Subjects: Governor of Reserve Bank, interest rates, economy, jobs
growth, junior wage rates, Bob Woods, Xing Ping - discussions with
Senator Harradine
E&OE................................................................................................
JOURNALIST:
Pleasing sounds coming from Ian McFarlane in Melbourne this morning.
PRIME MINISTER:
Yes, I've heard what the Governor has said. I think they're
very positive comments. We don't talk about the future level
of interest rates but there's no doubt that the Australian economy
remains very strong. It also has an existence which while it's
not uninfluenced by what happens in the United States it has a strength
and a resilience all of its own. It's very important that the
Australian people know that although we are influenced by the rest
of the world, we really make our own luck. And we've made our
own luck over the last three years and that's why we've
been able to stare down the rest of the world, particularly in Asia,
why we've been able to maintain high levels of economic growth,
low interest rates and low inflation. And the Australian community
has every reason to look forward to continued strong levels of economic
growth.
JOURNALIST:
In light of his comments are you fairly confident about continuing
low interest rates?
PRIME MINISTER:
Well, I don't make predictions about the future level of interest
rates. I've noted what the Governor has had to say and I think
those comments will be noted by a lot of people but the message is
unmistakable. People can look forward to very strong levels of economic
growth and economic prosperity for some time into the future. It's
no fluke. We have made our own luck and it's to the great credit
of the Australian people and the Reserve Bank of Australia has played
a role in that through its great management of the exchange rate.
JOURNALIST:
Mr McFarlane says that even though we've had such strong growth
it is disappointing that jobs growth hasn't followed suit. What's
going wrong there?
PRIME MINISTER:
Well, unemployment is a lot lower now than what it was three years
ago. It would be lower still if we'd been able to get past the
Labor Party changes to unfair dismissal laws. I note the apparent
views of the Industrial Relations Commission about youth wages. We
need to make more changes to the rules affecting labour market conditions
in order to get further reductions in unemployment but so far the
Labor Party in the Senate has blocked those attempts. It's about
time they changed their attitude and stopped just being obstructive
and against everything that the Government's trying to do.
JOURNALIST:
Well, in light of what the Industrial Relations Commission has said
today, is there more pressure on the Democrats to support the continuation
of the junior wage rates?
PRIME MINISTER:
Well, I've only read the report in a newspaper but our position
remains firm. We would like the Senate to pass the legislation. That,
of course, means the Labor Party too. People always light on Independents
and the minor parties, they always let the Labor Party off.
JOURNALIST:
What about Bob Woods today his sentence he's not
going to jail, what's your reaction to that?
PRIME MINISTER:
I don't think it's appropriate for Prime Ministers to comment
on court verdicts and I don't intend to say anything about it.
JOURNALIST:
Prime Minister, the World Cup cricket tonight, how do you think Australia
will go?
PRIME MINISTER:
Ah, now I will say something about that. Can I wish Steve and the
boys every success. I had a late night last weekend and I think I'll
have another late one tonight. But they've staged a tremendous
comeback and they really are hitting the peak of their form at the
right time. But the South Africans are tough opponents and it will
be an enthralling contest and I certainly hope our blokes win.
JOURNALIST:
In relation to the Chinese woman who had a late abortion, I understand
Senator Harradine had met with you in regard to that. Will you be
intervening?
PRIME MINISTER:
Well, I've had a number of discussions with Senator Harradine
about that and certain arrangements were entered into and certain
commitments were given in China as a result of a number of conversations
and exchanges. I certainly share some of the concerns that have been
expressed about this lady. But it seems as though an understanding
and arrangement has been worked out. And we think that is a proper
basis for handling it and that seems to be the view of the Refugee
Council. And I'll continue to keep a close eye on it but I've
certainly had a number of discussions with Brian Harradine about it.
Thank you.
[ends]