Thank you very much Louise for that kind introduction. Peter Costello, the Deputy Leader of the Federal Parliamentary Liberal Party and Federal Treasurer, Russell Hannan, the President of the Victorian Division, former premiers and leaders of the Victorian Liberal Party, my fellow Australians. I am truly delighted to be here today to lend my full personal support, and that of all members of the Federal Parliamentary Liberal Party, to Ted Baillieu's campaign to win government from the Labor Party here in Victoria.
It's a tough fight but it can be done. In the short time that Ted has been leader he's brought new vigour and energy to the Liberal Party in Victoria. He's talked about the future because this election is about the future and not about the past. He's laid out a plan to get Victoria moving in the right direction, he's identified some of the major challenges of this great state and he is presenting a strong viable alternative to the Bracks Government.
Steve Bracks is like all Labor Premiers, he's all claim and no responsibility. Whenever anything goes right in Victoria, it's all due to his wonderful leadership. Whenever anything goes wrong, oh well that's the fault of the Federal Government. He points to a lower unemployment rate in Victoria than was the case 10 years ago. He points to strength in the Victorian economy. Let me tell you ladies and gentlemen, the name of the Victorian responsible for the economic strength of this state is not Bracks, it's Costello. The truth, of course, is that the national government is responsible for the overall health of the economy. It is both entitled to claim credit and must also accept responsibility, and that is how Ted Baillieu will govern. He will properly claim the credit for the good things he does and he will accept responsibility when things don't go so well.
There is much debate in the Australian community now about the level of interest rates. Let me tell you there's only one government in this country that consistently runs budget surpluses and that is the Commonwealth Government. And one of the factors that is exerting upward pressure on interest rates, is the fact that so many state Labor Governments have now fallen into budget deficits. And if you include, as you honestly should, the capital expenditure of the state of Victoria, this state is now in budget deficit. And given the extraordinary bonanza that all of the states have received from the Goods and Services Tax, an additional $400 million windfall for the state of Victoria over the last two years, there is no excuse, there is no complaint that can be sheeted home to the Commonwealth Government. That budget deficit in Victoria, including capital expenditure, is all the work of Steve Bracks.
There is no greater conservation or environmental challenge that Australia faces than that of water. It's an issue that is important to us nationally and it's important to all of the states. And we do need to find and identify a national solution because the river systems of our nation pay no regard to state boundaries. The Great Artesian Basin lies under many states of our nation and I want to congratulate Ted Baillieu for the way in which he has identified, in a practical fashion, some of the measures that are needed to tackle the water shortages and the water problems of the state of Victoria. He's committed himself to the construction of the first dam in some 23 years in this state, he's identified the need for water recycling, he's identified the need to share the water of this state between urban and country communities. In other words he's committed himself to a practical plan to tackle the water challenges of Victoria just as he's committed himself to practical plans to tackle those ongoing fundamental responsibilities of state governments in the areas of schools and health and public transport.
This is a great state, it's a state that has led the nation in so many areas, in so many ways, over the years. It deserves better than it's had over the last seven years. It deserves better than a Premier and a government that has been happy to hitch its star to the performance of the national economy. But of course whenever heavy responsibility comes its way, it ducks for cover and says that is all the fault and all the responsibility of Canberra.
I am proud to be associated with Ted's campaign, I commit myself and all of my colleagues to work hard to secure his election and to work in total cooperation and harmony with him in government. Ladies and gentlemen, it is my great pleasure to invite you to welcome to the stage the leader of the Victorian Liberals, Ted Baillieu.
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