❓ Mr. Baker asks about the Cook Labor government's economic management and its support for Western Australians. The Premier responds by highlighting WA's strong economic performance, low unemployment, affordable living, and responsible financial management.
AnsweredQoN 780Legislative Assembly
QuestionView source ↗
STATE ECONOMY — MANAGEMENT
780. Mr G. BAKER to the Premier:
I refer to the Cook Labor government's
responsible economic management, particularly amid global economic uncertainty.
(1) Can the
Premier advise the house how the government's strong economic
management is supporting Western Australians?
(2) Can the
Premier outline to the house how this government's budget management
has positioned the state to appropriately respond to challenges that may arise?
780. Mr G. BAKER to the Premier:
I refer to the Cook Labor government's
responsible economic management, particularly amid global economic uncertainty.
(1) Can the
Premier advise the house how the government's strong economic
management is supporting Western Australians?
(2) Can the
Premier outline to the house how this government's budget management
has positioned the state to appropriately respond to challenges that may arise?
AnswerView source ↗
(1)–(2) I
was in a shopping centre in the member for Forrestfield's area recently
and had the opportunity to have a look around. Here he comes. Member for
Forrestfield, I was just referring to you. Welcome! I looked around that
shopping centre and I saw something that will strike fear into the hearts of
all mums and dads across Western Australia and that is Christmas cards and
decorations and toys. That time is upon us as we move towards Christmas, dust
off the decorations and get ready for the festive season. I am sure in everyone's
electorate offices, around the watercooler, they are talking about where the
Christmas party will be and the plans and arrangements that will go into that.
It is an exciting time of the year, especially for the record number of Western
Australians who have found employment in 2023 and especially as the economy is
in such a strong position as we enter the festive season.
Today we saw the release of labour
force data for September. It reaffirms Western Australia's status as
the healthiest economy in the nation. Our unemployment rate is now the equal
lowest in the nation at 3.3 per cent. It is well below the national
unemployment rate of 3.6 per cent for September. The number of Western Australians who are underemployed is
also the lowest in the nation at 5.8 per cent. In short, it means WA is the
easiest place in the country to get full-time skilled work that pays well. At
the same time , we are also the most
affordable state to live in. We have lower household bills. We have the most
affordable housing in the nation, and we have some of the most
affordable training in the nation. It is little wonder that so many Victorians
and New South Wales people are making their way across to Western Australia.
Last
month, we saw the release of the WA government's Annual report on
state finances 2022–23 . The title belies the very compelling
reading that it is. I want to note a few key highlights because I am sure that
not everyone took that to bed for a bit of night-time reading.
Ms R. Saffioti : Can't
see why not!
Mr R.H. COOK : Apart from the Treasurer!
I quote —
Despite
the record AIP, total public sector net debt declined for a fourth consecutive
year during 2022–23 . Net debt � is more than $10 billion lower
than the level of net debt four years ago.
It goes on —
Western Australia is now the only
State or Territory with a triple-A credit rating from both major international
ratings agencies.
This is an outstanding result. It
is one that we should all be very proud of. That is in stark contrast to the
finances we inherited in 2017 from the Liberal–National government. It
left $44 billion worth of debt, with very little to show for it. To spell it
out for members, we are delivering more, we are saving more and there are more
jobs. In fact, 250 000 jobs have been created since 2017. An extra quarter of a
million Western Australians now have jobs in Western Australia. The jobs data
and the Annual report on state finances are not the only endorsements of
our economy. There is good news in the September quarter of the Deloitte Access
Economics Business outlook . It forecasts continued growth for our state.
It states that WA is expected to chalk up the highest rate of growth in household demand for the states and territories in
2022–23, at 1.5 per cent compared with 0.8 per cent at the national level. In the context of high inflation and significant tightening of financial
conditions in Australia, the outlook for private domestic demand in WA is
relatively strong. It also has worrying predictions for the other states.
Australian households in the
national energy market are expected to face average increases in their
electricity bills of 20 to 25 per cent in 2023–24. Thankfully, not here
in Western Australia. Do members want to know why? There are some very key
reasons. One is that we took the hard stance to make sure that we had a WA
domestic gas policy to ensure that we have access to affordable gas for
electricity generation for our households. In addition, we have the household
electricity credit that insulated households from any increases or difficulties
they are facing paying their bills. We also stopped the privatisation of
Western Power. Unlike the national energy market, we are in a position to make sure that we can keep
electricity prices down and make it more affordable for Western Australians so that everyone can benefit from this public asset being kept in public hands.
