With the Australian dollar having fallen overnight to below 93 US cents – its lowest level in nearly three years – the federal leader of the Palmer United Party Clive Palmer today said that international investors are bailing out of Australia.
Mr Palmer said the international investment community was responding to the prospects of Australia being led by a future Tony Abbott led government.
“As the election gets closer and with a coalition government looking more likely, international investors are deserting Australia,” Mr Palmer said.
“Fears in international markets about investing in this country are seeing our Australian dollar falling significantly.
“Mr Abbott has said he will cut $75 billion from the federal budget. Such a cut would put the dollar into a further downward spiral and make a return of international investment into this country impossible.
“Australia needs more investment, not less.
“Australia needs more job creation and a growing economy – not a diminishing one.
“This is a wakeup call for Australians to vote for a party offering plans for a growing economy rather than one currently spiralling downwards.”