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Transcripts from the Prime Ministers of Australia

Transcript 15141

Weekly Radio Message - Economic Prosperity

Photo of Howard, John

Howard, John

Period of Service: 11/03/1996 to 03/12/2007

More information about Howard, John on The National Archive website.

Release Date: 12/02/2007

Release Type: Speech

Transcript ID: 15141

E&OE...

Listen to this speech (MP3 - 1.7Mb - 110secs)
Economic prosperity is no accident.

It is the result of careful planning, strong policies and experience.

It is not by sheer economic good luck that my Government can spend $10 billion to secure Australia's water system or $1.5 billion on the aged care reforms I announced yesterday.

Australia is debt free and the Budget is in surplus. Yet when we came to office, Australia was spending $8.5 billion a year just to cover the interest on government debt.

Now when our soldiers need new equipment we can afford it. We can provide extra funding for schools, we can spend billions of dollars on the health and welfare of the nation and we have been able to cut taxes.

None of this could have happened without the right economic policy settings. The country does not run on autopilot.

We have enjoyed years of unbroken prosperity, the result of good economic management, an ambitious reform agenda and balanced social policies.

Australians have become accustomed to a strong economy and so they should. The main priority of every government should be a strong economy. It is the foundation stone of good government.

Australia's prosperity will be put at grave risk if Labor gains office. Labor has already promised to end workplace reform and there are disturbing signs knee-jerk responses to climate change could damage the mining and energy sectors.

Moreover, we should never forget that over the last 10 years, Labor has opposed all of our major attempts to pay off debt, bring the Budget into surplus and reform the economy. Only the Coalition has the experience and track record to maintain Australia's prosperity.

[ends] Listen to this speech (MP3 - 1.7Mb - 110secs)

Transcript 15141