Arch Bevis

	Australian Economy: Strong and Growing	26 July 2010

	Swift action by the Labor Government kept the Australian economy out of recession when the Global Financial Crisis (GFC) hit preventing the loss of hundreds of thousands of jobs. Due to the actions of the Government, including the recession-proofing stimulus, Australia has one of the lowest levels of government debt among similar countries. The budget will return to surplus three years earlier than forecast, with an expected surplus of $3.1 billion in 2012-13. As a result of strong economic management by the Labor Government, Australia is the only advanced economy to avoid a GFC recession. Because of Labor�s decisive action: Australia has the second lowest unemployment of the major advanced economies Australia has the lowest debt and the lowest deficit Australia has the fastest growing economy of the developed countries