SA economy slips behind ACT
South Australia has slipped below the ACT in the latest national economic performance rankings released by Commsec today.
The quarterly ‘State Of The States’ report saw New South Wales maintain its position at the top of the economic tree, but the Northern Territory managed to edge out Western Australia for second spot.
The report notes while South Australia is third-ranked on population growth, it is seventh ranked on economic growth, dwelling starts, housing finance and construction work.
Ominously, eighth-placed Tasmania was given a more upbeat assessment, with the report noting “it has held its third-ranked position on unemployment – in fact the jobless rate is at 28-month lows … and construction work is expanding at the fastest annual rate in eight years”.
Opposition Leader Steven Marshall repeatedly referenced the report this morning in an interview on ABC891, as he justified yesterday’s announcement the state Liberals would commit to reinstating the remission on Emergency Services Levy payments removed in last year’s budget.
The savings measure returns around $90 million a year to state coffers, however the Opposition’s bid to make political capital out of escalating ESL bills has thus far been hampered by the fact it had yet to commit to reversing the changes.
It’s the second policy commitment by the Liberals in as many weeks – Marshall last week pledged $20 million to upgrade a major Adelaide Hills traffic corridor – as the Liberals seek to ensure this month’s Davenport by-election doesn’t run to the same script as recent electoral contests.
The party lost a by-election in neighbouring Fisher last month and the state election in March 2014 after running campaigns widely regarded as “small-target” – a point Marshall expressly addressed today.
“We don’t want people out there saying the Liberals are running a small target strategy three and a quarter years out from the election,” he said.
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“Look, it’s the start of a new year; the Premier himself put taxation on the agenda this year and we want to make a bold move … we’re talking about tax relief to South Australian families, we’re talking about tax relief to small business in South Australia.”
The Australian Democrats – whose Davenport candidate Jeanie Walker also stood in Fisher, garnering 195 first-preference votes – have also put the ESL firmly on their by-election agenda.
They’re proposing “reductions in the payment of the ESL for registered and active CFS members, with increasing reductions for years of service”.
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