PRIME MINISTER--
NMI&, SUNtDAY, 4 APRIL 1982
ELECTORATE TALK
8tm-io re important than ever for governments throughout Australia
" t0o~ puxAe policies of stability and restraint. It is to be hoped
'. that. the new government in Victoria understandia and appreciated this
. Thei intern~ ational economic sacene is diff-i-cult---tie present worldroessioi.
is the worst in many miemlories. Trade is not picking up.
Some majpr overseas economies and markets are shrinking, not
gxr oing and unemployment in many countries is high and rising.
94iinst this background, Atistralia is continuing to grow and we
d td,-7ha11 resolutely maintain policies which enable us to do so.
Desitethe drought last year, Austais ovrall final output
grew. by almost 3% in real terms in 1980-81 and total output,
Inclding both the farm and non-farm sectors, is expected to
at -a-similar rate this year. Despite the effects of the
yold clown turn business investment in Australia is Cotinuin at
-a.-high. level f ollowing last year'Is 30 year xecord and over 100, 000
l-onbws were created in the year to January..
q4'-u we must face the reality that we are affected by the world
down! turn;-* that we are facingq tougher competition from overseas.
a It has -not been a good time for the introduction of shorter
aor,. or for the high wage rises. which so much of our workforce
ppass t-yheiee cx r aiaaeeea n onnto owpo mna king oi0t fthhairsd, e r wltioed r'bapuuoielrdat-h uspt rmikoels:, y oevnrt. h
Ovesesgoods are being produced more cheaply. In some countries
$ aactual rafductions in wages have been accepted because they want
t rjobs, and they want to sell their products. The outlook for
*~ A~ ra ianproducts in overseas markets is worsening because our
C08t6s ave gone up while other countries have contained their costs.
It i~ agaiunst this background thwe ae g6t ing on wIhq e o
of providing the kind of stable government which Australia needs.
~ WNPie_ r! z'neeeedd -tcoo. nwtionruk itwy. i th-Wpreo vneene d paonl icuinedse. rstaWn4ed innege d ofa wstheaatd yw e apcapnroach.
'~ achieve together, a willingneas to put Australia first ahead of
sect~ Ional interests.
To. be sidetrackedl f rom our establ ished path would cause major damage
tor-our, economy for years-ahead. We must demonstrate afresh to the
~ o~ i ourstability and reliability. We muist show the world that
we 14i1l appraoch our economic future in a mature and f arsighted way.
e need to show the world our determ~ ination to handle industrial
j, 7-,, r-ejations effectively; that tie will not demand wage rises which
theeooyano afford; that we are willing to maintain
~~ t~ 4~ ton governmrent spending.
reponsbiltto provide the stability on
whc onfidence depends is absolute and overriding. Only in
Sthat wa~ r can we take advantage of the great underlying strength
oforeconomy. only in that wqay can the living standards of
Australia's families be secured. 0 0
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