Media Release.
12 August, 2013
If Tony Abbott and Campbell Newman want to suggest the LNP is
good for jobs, the true facts tell a distinctly different story says
Queensland Shadow Treasurer, Curtis Pitt.
“Since the LNP took power in Queensland the net number of full-time jobs in the state has dropped by 4,700,” said Mr Pitt.
“In the same period, 68,800 full time jobs have been created elsewhere in Australia, yet today we have seen both Mr Abbott and Mr Newman claiming the LNP has been good for the state’s economy,” he said.
“In the first full financial year of the LNP Government, Queensland jobs growth slumped to its weakest level in more than two decades."
“By any measure, the Newman Government’s model for the economy and for jobs has been nothing short of a disaster, but now we see Mr Abbott denying there has been any such thing."
“So let’s look at the facts. There are now 12,100 more Queenslanders in the unemployment queue than when the LNP began to “fix” the economy it inherited from Labor."
“Seasonally adjusted unemployment has increased from 5.5% to 5.9% on Mr Newman’s watch while the trend rate has risen from 5.5% to 6.1%.”
Mr Pitt wondered how Mr Newman could be proud of slowing growth from 4% under Labor to 3% while investment in housing fell into recession during 2012/13 and the state’s unemployment rate became the highest in mainland Australia during June.
“The latest Reserve Bank of Australia Monetary Statement showed that in the March quarter the pace of wage growth fell sharply, consistent with the higher unemployment rate in the state."
“The Newman Government’s own predictions are for business investment to contract in each of the next three years. Economic growth is not projected to return to the level under the previous Labor Government for another two years,” he said.
“And the 2013/14 Budget papers state the unemployment rate will remain at 6% on average for the next two years."
“Australians can’t afford to suffer under Mr Abbott what Queenslanders have suffered under Mr Newman.”
“Since the LNP took power in Queensland the net number of full-time jobs in the state has dropped by 4,700,” said Mr Pitt.
“In the same period, 68,800 full time jobs have been created elsewhere in Australia, yet today we have seen both Mr Abbott and Mr Newman claiming the LNP has been good for the state’s economy,” he said.
“In the first full financial year of the LNP Government, Queensland jobs growth slumped to its weakest level in more than two decades."
“By any measure, the Newman Government’s model for the economy and for jobs has been nothing short of a disaster, but now we see Mr Abbott denying there has been any such thing."
“So let’s look at the facts. There are now 12,100 more Queenslanders in the unemployment queue than when the LNP began to “fix” the economy it inherited from Labor."
“Seasonally adjusted unemployment has increased from 5.5% to 5.9% on Mr Newman’s watch while the trend rate has risen from 5.5% to 6.1%.”
Mr Pitt wondered how Mr Newman could be proud of slowing growth from 4% under Labor to 3% while investment in housing fell into recession during 2012/13 and the state’s unemployment rate became the highest in mainland Australia during June.
“The latest Reserve Bank of Australia Monetary Statement showed that in the March quarter the pace of wage growth fell sharply, consistent with the higher unemployment rate in the state."
“The Newman Government’s own predictions are for business investment to contract in each of the next three years. Economic growth is not projected to return to the level under the previous Labor Government for another two years,” he said.
“And the 2013/14 Budget papers state the unemployment rate will remain at 6% on average for the next two years."
“Australians can’t afford to suffer under Mr Abbott what Queenslanders have suffered under Mr Newman.”
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