❓ Mr. Nalder questions the Premier about the WA economy's performance, specifically referencing a reported decline. The Premier refutes this, highlighting economic growth, job creation, and addressing international headwinds like the coronavirus and US-China trade relations.
AnsweredQoN 21Legislative Assembly
QuestionView source ↗
STATE ECONOMY
21. Mr D.C. NALDER to the Premier:
Can the Premier confirm that the
government's midyear review handed down over the summer break
clearly states that the domestic economy went backwards by one per cent last
financial year?
21. Mr D.C. NALDER to the Premier:
Can the Premier confirm that the
government's midyear review handed down over the summer break
clearly states that the domestic economy went backwards by one per cent last
financial year?
AnswerView source ↗
The state's economy is
growing, although the shadow Treasurer does not quite understand that, and we
pulled the economy out of recession. That is a fact. In the previous government's
final year in office, the economy declined by two and a half per cent—the
only recession on record. The previous government's last term in office
saw job losses in the vicinity of a 30 000 decline or contraction in the number
of people employed. Over our three years, or
thereabouts, in government, 50 000 new jobs have been created, the state's
economy is growing and it is predicted to grow by three per cent in the
coming financial year. They are the facts. The member does not seem to
understand that. He is always looking for something to be negative about. I warn
everyone here that there are headwinds internationally that we all need to —
Several members interjected.
The SPEAKER : Members!
Mr
M. McGOWAN : The novel coronavirus
has essentially cut off people from China, or who have transited through China, from going elsewhere. There is a big headwind for the entire world
economy. The Chinese economy is now the second, or biggest, economy in the
world and our major trading partner. If anywhere in the world can be affected by this situation it is Western Australia
because China is our major trading partner. As I said here yesterday , the scale of the trade between WA and China is,
frankly, enormous, in both services and commodities, and agricultural and fishing products. These are serious headwinds that we have to confront, and
flippant comments and silly laughter when these sorts of matters are raised —
Mr D.C. Nalder : It's
your spin.
Mr M. McGOWAN : The member
actually said it was spin. Has he actually spoken to the Prime Minister about
it? I have spoken to the Prime Minister about it.
Mr D.C. Nalder interjected.
The SPEAKER : Member for
Bateman!
Mr B.S. Wyatt interjected.
Mr M. McGOWAN : Pardon?
Mr B.S. Wyatt : He is saying
that the Prime Minister overreacted.
Mr M. McGOWAN : Spin! I have spoken
to the Prime Minister about it. Both that issue and the bushfire issue are big
issues for the entire country. As I explained to the house yesterday, the
bushfire issue, which as we know affects predominantly South Australia,
Victoria and New South Wales where it was extreme, impacts the entire national
economy. I think it will also impact the federal government's capacity
and where it spends because, obviously, the rebuilding of these communities
will be a significant issue for it. There are two major issues, and do not even
get me started on the trade relationship between the United States and China,
which also has the capacity to hurt Western Australia. This is why having a government
that gets the finances back into surplus, that lifts the credit rating, and
that has a focus on stable and responsible management is very important for
this state.
growing, although the shadow Treasurer does not quite understand that, and we
pulled the economy out of recession. That is a fact. In the previous government's
final year in office, the economy declined by two and a half per cent—the
only recession on record. The previous government's last term in office
saw job losses in the vicinity of a 30 000 decline or contraction in the number
of people employed. Over our three years, or
thereabouts, in government, 50 000 new jobs have been created, the state's
economy is growing and it is predicted to grow by three per cent in the
coming financial year. They are the facts. The member does not seem to
understand that. He is always looking for something to be negative about. I warn
everyone here that there are headwinds internationally that we all need to —
Several members interjected.
The SPEAKER : Members!
Mr
M. McGOWAN : The novel coronavirus
has essentially cut off people from China, or who have transited through China, from going elsewhere. There is a big headwind for the entire world
economy. The Chinese economy is now the second, or biggest, economy in the
world and our major trading partner. If anywhere in the world can be affected by this situation it is Western Australia
because China is our major trading partner. As I said here yesterday , the scale of the trade between WA and China is,
frankly, enormous, in both services and commodities, and agricultural and fishing products. These are serious headwinds that we have to confront, and
flippant comments and silly laughter when these sorts of matters are raised —
Mr D.C. Nalder : It's
your spin.
Mr M. McGOWAN : The member
actually said it was spin. Has he actually spoken to the Prime Minister about
it? I have spoken to the Prime Minister about it.
Mr D.C. Nalder interjected.
The SPEAKER : Member for
Bateman!
Mr B.S. Wyatt interjected.
Mr M. McGOWAN : Pardon?
Mr B.S. Wyatt : He is saying
that the Prime Minister overreacted.
Mr M. McGOWAN : Spin! I have spoken
to the Prime Minister about it. Both that issue and the bushfire issue are big
issues for the entire country. As I explained to the house yesterday, the
bushfire issue, which as we know affects predominantly South Australia,
Victoria and New South Wales where it was extreme, impacts the entire national
economy. I think it will also impact the federal government's capacity
and where it spends because, obviously, the rebuilding of these communities
will be a significant issue for it. There are two major issues, and do not even
get me started on the trade relationship between the United States and China,
which also has the capacity to hurt Western Australia. This is why having a government
that gets the finances back into surplus, that lifts the credit rating, and
that has a focus on stable and responsible management is very important for
this state.
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