STRONG REPORT CARD FOR VICTORIAN JOBS AND ECONOMY

STRONG REPORT CARD FOR VICTORIAN JOBS AND ECONOMY

Posted on 01. Sep, 2010 in Election Media Release, Victoria

Victoria’s economy has received a strong report card from the Australian Bureau of Statistics today showing State Final Demand growing by a very healthy 6 per cent over the past year – the best of Australia’s non-resource states.

Treasurer John Lenders said the Brumby Labor Government had embarked on successful stimulus investments and an economic confidence campaign to boost Victorian jobs and the economy which was reflected in the results released today.

“The Brumby Labor Government’s strong leadership is keeping our economy heading in the right direction and Victoria is generating more jobs than any other state,” Mr Lenders said.

“While other economies around the world are stuck in recession, we did the hard work to cut taxes, invest record amounts in job-creating infrastructure and campaigned hard to keep our economy confident so we could keep creating jobs for Victorian families.

“Victoria is the best place to live, work and raise a family with a healthy economy and a bright, prosperous future.”

Mr Lenders said that Victoria was the economic engine room of the nation with:

  • Retail trade growing at 6.5 per cent over the year – the best in the nation;
  • Building approvals growing at 10 per cent over the year – the best in the nation; and
  • 98,300 jobs being created over the past year – the best in the nation.

 

He said the good economic news was backed up by a report from Citigroup released yesterday which found this financial year Victoria would have:

  • The highest economic growth rate of the non-resource states;
  • The strongest budget of any Australian state; and
  • The lowest debt ratio of any Australian state.

A full copy of the report is available at https://www.citigroupgeo.com/pdf/SAU09654.pdf

Mr Lenders said that unlike other methodologies used to compare the states’ economic performance the Citigroup State of the States report was consistent with the latest economic indicators published by the Australian Bureau of Statistics.

Mr Lenders said the results were a further embarrassment for the Opposition who kept praying for the worst of the Global Financial Crisis to cross the Victorian border.

“Victoria’s economic successes did not happen by chance – they happened by choice.  Now is not the time to risk Mr Baillieu who is too weak to make the tough decisions needed to keep our economy strong,” Mr Lenders said.

“The biggest threat to Victorian jobs is Ted Baillieu who is too weak to take tough decisions and Kim Wells who is too inept to manage our multi-billion dollar budget.”

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