❓ Mr. Aubrey asks how the McGowan government's COVID-19 response supported the WA economy and jobs. The Treasurer highlights WA's strong economic performance, high business confidence, job growth, and an upgraded credit rating from Standard & Poor's, contrasting it with economic difficulties in eastern states.
AnsweredQoN 677Legislative Assembly
QuestionView source ↗
CORONAVIRUS —
STATE ECONOMY
677. Mr S.N. AUBREY to the Treasurer:
On behalf of the member for Bicton, I
welcome the principal and board chair of Palmyra Primary School; and, on behalf
of myself, I again welcome my mother to Parliament!
I refer to the McGowan Labor
government's strong response to the COVID-19 pandemic and its efforts
in keeping Western Australians safe. Can the Premier outline to the house how
this strong health response to COVID-19 has supported the Western Australian
economy and Western Australian jobs?
STATE ECONOMY
677. Mr S.N. AUBREY to the Treasurer:
On behalf of the member for Bicton, I
welcome the principal and board chair of Palmyra Primary School; and, on behalf
of myself, I again welcome my mother to Parliament!
I refer to the McGowan Labor
government's strong response to the COVID-19 pandemic and its efforts
in keeping Western Australians safe. Can the Premier outline to the house how
this strong health response to COVID-19 has supported the Western Australian
economy and Western Australian jobs?
AnswerView source ↗
I thank the member for Scarborough
and the member for Scarborough's mother for providing us with the
member for Scarborough. That is a great contribution to Western Australia, Mrs
Aubrey!
I will make a few points and then
refer to some new information that has just come to light. Firstly, we put in
place a strong health response. What has happened in the eastern states over
recent months has been estimated by commonwealth
Treasury to have cost the economy $20 billion in the September quarter. There
has been a fall in the gross domestic product of over three per cent
and, obviously, pandemic payments to the COVID-infected states of New South Wales, Victoria and a small part of
South Australia are in excess of $12.5 billion. That is $12.5 billion that taxpayers are providing to those states,
predominantly coming out of Western Australia. In contrast, Western Australia has retained the top spot on the NAB business confidence survey. That is the
fifth quarter in a row that that has been in place. The number of internet jobs
has risen. They have increased in annual average terms by 62.5 per cent and job
vacancies are significantly higher than the pre-COVID level. According to
CommSec's State of the states report,
Western Australia was the strongest on economic performance and economic
growth, with the fastest nominal economic growth of any jurisdiction in
Australia and, as we all know, it has the strongest economy in Australia. Standard and Poor's has just released a report
into Western Australia's finances. This happened when I was answering the last question. Standard and Poor's has reaffirmed the AA+ credit
rating and provided an upgraded outlook from
stable to positive. That means that there is now a one in three chance that we
could regain the AAA credit rating within the next year or two. Members
will recall that the AAA credit rating was lost by the last Liberal–National
government. The thing about the AAA credit rating is that it is easy to lose,
but it is very hard to get back. However, Standard
and Poor's has given a big tick of confidence to Western Australia's
financial management. Standard and Poor's said, and I quote —
Supporting Western Australia's
ratings are its track record of robust financial management �
It referred to ''solid
operating expense control''. It has recognised that our ''fiscal
balance has also strengthened'' and that we have ''healthy
operating surpluses''. Standard and Poor's said, and I quote,
that is —
� a rare feat given the scale of the
COVID-19 shock.
Standard and Poor's also
referred to our record infrastructure program. It also said —
The state of Western Australia's
budgetary performance is superior to that of most peers �
�
Western Australia is outperforming
its domestic peers as well as most comparable German and Canadian peers at
state or provincial level �
That is when it comes to our
financial management. In other words, Western Australia's financial
management is leading the nation and is outperforming similar jurisdictions in
Germany and Canada. This is great news and a big tick of approval for Western Australia's financial management.
It shows that we have the fiscal and financial strength to respond to
crises when they arise. Other jurisdictions do not, and that is why we need a government
that will continue to deliver strong
economic and financial management. The restoration, in part, of our credit
rating is terrific news for the state.
