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Economic gulf widens between Northern and Southern Australia One Nation - two economies



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P er Cent

T im Fischer mr Federal Member for Farrer ^

Leader of the National Party of Australia

Shadow Minister for Energy and Resources

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ECONOMIC GULF WIDENS BETWF.F.N NORTHERN AND SOUTHERN AUSTRALIA

ONE NATION - TWO ECONOMIES

Unemployment figures since the beginning of 1992 for the southern states of Victoria, South Australia, Western Australia and Tasmania versus the two northern states of New South Wales and Queensland graphically illustrate the widening gap between the southern economies and those of the north.

The 'QNSW economies' are drawing away from the 'WASAVICTAS economies' in a dangerous way which is likely to lead to a greater population drift, especially from Victoria.

Federal Leader of the National Party, Tim Fischer said today that the deepening and widening gulf between north and south related primarily to urban and industrialised areas and that rural Australia remains almost universally in recession bordering on depression.

"The figures indicate that in the north the unemployment rate is considerably lower per thousand than in the southern states. However in Northern WA, the economy is underpinned by resource development projects whilst the Northern Territory with its key links with Asia is well placed but feeling the brunt of high taxes and fuel costs.

"Despite this, the southern states are bleeding badly and this is dragging down the overall Australian economy. The sooner Payroll Tax is abolished the better.

"There also appears to have been a major community adjustment to the on-going recession with greatly increased retention rates in schools. The unfortunate aspect of this is that the young are continuing their dependency on their families for support, creating major personal pressures. In Victoria the youth

unemployment rate is nearly 45%.

Mr Fischer said the following graph illustrates the widening gulf between the economies of Northern and Southern Australia:-

THE RAW GAP. NORTH VERSUS THE SOUTH

SEASONALLY ADJUSTED UNEMPLOYMENT RATES

14 -i

12 -

NSW/QLD (Northern)

V1C/SA/WA/TAS (Southern)

1 0 -

8 -

6

MAR92