❓ Mr. Wyatt questions the Treasurer's responsibility for the loss of the AAA credit rating. The Treasurer acknowledges the seriousness of the issue and accepts the government's responsibility to work towards restoring the rating.
AnsweredQoN 533Legislative Assembly
QuestionView source ↗
STATE
FINANCES — AAA CREDIT RATING
533. Mr B.S. WYATT to the Treasurer:
I have a supplementary question. I am glad the Treasurer
thinks that this is such a laughable issue.
What responsibility does the
Treasurer take for the loss of the AAA credit rating?
FINANCES — AAA CREDIT RATING
533. Mr B.S. WYATT to the Treasurer:
I have a supplementary question. I am glad the Treasurer
thinks that this is such a laughable issue.
What responsibility does the
Treasurer take for the loss of the AAA credit rating?
AnswerView source ↗
My view is that the loss of the AAA
credit rating is a serious issue for the government, and the government has
repeatedly accepted responsibility for it. I will explain in a second what that
means. It is also a serious issue for the state. As I said yesterday, Standard
and Poor's gave two important messages. One was to us in government. It
acknowledged that we have plans in place that will make a difference but we
have to do more to implement those plans. Secondly, the message to the broader
community was that the level of services and the quality of infrastructure that
people have perhaps received in the past is not necessarily sustainable moving
into the future. I therefore accept, as does the government, that we have a
responsibility to work hard in an attempt to restore the AAA rating. Standard
and Poor's has given us a window of opportunity, which was clearly
articulated in the press statement yesterday, and I can tell members that we
will be grasping that opportunity.
credit rating is a serious issue for the government, and the government has
repeatedly accepted responsibility for it. I will explain in a second what that
means. It is also a serious issue for the state. As I said yesterday, Standard
and Poor's gave two important messages. One was to us in government. It
acknowledged that we have plans in place that will make a difference but we
have to do more to implement those plans. Secondly, the message to the broader
community was that the level of services and the quality of infrastructure that
people have perhaps received in the past is not necessarily sustainable moving
into the future. I therefore accept, as does the government, that we have a
responsibility to work hard in an attempt to restore the AAA rating. Standard
and Poor's has given us a window of opportunity, which was clearly
articulated in the press statement yesterday, and I can tell members that we
will be grasping that opportunity.
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