If the other side was elected at the last election, it would have privatised
Western Power. We have a WA Labor government to thank for the fact that we have
affordable electricity prices in Western Australia. We have kept Western Power in
public hands, we have a domestic gas reservation policy and strong electricity
household electricity credits. These are other ways that this state is
benefiting from a WA Labor government.
was in a shopping centre in the member for Forrestfield's area recently
and had the opportunity to have a look around. Here he comes. Member for
Forrestfield, I was just referring to you. Welcome! I looked around that
shopping centre and I saw something that will strike fear into the hearts of
all mums and dads across Western Australia and that is Christmas cards and
decorations and toys. That time is upon us as we move towards Christmas, dust
off the decorations and get ready for the festive season. I am sure in everyone's
electorate offices, around the watercooler, they are talking about where the
Christmas party will be and the plans and arrangements that will go into that.
It is an exciting time of the year, especially for the record number of Western
Australians who have found employment in 2023 and especially as the economy is
in such a strong position as we enter the festive season.
Today we saw the release of labour
force data for September. It reaffirms Western Australia's status as
the healthiest economy in the nation. Our unemployment rate is now the equal
lowest in the nation at 3.3 per cent. It is well below the national
unemployment rate of 3.6 per cent for September. The number of Western Australians who are underemployed is
also the lowest in the nation at 5.8 per cent. In short, it means WA is the
easiest place in the country to get full-time skilled work that pays well. At
the same time , we are also the most
affordable state to live in. We have lower household bills. We have the most
affordable housing in the nation, and we have some of the most
affordable training in the nation. It is little wonder that so many Victorians
and New South Wales people are making their way across to Western Australia.
Last
month, we saw the release of the WA government's Annual report on
state finances 2022–23 . The title belies the very compelling
reading that it is. I want to note a few key highlights because I am sure that
not everyone took that to bed for a bit of night-time reading.
Ms R. Saffioti : Can't
see why not!
Mr R.H. COOK : Apart from the Treasurer!
I quote —
Despite
the record AIP, total public sector net debt declined for a fourth consecutive
year during 2022–23 . Net debt � is more than $10 billion lower
than the level of net debt four years ago.
It goes on —
Western Australia is now the only
State or Territory with a triple-A credit rating from both major international
ratings agencies.
This is an outstanding result. It
is one that we should all be very proud of. That is in stark contrast to the
finances we inherited in 2017 from the Liberal–National government. It
left $44 billion worth of debt, with very little to show for it. To spell it
out for members, we are delivering more, we are saving more and there are more
jobs. In fact, 250 000 jobs have been created since 2017. An extra quarter of a
million Western Australians now have jobs in Western Australia. The jobs data
and the Annual report on state finances are not the only endorsements of
our economy. There is good news in the September quarter of the Deloitte Access
Economics Business outlook . It forecasts continued growth for our state.
It states that WA is expected to chalk up the highest rate of growth in household demand for the states and territories in
2022–23, at 1.5 per cent compared with 0.8 per cent at the national level. In the context of high inflation and significant tightening of financial
conditions in Australia, the outlook for private domestic demand in WA is
relatively strong. It also has worrying predictions for the other states.
Australian households in the
national energy market are expected to face average increases in their
electricity bills of 20 to 25 per cent in 2023–24. Thankfully, not here
in Western Australia. Do members want to know why? There are some very key
reasons. One is that we took the hard stance to make sure that we had a WA
domestic gas policy to ensure that we have access to affordable gas for
electricity generation for our households. In addition, we have the household
electricity credit that insulated households from any increases or difficulties
they are facing paying their bills. We also stopped the privatisation of
Western Power. Unlike the national energy market, we are in a position to make sure that we can keep
electricity prices down and make it more affordable for Western Australians so that everyone can benefit from this public asset being kept in public hands.
If the other side was elected at the last election, it would have privatised
Western Power. We have a WA Labor government to thank for the fact that we have
affordable electricity prices in Western Australia. We have kept Western Power in
public hands, we have a domestic gas reservation policy and strong electricity
household electricity credits. These are other ways that this state is
benefiting from a WA Labor government.
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