New Labor leader Jodi McKay struggles to recall key economic details on first day
The state’s new Labor leader Jodi McKay has admitted she “should have known” her sums after an embarrassing blunder where she incorrectly stated the net debt and unemployment rate during her first day on the job.
The state’s new Labor leader Jodi McKay has admitted she “should have known” her sums after an embarrassing blunder where she incorrectly stated the net debt and unemployment rate during her first day on the job.
In an interview with 2GB host Ben Fordham this afternoon, Ms McKay said she has to “get across facts and figures” but insisted Labor was “not just a party that is about data”.
“I should have known that (net debt) … it was $8 billion negative net debt for this year, but I did know that over the forwards it was $39 billion for 2022-23 which is an extraordinary historic amount of debt,” she said.
“But you’re right — I have to get across facts and figures but I also want to make sure that we’re not just a party that is about data. We’re a party that understands the impact of those figures.
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“We know what it’s like to be unemployed, we know what underemployment means for people across this state and we know what is means when we’ve got $39 billion in net debt and 2500 staff public servants that are going to be sacked.
“These figures mean something to people so yes I need to get across the data but I also have to understand how it impacts people on a daily basis and that I do know.”
Ms McKay yesterday made homelessness her top priority after defeating rival Kogarah MP Chris Minns in a leadership ballot over the weekend in which she secured 60.5 per cent of the overall vote.
But despite having over three months to prepare herself for the demands of the top job, Ms McKay stumbled several times when put on the spot yesterday.
Asked what the state’s net debt position is, Ms McKay said it was “about $800 million”, which is $9.6 billion off the mark.
Net debt is in fact negative $8.8 billion at June 2019, according to NSW budget papers released less than two weeks ago, meaning the state is in a positive position.
However, net debt is forecast to rise to $12.3 billion in 2019-20 and to $38.6 billion in 2022-23.
“The issue is for me how they’re going to address that because I think it’s just more sell-offs … the revenue disappears and you end up with a situation where you’re losing really valuable revenue-generating assets,” Ms McKay said.
Asked what she made of NSW’s unemployment rate, Ms McKay said: “They (the government) boast about that — it’s about 3.2 per cent I think at the moment — but the issue for us is underemployment.”
Australian Bureau of Statistics figures show the unemployment rate in NSW remained steady at 4.6 per cent last month. It has also never been as low as 3.2 per cent — the lowest figure on record is 3.9 per cent in January this year.
Asked how much revenue NSW will receive in GST revenue this year, Ms McKay said: “I can’t tell you.” Budget figures show NSW will receive $18.7 billion in GST revenue in 2019-20 compared to $17.8 billion in 2018-19.
And while Ms McKay said the Berejiklian government was “raking in about $7 billion in stamp duty” — which is correct — she inaccurately claimed stamp duty revenue has “increased significantly over the last couple of years”. Budget figures show $10 billion has been wiped off the forecast since the 2017-18 Budget.
MCKAY RESHUFFLES SHADOW CABINET
NSW Labor leader Jodi McKay has revealed a major shake-up to her shadow cabinet, promoting opposition health spokesman Walt Secord to treasury and moving Ryan Park, who was previously in that role, into health.
Ms McKay said Mr Secord, who will assume the title of Shadow Treasurer, “has experience as a chief of staff to a Premier and a chief of staff to a Treasurer”. He will retain the arts portfolio.
She said Mr Park, the MP for Keira, was suited to health because he “has experience of working in the education and transport sectors”.
“Given his heartfelt budget reply speech in which he spoke of his personal interest in homelessness Mr Park has also been given responsibility for Housing and Homelessness,” she added.
“He also takes on the additional role of Manager of Opposition Business to add to his position of Shadow Minister for the Illawarra and the South Coast.”
“The roles of Deputy Leader in the Legislative Assembly and Opposition Leader and Deputy Leader in the NSW Legislative Council will be decided tomorrow.”
The full shadow cabinet reshuffle will be announced later this week.
ALP TAX CUTS ‘A SHAMBLES’ SAYS TREASURER
Treasurer Josh Frydenberg has described Labor’s opposition to tax cuts as “a shambles’’ and accused the party of “blocking the tax cuts Australians voted for”.
Mr Frydenberg’s assault came after Senator Katy Gallagher said the economy might not be able to withstand the Coalition’s full $158 billion personal tax cut package and refused to rule out voting against the package in the upper house.
“We don’t know what will be happening … the situation has already changed from the election in terms of the economic outlook,” Ms Gallagher said on Sky News.
Mr Frydenberg told The Daily Telegraph Ms Gallagher’s comments showed “Labor are a shambles”.
“They are making it up as they go along,” he said.
“First they lost the election on the back of promising higher taxes then they promised to repent for their sins and end their class warfare rhetoric.
“It didn’t take long to learn that nothing has changed, Labor continues to oppose our full tax package.
“Every day they have a new excuse for not heeding the message from the last election and passing the tax cuts Australians voted for.”
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