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National Accounts Cast Doubt on Key Budget Assumptions

Nick Mckim

Nick Mckim  -  Wednesday, 3 June 2015

Tags: State Budget, Economy, Treasury

Nick McKim MP | Greens Treasury Spokesperson

The National Accounts figures released today show Tasmania's economy stagnating, and cast doubt on key assumptions in Treasurer Peter Gutwein's state budget.

Despite Mr Gutwein forecasting growth of 2.75% per annum on his budget, in the March quarter Tasmania's State Final Demand grew by just .3% in trend terms.

This is a growth rate of less than half of that predicted by Mr Gutwein's budget.

These figures should be a massive wake up call for Mr Gutwein, who has staked his reputation as Treasurer on improving the economy.

Sadly for Tasmanians who are out of work, on today's figures he is heading for an epic fail.