The latest retail trade figures further highlight that the massive increase in state taxes and charges under the Labor Government are holding back economic and jobs growth in South Australia, Shadow Treasurer Rob Lucas said today.
The December figures released today by the Australian Bureau of Statistics (ABS) show that South Australia is the worst performed of all states and territories in terms of retail trade growth for the month, and also for the last 12 months:
• Retail trade in South Australia for the month of December 2005 was down 0.1% on the previous December (worst in the nation and the only state to fall), against a rise of 3.2% for Australia overall.
• In the calendar year to December 2005, retail trade in South Australia grew by a nation worst 1.4%, compared with 3.0% for Australia as a whole [see chart 1].
The ABS itself states that:
“There has been a decline in the trend estimate for four months. All industries, except Other retailing, had a decline in the trend estimate in December 2005. Household good retailing (11 months), Hospitality and services (six months) and Department stores (four months) have been in decline the longest.”
“Over the term of the former Liberal Government South Australian monthly retail trade growth was ahead of the national average (0.49% for SA against 0.48% Australia).
“However, under the Rann Labor Government South Australian monthly retail trade growth has lagged well behind the national average (just 0.29% for SA against Australia 0.43%).” [See chart 2]
“This year the Labor Government is collecting $2.3 billion more revenue and 34% more in state taxes and charges than four years ago, and it’s clear that long-suffering South Australian taxpayers have less money to spend on retail goods,” Mr Lucas said.
“The Liberal Party is the only Party leading into the election that is promising a comprehensive tax relief package to put more money back in the pockets of taxpayers.”