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Legislative Council - Fifty-Fourth Parliament, First Session (54-1)
2019-11-12 Daily Xml
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Question Time

Business Confidence

The Hon. C.M. SCRIVEN (14:24): My question is to the Treasurer. What personal responsibility does the Treasurer take for driving business confidence in South Australia to its record low, following three consecutive quarters of decline in business confidence?

The Hon. R.I. LUCAS (Treasurer) (14:24): I welcome the promotion of the Hon. Ms Scriven to, evidently, the Leader of the Opposition's position. I am not sure that it is actually within the standing orders to move outside your designated seat in the chamber. As soon as there is a vacancy, they move very quickly in the Labor Party. There is a 24-hour gap and zoom, she's in there.

The PRESIDENT: Keep it on point, the Hon. Mr Lucas.

The Hon. R.I. LUCAS: I am not sure that it's correct from the standing orders.

The PRESIDENT: I will reflect on the standing orders, but thank you for your advice.

The Hon. R.I. LUCAS: In relation to the honourable member's question on the surveys, it depends which particular survey you wish to pick. The member has referred to the survey in the paper this morning. I am advised that NAB released their regular survey today, which indicates that in South Australia business confidence over the last month actually increased by 4 per cent. When you look at the summary of the National Australia Bank, they say:

What is confidence like across the states? Confidence rose in all states except WA, which fell sharply.

Where are we seeing the best conditions by state? Conditions rose in all states except NSW and QLD…In trend terms, conditions are most favourable in NSW, followed by WA and SA. VIC and QLD are weakest at 0 index points.

The NAB survey, which has come out today, as well, in terms of business confidence, shows a 4 per cent increase in South Australia, a 12 per cent decline in Western Australia, and a 1 per cent increase in New South Wales and Victoria. So business confidence, according to the National Australia Bank, is better than New South Wales and Victoria, much better than Western Australia and twice the Australian figure, which was 2 per cent. In terms of business conditions change, there was an increase of two points in South Australia, whereas in New South Wales and Queensland there was no improvement at all—it was 0 per cent.

It is unsurprising that the opposition would seize on the one survey that suits their argument. It is also unsurprising that the conflicting evidence from the National Australia Bank, which points to increasing business confidence in South Australia, the Leader of the Opposition or the Acting Leader of the Opposition or the de facto leader of the opposition—I am not sure how she so describes herself—the putative leader of the opposition, the claim-jumping, seat-jumping leader of the opposition, would choose the one particular survey that serves their argument. The National Australia Bank paints an entirely different position.

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