Posted on 07. Dec, 2011 in News

Victoria’s economy is going backwards following the Baillieu Government’s inaction to drive growth and jobs, new figures released today reveal.

The ABS Australian National Accounts: National Income, Expenditure and Product statistics show Victoria is just one of two states to record negative state final demand for the September quarter.

While Australia’s GDP rose 1 per cent, Victoria recorded negative growth, with State Final Demand falling by 0.1 per cent.

The data shows a staggering fall in Government infrastructure investment, dropping 17.5 per cent over the quarter.

Shadow Treasurer Tim Holding said the state was going backwards under Ted Baillieu.

“This data is further evidence of the paralysis creeping through the Victorian economy,” Mr Holding said.

“Through its inaction, the dithering do-nothing Baillieu Government is letting investment and jobs slip to other states.

“The Baillieu Government has failed to invest in infrastructure and still has no plan to grow jobs.

“An economy going backwards will mean less jobs across the state.

“It will be Victorian families who will be hurt by the Baillieu Government’s failure to grow the economy.”

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