Media Release

Peter Gutwein MP
Shadow Treasurer

Wednesday 12th January 2011

Housing drops by $700 million

New figures show that $700 million has been wiped off the value of housing finance commitments in the 12 months to November 2010, a drop of more than 25 per cent compared to the 12 months to November 2009.

The Tasmanian Liberals believe that a strong housing industry is one of the keys to a strong economy and more jobs. So far, the Labor-Green Government has failed this important test.

These latest concerning figures follow on from recent data that show Tasmania is heading towards a retail recession, ANZ figures revealing flat lining employment opportunities and figures showing there is a cost of living crisis, with a 40 per cent increase in the number of Tasmanians unable to pay their power bills and being disconnected as a result.

The $700 million drop in housing finance commitments also shows that the Labor-Green Government’s failure to fix our broken planning system is costing Tasmania hundreds of millions of dollars every year in developments.

It’s time Lara Giddings stopped living in la la land and realised that Tasmania’s economy is in serious trouble and that we need decisive leadership and strong action now.