❓ Mr. Tallentire asks the Treasurer about WA's economic performance and the government's economic management, particularly regarding cost-of-living initiatives. The Treasurer responds by highlighting WA's strong economic indicators and defending the state's GST deal and cost-of-living support.
AnsweredQoN 179Legislative Assembly
QuestionView source ↗
STATE ECONOMY — MANAGEMENT
179. Mr C.J. TALLENTIRE to the Treasurer:
I
refer to the Cook Labor government's efforts over many years to grow
and strengthen the Western Australian economy.
(1) Can the
Treasurer outline to the house how recent economic data demonstrates that Western
Australia continues to be the powerhouse of the nation's economy?
(2) Can the
Treasurer advise the house whether she is aware of any recent commentary on
this government's approach to economic management, including in
relation to cost-of-living initiatives?
179. Mr C.J. TALLENTIRE to the Treasurer:
I
refer to the Cook Labor government's efforts over many years to grow
and strengthen the Western Australian economy.
(1) Can the
Treasurer outline to the house how recent economic data demonstrates that Western
Australia continues to be the powerhouse of the nation's economy?
(2) Can the
Treasurer advise the house whether she is aware of any recent commentary on
this government's approach to economic management, including in
relation to cost-of-living initiatives?
AnswerView source ↗
(1)–(2) I thank the member for Thornlie for that question.
As we know, the Western Australian economy continues to defy expectations and national trends by
growing strongly across all the indicators on jobs growth, state final
demand and exports. Nearly 50 per cent of all national exports come from Western
Australia. Again, despite the many headwinds, in particular the interest rate
increases, we still see consumption in WA continuing to grow and surpass the
figures from the other states. Of course, business investment is another figure that continues to be much stronger than in
other states. WA's state final demand grew by 4.7 per cent in annual average terms last year and is one of
the strongest of all the states. Members, as we know, through COVID and
since COVID, it has been the hardworking Western Australians who have been
supporting the national economy and the national finances. The hardworking Western
Australians in our resources sector and all
industries are contributing to national economic growth and supporting the
state, the national economy and, of course, the national bottom line.
We are investing across the state to
support new developments, whether it be Covalent's Mt Holland mine that
opened just two weeks ago or the new Bellevue Gold goldmine that opened just
last week. In the north, initiatives like the Lumsden Point development will
facilitate the expansion and diversification of the resources sector in the
north west. These projects are underway in Western Australia to support the
economic effort in not only WA, but nationally.
Members,
we know that the other states, in particular South Australia, do not like the
fact that we secured a better GST deal. I say this to some other states but in
particular some national newspapers that continue to have a go at the fact that
Western Australia's GST deal means that we will now be getting 75 per
cent of our per capita share—not 100 per cent, but 75 per cent! That
means we continue to contribute $2.4 billion to the other states. In The Australian Financial Review this morning, we saw an attack on our
cost-of-living payments to hardworking Western Australians, and the idea that
somehow we should not be supporting Western Australians who are out there not
only doing it tough, but also continually contributing to the national economy.
The whole idea is that somehow just because we have a 75 per cent floor, we
should not be subsidising Western Australians' cost of living. I want
to say to other states and some national media that Western Australia continues
to do more than its fair share to help support the national economy. Our GST
floor of 75 per cent still sees us contributing $2.5 billion to the other
states. For the other states to say that they should not be supporting Western Australians'
cost of living shows us how bad the Federation is getting if the other states
and the national media cannot recognise the heavy lifting that Western Australia
is doing.
We will continue to support economic
development in this state. Western Australians continue to work hard to drive our national economy. We will
continue to make sure that WA pays its way in the Federation . We more
than pay our way; we subsidise the other states. When we want to support Western
Australians with their cost of living, it is
because Western Australians deserve it and they contribute to the state economy and the national economy. We will continue to support Western Australians in
whatever way we can.
As we know, the Western Australian economy continues to defy expectations and national trends by
growing strongly across all the indicators on jobs growth, state final
demand and exports. Nearly 50 per cent of all national exports come from Western
Australia. Again, despite the many headwinds, in particular the interest rate
increases, we still see consumption in WA continuing to grow and surpass the
figures from the other states. Of course, business investment is another figure that continues to be much stronger than in
other states. WA's state final demand grew by 4.7 per cent in annual average terms last year and is one of
the strongest of all the states. Members, as we know, through COVID and
since COVID, it has been the hardworking Western Australians who have been
supporting the national economy and the national finances. The hardworking Western
Australians in our resources sector and all
industries are contributing to national economic growth and supporting the
state, the national economy and, of course, the national bottom line.
We are investing across the state to
support new developments, whether it be Covalent's Mt Holland mine that
opened just two weeks ago or the new Bellevue Gold goldmine that opened just
last week. In the north, initiatives like the Lumsden Point development will
facilitate the expansion and diversification of the resources sector in the
north west. These projects are underway in Western Australia to support the
economic effort in not only WA, but nationally.
Members,
we know that the other states, in particular South Australia, do not like the
fact that we secured a better GST deal. I say this to some other states but in
particular some national newspapers that continue to have a go at the fact that
Western Australia's GST deal means that we will now be getting 75 per
cent of our per capita share—not 100 per cent, but 75 per cent! That
means we continue to contribute $2.4 billion to the other states. In The Australian Financial Review this morning, we saw an attack on our
cost-of-living payments to hardworking Western Australians, and the idea that
somehow we should not be supporting Western Australians who are out there not
only doing it tough, but also continually contributing to the national economy.
The whole idea is that somehow just because we have a 75 per cent floor, we
should not be subsidising Western Australians' cost of living. I want
to say to other states and some national media that Western Australia continues
to do more than its fair share to help support the national economy. Our GST
floor of 75 per cent still sees us contributing $2.5 billion to the other
states. For the other states to say that they should not be supporting Western Australians'
cost of living shows us how bad the Federation is getting if the other states
and the national media cannot recognise the heavy lifting that Western Australia
is doing.
We will continue to support economic
development in this state. Western Australians continue to work hard to drive our national economy. We will
continue to make sure that WA pays its way in the Federation . We more
than pay our way; we subsidise the other states. When we want to support Western
Australians with their cost of living, it is
because Western Australians deserve it and they contribute to the state economy and the national economy. We will continue to support Western Australians in
whatever way we can.
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