House of Assembly Fifty-Fifth Parliament, First Session (55-1) 55 1 Parliament of South Australia House of Assembly published Question Time State Economy State Economy Mr ODENWALDER House of Assembly Elizabeth State Economy Mr ODENWALDER (Elizabeth) (14:29): My question is to the Treasurer. Can the Treasurer update the house on changes to the South Australian economy since the election of the Malinauskas Labor government? The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries State Economy The Hon. S.C. MULLIGHAN (Lee—Treasurer) (14:29): I am very grateful to the member for Elizabeth for this question because it is a really important question two years after the election of the Malinauskas Labor government: how the state's economy has performed. It might be a laughing matter to the member for Schubert, but this is something which is really important to many, many thousands of South Australians. For example, the extra 40,000 South Australians in a job now who weren't in a job— Members interjecting: The Speaker House of Assembly The SPEAKER: Order! The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: —when she was the principal adviser to the failed premier, the former member for Dunstan, Steven Marshall. Forty thousand more people are in work compared to her time of superintendence of public affairs, which is a remarkable record. Even better, more than half of them—23,000 of those 40,000—are in full-time work. What it means— Mr Cowdrey interjecting: The Speaker House of Assembly The SPEAKER: Order! The member for Colton is warned. The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: —is the unemployment rate is nearly a full percentage point lower now than what it was the last time they were in government. Mr Cowdrey interjecting: The Speaker House of Assembly The SPEAKER: Member for Colton! The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: It is nearly a full percentage point lower, and you can hear the shadow treasurer whingeing about the good economic news. He's only happy when it rains but it's good news for the state's economy. You don't have to take my word for it, Mr Speaker. The CommSec State of the States report lists us as the best-performing economy in the nation. Number one. The ANZ Stateometer lists South Australia, along with our very well-funded friends, Western Australia, as being the two states leading the nation in economic performance—really, really good news. Even those close, close comrades of the Labor movement—the Institute of Public Affairs—last week ranked South Australia as the second-best performing economy with per capita economic growth. Of course, nationally, economic commentators say that our nation is in a per capita recession but they have listed us in South Australia performing well for per capita economic growth, for business investment, for productivity growth—really, really good news. Of course, last year in 2023, South Australia was ranked the best place in the nation to do business by none other than the Business Council of Australia. Members interjecting: The Speaker House of Assembly The SPEAKER: Order! Member for Colton! The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: So those people who know about the economy— Mr Cowdrey interjecting: The Speaker House of Assembly The SPEAKER: The member for Colton is warned. The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: —in contrast to the member for Colton, screaming his head off against this good news, have been ranking us as performing strongly. One of the other reasons is because in the last financial year South Australia led the nation, led all states, for economic growth. Now, that is a position that our state has not enjoyed for a very, very, very long time. You only have to talk people out on the street. There is now a buzz around South Australia which was lacking during the doldrums— Members interjecting: The Speaker House of Assembly The SPEAKER: Order! The member for Colton is warned for a final time. The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: —of the Marshall years— Members interjecting: The Speaker House of Assembly The SPEAKER: Member for Chaffey! Member for Hartley! The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: —of land tax, when they drove business investment and confidence through the floor because they mishandled the treasury benches. It has been two years— Mr Brown interjecting: The Speaker House of Assembly The SPEAKER: Member for Florey! The Hon. S.C. MULLIGHAN House of Assembly Lee Treasurer Minister for Defence and Space Industries The Hon. S.C. MULLIGHAN: —of great economic performance, of us investing in the economy and, pleasingly, South Australians reaping the rewards. Members interjecting: The Speaker House of Assembly The SPEAKER: Order! The member for Colton, the member for Morialta and the member for Florey are on final warnings.