Shadow Treasurer Curtis Pitt says today’s release of Australian Bureau of Statistics National Accounts figures is further evidence the LNP Government is harming the Queensland economy.
“The data shows the slowing of the Queensland economy is a direct result of the LNP Government’s cuts to services and mass sacking of Government workers,” Mr Pitt said.
“The ABS figures also show the LNP Government ripping investment out of infrastructure programs has been a contributor to the slowing of the economy in Queensland.
“Queensland’s economy as measured by State final demand had nil growth in the December quarter, this followed a contraction in growth in September Quarter of 0.8%.
“The slowing of the Queensland economy has happened under the Newman Government and it is about time they start taking responsibility for their actions,” he said.
Mr Pitt said Mid-Year Fiscal and Economic Review revisions released prior to recent disasters also projected the economy to slow under a Newman LNP government.
“MYFER revisions projected growth to fall from 4% last financial year down to 3.75% this financial year and to fall again to 3.5% next financial year,” he said.
“The Treasurer and the rest of the LNP’s leadership team have spent their first eleven months in office cutting 14,000 jobs, savaging frontline services, and constantly talking down the state’s finances and economy.
“They are now reaping what they have sown and have nobody to blame but themselves.
“Today’s figures are further evidence the deteriorating economic growth is a direct result of the LNP’s slash and burn policies.
“The slowing of the economy will also have dramatic flow-on effects in regional Queensland, where employment opportunities are reduced and the freeze on capital works is magnified in local economies.”