❓ Mrs. Harvey questions the Premier about the potential economic impacts of coronavirus, referencing concerns raised by the Prime Minister and Warwick McKibbin. The Premier acknowledges the potential for a significant impact, outlines initial government responses, and emphasizes the importance of supporting local businesses.
AnsweredQoN 118Legislative Assembly
QuestionView source ↗
CORONAVIRUS —
STATE ECONOMY
118. Mrs L.M. HARVEY to the Premier:
Given the Premier's
unwillingness or inability to outline the potential economic impacts of
coronavirus, can he confirm that the Prime
Minister is indicating a potential impact worse than the global financial
crisis and that former Reserve Bank board member, Warwick McKibbin, has indicated a potential worst-case
scenario of eight per cent being wiped from gross domestic product?
STATE ECONOMY
118. Mrs L.M. HARVEY to the Premier:
Given the Premier's
unwillingness or inability to outline the potential economic impacts of
coronavirus, can he confirm that the Prime
Minister is indicating a potential impact worse than the global financial
crisis and that former Reserve Bank board member, Warwick McKibbin, has indicated a potential worst-case
scenario of eight per cent being wiped from gross domestic product?
AnswerView source ↗
I have said from the very
beginning, back at the start of February, that this coronavirus issue could
have a dramatic effect on the Western Australian economy. As I advised members
yesterday, when the Prime Minister called me on
the Saturday morning of 1 February, I immediately convened a range of industry
roundtables with representatives from tourism, international education,
mining, energy and agriculture to talk to those industries and their
representative bodies about the potential impacts on Western Australia. I then
ensured the issues they raised with me were immediately taken up with the
federal government in writing to ensure that those issues were resolved around
port access and student visas. I also recommended to the federal government a major
tourism advertising campaign to secure
tourists to holiday at home. Then, within a week, we launched a $13 million
aviation and tourism advertising campaign. In coming days, the tourism
minister will expand upon that campaign, which is designed to ensure that Western
Australians take the opportunity to holiday here in Western Australia.
We cannot run away from this. This will potentially have a dramatic
impact on the Western Australian economy. I think it is already having an
impact, particularly in the areas of retail and hospitality, in terms of
consumer spend and the like across the Western Australian economy. That is why
every single day I encourage Western Australians to continue to spend and
support their local businesses. I comment on this on every single occasion. I urge
people to do so and not be frightened of supporting their local businesses.
In relation to the potential impact on Australia or Western Australia,
I think it will be more significant than the global financial crisis. In fact,
I think it will be seriously more significant than the global financial crisis.
That is why, currently, in our budget preparations, the Treasurer, the
Expenditure Review Committee, cabinet and I are considering all options. As I outlined to the house yesterday, we have
worked extremely hard over the last three years to get our budget
position back into shape and we have secured surpluses across the forward
estimates and, indeed, a surplus in this financial year—a massive
effort to turn it around. We received considerable criticism over that,
particularly from the Liberal Party. But we have done that to ensure that we
have capacity for times like now. That is a sign of a government that plans for
the future.
beginning, back at the start of February, that this coronavirus issue could
have a dramatic effect on the Western Australian economy. As I advised members
yesterday, when the Prime Minister called me on
the Saturday morning of 1 February, I immediately convened a range of industry
roundtables with representatives from tourism, international education,
mining, energy and agriculture to talk to those industries and their
representative bodies about the potential impacts on Western Australia. I then
ensured the issues they raised with me were immediately taken up with the
federal government in writing to ensure that those issues were resolved around
port access and student visas. I also recommended to the federal government a major
tourism advertising campaign to secure
tourists to holiday at home. Then, within a week, we launched a $13 million
aviation and tourism advertising campaign. In coming days, the tourism
minister will expand upon that campaign, which is designed to ensure that Western
Australians take the opportunity to holiday here in Western Australia.
We cannot run away from this. This will potentially have a dramatic
impact on the Western Australian economy. I think it is already having an
impact, particularly in the areas of retail and hospitality, in terms of
consumer spend and the like across the Western Australian economy. That is why
every single day I encourage Western Australians to continue to spend and
support their local businesses. I comment on this on every single occasion. I urge
people to do so and not be frightened of supporting their local businesses.
In relation to the potential impact on Australia or Western Australia,
I think it will be more significant than the global financial crisis. In fact,
I think it will be seriously more significant than the global financial crisis.
That is why, currently, in our budget preparations, the Treasurer, the
Expenditure Review Committee, cabinet and I are considering all options. As I outlined to the house yesterday, we have
worked extremely hard over the last three years to get our budget
position back into shape and we have secured surpluses across the forward
estimates and, indeed, a surplus in this financial year—a massive
effort to turn it around. We received considerable criticism over that,
particularly from the Liberal Party. But we have done that to ensure that we
have capacity for times like now. That is a sign of a government that plans for
the future.
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