❓ Mr. Baker asks about the government's management of the WA economy and potential risks. The Treasurer responds by highlighting positive economic indicators and criticising the opposition's past performance.
AnsweredQoN 77Legislative Assembly
QuestionView source ↗
STATE ECONOMY — DIVERSIFICATION
77. Mr G. BAKER to the Treasurer:
I refer to the Cook Labor government's
responsible management of the state's finances and delivery of a strong,
diversified economy.
(1) Can the
minister outline to the house how the government is delivering a strong economy
for Western Australian families, workers and businesses?
(2) Can the
minister advise the house whether she is aware of any potential changes that
might affect WA's economic standing?
77. Mr G. BAKER to the Treasurer:
I refer to the Cook Labor government's
responsible management of the state's finances and delivery of a strong,
diversified economy.
(1) Can the
minister outline to the house how the government is delivering a strong economy
for Western Australian families, workers and businesses?
(2) Can the
minister advise the house whether she is aware of any potential changes that
might affect WA's economic standing?
AnswerView source ↗
(1)–(2) I thank the member for the question. Again, some
very strong data came out today in relation to the health of the WA economy.
The wage price index figures were released today and show wages growth in WA of 4.7 per cent across the economy in 2023.
That is the strongest wage growth since 2012 and above the national
average of 4.3 per cent. That is very important in relation to strong wages
growth supporting Western Australian families dealing with pressures in the
economy, in particular the cost of living. Importantly, it was above the
inflation rate, showing that there is real wages growth once again in the economy. If we look across the economy, we can
see that we are performing extremely well across all the indicators. For the consumer price index, Western Australia's
numbers came in as the second lowest across the country and below the
nation's figures, which is again important.
[Interruption.]
Mr C.J. Tallentire : Sorry.
Ms R. SAFFIOTI : Member for
Thornlie!
Several members interjected.
Ms
R. SAFFIOTI : It is so unlike the
member for Thornlie, so we will excuse him. He is not that type. Quigley, we would expect—sorry, member for Butler!
On
economic growth, the domestic economy grew by 2.4 per cent in the September
quarter and 4.2 per cent in annual average terms, again the strongest of
any jurisdiction. Our national exports rose to 47 per cent of the national
share, again an incredible growth in relation to our export performance. In the
labour market, over 279 000 jobs were created since 2017, and, importantly,
retail trade continues to be the strongest of all the states and above the
national growth of 3.3 per cent. Members can see that we have a very strong
economy. That strong economy, of course, supports
the strong finances of the state. That strong financial management allows us to
deal with the many pressures across the economy, whether it be funding
infrastructure to support new jobs and new economic growth, of course
addressing the cost of living, or investing in key areas such as health and
housing.
The
question was: is there a potential risk to this strong economic and financial
performance? The risk is the Liberal and National Parties, members. Remember
when they were in government? They drove the state to the brink of bankruptcy.
Mr R.H. Cook : It was the
darkest of days.
Ms R. SAFFIOTI : It was the
darkest of days when it came to the economy. They were dysfunctional, chaotic
and divided within themselves and, of course, across the alliance. Remember
that after we won government, the Liberal and National Parties got together.
There they were in Mosman Park. Remember? The Liberal and National Parties
joined arm in arm to somehow create this new alliance. Imagine if this alliance
were to get to government. It would be dysfunctional and chaotic. It cannot
even coordinate a question time, let alone the state's finances. The
biggest risk to the state's performance, to the state's economy
and to the state's finances would be if these parties ever got into
government again.
very strong data came out today in relation to the health of the WA economy.
The wage price index figures were released today and show wages growth in WA of 4.7 per cent across the economy in 2023.
That is the strongest wage growth since 2012 and above the national
average of 4.3 per cent. That is very important in relation to strong wages
growth supporting Western Australian families dealing with pressures in the
economy, in particular the cost of living. Importantly, it was above the
inflation rate, showing that there is real wages growth once again in the economy. If we look across the economy, we can
see that we are performing extremely well across all the indicators. For the consumer price index, Western Australia's
numbers came in as the second lowest across the country and below the
nation's figures, which is again important.
[Interruption.]
Mr C.J. Tallentire : Sorry.
Ms R. SAFFIOTI : Member for
Thornlie!
Several members interjected.
Ms
R. SAFFIOTI : It is so unlike the
member for Thornlie, so we will excuse him. He is not that type. Quigley, we would expect—sorry, member for Butler!
On
economic growth, the domestic economy grew by 2.4 per cent in the September
quarter and 4.2 per cent in annual average terms, again the strongest of
any jurisdiction. Our national exports rose to 47 per cent of the national
share, again an incredible growth in relation to our export performance. In the
labour market, over 279 000 jobs were created since 2017, and, importantly,
retail trade continues to be the strongest of all the states and above the
national growth of 3.3 per cent. Members can see that we have a very strong
economy. That strong economy, of course, supports
the strong finances of the state. That strong financial management allows us to
deal with the many pressures across the economy, whether it be funding
infrastructure to support new jobs and new economic growth, of course
addressing the cost of living, or investing in key areas such as health and
housing.
The
question was: is there a potential risk to this strong economic and financial
performance? The risk is the Liberal and National Parties, members. Remember
when they were in government? They drove the state to the brink of bankruptcy.
Mr R.H. Cook : It was the
darkest of days.
Ms R. SAFFIOTI : It was the
darkest of days when it came to the economy. They were dysfunctional, chaotic
and divided within themselves and, of course, across the alliance. Remember
that after we won government, the Liberal and National Parties got together.
There they were in Mosman Park. Remember? The Liberal and National Parties
joined arm in arm to somehow create this new alliance. Imagine if this alliance
were to get to government. It would be dysfunctional and chaotic. It cannot
even coordinate a question time, let alone the state's finances. The
biggest risk to the state's performance, to the state's economy
and to the state's finances would be if these parties ever got into
government again.
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