Shadow Minister Media Releases
Record State Taxes Force NSW Residents To Escape Interstate ( 05/03/2008)
Shadow Minister for Small Business & Regulatory Reform, Don Page MP, today criticised the NSW Government for becoming so dependant on State taxes that it is forcing its own residents to flee interstate.
“The Iemma Government is the highest taxing Government in the country and is regarded as the least business-friendly State by small and medium businesses.
“NSW consistently performs below par on almost every major economic indicator,” Mr Page said.
“Who can blame small business owners and skilled professionals for moving interstate when they face the difficulties of complying with the onerous amount of red tape and excessive State taxes eating into profit margins.
“Not only are we losing blue collar workers but skilled tradespeople are also joining the exodus, exacerbating the severe skills shortage NSW is experiencing,” Mr Page said.
A recent poll found that one in five Sydney residents were considering relocating due to high taxes and living costs in NSW and better job opportunities in other States.
“Small business people are being hit from every direction with stamp duty, mortgage duty, land tax and infrastructure charges on their family home. And then there’s the 23 different taxes the Government imposes on their businesses.
“With NSW having a high unemployment rate, the worst housing affordability and the second worst economic growth in the country, it’s little wonder people are deciding to cut their losses and run,” Mr Page said.
“The Iemma Government must act quickly and decisively to address the crisis NSW is currently in.
“There is no excuse for NSW to be in the situation it is in today, considering the economic boom the rest of the country has enjoyed over the last decade. The people of NSW want to know why their State, that they have paid so dearly for, is in the mess it’s in today,” Mr Page said.
