ECONOMIC STATEMENT POINTS TO FAIR SHARE OF THE FUTURE

18 March 2009

The Economic Development Board's state economic statement rightly says that pursuit of a credit rating should not be allowed to compromise the state's capacity to consolidate for the future.

SA Unions Secretary, Janet Giles welcomes the statement's long term focus and the attention it gives to the real and fundamental issues facing South Australia.

"This report is well structured, well thought out and on the right track.  Like the SA Unions Agenda "A Fair Share of the Future", it strongly recommends a robust approach to securing our economic health through infrastructure, jobs creation and social investment in key areas such as climate change and emerging industries."

"It is heartening to look through the EDB's list of key recommendations and find so much in common with our "a Fair Share of the Future" Agenda.  This is a good platform that we would urge the state government to embrace", Ms Giles says.

"We particularly welcome some of the EDB's more far reaching initiatives including:

• Building a renewable energy economy that addresses water supply and climate change

• Addressing skills training and workforce participation

• Ensuring that all South Australians benefit from economic growth - especially disadvantaged groups

• Shifting our manufacturing base to industries that will survive the long term

• Investment in infrastructure such as improved transport".

"Some areas are yet to be addressed, such as our call for increased mining royalties and sharing the wealth from the exploitation of these natural resources."

"We also urge the government to be cautious about reviewing regulation - many regulations are there to protect workers, the community and the environment and we wouldn't support any deregulation that undermines that."

"But on the whole, the EDB report makes practical, sustainable, prudent recommendations to secure our state's long term economic and social health."

"The challenge now for the Rann government is to align this year's state budget to this statement to ensure that the global financial crisis doesn't overshadow the long term strategies in this plan", Ms Giles says.