Original article by Geoff Chambers
The Australian – Page: 1 & 4 : 18-Dec-24

Data from the Australian Securities & Investments Commission undermines the federal government’s economic credentials. The figures show that 12,405 businesses were declared insolvent in the first 11 months of 2024. This includes a record 1,442 business failures in November, which is 62 per cent higher year-on-year. Nearly 26,000 businesses have collapsed since Labor won the May 2022 federal election; Deputy Opposition Leader Sussan Ley notes that this is approximately the same as the number of additional public servants Labor has hired since it took office. Separate data shows that the number of welfare recipients has risen by about 83,000 year-on-year.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA