The Hon Chris Bowen MP - Federal Member for McMahon
What's Happening Posted September 02, 2015.
Today’s National Accounts are a worrying sign that the economy is beginning to suffer because Australia has a lame duck Treasurer.
The June quarter figure of 0.2 per cent is disappointing on the back of soft dwelling and other business investment, a poor export performance, weakened household consumption growth, and an unusually high contribution from the government sector.
Annual GDP growth – now at 2 per cent – has been trending down for the last five quarters while living standards have fallen over the last five quarters.
Australians are suffering through the highest unemployment level in 13 years. Growth has flat-lined since the Abbott Government’s first damaging Budget last year and cost of...Read complete article »