❓ Ms. Kelsbie asks the Premier about industry sentiment regarding WA's strong economy and the importance of fiscal responsibility. The Premier responds by highlighting positive assessments from CCIWA, ratings agencies, CommSec, and Deloitte, contrasting them with past criticisms of the previous government.
AnsweredQoN 136Legislative Assembly
QuestionView source ↗
STATE ECONOMY — INDUSTRY SENTIMENT
136. Ms E.J. KELSBIE to the Premier:
I refer to the McGowan Labor
government's commitment to responsible financial management and its
cautious approach to the risks of a global recession.
(1) Can the
Premier outline to the house how Western Australia's strong economic
and budgetary position has been received by industry groups?
(2) Can the Premier advise the house
on the importance of sustained fiscal responsibility?
136. Ms E.J. KELSBIE to the Premier:
I refer to the McGowan Labor
government's commitment to responsible financial management and its
cautious approach to the risks of a global recession.
(1) Can the
Premier outline to the house how Western Australia's strong economic
and budgetary position has been received by industry groups?
(2) Can the Premier advise the house
on the importance of sustained fiscal responsibility?
AnswerView source ↗
I thank the member for the question.
(1)–(2) I was pleased to see that the Chamber of Commerce
and Industry of Western Australia released its biannual report on the Western
Australian economy the other day. It was compelling reading because once again it showed how well Western Australia is doing and
it vindicated the efforts of this government to diversify , strengthen and
attract investment into Western Australia.
The chief
economist, Aaron Morey, said —
� Western Australia's
economic fundamentals remain as solid as ever.
''Our domestic economy is now
12 per cent bigger than it was pre-COVID �
�
''Business investment growth
of 4 per cent this financial year will underwrite the economy �
''It comes in the form of
large projects �
And so on. It indicated a very
glowing assessment of the Western Australian economy from our good friends at
the CCIWA. That also follows on from ratings agencies S&P Global and Moody's
glowingly appraising the state's economic management. CommSec said that
Western Australia continues to lead on relative economic growth. The Deloitte
Access Economics assessment shows that housing in Perth is more affordable and
wages are better than anywhere else in Australia. They are all glowing
endorsements of the government's economic management and the fact that
we got the state back on track, certainly in a financial sense.
The CCI put out various statements about
the last government in 2016. Back then, its statement about the last Liberal–National
government was that the then government's spending was unsustainable in
creating historically high levels of debt.
We went from that assessment by the CCI to the assessment that we have
received. Obviously, Western Australia now is the strongest state in Australia,
both economically and fiscally.
I
was also pleased to see that when federal Treasurer Jim Chalmers was asked
about the GST arrangements when he was in WA the other day, he said —
''This is a deal that we are
committed to �
He also said —
''What's not under
consideration, what's not up for review, is the GST floor here in Western
Australia,'' � ''We've said that on countless occasions.
That is what the federal Treasurer
said. The outlook is rosy. We just need to stay the course and make sure that Western
Australia continues to lead the nation, both economically and fiscally. Under
this government, that is what will happen.
(1)–(2) I was pleased to see that the Chamber of Commerce
and Industry of Western Australia released its biannual report on the Western
Australian economy the other day. It was compelling reading because once again it showed how well Western Australia is doing and
it vindicated the efforts of this government to diversify , strengthen and
attract investment into Western Australia.
The chief
economist, Aaron Morey, said —
� Western Australia's
economic fundamentals remain as solid as ever.
''Our domestic economy is now
12 per cent bigger than it was pre-COVID �
�
''Business investment growth
of 4 per cent this financial year will underwrite the economy �
''It comes in the form of
large projects �
And so on. It indicated a very
glowing assessment of the Western Australian economy from our good friends at
the CCIWA. That also follows on from ratings agencies S&P Global and Moody's
glowingly appraising the state's economic management. CommSec said that
Western Australia continues to lead on relative economic growth. The Deloitte
Access Economics assessment shows that housing in Perth is more affordable and
wages are better than anywhere else in Australia. They are all glowing
endorsements of the government's economic management and the fact that
we got the state back on track, certainly in a financial sense.
The CCI put out various statements about
the last government in 2016. Back then, its statement about the last Liberal–National
government was that the then government's spending was unsustainable in
creating historically high levels of debt.
We went from that assessment by the CCI to the assessment that we have
received. Obviously, Western Australia now is the strongest state in Australia,
both economically and fiscally.
I
was also pleased to see that when federal Treasurer Jim Chalmers was asked
about the GST arrangements when he was in WA the other day, he said —
''This is a deal that we are
committed to �
He also said —
''What's not under
consideration, what's not up for review, is the GST floor here in Western
Australia,'' � ''We've said that on countless occasions.
That is what the federal Treasurer
said. The outlook is rosy. We just need to stay the course and make sure that Western
Australia continues to lead the nation, both economically and fiscally. Under
this government, that is what will happen.
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