CORONAVIRUS — STATE ECONOMY
3. Mrs R.M.J. CLARKE to the Premier:
Madam Speaker, I, too, would like
to congratulate you on your appointment as Speaker.
I refer to the McGowan Labor
government's commitment to supporting the Western Australian economy
through the COVID-19 pandemic. Can the Premier outline to the house how this
government's efforts to protect and grow the state economy has
supported Western Australian businesses and delivered more jobs for Western Australians?
Mr M.
McGOWAN replied:
I thank the member for Murray–Wellington
for the question and congratulate her on her emphatic victory in her electorate
on 13 March.
The government's priority during the COVID pandemic
has been to keep the health of Western Australians secure but, at the same time, a strong approach to COVID
has resulted in strong economic outcomes for Western Australia. If we
have a strong response to the pandemic and are able to crush the virus within
our state, we will be able to get our economy back and functioning far more
quickly and far more effectively. Indeed, that has been our experience. Western
Australia has been acknowledged in a range of reports as having one of the
strongest economies not just in Australia but also around the world. Deloitte
Access Economics stated earlier this month that, I quote —
Successful management of the pandemic
meant that the Western Australian economy rolled into 2021 in an enviable
position.
A National Australia Bank report
found that it is the control of the virus that gives business stability and the
ability for economic growth in Western Australia. WA's performance has
definitely been one of the best.
Standard and Poor's
released a report earlier this year that said that Western Australia had done
the best of any subnational jurisdiction in the world in economic and debt
management; apparently, member for Wanneroo, the second was North Rhine–Westphalia,
in Germany.
We
now have a record number of Western Australians in work: 1.4 million people. We
have the lowest unemployment rate of all the states, at 4.8 per cent.
That is the lowest it has been in eight or nine years. Since we have been in
office, our government has created almost 100 000 jobs, despite the pandemic. Western
Australia was the only state whose domestic economy grew during 2020; there was
a 2.5 per cent contraction nationally, a 3.3 per cent contraction in New South
Wales and a 5.2 per cent contraction in Victoria.
CommSec admittedly does not use the
best methodology in its reports but, in any event, the other day it indicated
that WA exceeds the national average on seven of the eight indicators that it
looks at, and Western Australia's rating has lifted significantly
compared with other states.
We have put in place a range of
measures during the course of the pandemic to ensure good economic outcomes,
including our $7 billion recovery program. Despite that, we are the only state
that has an operating surplus and we also
have the lowest rate of unemployment. I think we can look forward with optimism
to a strong economy, provided that we can continue to crush the virus
and have good health outcomes in Western Australia.