Eric Roozendaal’s claims about the impact of a NSW Liberals & Nationals Government on the AAA credit rating don’t even withstand the scrutiny of his own Budget Papers, Shadow Treasurer Mike Baird said today.

”If Eric Roozendaal spent less time worrying about me, and more time reading his own Budget Papers, he might realise how ridiculous his claims are,” Mr Baird said.

“Budget Papers 2010-11 show that by 2014, the liabilities-to-revenue ratio that Standard & Poor’s use to assess the AAA is sitting at 108 percent, well below the 120-130 percent trigger level for the AAA,” he said.

“That 12 percent gap is equivalent to more than $9 billion over and above current levels.

“As we have made clear previously, retaining the AAA credit rating is a critical priority and we reaffirmed that today in our policy announcements.

“Eric Roozendaal’s claims about the desalination plant are just plain wrong.

“Our policy clearly states that any debt held against the desal plant would be transferred to the General Government sector, and the proceeds from the transaction would go into Restart NSW, which would leave the total state sector net debt and credit rating position unchanged.

“The only ones confused about the economy are Eric Roozendaal and Kristina Keneally.

“At CEDA on Wednesday Kristina Keneally demonstrated her economic inexperience by stating that NSW State Final Demand had grown at “an annualised rate of 6.8%”.

“If the Premier had actually looked at the figures she would have seen that over the last year NSW State Final Demand grew at only 4.7 percent – slower than the ACT, Victoria, Western Australia and South Australia.

“If Kristina Keneally looked at GSP growth over the last 15 years, she would see that NSW comes dead last.

“The only way to make NSW number one again is to put the right management team in charge.

“While Labor’s policies have resulted in the economic stagnation of NSW, the NSW Liberals & Nationals have practical plans to Make NSW Number One Again” Mr Baird said.

MEDIA: Lisa Harrington - 0406 726 880

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