‘No-one wants a recession’

Peter Debnam's Blog - Wednesday, 7th March 2007 

This morning we all woke up and wondered whether today we would learn that NSW was in recession.

That’s NOT how things should be in NSW.

Last year, I highlighted where our economy was headed and put forward an economic rescue plan to fix it. Since then I have continued to fight to make the Government take our economic crisis seriously.

New figures released today that show NSW is not in recession are welcome. But I wish all the indicators were as positive. The building and construction industry is struggling. Investment is down and business confidence needs to be stronger. More people are moving interstate than coming here and we pay more tax per person than in any other state.

Not since 1998 has the NSW economy been on top of the national leader board – that’s almost ten years – and we’re still waiting.

The mere fact that there was even a prospect of recession shows just how close to the edge things are in NSW under Labor.

I welcome today’s economic figures that show NSW is not in recession. No-one wants a recession in NSW. Unless we have a strong economy it will be even more difficult to fix the problems that Labor have created.

And we do need to fix them – our hospitals, our schools, the water crisis, public transport, bungled infrastructure and the list goes on.

It doesn’t have to be like this. NSW has the largest economy in the nation. We should be - and can be again - the economic powerhouse of Australia.

That’s where we want to take NSW, back to the top, where it should be. And it can be done.

NSW has everything going for it – the people, the industries, the resources, the finances, the entrepreneurs. No state has greater opportunities than NSW.

But for 12 years, Labor has not made the most of them.

During a time of strong national economic growth, when other states have invested for their future and moved ahead, NSW has fallen behind. 

NSW must become more competitive. But to fix NSW, you must first acknowledge there’s a problem. Unless you do that, there’s no hope of fixing it.

Next, you must prove that you are serious about fixing NSW,

… you must cut tax – like land tax and payroll tax

… you must get control of the state budget and the state bureaucracy,

… you must change how government is run so the administration costs are less and can deliver better services, and

… and you must build the infrastructure that will enable NSW to grow. 

You can’t build a 21st century economy with worn out infrastructure.

Labor will not make these changes, we will.

As this campaign goes on, Morris Iemma and Labor are becoming increasingly cocky by the day.

Imagine what Michael Costa, Joe Tripodi and Frank Sartor will be like if Labor wins – even worse if they win easily.

So our message today is the same.

To fix NSW vote Liberal or National. To leave things as they are, vote Labor.

It’s a simple choice.

Regards,

Peter Debnam

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