Minister Barr: More ABS figures show ACT economy is turning a
- Written by ACT Government
Released 04/06/2015
The ACT economy is leading the nation on another set of ABS figures.
Today’s Retail Trade Turnover figures show the ACT’s April growth was 0.6 percent, which puts our economy ahead of all the other states and territories. This is against a backdrop of Australia recording a nationwide figure of no growth in the same period. This good news should increase business confidence in the ACT. It demonstrates the resilience of our economy, which has had to withstand savage cuts from the Commonwealth governments.
Our unemployment remains the lowest in Australia and I have been assured by the Prime Minister that the worst is over, giving us further reasons to optimistic.
My government is committed to diversifying our economy and playing to our strengths in areas like higher education and research. Just today we passed legislation that will help the University of Canberra grow and prosper by developing our campus.
Further initiatives in our business development strategy will ensure we have a diverse economy which is less reliant on the Commonwealth.
In its past two budgets, and in the budget I handed down yesterday, the Government has boosted growth through:• Record spending on infrastructure;• Abolishing inefficient taxes and lowering payroll tax;• Support for the private sector to innovate, grow and create jobs; and• Encouraging investment into the ACT. This has provided an important stimulatory effect to our local businesses and households, and ensured confidence remained in our economy.
- Statement ends -
Section: Andrew Barr, MLA | Media Releases
