p a
PRIME MINISTER
Embarzoed until 6. O0am. 1 January 1997
THE YEAR AHEAD
Australians have every reason to look forward to 1997 with hope and
confidence.
The ftundamentals of our economy are strong. Very low inflation, lower
interest rates, more flexible labour market conditions and substantial
progress in cutting the budget deficit, a bode well for strong business
investment and greater consumer confidence.
Relatively strong growth in the major economies of the world will be
positive for the Australian economy in 1997.
From today, new tax benefits worth $ 1 billion will be delivered to low and
middle-income Australian families with children. These benefits Will
enhance the child care choices of parents and give particular assistance to
one income families thus addressig some of the current bias in the tax
system against such families.
Although much has been achieved in recent months the task of economic
reform is far from finished.
Supply side impediments to a more competitive economy, in areas such as
the waterfront, must be addressed.
More steps must be taken to lift the burden of red tape from small
businesses which, now freed of the stultifying effects of the old unfair
dismissal rules and antiquated industrial relations laws, still offer the best
hope of progress on the jobs front.
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4 N
ow that the saleoffo ne-thirdoffT estra has been authorised byP
arliament, 1997 will see reality giventoo the Natural Heritage Trust ofA
ustralia. From it willbeef unded the greatest ever capitali nvestment int
the renewaloffA ustralia's environmental assets. T
his will representannh istoric programme well intothe 2 1s t centuy ofr
eclaiming Australia's environmentalh eritage for ftuture generations. T
here aremaajo r challenges aheadonnt he native title front. Inn the wake oft
he Wik decision, which altered oneofft he basic tenetsoffp revioust
thinkingo nnative title, responses are required which deliver bothp
redictability and justicetoo all concerned. T
he responsibilityoffd elivering such a balanced and fair outcome does notr
est with governments alone. A
sA ustralians approach the New Year, weea re entitledtoo doo soow ith aq
uietp ride thatweel iveinna nation whichissu nsurpassed whenittc omes tof
freedom, stability and tolerance. W
e still have many blemishes. Someoffo ur fellow Australians remainp
rofoundly underprivileged livinginn orra ttheedgeoffp overty. Theyc
continuetoo need our compassion and help. I
fweec an keep that balance prideinn whatweeh avea chieved yetd
eterminedtoo address our shortcomings, 1997 willbeea very good year forA
ustralia. M
y wife and childrenjoinmee inn wishing all Australiansa v ery happy NewY
ear. 3
31 December 19962 2733