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Wayne Swan lacks economic credibility: again!



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Sun, 7th September 2008

WAYNE SWAN LACKS ECONOMIC CREDIBILITY - AGAIN!

The Hon Peter Dutton MP Shadow Minister for Finance, Competition Policy and Deregulation

In Wayne Swan's most embarrassing moment to date as Treasurer, he suggested on national television this morning that the Labor Party’s trashing of the NSW economy was due to a rise in interest rates, not poor economic management, said Peter Dutton, Shadow Minister for Finance, Competition Policy and Deregulation, earlier today.

“Mr Swan should know that when interest rates move up or down, it happens in all states of Australia, not just NSW.

“No other State is on the brink of collapse, and interest rates are the same in Adelaide as they are in Sydney.

“He lacks any economic credibility when he suggests that Labor’s trashing of the economy is because of interest rate rises.

“The NSW economy is on the brink because Labor has spent on recurrent expenditure, particularly on wages to keep unions happy, and introduced a property tax which killed the property sector.

“His performance was an embarrassment and a continued propaganda push by Australia's worst ever Treasurer.

“Wayne Swan is the Treasurer of one of the most developed economies in the World and it's time he started acting like it.”