GREG OATES: The Commonwealth Bank’s State of the States publication, suggests “there is a gap to South Australia and then another gap to Tasmania, which underperformed on all eight indicators”.
CommSec’s report is not a report on SA’s economic resilience or quality of life. It is a biased commentary based on indicators that have one purpose – measure the things that bring the most profit growth for the Commonwealth Bank, like housing construction and subsequent mortgage growth.
If we flick to the back of the report, under “other indicators” we see the strongest growth in Australian real wages (spending power adjusted for inflation) occurred in Tasmania. This is mainly because a stable population, meaning stable demand, helps ease cost-of-living pressures for finite resources including land, energy and water. SA also managed to knock off all the eastern states in real wage growth.
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SA must think better, not bigger. To build a better quality of life for our children and grandchildren, SA’s economy must be decoupled from unsustainable industries that require ongoing population growth or environmental degradation. It needs a more diverse and resilient economy and not more people to simply spread finite resources like water and land thinner and ultimately create more unemployment.
Greg Oates is an SA Senate candidate for the Stable Population Party.
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