Finance Minister Mathias Cormann believes the WA economy will economically bounce back from COVID-19 pandemic for seven key reasons.
- WA is experienced in riding out the highs and lows, whether it be a downturn in the property market or a surge for iron ore.
- Our experienced business owners know how to ride out a storm and have positively embraced the working from home arrangement.
- Our proactive government, who have prioritised: saving lives by slowing the spread and cracking down on social distancing, protecting jobs by helping keep as many businesses open for this period and providing a safety net to help those financially who have lost their job to the pandemic.
- The agricultural and resources sectors have both continued to perform strongly.
- The post COVID-19 business growth strategy is expected to offer serious deregulation efforts and lower tax rates to help business start invest, hire and grow.
- The ambitious State infrastructure investment program will continue to roll out in hopes to boost growth.
- WA may be reinstated as a regional city of immigration which will allow international students back to our state. International education is one of our top export earners.
Although the pandemic brings uneasiness and fear Mr Cormann commented, “We have what it takes as a community and the best days for our State and our people are ahead of us.”
This is a brief summary of the article ‘WA in best position to bounce back economically after COVID-19 pandemic’ by Mathias Cormann | The West Australian | Sunday 19th April.