South Australia’s success during the pandemic is down to both “strong health outcomes and strong government support” and SA had “aced that double”, according to the latest Deloitte Access Economics Business Outlook.
Deloitte points to the state’s high level of public investment in infrastructure such as roads, hospitals and business hubs, as well as private investment bouncing back as other promising signs for SA.
Housing construction is “rocketing along”, supported by government incentives, record low interest rates and the reversal of population outflows.
Treasurer Rob Lucas welcomed the report’s findings, which follows the independent ratings agencies acknowledging the Marshall Liberal Government’s strong financial management after the release of the Government’s Mid-Year Budget Review.
“While there are more South Australians employed than ever before, with SA the fastest growing economy in the nation, it’s important that we keep the momentum going to ensure SA’s strong economic recovery from the global COVID-19 pandemic continues,” Mr Lucas said.
“Deloitte also notes that the Marshall Government is ‘investing heavily in becoming a renewable, space and defence hub’ which is attracting highly skilled jobs to the state – which is not only a credit to the Premier but of course all those businesses, industries and institutions which are partnering with Government to create these opportunities.
“However, we know we must continue to protect jobs and support SA businesses to get through these challenging times so they can help drive our economic recovery – which is exactly what our recently announced business support package does.
“South Australians have done an incredible job of working together and now is the time to continue to pull together to support our hardworking small businesses who are the backbone of the state’s economy.”