The latest Commsec and Deloitte reports come as another blow to the Newman Government’s economic track record, Shadow Treasurer Curtis Pitt said today.

“The Premier and his Treasurer Tim Nicholls must explain why the economy today is worse than the one they inherited from Labor just over two years ago,” Mr Pitt said.

“Campbell Newman and Tim Nicholls arrogantly say Queenslanders don’t understand the job they are doing. I’d say Queenslanders know only too well what the LNP is up to, and they don’t like what they’re seeing.

“After the multi-million dollar advertising campaign, I doubt it’s the delivery of the message that’s the problem, it’s what the LNP is doing that is the problem.”

Mr Pitt said the latest Commsec report highlighted weakened economic growth in Queensland compared to when Labor was in office.

“Unemployment is higher under the Newman Government with Queensland’s ‘6.3 per cent jobless rate almost 22 per cent above its decade-average level’ according to the report,” he said.

“According to the Comsec report, Queensland is only the fourth strongest economy behind WA, NT, and NSW.

“At the March 2012 election Queensland’s unemployment rate was 5.5% and Campbell Newman’s target of 4% unemployment is lying in tatters.

“Tim Nicholls arrogantly dismisses his promised 4% rate as ‘a stretch target’ and at last week’s Budget estimates hearings both the Premier and Treasurer did not even know, or refused to admit, how many jobs had gone from the public service and government-owned corporations.

“Campbell Newman also refused to tell the Budget Estimates Committee how many more jobs needed to be created to meet his own employment target, and now we know why.

“The Deloitte report confirms that LNG exports and investment that the former Labor Government put in place are propping up the State’s growth and once again point to the LNP’s cuts as a major reason for slower growth under the Newman Government.

“For all the bluff and bluster by Campbell Newman and Tim Nicholls, the facts don’t lie: Queensland’s economy was stronger under Labor than the LNP.

“While we hope Deloitte’s outlook for the economy is correct, it will be growth despite the Newman Government not because of it,” Mr Pitt said.