Budget Update Shows Victoria On The Skids
Today’s 2011-12 Mid-Year Financial Report released by the Baillieu Government again shows why Victoria desperately needs a jobs plan, Shadow Treasurer Tim Holding said.
“While the Department of Treasury and Finance states “employment has softened over the past year”, Victorian families know the hard truth – that behind DTF’s polite language, thousands of people have lost their jobs while the Government has dithered,” Mr Holding said.
“Victoria’s financial position is deteriorating, public investment is declining, jobs are being slashed, debt is rapidly rising and Victorians have nothing to show for it.
“Government infrastructure projects and a strong property market enabled Victoria to achieve record employment growth over the period of the former Government.
“This Mid-Year Financial Report shows general government net infrastructure investment is falling.
“We face the unbelievable situation that net debt continues to skyrocket but the only projects that the Premier can point to to justify this debt are those initiated by the former Government.
“The Baillieu Government’s plan to address the State’s deteriorating financial position is to slash jobs and to raid almost $500 million from the WorkCover scheme.
“With the general government sector recording a deficit of $341 million over the six months to December 2011, does the Treasurer still stand by his commitment that he will deliver a budget surplus at the end of the financial year?
“As jobs continue to be lost and the Victorian economy continues to slow, it’s now more important than ever that Ted Baillieu releases a plan to protect jobs.”