Latest figures from Government which show that the economy contracted by 2.8 percent in 2011, reveal “the hypocrisy of government spin,” and demonstrate that Government has failed the people, the One Bermuda Alliance says.In a statement issued yesterday, OBA candidate Sylvan Richards noted that the report from the Department of Statistics debunks the ruling party’s framing of the election.But the ruling party dismissed the Opposition’s criticism, saying that it was contradicting itself.“Despite what Government has been claiming as their approach, the GDP report by the Department of Statistics clearly reveals that Governments “austerity measures” contributed to the contraction of the Island’s economy and cost people jobs,” Mr Richards said.“It states: ‘Public administration recorded a two percent drop in economic activity, as austerity measures aimed at cutting overhead expenses were implemented.’“It is now apparent that due to five years of deficits and undisciplined spending, the Government has been forced to implement austerity cuts, and we have seen the fallout in terms of teacher and school layoffs and cutbacks that weakened the ability of charities and community groups to help people in need.“This, ironically, is the same Government that has been trying to portray the One Bermuda Alliance as the party of austerity. The choice in the coming election, it says, is between growth (them) and austerity (us).“But this is a complete nonsense in light of the facts, as outlined in Friday’s report on Bermuda’s Gross Domestic product.“The choice in this election, therefore, is not growth versus austerity as the Government would have you believe. The choice is between further recession and contraction under this Government, or responsible growth and disciplined, prudent financial management under an OBA government. That’s the choice.”Data released on Friday showed that 2011 was the third successive year of recession, as GDP fell to $5.6 billion, a decline of 3.5 percent from 2010. After adjustment for inflation, the GDP shrank 2.8 percent.Shadow Finance Minister Bob Richards predicted that 2012 will turn out to be another straight year of recession.“This poor record stands in contrast to our major trading partners and our neighbours to the south whose economies have emerged from recession with positive growth,” said Mr Richards.“And it points to home-grown reasons for Bermuda’s protracted and stubborn recession.“These include policies that alienated international businesses, tourism marketing failures, undisciplined spending and skyrocketing debt that hobbled Government’s ability to stimulate economic growth and ease recessionary pressures on people.”He added that the OBA will take a “balanced approach in which we implement responsible policies to grow and protect Bermudian jobs while exercising prudent and disciplined financial management.“We will govern to protect and grow the short- and long-term interests of Bermudians, making sure we have the resources in place to take advantage of economic opportunities and weather the storms that inevitably come our way.”Mr Richards said that Government had failed to prepare for the lean years when the economy was strong.“If the Government had been looking out for the interests of the Bermudian people, it would have made sure the public purse was strong enough to help people in tough economic times.”Instead “we saw years of waste, excess and arrogance bleed the public purse and drive us into debt.”He said: “A government’s first priority is to ensure the safety and security of its people. In this, the Government has failed the people.”A statement issued by the Progressive Labour Party last night insisted that it was the party of principle while the OBA’s policies were driven by consultants and polls.“After the OBA said the PLP was, ‘paying lip service to Austerity’ the OBA are now changing their tune. After saying, ‘it has to be all about austerity’ the OBA now are singing a brand new song,” a spokesperson said.“The OBA will change their position daily depending on what their consultants and pollsters say. They will say whatever they think voters want to hear even when it doesn’t add up.“Just this week they told Bermudians that they could reduce taxes, increase spending, and reduce the debt all at the same time! The problem is their plans will create $500 million of additional debt.“We’ll leave it to the Bermudian people to decide whether or not they want steady leadership governed by principle or leaders with policies that do not add up and are driven by consultants and polls.“The PLP will continue to Stand Strong for Bermudians. We will continue to protect jobs and incomes for our people; continue to improve education for our young; continue to train our people for the jobs of today and tomorrow; continue to empower our entrepreneurs; and continue to provide pension and healthcare security for our seniors.”He added: “The choice in this election is between the OBA that will contradict themselves and say anything in the hope of being elected, or the PLP that continues to stand strong for Bermudians despite the worst global economic crisis of our lifetime.”