❓ Mr. Nalder questions the Treasurer on WA's economic performance, attributing positive GSP solely to exports and blaming fiscal management for domestic downturns. The Treasurer dismisses the question as unclear, defends WA's export-oriented economy, and criticizes the previous government's economic management.
AnsweredQoN 879Legislative Assembly
QuestionView source ↗
STATE FINANCES —
STATE FINAL DEMAND
879. Mr D.C. NALDER to the Treasurer:
I have a supplementary question.
Can the Treasurer acknowledge that gross state product is only positive because of exports, and state final demand has
contracted on a protracted basis, because of the downturns in housing and retail,
and this has been because of the wrong balance between his fiscal management
and the economic management of the state?
STATE FINAL DEMAND
879. Mr D.C. NALDER to the Treasurer:
I have a supplementary question.
Can the Treasurer acknowledge that gross state product is only positive because of exports, and state final demand has
contracted on a protracted basis, because of the downturns in housing and retail,
and this has been because of the wrong balance between his fiscal management
and the economic management of the state?
AnswerView source ↗
That was a bit of gobbledygook, but
I think what the shadow Treasurer is saying is that the WA economy is only
growing because of exports. Is that what the member is saying?
Mr D.C. Nalder : GSP.
Mr B.S. WYATT : I will send
the member some publications about the history of the WA economy. We are an
export economy. That is what we have been doing at least since Japan emerged
out of the Second World War. The most amazing
thing about the fact that GSP contracted in 2016–17 was that it was on
the back of increasing exports. Not only were exports increasing in 2016–17,
the damage inflicted on the domestic economy by the Liberal–National
government still drove the broader economy into recession. That is the reality.
Of course we are an export economy—I mean, honestly! I would like to
think that our basic year 10, 11 or 12 economics student would understand that.
That is the reality. I am proud of the fact that we are an export economy. That
is why we promote export industries here in Western Australia, and we will
continue to do so. If the shadow Treasurer wants a history of the WA economy,
there are a couple of very good articles on the Treasury website.
The SPEAKER : Member for
Wanneroo, thank you for starting question time today.
Ms S.E. WINTON : You are
welcome, Mr Speaker.
The SPEAKER : I found my
glasses at last.
I think what the shadow Treasurer is saying is that the WA economy is only
growing because of exports. Is that what the member is saying?
Mr D.C. Nalder : GSP.
Mr B.S. WYATT : I will send
the member some publications about the history of the WA economy. We are an
export economy. That is what we have been doing at least since Japan emerged
out of the Second World War. The most amazing
thing about the fact that GSP contracted in 2016–17 was that it was on
the back of increasing exports. Not only were exports increasing in 2016–17,
the damage inflicted on the domestic economy by the Liberal–National
government still drove the broader economy into recession. That is the reality.
Of course we are an export economy—I mean, honestly! I would like to
think that our basic year 10, 11 or 12 economics student would understand that.
That is the reality. I am proud of the fact that we are an export economy. That
is why we promote export industries here in Western Australia, and we will
continue to do so. If the shadow Treasurer wants a history of the WA economy,
there are a couple of very good articles on the Treasury website.
The SPEAKER : Member for
Wanneroo, thank you for starting question time today.
Ms S.E. WINTON : You are
welcome, Mr Speaker.
The SPEAKER : I found my
glasses at last.
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