PM Transcripts

PRIME MINISTER 31/
FIRST KEATING CABINET MEETING ECONOMIC STATEMENT
The Keating Cabinet met for the first time today to begin
work on an Economic Statement to speed the recovery and job
growth. The Prime Mi~ nister told Cabinet the Statement would detail a
plan to deliver a much-needed boost in confidence to
business anti the wider community.
It would contain specific measures to encourage investment
and provide greater certainty in business planning as well
as measures for industrial development and work on major
infrastructure projects.
The Prime Minister stressed that the community was looking
to the Government for leadership and that the Statement
would providle that leadership and articulate a clear,
practical plan to get Australia growing again.
He told Cabinet a major task facing the new Government was
to get out cf Canberra to listen to business and community
leaders.
This would involve the Prime Minister and senior economic
Ministers meeting with small and large business, unions and
community leaders during the next few weeks to hear their
ideas for recovery.
As an initial step the Prime Minister, the Treasurer, the
Minister for Finance and the Minister for Industry,
Technology and Commerce would meet key business and union
leaders from. different States in Melbourne and Sydney over
the next two weeks.
The PM and Ministers would also be in touch with State
Premiers and Territory Chief Ministers as work developed.
The Treasurer, Mr Dawkins, reported to Cabinet on current
economic conditions and said the most up-to-date information
from Treasury confirmed the view expressed by the Prime
Minister over the past few months that the economy has been
weaker than official data suggested at the time.
Mr Keating said the timing of the Statement was yet to be
decided but he expected to deliver it in the Parliament in
late February or early March.
7 January 1992