❓ Mr. Nalder questions the Treasurer about a contraction in State Final Demand (SFD) and accuses them of mismanagement. The Treasurer deflects, blaming the previous Liberal-National government's economic performance and highlighting job creation under the current Labor government.
AnsweredQoN 878Legislative Assembly
QuestionView source ↗
STATE FINANCES —
STATE FINAL DEMAND
878. Mr D.C. NALDER to the Treasurer:
I refer to the recently released Annual
Report on State Finances . Can the Treasurer confirm to the people of Western Australia that the official Treasury
document confirms that, for 2018–19, Western Australia's state
final demand shrunk by 1.1 per cent, and that this is clear evidence
that the Treasurer is mismanaging the Western Australian domestic economy?
STATE FINAL DEMAND
878. Mr D.C. NALDER to the Treasurer:
I refer to the recently released Annual
Report on State Finances . Can the Treasurer confirm to the people of Western Australia that the official Treasury
document confirms that, for 2018–19, Western Australia's state
final demand shrunk by 1.1 per cent, and that this is clear evidence
that the Treasurer is mismanaging the Western Australian domestic economy?
AnswerView source ↗
One thing I can confirm is that at
no point during the second term of the former state government did state final
demand rise. It was not in a quarter, nor a year. At no point did state final
demand grow while the member for Bateman was a minister, or while the person
sitting next to him was Deputy Premier—not once. The previous
government drove state final demand so low that we had our only recession on
record, in 2016–17. It is the only recession on Western Australia's
record, and I want to remind everybody what the former government did. In the 2013–14
year, the former government forecast state final demand contraction of 0.25 per
cent. That is what it forecast, but what did it deliver? It delivered a state
final demand contraction of negative 1.3 per cent—four or five times
higher than it forecast. In 2014–15, the government forecast a flat
zero per cent SFD growth, but what did it deliver? It delivered a 2.2 per cent
contraction. In 2015–16, it forecast a 1.25 per cent SFD contraction
and delivered a 4.7 per cent contraction. Then, in the year in which it plunged
WA into the only recession on record, the government forecast a 3.75 per cent
contraction in state final demand, but delivered 7.1 per cent. At no point did
the Liberal–National government, in its second term, deliver state
final demand growth. That is why, in the second term of the former Liberal–National
government, not one net job was created in Western Australia. That is why we
saw the unemployment rate go from about 2.5 per cent when the former government
came into power, to 6.5 per cent when it left office. That is what happens when
a government destroys the economy.
The
most amazing thing is that state final demand was contracting at that rate at
the same time the former government was
spending like drunken sailors, plunging the state into the largest operating
deficit and largest debt accumulation we have ever seen, yet we still
had the domestic economy contracting at that rate. We finally got state final
demand growth in 2017–18, when the McGowan government came to power, of
about 1.1 per cent, and as we forecast in that year, there was a contraction in
the 2018–19 year as business investment concluded its decline, but what
we are doing, unlike the former government in the face of that, is creating
jobs. We have seen 56 000 jobs created since the McGowan Labor government came
to power, and I remind everybody again that not one net job was created in the
second term of the former government. I am looking forward to the debate this
afternoon, on the same motion that has been moved five or six times in private
members' debate, so that I can again reflect with great flourish on the
economic and fiscal record of the former Liberal–National government.
no point during the second term of the former state government did state final
demand rise. It was not in a quarter, nor a year. At no point did state final
demand grow while the member for Bateman was a minister, or while the person
sitting next to him was Deputy Premier—not once. The previous
government drove state final demand so low that we had our only recession on
record, in 2016–17. It is the only recession on Western Australia's
record, and I want to remind everybody what the former government did. In the 2013–14
year, the former government forecast state final demand contraction of 0.25 per
cent. That is what it forecast, but what did it deliver? It delivered a state
final demand contraction of negative 1.3 per cent—four or five times
higher than it forecast. In 2014–15, the government forecast a flat
zero per cent SFD growth, but what did it deliver? It delivered a 2.2 per cent
contraction. In 2015–16, it forecast a 1.25 per cent SFD contraction
and delivered a 4.7 per cent contraction. Then, in the year in which it plunged
WA into the only recession on record, the government forecast a 3.75 per cent
contraction in state final demand, but delivered 7.1 per cent. At no point did
the Liberal–National government, in its second term, deliver state
final demand growth. That is why, in the second term of the former Liberal–National
government, not one net job was created in Western Australia. That is why we
saw the unemployment rate go from about 2.5 per cent when the former government
came into power, to 6.5 per cent when it left office. That is what happens when
a government destroys the economy.
The
most amazing thing is that state final demand was contracting at that rate at
the same time the former government was
spending like drunken sailors, plunging the state into the largest operating
deficit and largest debt accumulation we have ever seen, yet we still
had the domestic economy contracting at that rate. We finally got state final
demand growth in 2017–18, when the McGowan government came to power, of
about 1.1 per cent, and as we forecast in that year, there was a contraction in
the 2018–19 year as business investment concluded its decline, but what
we are doing, unlike the former government in the face of that, is creating
jobs. We have seen 56 000 jobs created since the McGowan Labor government came
to power, and I remind everybody again that not one net job was created in the
second term of the former government. I am looking forward to the debate this
afternoon, on the same motion that has been moved five or six times in private
members' debate, so that I can again reflect with great flourish on the
economic and fiscal record of the former Liberal–National government.
Explore WA Government Data
Search the full archive in the free dashboard, or query programmatically via API.
Explore more
Government Gazette
Appointments, regulatory notices, planning changes.
Hansard
Debates, questions, speeches and sentiment.
Tabled Papers
Reports and documents tabled in Parliament.
Committees
Committee profiles and recent reports.
Regulations
Subsidiary legislation with filters and summaries.
Bills
Proposed laws and parliamentary progress.
Acts
Current WA legislation and summaries.
Explanatory Memoranda
Bills with EMs (text/PDF) available.
Members
MP profiles, party breakdown and rankings.
Pollie Rankings
Data-driven rankings across 19 categories.
Amendment Chains
Track how schemes and regulations evolve over time.