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Premier Nathan Rees should be using his begging trip to Canberra to seek advice on what he can do to stimulate the NSW economy and un-wind the damage done by his disastrous mini-Budget, Shadow Treasurer Mike Baird said today.
“Whilst the Federal Government is considering tax cuts, and other governments around the world are implementing stimulus packages, Premier Rees brought down a mini-budget that could only worsen the state’s economy,” Mr Baird said.
“As the Federal Government was handing out money to support the economy, Premier Rees was pocketing it, through increased taxes on families and businesses,” he said.
“Now he has to go begging to Canberra to fix the mess he created.
“It is embarrassing for the people of NSW that their Premier has to run to Canberra to bail it out of its financial disaster.
“How can Premier Rees credibly discuss any stimulus measures – with Prime Minister Rudd or anyone else – when he this week ruled out tax cuts?
“If Mr Rees wants to help NSW, he should just do what his Federal colleagues are going to do – cut taxes as the NSW Liberal/Nationals have proposed.
“We put forward a plan to cut payroll tax by 15% for 2009, as a practical way to help families and business, with a real focus on protecting jobs in NSW.
“The measure would return almost $1 billion to the NSW economy and would be the equivalent of almost 16,500 jobs.
“But Mr Rees ruled it out, as he spent the week juggling internal Labor Party politics rather than developing an economic management plan for NSW.
“Mr Rees must also use today’s meeting to confront the Federal Government over how it can rectify the problems created by the bank guarantee.
“The guarantee has caused NSW’s cost of borrowing to blow out, adding to the state’s financial woes.
“Importantly, there is now the additional the risk, as a consequence of the guarantee, that the NSW government will not be able to raise the funding required for the state’s infrastructure program in the next 12 months,” Mr Baird said. Media Contact: Wendy Black 0418 532 534
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