This morning Mr Abbott labelled the Australian economy as underperforming:
JOURNALIST: The IMF figures today, have you had a chance to look at those? Wayne Swan says it shows were on track to return to surplus.
ABBOTT: Well interestingly the IMF has actually downgraded its growth forecast for the Australian economy. A year ago it forecast growth in the coming year at 3.5 per cent, its now downgraded that to 3 per cent. It forecast growth of3 per cent for the current financial year and it looks like were going to get 2 per cent. So this is an underperforming economy, and it's underperforming because of the poor economic management of the current government.
[PRESS CONFERENCE 18 APRIL 2012]
In fact, the IMF has confirmed Australias economic growth is expected to outpace all major advanced economies over the next two years.The IMF has forecast that the Australian economy will grow 3 per cent in 2012 and 3.5 per cent in 2013, in line with its previous updates earlier this year. These forecasts are broadly consistent with the outlook in MYEFO which has the budget returning to surplus in 2012-13.
Australians deserve better than Tony Abbott and the Opposition trash talking the economy.
Talking the economy down at a time of global uncertainty is economically reckless.
Furthermore, his claim that the Australian economy is underperforming is quite simply wrong.
Australia has low unemployment and strong public finances; our net debt is forecast to peak at less than one-tenth of other major advanced economies.
The Gillard Government will deliver a budget surplus in 2012-13 because it is appropriate for an economy returning to trend growth and our best defence during a time of global uncertainty.
Importantly, a surplus will give the Reserve Bank the flexibility to cut interest rates should it see fit.
Mr Abbott only wants to wreck the surplus, without offering Australians any alternative.
