J),, AUSTHA1. IAL
FOR MEDIA SUNDAY, 9 DECEMBER 1979,
ELECTORATE TALK_
Australia is about to enter an exciting decade that will. see
development and investment unparalleled in our country..* As* the
world is fast beginning to realise, Australia is ina'eed the
lucky country.
With our supplies of minerals, our vast reserves of energy along
with the quality and calibre of our people we have the
opportunities that are second to none.
In a world that is facing continuous problems of low growth,
sluggish trade and great uncertainty following the Middle East
oil crisis, it is imperative that we insulate ourselves as far
as possible from these problems. We cannot afford to sit back and
be totally caught up in overseas events. It is not good enough
for Australia to allow itself to become the victim of a crisis
far from its shores and far from its control.
As a Government we have recognised our responsibility to take
initiatives to put our nation first. Over the last four years
the fundamental imbalances in our economy have been largely
overcome. Our inflation rate is now below that of the O. E. C. D.
that is the advanced Western countries and it is well below
most of our major trading partners. Costs are down. Exports
are up. Our industries are more competitive than they have been
for many years. with this going for us, we can enter the 1980' s
with greater prospects than most of the industrialised world.
We have established the economic environment which now allows
private industry to undertake major development programmes tha-) t
will benefit every Australian. Your Government is playing its
part. A major step was taken just over a year ago in a historic
meeting of the Loan Council in Melbourne which approved a new
$ 1.7 billion borrowing programme to finance 12 projects. That
decision was a breakthrough. It was a vote of confidence in
Australia. The Premiers and the Commonwealth, meeting again in Loan Council
in Canberra last Friday, endorsed that vote, with approval for
a further 9 projects worth about $ 800 million.
These decisions will mean that Australia's development will not be
impeded because of inadequate supporting capital facilities,
whether they be power plants, roads, coal loaders or ports. / 2
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The major portion of last Friday's approvals almost $ 500 million
worth covered electricity generation projects in N. S. W.,
Queensland, South Australia and Tasmania. Basic resource
development accounted for the remainder.
The meeting was a fine example of how the Commonwealth and the
States, working in tandem, can take decisions of vital importance
for this nation as we move into the 1980' s and beyond.
Energy, of course, is a key area of Government responsibility. As
we move into the new decade and into a great new national
development programme, the management of our vast energy reserves
is an integral part of that development. The appointment of
Senator Carrick a very senior Minister as head of the new
Department of National Development and Energy, underlines our
resolve to make the best possible use of our nation's resources.
The availability and pricing of energy are at the core of the
effective functioning of our economy and indeed, the world economy.
The development of our energy resources, in partnership with
State Governments and industry, works hand in hand with private
sector investment, growth of industry and employment, trade policy,
transport policy and foreign policy.
We appreciate the need to strengthen our industrial base and
encourage to its greatest extent the processing of Australian
minerals by Australians. This year's programme of developmental
projects will expedite the development of energy reserves
which are alternatives to liquid fuels.
The new programme will provide an unprecedented coal-fired power
base for mining and manufacturing investment in Australia,
including the domestic processing of our own raw materials.
Australia is partly dependent on imported crude oil. But with
prudent and imaginative policies our abundance of other energy
reserves should be a growing source of wealth and prosperity in
the years ahead.
Of course, these great national development programmes will not be
realised without an able work-force. The working men and women
of Australia are equal to that task. The development programmes
initiated by Loan Council last Friday will provide many thousands
of new jobs. In the operational stages, in the construction stage,
in supporting industries, and in the service sector, they will
be the kind of jobs that Australians want. They will not be
stop-gap jobs. The work opportunities that will be provided
will be rewarding and long-lasting. They will be private sector
jobs based on Australia's rich resources.
In economic terms, it boils down to this: " The last four years
have seen steady and sustainable growth in our international
competitiveness and in our attraction of overseas investment".
These are the criteria for employment growth. With our policies
and our programmes, Australia will continue to grow and to prosper.
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