Posted on 02. Jun, 2010 in Victoria

Ted Baillieu and Kim Wells’ prediction that Victoria will have a recession this financial year is officially wrong as proven by the Australian Bureau of Statistics today which reported Victoria had the best economic growth of any Australian state.

Treasurer John Lenders said Victoria had recorded economic growth (State Final Demand) of 6.4 per cent over the past year making the Opposition’s campaign that the State was headed for economic disaster not just dangerous for jobs, but totally wrong.

The result is clearly better than the Australian average of 4.4 per cent increase.
“As a result of the Brumby Labor Government’s strong economic management, Victoria is now leading the worldwide recovery from the global financial crisis,” Mr Lenders said.

“We have the best economic growth rate in the country and Victoria is the economic engine room of the nation.”

Mr Lenders said the positive economic growth throughout this financial year was yet another very embarrassing example of why Ted Baillieu and Kim Wells cannot be trusted with the State’s finances after trying to talk Victoria into a recession and put jobs at risk.
“I am not sure where John Lenders is getting his facts, where it appears the rest of the world is in recession, except for Victoria. His comments don’t make any sense….one would say a recession is inevitable,” – Kim Wells, Liberal Party Spokesperson, 24 April 20095 May 2009

“It’s now clear that Labor will not protect jobs as the recession takes hold, even as the Premier and Treasurer continue to deny that Victoria is suffering from recession.” – Kim Wells, Liberal Party Spokesperson,

“It is highly possible that
Victoria could be looking at negative growth of over 1 per cent next financial year, or a turnaround of minus 1.5 per cent.” – Kim Wells, Liberal Party Spokesperson, 9 June 2009

“When the Global Financial Crisis hit and political leaders around the world focussed on saving jobs Ted Baillieu and Kim Wells started rubbing their hands in glee instead,” Mr Lenders said.
“Ted Baillieu and Kim Wells tried to talk up panic in the Victorian economy and tried to talk the State into recession, but today we have conclusive evidence that their campaign failed dismally.

“Leaders around the world did the hard policy work to fight off the Global Financial Crisis but Ted Baillieu and Kim Wells just ran around like Henny Penny falsely trying to stir up panic that a recession was coming.

“Even worse they failed to come up with even one policy to protect Victorian jobs.
“Today’s good economic news shows why Victorian families could never trust Mr Baillieu or Mr Wells with Victoria’s economy, Victoria’s jobs and Victoria’s budget.”

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