Shadow Minister Media Releases
No Confidence In NSW – Only State To Record Decline In Retail Growth (02/12/2008)
New South Wales continues to drag down the national economy with figures showing it is the only Australian state to record a decline in retail sales in October, the Shadow Minister for Small Business, Don Page said today.
“Latest figures from the Australian Bureau of Statistics shows retail sales in New South Wales easing by 0.2% in October,” Mr Page said.
“When you look at the state trends you see New South Wales has now been in decline for 10 straight months,” he said.
“That is very disappointing but it shows the extreme lack of consumer confidence due to this Labor State Government,” Mr Page said.
“Queensland, Western Australia, South Australia, Victoria, the ACT, Northern Territory and Tasmania all recorded growth in October.
“It shows the Rees Labor Government must do something to promote confidence in New South Wales.
“We are supposed to make the largest contribution to the Australian economy and it is clear, from these latest retail trade results that there is something very wrong.
“New South Wales has long been burdened by a Labor Government intent on excessively high taxes and excessive levels of red tape,” Mr Page said.
“It’s about time this State Labor Government wakes up and realises the damage they are doing to the NSW economy through their incompetent economic management.
“NSW has one of the highest rates of unemployment and the slowest economic growth of any state or territory in Australia,” he said.
“There is no excuse for these continuous shocking results. NSW is the largest economy in the country and this State Labor Government has traditionally collected much higher levels of revenue than they budgeted for, yet the State is still in a mess,” Mr Page said.
