Thurs 5 March - The NSW Labor Government’s failure to implement a stimulus package has had a significant negative impact on the local economy, as confirmed by today’s Building Approval figures, said Shadow Treasurer Mike Baird.

“Building Approvals for January, fell 19.1 percent seasonally adjusted in NSW.

“That compares to just a 3.7 percent fall nationally.

“The fall in NSW is way beyond anything recorded in the other states.  As a comparison, Victoria’s building approvals rose 1.2 percent.

“We have seen the trend estimate for the total number of dwelling units in NSW fall for 13 months, with another drop of 4.8 percent in January, while the trend estimate for the number of private sector houses fell 2.4 percent, and has fallen for 12 months.

“These figures confirm the long term economic mismanagement of Labor in NSW which is continuing under Premier Rees.

“It is no wonder that the Sensis Business Index on business confidence released today recorded a negative figure for NSW – the first time in the 15 year history of the report that a negative figure has been recorded.

“This is not just a short term blip, this is a sustained pattern. For the 20^th quarter in succession, the NSW Government has had the lowest level of support for a state or territory, at negative 40 percent.

“The key reasons businesses gave for the negative attitude were high taxation, payroll tax policies which do not support small business and a perception that there are internal problems within the government.

“NSW has become the state of no confidence – in which the community has no confidence in the Premier or the Government when it comes to managing the economy and leading us through these challenging economic times.

“Nathan Rees needs to adopt the Coalition’s policy on payroll tax to start restoring confidence in the financial management of the state and cut red tape to get projects going to support the building sector,” Mr Baird said.

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