“Attempts by the NSW Government to portray the state economy as ‘leading the national recovery’ are laughable”, Sydney Morning Herald 13-1-10

The recent rise in job advertisements is welcome news, however it is only one economic metric and substantial action is required from the NSW Labor Government to restore the State’s economy, Shadow Treasurer Mike Baird said today.

“We hope tomorrow we see the unemployment rate fall but an independent study just revealed NSW as the worst performing economy in the nation,” Mr Baird said.

“With this in mind it is extraordinary the acting Treasurer would say NSW is leading the national recovery.

“As the Sydney Morning Herald reported today, it is exactly this sort of denial of the State’s problems and governing by spin that has seen NSW languish for so long.”

Economics writer at the SMH, Jessica Irvine, reported today there are, “symptoms of a deeper delusion in Macquarie Street about the economic shambles this state has become, and a blindness to the challenges it faces in the coming decade” (pg 13).

“While we certainly welcome any indication of an improvement in our jobless rate, we have a long way to go with unemployment in NSW,” Mr Baird said.

“NSW has had the worst or among the worst unemployment rate in the nation since 2005.

“We will not see any tangible improvement in the State’s economy while the NSW Government continues to only embrace the good news and deny the bad.”

CommSec’s State of the States report released this week found NSW was ranked last over the past decade across key economic indicators such as home building starts, construction work, unemployment and economic growth.

“The cost of doing business in NSW is far greater than other States due to our high regulation and uncompetitive taxes.

“There is no incentive to invest in NSW and as a result economic activity over the past decade in NSW has been the lowest in the country.

“If the NSW Labor Government wanted to provide a genuine boost to jobs across the State, it would implement our payroll tax plan.”

Write Comment

Please keep the topic of messages relevant to the subject of the article. Personal verbal attacks will be deleted. Please don't use comments to plug your web site. Such material will be removed.
Name:
E-mail
Subject:
Comment:
Code:*

Be first to comment on this article