Government welcomes surge in SA consumer and business confidence

28 Feb 2020
Government welcomes surge in SA consumer and business confidence

South Australia has recorded a surge in consumer and business confidence, according to the latest BankSA State Monitor.

The independent survey of 600 consumers and local businesses, released this morning, shows SA business confidence is now at its highest level in 12 months - with reported new jobs created over the past three months at near decade-high levels.

Consumer confidence has also returned to positive territory, with South Australians more optimistic about the state’s future, their own household position and buoyed by the Government’s record $12.9 billion infrastructure pipeline that will create hundreds of local jobs.

Premier Steven Marshall welcomed the latest results as a ‘step in the right direction’ and a clear endorsement of the Government’s commitment to positive economic and jobs growth as well as lowering the cost of living for hard-working households, families and local industry.

“We are pleased to see growing confidence among South Australian consumers and businesses and the strong jobs growth recorded by those businesses surveyed, which I’m advised is at its highest level since May 2010,” said Premier Marshall.

“Creating more local jobs is a key priority for my Government, which is why we are investing in a record $12.9 billion infrastructure program, as well as delivering significant tax cuts for households and businesses to make SA far more competitive.

“We’ve abolished payroll taxes for all small businesses, massively reduced ESL bills by $90 million a year, while South Australian motorists have saved $80 million in the past eight months alone on their car registration thanks to lower CTP insurance premiums.

“The $90 billion defence ship building program presents enormous job opportunities, as well as our emerging space and cyber industries in our innovation precinct at Lot Fourteen.”

Pride in South Australia was also strong, with businesses recording a 20 per cent jump in state pride – the biggest increase reported since the survey began in 1997.


Click to download release