On July 31 on his Facebook campaign page, Nationals candidate in the Page electorate Kevin Hogan stated: "After six long years of Labor mismanagement, the Northern Rivers economy is nowhere near as strong as it could be. Debt has grown to record levels, unemployment has risen and local families are struggling with rising costs."
Sounds as though our region is in dire straits doesn't it? But how factual is that statement?
Looking first at the unemployment rate in those regions into which the Northern Rivers falls.
It was 16.2% for Richmond-Tweed and Mid North Coast in July 2013, down from 17% in November 2007 (ABS Cat. No. 6291.0.55.001) and across the Northern Rivers has been trending down since peaking during the global financial crisis (Regional Development Australia: Northern Rivers, 2013).
In fact: "The number of employed persons in regional NSW grew by 7.2% (85,000 persons) between 2008 and 2013. Newcastle experienced the largest growth (22,600 persons) followed closely by the Richmond-Tweed and Mid North Coast region (19,700 persons)," as cited in NSW Regional Labour Force Trends: Statistical Indicators 3/2013.
So local employment has actually grown during the almost six years there has been a Federal Labor Government.
Turning now to the regional economy.
Regional Development Australia's documents show that the Northern Rivers Gross Regional Product (GRP) has continued to grow annually. In 2008/9 it was $7.8billion, in 2009/10 it was $11.1billion and by 2011/12 the annual growth of GRP was 11.4% compared with overall NSW GRP growth at 2.2%.
Which means the Northern Rivers has been outperforming the state average when it comes to GRP growth - that doesn't happen if a regional economy is not reasonably strong.
Next, how are people faring in the Northern Rivers with cost-of-living pressures as opposed to lifestyle pressures?
Well, the Life Cost Index (LCI) for employee households rose 1.4% through the year to the June quarter 2013 compared to the Consumer Price Index (CPI), which rose 2.4% through the year to the June quarter 2013 (Selected Living Cost Indexes, Australia, June 2013). In June 2007 when the Coalition was last in power, the CPI rose 3.1% for employees (Analytical Living Cost Indexes for Selected Australian Household Types, June 2007).
However, if you are a self-funded retiree or receiving a Centrelink/Veterans Affairs pension, then the LCI and CPI percentage changes actually fell between June-September 2012 and March-June 2013 (ibid). Presumably because income/tax concessions/government cash transfer levels increased.
Comparing March-June 2007 with March-June 2013, then the CPI fell from being between 2.2-2.8% to 0.4% for those receiving Centrelink/Veterans Affairs pensions.
So when it comes to cost of living, Northern Rivers residents are not faring any worse under a Federal Labor Government.
Finally, the question of debt levels. Mr Hogan did not specify whether he was referring to Northern Rivers public or private debt, so looking for answers is a waste of effort at this time.
For the record, I have never been a member of a political party.
No comments:
Post a Comment