Media Release

Peter Gutwein MP
Shadow Treasurer

Thursday 26th May, 2011

Private investment drops

In yet more bad news for private investment in Tasmania, data released by the ABS today shows a 33% fall in trend new private capital expenditure in just two years.

This represents a massive $446 million fall, from $1352 million in the 12 months to March 2009, down to $906m in the 12 months to March 2011.

And if there is any doubt that this Green-Labor Government is having a negative effect on the economy, expenditure fell $83m from the 12 months to March 2010 compared to the same period to March 2011.

Tasmania had the poorest 12 months to March in new private capital expenditure since 2004.

Clearly the uncertainty that this unstable Green-Labor Government has created is now coming to bear fruit for the Tasmanian economy.

And all that the Premier, Lara Giddings, can do is continue to hold the axe over 2300 teachers, police and nurses.