What a fine job the "adults in charge" are doing.
http://www.independentaustralia.net/politics/politics-display/open-for-business-or-over-a-cliff,6240
The Abbott Government has been in power for less than six months, but rather than creating employment and business confidence, the nation appears to be in economic decline. Peter Wicks from Wixxyleaks reports.
IT SEEMS LIKE AN ETERNITY AGO, but it was only a few months back, on 7 September 2013, that Tony Abbott declared Australia was now “Open for Business” after the previous Government defeated in the Federal election.
Finally Australia was going to be put on track, because the Liberal Party understood business, and furthermore there was the promise of the creation of one million jobs and two million within a decade from the incoming Prime Minister.
So, how are we tracking on the jobs front and how is being now open for business going now that the Coalition have been in power for roughly 20% of what is likely to be their single term if the polls are to be believed?
Let’s have a look at business investment now that the sign on our door reads “open”. I’ll use figures from the Bureau Of Statistics, as reported by Fairfax, as the Bureau are an unbiased and reliable source.
As it turns out, immediately after the Coalition victory, in the final three months of 2013, business investment in Australia dropped 5.2% — the highest drop in level since the Global Financial Crisis.
The Bureau Of Statistics also reports that the estimates for the 2013-2014 financial year have been downgraded from a year ago to the tune of 17%. With a 17% plummet in business investment within a year, it is so good we not have “the adults in charge”.
