Vic can 'bounce out' of financial slowdown: Treasurer
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John Lenders said maintaining consumer confidence is crucial. (ABC TV)
The Victorian Treasurer, John Lenders has said the state has the ability to "bounce out" of the current global financial slowdown.
Mr Lenders told a business breakfast in Melbourne, the state's regulatory framework is sound and the economy is still strong.
But he has warned that a drop in consumer confidence based on fear, could hurt the economy.
"We have a strong foundation, we have very high levels of employment, and the confidence levels of our community are critical to us," he said.
"We keep confidence and we will come go through this, and go through it strongly. If we start to lose confidence, and it starts effecting people jobs."
He said maintaining consumer confidence is crucial.
"The challenge for us though, we know that we have a shortage, there is a tightening of credit, but the confidence factor that we must take forward as leaders from there, is of critical importance to the state," he said.
