Shadow Minister Media Releases
Retail Trade Trends Tell A Sad Story For NSW Retailers (08/01/2009)
Retail Trade Trend figures released by the Australian Bureau of Statistics show that despite an increase of 1.9% across Australia, in New South Wales the figure fell.
“New South Wales Retail Trade Trends fell by 2.3% compared to the same time last year,” said Shadow Minister for Small Business, Don Page.
“A 2.3% drop in the retail trend figure is a substantial number. This is the 10th consecutive month that NSW has experienced a decline in its trend figures” Mr Page said.
“NSW should be the most prosperous and fastest growing State in Australia. But instead NSW is going backwards under the incompetent stewardship of this State Labor Government.
“These figures clearly indicate that the NSW Labor Government is letting NSW retailers down.”
A high taxing regime in NSW makes it difficult for NSW businesses to compete and in turn affects retail sales.
A recent study by the Institute of Public Affairs found that a typical medium size business in NSW will pay $27,000 more in State taxes than the same businesses in other States.
“New South Wales small businesses are forced to endure record high taxes and excessive red tape requirements under this incompetent Labor Government,” Mr Page said.
“The tax imposed in NSW is 7% higher than the average across all six states and 14% higher than in Western Australia.
“All other Australian States and Territories have to deal with the same global economic conditions, yet with the exception of Western Australia, they all managed to improve their figures during November,” he said.
“When will this State Labor Government get the message?”
NSW was the only state to experience a negative trend compared to November last year.
“NSW small businesses need a major confidence boost as we head into the difficult economic times ahead.
“Instead, this State Labor Government continue to let small businesses down and hinder NSW growth and prosperity.”
