State Economy

Ms SAVVAS (Newland) (14:20): My question is to the Premier. Can the Premier update the house on the South Australian economy?

The Hon. P.B. MALINAUSKAS (Croydon—Premier) (14:20): While those opposite would have you believe that things aren't performing very well in South Australia, independent organisations such as the Commonwealth Bank say that we have the best performing economy in the nation.

Members interjecting:

The SPEAKER: Order!

The Hon. P.B. MALINAUSKAS: That has been reported on in this place earlier. But today, the ANZ Stateometer released their report. It is telling because, rather consistently with the Commonwealth Bank, the ANZ Stateometer makes it clear that the South Australian economy is leading the way—leading the way.

The South Australian and WA economies are the best performing in the nation. This is obviously in stark contrast to the experience we have seen in the past, but this ANZ Stateometer puts to bed the criticism from the shadow Treasurer, who would have you believe that things aren't travelling well. What the Commonwealth Bank, the ANZ and organisation upon organisation now independently are telling us—

Members interjecting:

The SPEAKER: Order!

The Hon. P.B. MALINAUSKAS: —is that the South Australian economy is performing exceedingly well—

Members interjecting:

The SPEAKER: Member for Morialta!

The Hon. P.B. MALINAUSKAS: —in comparison to the rest of the country. Only minutes after the ANZ Stateometer released their report—

The Hon. V.A. Tarzia interjecting:

The SPEAKER: Member for Hartley!

The Hon. P.B. MALINAUSKAS: —the Australian Bureau of Statistics released another set of economic statistics today regarding what is happening with exports in our country. There is some really interesting data that has come out of this that is rather shocking for many throughout our nation right now. Year on year, New South Wales exports are down 19 per cent; Queensland is down 15 per cent; Tasmania, down 4.4 per cent; NT, down 8.4 per cent; Victoria, down 3.3 per cent; WA, down 1.6 per cent; South Australia, up 8.7 per cent—up 8.7 per cent. So while across the country their value of exports is going down—

Members interjecting:

The SPEAKER: Order!

The Hon. P.B. MALINAUSKAS: —by 7 per cent, we are going up by 8 per cent.

Members interjecting:

The SPEAKER: Order, member for Hartley!

The Hon. P.B. MALINAUSKAS: I want to take the opportunity for acknowledging just how happy the opposition is about this good news.

Members interjecting:

The SPEAKER: Order! Member for Chaffey!

The Hon. P.B. MALINAUSKAS: Their enthusiasm for the positive performance—

Members interjecting:

The SPEAKER: The member for Morialta is warned.

The Hon. P.B. MALINAUSKAS: —of the South Australian economy is here for all to see.

Members interjecting:

The SPEAKER: Member for Chaffey! The member for Schubert is warned.

The Hon. P.B. MALINAUSKAS: Now, what we know is that these numbers matter. These numbers matter, because what it demonstrates—

Members interjecting:

The SPEAKER: Order!

The Hon. P.B. MALINAUSKAS: —is that notwithstanding the economic challenges—

Members interjecting:

The SPEAKER: Member for Chaffey, order!

The Hon. P.B. MALINAUSKAS: —that exist throughout the country, South Australian households and businesses continue to perform well. But we are alive to the fact that while the South Australian economy is performing well, and there are some businesses and some people who are doing very well with it, there are others in our community who aren't necessarily experiencing that.

Members interjecting:

The SPEAKER: Order!

The Hon. P.B. MALINAUSKAS: People who are on fixed incomes; people who are price takers in the labor market, particularly people on low wages, which is why this government has a very deliberate predisposition to make sure that, when we allocate cost-of-living relief, as the Treasurer has done substantially in the most recent state budget, we allocate the support in the community to those who need it most. That is what a good Labor government does: committed to growing the economy, committed to lifting people up but also, where we can, providing support to those who need it most. That is a balance that this government pursues and continues to commit itself to as we contemplate the next budget.

The SPEAKER: Before I turn to the member for MacKillop, I observe that the member for Chaffey is now on two warnings. He will be joined by the member for Morialta and also the member for Hartley.