Thursday, March 19, 2009

Rudd Government refuses to take responsibility for company insolvencies

The Rudd Labor Government has refused to take any responsibility for the record insolvencies in Australia and completely ignored small business in Queensland, Senator Sue Boyce, Senator for Queensland, said today.

Figures released by the Australian Securities and Investment Commission on Tuesday show that an increase of 698 companies were placed into insolvency across Australia in the three months to January 2009 when compared to the same period last year. This was an increase of 30 per cent. The news was worse for Queensland, where insolvencies increased by 60 per cent when compared to this three month period last year.

"In Senate Question Time today, Minister Stephen Conroy, huffed and puffed and blamed everyone and everything, except his Government, for the massive number of small businesses that are going broke.

“The Rudd Government promised that the December cash splash would strengthen the economy, but the insolvency figures don't support this.

“Particularly alarming was his dismissal of the number of insolvencies in Queensland, which was double that of the Australian average.

“Senator Conroy failed to even refer to Queenslanders in his self-serving answer," Senator Boyce said.
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