As NSW faces potential loss of its AAA credit rating, local Member for Davidson, Jonathan O’Dea, believes the NSW Government should itself be rated AAA for “Amateur, Arrogant and Appalling”.
“Had the NSW Labor Government been more economically responsible and less wasteful over the past 13 years, New South Wales would not be facing such a deep financial crisis, which is impacting people in Davidson” he said.
“At a time of considerable world financial pressure, the State has the highest unemployment rate in the country and disturbing economic performance, largely due to enormous government waste and mismanagement.
“In a desperate attempt to retain its financial credibility, the Labor Government has been forced to prepare a mini budget, which will inflict even more pain next month,” Mr O’Dea said.
“In May this year, the then Treasurer delivered a budget with a forecast surplus of $268 million. Now, less than six months later, the Government is considering extreme measures to plug an estimated $1 billion deficit. How could Labor get it so wrong?
“By the Government’s own admission, we are likely to suffer even more pain if the economy loses its current AAA credit rating,” Mr O’Dea said.
“Local businesses are less likely to invest if they think there may be increased taxes or cuts in services to address the economic shortfall. Less business investment locally means even fewer jobs and higher unemployment.
“The government should hang its head in shame over its AAA Rating of ‘Amateur, Arrogant and Appalling’ in governing NSW,” Mr O’Dea concluded.
