Media Release

Peter Gutwein MP
Shadow Treasurer

Thursday 8th December, 2011

Recession is fact not a ‘rounding error’

The ABS statistics clearly explain that the Tasmanian economy has shrunk for three consecutive quarters on a trend basis, while the national economy is growing. This is not a “rounding error”, this is a fact, and it is borne out by yesterday’s ABS statistics.

It is accepted in economic circles that recessions are defined as two successive quarters of negative growth (or 6 months).

Tasmania has now had three consecutive quarters of negative growth (9 months). This should be a major wake up call for this Premier and her failing government.

The Green-Labor experiment is failing and the Tasmanian economy is paying the price while Ms Giddings keeps her head firmly in the sand.

Only the Liberals will put back up ‘the open for business’ sign and ensure Tasmania can stand on its own two feet.

The Liberals will grow the forestry industry, invest in frontline services and put downward pressure on the cost of doing business.

The Liberals will make sure that Tasmania is well and truly open for business.