❓ A parliamentary question regarding the McGowan government's economic stimulus measures, particularly a stamp duty rebate, and the Treasurer's response defending the government's fiscal management and contrasting it with the previous Liberal-National government's record.
AnsweredQoN 933Legislative Assembly
QuestionView source ↗
STATE ECONOMY — STAMP DUTY REBATE
933. Mr M.J. FOLKARD to the Treasurer:
I refer to the suite of
announcements from the McGowan Labor government over the past few weeks,
namely, the school maintenance blitz, the hospital maintenance blitz, the
halving of TAFE fees and today's announcement of a 75 per cent stamp
duty rebate on off-the-plan apartments.
(1) How has the
McGowan government been able to afford these measures to stimulate the state
economy?
(2) What does this show about the
priorities of the McGowan Labor government?
933. Mr M.J. FOLKARD to the Treasurer:
I refer to the suite of
announcements from the McGowan Labor government over the past few weeks,
namely, the school maintenance blitz, the hospital maintenance blitz, the
halving of TAFE fees and today's announcement of a 75 per cent stamp
duty rebate on off-the-plan apartments.
(1) How has the
McGowan government been able to afford these measures to stimulate the state
economy?
(2) What does this show about the
priorities of the McGowan Labor government?
AnswerView source ↗
I thank the member for Burns Beach
for that very good question.
(1)–(2) I
recall when I sat on the other side of the house watching that first term of
the former government—as the Premier said—increasing spend by
26 per cent in the first two years. I often made the case that the former
Liberal–National government was trying to take up the economic and
fiscal capacity of future governments, and that is exactly what it did. When I became
Treasurer and the economy was in recession and revenues were being written
down, my great worry was there would be some form of global economic negative
outcome that would impact us. The state did not have the balance sheet to
respond, because the Liberal–National
government consumed both the largest operating deficits on record and the
largest level of net debt on record. Thankfully, for the first couple of years
of this government, we have kept expense growth low and we have focused on
priorities around economic growth. What does that mean? It means that we can
respond when circumstances require it. That is exactly what we have been doing
of late, both in the maintenance spend around hospitals and schools, and in
halving TAFE fees. I remind the house that when the Leader of the Opposition
was training minister, she increased those fees by over 500 per cent. The
Leader of the Opposition can laugh, but people all over Western Australia could
not afford to get the training and skills that they needed to get a job when we
returned to economic growth, as we have now. This is why the Labor Party always
understands the value of employment—getting a job or increasing the
hours in which one works. That is why the immediate response of the panic
merchants and the economic neophytes on the Liberal side of this house is:
spend, spend, spend! They never thought about where to spend, or what the
outcome of that spend is, and that is why today's announcement is so
important and why it has been so well received, because it is targeted around
generating activity in an area that needs some focus. It also goes to ensure
that we can fix up a historic bias towards house and land packages to encourage
infill housing. People with skin in the game, who know what they are
talking about, such as Paul Blackburne, today said —
''The Government's
reduction in stamp duty will absolutely help buyers to make that decision to
purchase off the plan and downsize, upsize or invest,'' he said.
''It is one of
the most significant initiatives for WA's economy in 20 years.
Mr
Blackburne knows that the Leader of the Opposition wants to introduce
legislation to get rid of infill, to change what we have been doing in infill
now for quite some time. Mr Blackburne knows that that is incredibly damaging
to the economy, and incredibly damaging to jobs in Western Australia. That is
why when we focus on sensible economic and fiscal management, when we return to
a surplus position, when we have debt tracking down, we get the things that the
previous government did not. What is that? A surplus economic growth, credit
rating upgrades and jobs being created. That is the focus of this government.
This decision today is another very good, very targeted announcement that will
generate activity, generate jobs and create a much better future for Western Australians
than one that we inherited, left to us by the Liberal–National
government.
for that very good question.
(1)–(2) I
recall when I sat on the other side of the house watching that first term of
the former government—as the Premier said—increasing spend by
26 per cent in the first two years. I often made the case that the former
Liberal–National government was trying to take up the economic and
fiscal capacity of future governments, and that is exactly what it did. When I became
Treasurer and the economy was in recession and revenues were being written
down, my great worry was there would be some form of global economic negative
outcome that would impact us. The state did not have the balance sheet to
respond, because the Liberal–National
government consumed both the largest operating deficits on record and the
largest level of net debt on record. Thankfully, for the first couple of years
of this government, we have kept expense growth low and we have focused on
priorities around economic growth. What does that mean? It means that we can
respond when circumstances require it. That is exactly what we have been doing
of late, both in the maintenance spend around hospitals and schools, and in
halving TAFE fees. I remind the house that when the Leader of the Opposition
was training minister, she increased those fees by over 500 per cent. The
Leader of the Opposition can laugh, but people all over Western Australia could
not afford to get the training and skills that they needed to get a job when we
returned to economic growth, as we have now. This is why the Labor Party always
understands the value of employment—getting a job or increasing the
hours in which one works. That is why the immediate response of the panic
merchants and the economic neophytes on the Liberal side of this house is:
spend, spend, spend! They never thought about where to spend, or what the
outcome of that spend is, and that is why today's announcement is so
important and why it has been so well received, because it is targeted around
generating activity in an area that needs some focus. It also goes to ensure
that we can fix up a historic bias towards house and land packages to encourage
infill housing. People with skin in the game, who know what they are
talking about, such as Paul Blackburne, today said —
''The Government's
reduction in stamp duty will absolutely help buyers to make that decision to
purchase off the plan and downsize, upsize or invest,'' he said.
''It is one of
the most significant initiatives for WA's economy in 20 years.
Mr
Blackburne knows that the Leader of the Opposition wants to introduce
legislation to get rid of infill, to change what we have been doing in infill
now for quite some time. Mr Blackburne knows that that is incredibly damaging
to the economy, and incredibly damaging to jobs in Western Australia. That is
why when we focus on sensible economic and fiscal management, when we return to
a surplus position, when we have debt tracking down, we get the things that the
previous government did not. What is that? A surplus economic growth, credit
rating upgrades and jobs being created. That is the focus of this government.
This decision today is another very good, very targeted announcement that will
generate activity, generate jobs and create a much better future for Western Australians
than one that we inherited, left to us by the Liberal–National
government.
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