National Accounts figures show the Government’s stimulus packages are working: unions 03 June, 2009 Today’s better than expected national accounts confirm that the Federal Government’s early investment in the economy has been the correct response to the downturn, say unions. ACTU President Sharan Burrow said the GDP figures showed that the stimulus is working to support economic demand and protect the jobs and incomes of working Australians. “The year ahead will continue to be tough for working people, but the decisive measures taken by the Rudd Labor Government have been timely, well-targeted and successful. “On the evidence to hand the Government’s actions have been effective so far in protecting us from the worst of the Global Financial Crisis,” Ms Burrow said. “The Government’s action before Christmas to pump billions of dollars into consumption has had a clear impact of holding up economic growth. “We can see that in the rise in household consumption and retail trade in the March quarter in these National Accounts figures. “The Government’s second stimulus and the further investment in social and economic infrastructure announced in last month’s Federal Budget will be important to maintain and create new jobs in the coming months. “Unions welcome the boost to infrastructure and the investment in low carbon technologies and renewable energies. “Along with action on skills and training for workers, these measures will be critical to setting the nation up to recover from the downturn. “Today’s data shows the approach of the Liberals to oppose key budget and stimulus measures is wrong and would hurt working families. If the Liberals had got their way, we would now see the economy deeply in recession, with thousands of additional workers without a job.” Ms Burrow said the National Accounts figures show company profits are still healthy despite the downturn, and there is room for employers to do more to hold onto existing workers and avoid redundancies. “It is also critical to maintain the real wages of workers so that we continue to stabilise the economy by stimulating demand. “Today’s figures show that employers and the economy can afford to give low paid workers the $21 a week pay rise unions are seeking to the minimum wage,” Ms Burrow said. “This is a matter of justice and equality, but also essential to ensure consumer spending by working families continues to support demand.”   Contact Details Mark Phillips Ph: 0422 009 011