South Australia Construction Industry In Decline 12 Months Ending June 2012

South Australia Construction Industry In Decline 12 Months Ending June 2012

South Australia Shadow Treasurer Iain Evans

Construction Work Declines Over Past 12 Months

Victor P Taffa

South Australia is the only state in Australia where the value of construction work has declined over the past 12 months.

For the 12 month period ending in June 2012 the value of construction work fell by 7.9 % in South Australia. South Australia was the only state to record a decline.

South Australia was also the only state to record 4 consecutive quarters of decline with the September 2011, December 2011, March 2012 and June 2012 quarters all recording a decline in construction work.

In the latest June 2012 quarter South Australia recorded a 2 % decline- the worst performance of any state in that quarter.

These figures need to be considered in conjunction with the new home sales figures also released today that show that new home sales have fallen for 3 consecutive months; 8.3 % in June, 8.9 % in July and 2.6 % in August.

“The building and construction industry is struggling in South Australia compared to the rest of Australia.” Shadow Treasurer Iain Evans said.

“South Australia’s debt is increasing to over $13 Billion with a budget deficit of $867 Million and interest approaching $2.3 Million per day. State taxes are now the highest in Australia, as a result South Australian’s lack confidence in the Government’s ability to manage the economy and the budget.”

“Australia’s most expensive and worst performing workers compensation scheme doesn’t help and increased cost and complexity of the proposed new Occupation Health and Safety Bill will only increase costs further.” Mr. Evans said.