Labor denies and now admits recession

Today in Parliament Question Time, Labor Treasurer Tim Pallas admitted that “if we are not in recession yet, we will be.”

Yesterday’s National Accounts figures revealed that the Andrews Government has driven Victoria into recession, after two consecutive quarters of negative growth between October 2019 and March 2020, that’s pre-COVID – the only state in the nation with this dubious honour.

Victoria is the only state in the country to sink into recession, proving Victoria’s economy was on the slide well before the financial fallout from COVID-19 and the bushfires.

There are times you want your state to be number one, being the first state to get into recession is not one of those times.

Comments attributable to Shadow Treasurer, Louise Staley:

“The Treasurer must call it for what it is, and admit that Victoria was already in recession at the end of March.

“If Tim Pallas doesn’t understand that we are in recession he should go and speak to 127,000 Victorians who lost their jobs last month.”

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