Tuesday, 12 March 2013

Stephen Koukoulas on the subject of Tony Abbott as an economic forecaster

From Market Economics 9 March 2013:
In his Budget reply speech in May last year, Mr Abbott made the following claim:

§  “Madam Deputy Speaker, from an economic perspective, the worst aspect of this year’s budget is that there is no plan for economic growth; nothing whatsoever to promote investment or employment.”

Since that speech was delivered, this has what has happened to growth, investment and jobs:
§  The economy (real GDP) has grown by 1.9% in the three quarters to December 2012. This is an annualised increase of 2.5%.

§  Private sector business investment has risen by 2.5% in the three quarters to December 2012 to be a thumping 70.0% higher than the  level of investment when the Coalition was last in office. The capital expenditure expectations data were, according to Westpac, “robust” with investment likely to rise a stunning 11% in 2013-14 to fresh record highs.

§  Since June 2012, 53,400 jobs have been created, 30,000 of these full-time positions.


Anonymous said...

Once again Mr Abbott proven wrong on matters of economic policy and workings. Strange that these musings of his and the facts do not get a run in the mainstream media for the public to digest

Seabee said...

Nothing from the government to refute Abbott's claims, as usual.

I can't believe how bad this government is at communicating with the electorate. Surely one of their biggest failings.