Page 279 - Week 01 - Thursday, 13 February 2020
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The issues are complex, and it is not possible to respond to all issues potentially requiring legislative reform in the time available in the 9th Assembly. In accordance with my obligations under the Mental Health Act, I commend the report to the Assembly.
Question resolved in the affirmative.
2019-20 budget review
Ministerial statement
MR BARR (Kurrajong—Chief Minister, Treasurer, Minister for Social Inclusion and Equality, Minister for Tertiary Education, Minister for Tourism and Special Events and Minister for Trade, Industry and Investment) (3.39): The 2019-20 budget review continues our investment in Canberra’s future to ensure that we are prepared for the social, environmental and economic challenges and opportunities that lie ahead. The government is building upon our record of investing where and when it is needed to ensure the delivery of high-quality essential services and infrastructure to the community.
This budget review coincides with the start of a new decade. Unfortunately for the territory and the broader region, the start of this decade has been marked by unprecedented and unrelenting bushfire activity and natural disasters.
Through this decade the government plans to build on and secure a better future for Canberra. We are providing services that matter: more surgeries and services in our hospitals, expanded capacity for our local schools, efficient road and public transport networks, protecting our environment, and ensuring that there is support for those who need it most.
We are also working to maintain a strong economy, one that creates secure local jobs that are rewarding and valued. Our efforts towards economic diversification continue to see significant results, with around 60 per cent of the new jobs created since the beginning of 2016 being in the private sector. Furthermore, the growth in the ACT economy continues to be broad based, with 18 of the territory’s 19 industry categories recording growth in 2018-19. The only industry not to follow this trend was our small and historically volatile mining industry.
The territory remains one of Australia’s strongest economic performers. In the 2018-19 fiscal year, our real gross state product increased by three per cent. That was the equal second highest growth rate of any jurisdiction in the nation and well above the national rate of growth of two per cent. Solid economic growth in the territory builds on our previous strong growth outcomes. To put that in a monetary perspective, over the past four years the ACT economy has grown from $34.5 billion in 2014-15 to $41.6 billion in 2018-19 in nominal terms. In other words our economy has grown at an average of $1.8 billion per annum over this period.
Our economic performance is reflected in the territory’s employment and population outcomes, with our unemployment rate in December 2019 of 3.1 per cent being the
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