❓ The Treasurer provides an update on the WA economy, highlighting positive economic data, the RBA's interest rate cut, and criticises the previous Liberal government's financial management.
AnsweredQoN 147Legislative Assembly
QuestionView source ↗
State economy
147. Mr Daniel Pastorelli to the Treasurer:
I refer to the Cook
Labor government's record of responsible economic management.
(1) Can the Treasurer update the house on recent
economic developments, including the Reserve Bank's decision last week
to cut interest rates?
(2) Can the Treasurer outline to the house whether
she is aware of anyone who is standing in the way of actions to reduce the
burden for Western Australian families?
147. Mr Daniel Pastorelli to the Treasurer:
I refer to the Cook
Labor government's record of responsible economic management.
(1) Can the Treasurer update the house on recent
economic developments, including the Reserve Bank's decision last week
to cut interest rates?
(2) Can the Treasurer outline to the house whether
she is aware of anyone who is standing in the way of actions to reduce the
burden for Western Australian families?
AnswerView source ↗
(1)–(2) I thank the member for Landsdale
for the question. Of course, we have a strong history of strong financial
management and delivering economic growth. As we demonstrated over the past
eight years and will continue to demonstrate, we have an ability to manage the
finances strongly while continuing to grow the economy.
As the Premier just outlined, the diversification of the economy is a core part
of our agenda to make sure that we make more things in Western Australia
and to continue to create new opportunities for new industries to thrive in
this state.
In particular, we very much
welcome the recent economic news of the Reserve Bank's decision last
week to cut interest rates. It shows that the inflation rate now is within that
target range, and that is good news for Western Australian families. In Western
Australia, we have good news about not only interest rates, but also economic
data that comes through that shows our household spending and our general
economy continue to grow strongly. The CommSec report just recently showed that
WA is leading the nation as the best-performing economy. When it comes to
retail trade volumes, the recent data for the March quarter shows a strong
growth of 6%, which compares very strongly with results for the rest of the
nation. Over 340,000 jobs were created in this date range. As we continue to
support new investment in this era of global uncertainty, our ability to manage
the finances strongly while continuing to grow the economy is fundamental to
our future success. This budget will again reflect prudent financial management
and an ability to invest in new industries to support economic growth.
Members, this record of
delivery, strong financial management and growing the economy compares with
what the previous government left us and what it did in eight years. As has
been outlined, the previous government came in, made commitments and then broke
them, just as it did with the Royal Perth Hospital. They came in again and
again making commitments and then breaking them.
More recently, the new member
for Nedlands pointed out in the local newspaper, the Post , the Barnett government's deplorable
record with the state's finances. Not only did it drive the state into
recession and break core election commitments, like the MAX light rail, the
Ellenbrook rail line and Royal Perth Hospital, but it also nearly sent the
state broke. The member for Nedlands said more recently:
… he quit the party in
frustration during the last Liberal government of then-premier Colin Barnett.
He said:
The government inherited a full
railway to Mandurah and $3.5billion of debt …
And it then left the state with
record debt after eight years. This is the Liberal Party's own member
describing the financial recklessness of the previous government. This is
something we will not copy, as we will continue to manage the finances strongly
and deliver record economic growth.
for the question. Of course, we have a strong history of strong financial
management and delivering economic growth. As we demonstrated over the past
eight years and will continue to demonstrate, we have an ability to manage the
finances strongly while continuing to grow the economy.
As the Premier just outlined, the diversification of the economy is a core part
of our agenda to make sure that we make more things in Western Australia
and to continue to create new opportunities for new industries to thrive in
this state.
In particular, we very much
welcome the recent economic news of the Reserve Bank's decision last
week to cut interest rates. It shows that the inflation rate now is within that
target range, and that is good news for Western Australian families. In Western
Australia, we have good news about not only interest rates, but also economic
data that comes through that shows our household spending and our general
economy continue to grow strongly. The CommSec report just recently showed that
WA is leading the nation as the best-performing economy. When it comes to
retail trade volumes, the recent data for the March quarter shows a strong
growth of 6%, which compares very strongly with results for the rest of the
nation. Over 340,000 jobs were created in this date range. As we continue to
support new investment in this era of global uncertainty, our ability to manage
the finances strongly while continuing to grow the economy is fundamental to
our future success. This budget will again reflect prudent financial management
and an ability to invest in new industries to support economic growth.
Members, this record of
delivery, strong financial management and growing the economy compares with
what the previous government left us and what it did in eight years. As has
been outlined, the previous government came in, made commitments and then broke
them, just as it did with the Royal Perth Hospital. They came in again and
again making commitments and then breaking them.
More recently, the new member
for Nedlands pointed out in the local newspaper, the Post , the Barnett government's deplorable
record with the state's finances. Not only did it drive the state into
recession and break core election commitments, like the MAX light rail, the
Ellenbrook rail line and Royal Perth Hospital, but it also nearly sent the
state broke. The member for Nedlands said more recently:
… he quit the party in
frustration during the last Liberal government of then-premier Colin Barnett.
He said:
The government inherited a full
railway to Mandurah and $3.5billion of debt …
And it then left the state with
record debt after eight years. This is the Liberal Party's own member
describing the financial recklessness of the previous government. This is
something we will not copy, as we will continue to manage the finances strongly
and deliver record economic growth.
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