Shadow Treasurer Curtis Pitt said comments from the Chamber of Commerce and Industry (CCIQ) that outlined the impact the LNP’s negative economic rhetoric was having on business confidence should serve as a wake-up call to the Premier and his Government.
“The state and federal wings of the LNP have been talking down our economy for years. It’s no wonder businesses have turned off the tap when it comes to investment,” Mr Pitt said.
“It’s up to national and international banks to fund many of the state’s biggest projects, but when the Prime Minister and Premier spend their entire time talking down the economy, its little wonder that investors are cautious.
“As the CCIQ says, ‘spooking everyone’ with talk of budget emergencies, or comparing Queensland to Spain as the Premier has done, only serves to scare off business investment.
“Tony Abbott and Campbell Newman constantly use the politics of fear to create an argument, but that only serves their own political interests.”
Mr Pitt said a positive, confident economy was crucial to attracting investment.
“When business is less confident, that means less investment, less jobs, and less economic growth.
“Here in Queensland, growth is slower than when the LNP was elected, and unemployment has skyrocketed to 6.3%. Unemployment under the LNP now is higher than it was during the GFC under Labor.
“A plunge in investment is a huge reason for that. Just two years ago business investment was 42.9%, last financial year it fell to 9.3% and its forecast to contract by 7.25% over this financial year.
“When it comes to the economy, the LNP are burying their collective heads in the sand, like the Treasurer did when there was not even a single mention in his media statement last week of the 6.3% jobless rate here in our state.
“While the LNP don’t want to talk about unemployment, the Labor Opposition will be talking about the importance of jobs to our economy.”
“Campbell Newman and Jeff Seeney thought they could continue to talk the economy down to suit their political narrative and there’d be no consequences. Now the chickens have come home to roost, the LNP has no one to blame but themselves.”