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Not quite a record, but bad enough.



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M EDIA R ELEASE

The Hon Simon Crean MP

Deputy Leader of the Opposition and Shadow Treasurer

 

29 September 1999

NOT QUITE A RECORD, BUT BAD ENOUGH

Today’s trade figures show that Australia’s August deficit worsened by 45 per cent to $1.326 billion - th e 6th worst on record.

In 7 out of the last 8 months, Australia has run a trade deficit of more than $1 billion.  In trend terms, the trade deficit has been greater than $1 billion for 10 months straight, said Mr Crean.

The deterioration in our trade balance is not a ‘one-off’.  It has been worsening for nearly 12 months now.

Month after month, record deficit after record deficit, the Treasurer’s excuse has been that bad figures are “within expectations”.  His only solution has been to try to condition us to billion dollar plus deficits.

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His continual claims of success when his predictions of failure materialise have become a farce.

It’s time Mr Costello took his eye off the Prime Minister’s job and concentrated on doing his own.

Further information:  Phillip Tardif   (02) 6277 4045(w),  (0419) 497 103

 

 

jy  1999-10-05  15:01