South Australia’s Economy Continues To Decline

South Australia’s Economy Continues To Decline

South Australia Opposition Leader Isobel Redmond

Foley’s New Year’s Resolution: Increased Taxes?

Victor P Taffa

Embattled Treasurer Kevin Foley has returned to work today with a New Year’s hangover a damning report released on SA’s finances and mounting pressure over his leadership.

“South Australians are paying for Labor’s economic mismanagement, with businesses being slugged the highest taxes in the nation for a second consecutive year.” State Liberal Leader Isobel Redmond said today.

“Research by the Institute of Public Affairs (IPA) indicates that South Australians pay more than double the State and Territory average on Land Tax.”

Mr. Foley acknowledged that SA is in a Poor Position “in comparison with other states.” The IPA report also states that:

“Jurisdictions with a relatively high business tax load tend to maintain relatively weak economic performance over time compared to low-taxing states and territories.”

“Mr. Foley’s slash and burn Budget and high taxes prove that Mr. Foley and the Labor Government is tired, arrogant and out of touch.” Ms. Redmond said.

“It appears Mr. Foley’s New Year’s resolution is to further increase taxes in SA, placing more financial burden on working families.”

“The reality is SA is the Highest Taxed State in the nation, and there’s more to come with the 2010/11 Budget showing a $1 Billion Tax Grab and revenue-raising across the forward estimates.” Ms. Redmond said.

The IPA Report highlights what the SA Liberals have criticised the Labor Government for, but what they choose to ignore:

“To create an economic climate more conducive to economic development and innovation, the government should reduce its above-average tax liabilities.”

(State Business Tax Calculator, IPA, December 2010).

“Mr. Foley has returned to work today with a New Year hangover and appears to care more about his own career as Treasurer than the State’s Finances.” Ms. Redmond said.

“Mr. Foley, Mr. Rann and other Labor MPs need to put the interests of SA before their own political futures.”

“Highly taxed South Australians are paying the price for Mr. Foley’s neglect and mismanagement.” Ms. Redmond said.