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Legislative Council - Fifty-Fourth Parliament, First Session (54-1)
2018-08-01 Daily Xml
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Business and Consumer Confidence

The Hon. D.G.E. HOOD (15:15): My question is to the Treasurer. Will the Treasurer outline for the chamber the likely impact on the South Australian economy of the record levels of business and consumer confidence, as recently reported publicly?

Members interjecting:

The PRESIDENT: Order!

Members interjecting:

The PRESIDENT: Have we all finished? Can we have some order? I would like to hear the answer from the Treasurer. Treasurer, you have the call.

The Hon. R.I. LUCAS (Treasurer) (15:16): Thank you, Mr President. I couldn't hear myself think over the cacophony of squealing from the opposition benches. So thank you, Mr President, for your protection. As Treasurer, I need protection. I thank the honourable member for his very important question because there have been a number of, I think, important indicators for the state of South Australia, which ought to be enormously encouraging, not only for businesses in South Australia but for the consumers in South Australia as well.

The recent surveys have been well publicised in the media. I think I referred, in response to a question yesterday, to the Sensis survey of small and medium-sized businesses. I was almost embarrassed to read some elements of that press release, so glowing were small business in their praise of the new Premier and the new government, and so damning of the former government and former ministers. As I said, I was red-faced with embarrassment—almost—as I read out that particular paragraph from the small and medium-sized business survey conducted by Sensis. The survey, which hasn't attracted much publicity in this house, was the survey published on Friday or Saturday in The Advertiser conducted by Bank SA and another organisation that they collaborate with.

That, too, highlighted the enormous boost in business and consumer confidence in South Australia and in South Australians since the March election. We shouldn't underestimate the importance, in terms of turning the state economy around, of confidence and optimism in the future. From the consumer's viewpoint, as from 1 July this year, the government kept its most significant financial commitment to struggling South Australian families and households: that we would put $90 million back into their pockets to spend rather than into the pockets of politicians and public servants to waste, as the former Labor government had done over 16 years.

That's $90 million that families in South Australia are spending, and will be able to spend, on goods and services with small and medium-sized businesses in South Australia. That's good for the families, but it's also good for small and medium-sized businesses in South Australia, that they have that particular money to spend.

The confidence from the small business sector, which is the backbone of the state's economy, is being driven in large part not just by the fact that consumer confidence is turning around but because many of them know that, as from 1 January next year, none of the small businesses with payrolls under $1.5 million will pay a single dollar in payroll tax. I do not expect members of the Labor Party or the opposition to mix freely with members of the small business community. Their former premier indicated that he wasn't much of a supporter of private enterprise or the free enterprise system. Sadly, that is the brush which tars the attitude of the Labor opposition.

Members interjecting:

The PRESIDENT: Order!

The Hon. K.J. Maher interjecting:

The PRESIDENT: Leader of the Opposition, please cease your commentary. Treasurer, go on.

The Hon. R.I. LUCAS: Mr President, I can hardly hear myself speak. In relation to the huge boost in confidence for the small business community, we see the issue—

The Hon. I.K. Hunter: It's alright, Jing, he'll be back tomorrow. Maybe we'll get an answer from you then.

The PRESIDENT: The Hon. Mr Hunter, please let the Treasurer answer.

The Hon. I.K. Hunter interjecting:

The PRESIDENT: Order, the Hon. Mr Hunter!

Members interjecting:

The PRESIDENT: If the Labor benches are going to continue this, they won't be getting the call tomorrow.

The Hon. R.P. Wortley: That's pretty tough.

The PRESIDENT: Hon. Mr Wortley, I learnt it from a previous president.

Members interjecting:

The Hon. R.I. LUCAS: I think you've just been told to be quiet.

The PRESIDENT: Treasurer, please go on. There might well be crossbenchers who wish to ask a question.

The Hon. R.I. LUCAS: WeIl, I think we have had a huge number of questions today, a world record number of questions, Mr President. Certainly—

Members interjecting:

The PRESIDENT: Order!

The Hon. R.I. LUCAS: Certainly, there can be no criticism of this government in relation to the world record number of questions that are allowed to be put by members of the opposition or the crossbenchers. I won't be diverted, because the members of the opposition are trying to divert me from answering this important question. Small business confidence is critical to turning around the state's economy. We have highlighted before that the economic and jobs growth figures in South Australia have to be turned around.

There are encouraging signs in relation to the unemployment rate, but when you look at the participation rate figures in South Australia, which are lower than the national average, and when you look at the underemployment rate in South Australia, our underemployment rate is higher than the national average because unemployment and employment is measured on the basis of you have a job and you are employed if you are working for one hour a week. Our underemployment rate in South Australia is significantly higher than the national underemployment rate as well.

They are figures that the new government has pledged to try to turn around. That is what the state budget is for. We have already started some initiatives. The payroll tax changes and the changes in terms of infrastructure investment will be continued, maintained, increased and improved over the forward estimates period. It will be all about trying to ensure that we can see not only growth in the state's economy but that we can also see, most importantly, jobs growth in South Australia, growth not only in the small and medium-sized business sector in South Australia but jobs growth right across the sectors. As my colleague the Hon. Mr Ridgway has identified, there are huge job opportunities for growth in regional economies in regional communities that he and other ministers have been seeking to drive.

I know I am running out of time, but I would like to make the particular point that, in terms of the state's economic future, there is unashamedly a pro-growth narrative being driven by the Premier himself and the government. Part of that is, unashamedly, pro-population growth in South Australia. The former government, the former premier and now the Labor opposition have opposed population growth for South Australia.

That is a completely different narrative and a completely different approach from Premier Marshall and the Marshall government. We are unashamedly supportive of growing our population base in South Australia. The more we can grow population in South Australia, the more we can see houses being built and commodities being required for those particular houses, and that will be an important part of what the Marshall Liberal government will be seeking to drive, not just from the 4 September budget but from future budgets over the first term of the Marshall government.

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