Visitors — Emmanuel
Christian Community School and Mazenod College
The
SPEAKER : Before the next question, I think I acknowledged all the
students a bit prematurely, so year 5 students from Emmanuel Christian
Community School, on behalf of the member for Mirrabooka, welcome to Parliament
today. Also welcome to the students of Mazenod College's leadership
team, on behalf of the member for Kalamunda. You are very welcome here in the
public gallery today.
and the member for Scarborough's mother for providing us with the
member for Scarborough. That is a great contribution to Western Australia, Mrs
Aubrey!
I will make a few points and then
refer to some new information that has just come to light. Firstly, we put in
place a strong health response. What has happened in the eastern states over
recent months has been estimated by commonwealth
Treasury to have cost the economy $20 billion in the September quarter. There
has been a fall in the gross domestic product of over three per cent
and, obviously, pandemic payments to the COVID-infected states of New South Wales, Victoria and a small part of
South Australia are in excess of $12.5 billion. That is $12.5 billion that taxpayers are providing to those states,
predominantly coming out of Western Australia. In contrast, Western Australia has retained the top spot on the NAB business confidence survey. That is the
fifth quarter in a row that that has been in place. The number of internet jobs
has risen. They have increased in annual average terms by 62.5 per cent and job
vacancies are significantly higher than the pre-COVID level. According to
CommSec's State of the states report,
Western Australia was the strongest on economic performance and economic
growth, with the fastest nominal economic growth of any jurisdiction in
Australia and, as we all know, it has the strongest economy in Australia. Standard and Poor's has just released a report
into Western Australia's finances. This happened when I was answering the last question. Standard and Poor's has reaffirmed the AA+ credit
rating and provided an upgraded outlook from
stable to positive. That means that there is now a one in three chance that we
could regain the AAA credit rating within the next year or two. Members
will recall that the AAA credit rating was lost by the last Liberal–National
government. The thing about the AAA credit rating is that it is easy to lose,
but it is very hard to get back. However, Standard
and Poor's has given a big tick of confidence to Western Australia's
financial management. Standard and Poor's said, and I quote —
Supporting Western Australia's
ratings are its track record of robust financial management �
It referred to ''solid
operating expense control''. It has recognised that our ''fiscal
balance has also strengthened'' and that we have ''healthy
operating surpluses''. Standard and Poor's said, and I quote,
that is —
� a rare feat given the scale of the
COVID-19 shock.
Standard and Poor's also
referred to our record infrastructure program. It also said —
The state of Western Australia's
budgetary performance is superior to that of most peers �
�
Western Australia is outperforming
its domestic peers as well as most comparable German and Canadian peers at
state or provincial level �
That is when it comes to our
financial management. In other words, Western Australia's financial
management is leading the nation and is outperforming similar jurisdictions in
Germany and Canada. This is great news and a big tick of approval for Western Australia's financial management.
It shows that we have the fiscal and financial strength to respond to
crises when they arise. Other jurisdictions do not, and that is why we need a government
that will continue to deliver strong
economic and financial management. The restoration, in part, of our credit
rating is terrific news for the state.
Visitors — Emmanuel
Christian Community School and Mazenod College
The
SPEAKER : Before the next question, I think I acknowledged all the
students a bit prematurely, so year 5 students from Emmanuel Christian
Community School, on behalf of the member for Mirrabooka, welcome to Parliament
today. Also welcome to the students of Mazenod College's leadership
team, on behalf of the member for Kalamunda. You are very welcome here in the
public gallery today.
Explore WA Government Data
Search the full archive in the free dashboard, or query programmatically via API.
Explore more
Government Gazette
Appointments, regulatory notices, planning changes.
Hansard
Debates, questions, speeches and sentiment.
Tabled Papers
Reports and documents tabled in Parliament.
Committees
Committee profiles and recent reports.
Regulations
Subsidiary legislation with filters and summaries.
Bills
Proposed laws and parliamentary progress.
Acts
Current WA legislation and summaries.
Explanatory Memoranda
Bills with EMs (text/PDF) available.
Members
MP profiles, party breakdown and rankings.
Pollie Rankings
Data-driven rankings across 19 categories.
Amendment Chains
Track how schemes and regulations evolve over time.