❓ Mr. Nalder questions the Treasurer on whether the current fiscal plan addresses underlying economic issues. The Treasurer defends the government's response to the pandemic, highlighting their improved credit rating and contrasting it with the previous Liberal-National government's financial management.
AnsweredQoN 390Legislative Assembly
QuestionView source ↗
CORONAVIRUS —
ECONOMIC RECOVERY
390. Mr D.C. NALDER to the Treasurer:
I have a supplementary question. Can
the Treasurer not acknowledge that his current fiscal plan for coronavirus is
not fixing the underlying issues that already existed within the domestic
economy?
ECONOMIC RECOVERY
390. Mr D.C. NALDER to the Treasurer:
I have a supplementary question. Can
the Treasurer not acknowledge that his current fiscal plan for coronavirus is
not fixing the underlying issues that already existed within the domestic
economy?
AnswerView source ↗
He
is double dipping. I am not entirely certain how we will go. How can I acknowledge
that? All I can acknowledge is this: but for the efforts of the McGowan
Labor government, we would not be in a position to respond to the coronavirus; there is no doubt about that. I wrote
to the shadow Treasurer. He is familiar with what the bond markets did in the first couple of weeks after the
coronavirus hit us. If the member for Bateman thinks that in that environment ,
he could have spent the $4.5 billion his leader has announced she would have
spent, he is dreaming. Thankfully, because of our efforts, we got our credit
rating upgraded and, as a result, we have been able to tap the bond markets to
ensure that we can spend on our economy.
That might sound like gobbledegook
to some, but if we cannot borrow the money, we cannot spend it—we
cannot support the economy. The reason we can do that is it is recognised
globally that the former Western Australian Liberal–National government
was diabolical when it came to the management of finances. It turned the
greatest period of economic growth in the state's history into our only
recession.
Dr D.J. Honey interjected.
The SPEAKER : Member for
Cottesloe, you keep sniping. I call you to order for the first time.
Several members interjected.
Mr
B.S. WYATT : I think I heard what he
said. It took the greatest period of economic growth in Western Australia's history and turned it into a recession overnight. Internationally, when we
could travel the globe, it was pointed out to me by banks, super funds and
credit rating agencies that the work that the McGowan Labor government has done
has turned this state around. That is why we are able to do the things we do in
supporting businesses and supporting
households. We continue to do that. All I say is this: I always used to say
about Mr Barnett and the f ormer Liberal
government that they assumed they knew the circumstances of future governments,
and they spent to absorb that capacity. That is what the former
government did. Thankfully, no-one could foresee a pandemic, but we could
always foresee an economic shock. The work we did means that we were able to
respond to it.
is double dipping. I am not entirely certain how we will go. How can I acknowledge
that? All I can acknowledge is this: but for the efforts of the McGowan
Labor government, we would not be in a position to respond to the coronavirus; there is no doubt about that. I wrote
to the shadow Treasurer. He is familiar with what the bond markets did in the first couple of weeks after the
coronavirus hit us. If the member for Bateman thinks that in that environment ,
he could have spent the $4.5 billion his leader has announced she would have
spent, he is dreaming. Thankfully, because of our efforts, we got our credit
rating upgraded and, as a result, we have been able to tap the bond markets to
ensure that we can spend on our economy.
That might sound like gobbledegook
to some, but if we cannot borrow the money, we cannot spend it—we
cannot support the economy. The reason we can do that is it is recognised
globally that the former Western Australian Liberal–National government
was diabolical when it came to the management of finances. It turned the
greatest period of economic growth in the state's history into our only
recession.
Dr D.J. Honey interjected.
The SPEAKER : Member for
Cottesloe, you keep sniping. I call you to order for the first time.
Several members interjected.
Mr
B.S. WYATT : I think I heard what he
said. It took the greatest period of economic growth in Western Australia's history and turned it into a recession overnight. Internationally, when we
could travel the globe, it was pointed out to me by banks, super funds and
credit rating agencies that the work that the McGowan Labor government has done
has turned this state around. That is why we are able to do the things we do in
supporting businesses and supporting
households. We continue to do that. All I say is this: I always used to say
about Mr Barnett and the f ormer Liberal
government that they assumed they knew the circumstances of future governments,
and they spent to absorb that capacity. That is what the former
government did. Thankfully, no-one could foresee a pandemic, but we could
always foresee an economic shock. The work we did means that we were able to
respond to it.
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