three years and is also three times over budget.

Troy Buswell has asserted that the Labor, it seems, had rushed the announcement and came up with hasty budget projection to make the total cost appear more "palatable".

"A completely scandalous misuse of taxpayer money in Western Australia", he said.

While stressing that the party has managed to learn some lessons from its 2008 defeat, Opposition Leader Eric Ripper said, "That was a judgment by the community on our record, we didn't meet the full expectations of the community".