FOR MEDIA SUNDAY, 24 AUGUST, 1980
ELECTORATE TALK
Last week's Budget continues the Government's responsible
approach to economic management. It consolidates the-gains
of the last five years and provides a blueprint . for the
development of Australia in the years ahead. Above all, it
maintains the fight against inflation.
Our main objective during our five years in office has been
to strengthen the economic health of Australia and to provide
the foundation for renewed economic growth. This has meant
an unrelenting fight against inflation, which has required
hard decisions. Unlike Labor we have been and are -willing
to face up to reality and take those decisions.
The fact that this Budget will achieve a balanced domestic
position is a landmark in Australia's economic recoveryr. No
longer is Australia living beyond its means. We have paid off
Labor's debts.
This Budget the first of our Budgets for the 80s squarely
faces up to the challenges that the decade will hold. Above
all, it provides a base for the continuing growth and expansion
of industry and for the development of our great natural
resources. It is essential'that growth should open up
opportunities for all Australians to share in these developments.
There is no merit in development for development's sake. -But
the reason my Government encourages development is that it
enables more Australians to have lasting and decent jobs; it
enables more families to pursue their own future in their own
way; it also gives Governments the resources to provide the
kind of care and concern for those people most in need.
Let's not Jforc-et that Australia's greatest natural resource is
the people of Australia. There is simply no point in development
and growth unless all sections of the community, particularly.
the disadvantaged, the handicapped, the elderly, the young
and the sick, are able to share in its benefits.
We believe that together with voluntary organisations, Governments
have an obligation to help those least able to help themselves.
Almost $ 10,000 million-is earmarked this year for social security
and welfare programmes. This is a 12.4 per cent increase over
last year.
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Some of the increased welfare payments in this year's Budget
include: the handicapped child's allowance will be increased by
$ 8 to $ 73 a month. The double orphan's pension will be
increased by $ 8 to over $ 55 a month;
the additional pension or benefit payable to eligible
persons with dependent chilren will be increased by
$ 2.50 to $ 10.00 a week for each child. About 560,000
children will benefit as a result;
single oensioners it children and supporting
parent beneficiaries will receive an additional S2 a wa; er.
About 190,000 single parent families will benefit,
the six month waiting period for the supporting parent's
benefit will be removed, providing benefits for an
additional 15,000 or more supporting parents.
As we all know, Australia is to the forefront in many areas of
science and medicine. Our researchers have achieved the highest
levels of excellence and international recognition. We believed
that there was a need to encourage further that outstanding
work. To meet that need, Budget outlays for medical research
were increased by 30%, and the allocation for the Australian
Institute of Marine Science has been increased by over
Here we had particular regard to the obligations in relation to
the Great Barrier Reef and to the need to learn more about the
200 mile economic zone which is of such imoontance tO us.
The Budget was framed in a period of heightened world tension.
Soviet power play around the world has meant an increased
obligation on Australia as an independent and middle-ranking
power and indeed on all democratic countries to upgrade
our defence preparedness. We have increased defence spending
by over $ 500 million, or 7% in real terms. Much of this
increased vote will be spent in Australia on purchases and
equipment made within Australia. Our objective is to lift
capital equipment expenditure to about 25% of the total defence
budget. While these funds would have had to be provided for defence
in any case, the increased Government revenues from our oil
pricing policy have certainly assisted us in meeting this
particular objectñ e. in additcn, those reen.. s are also
making possible the tax cuts of over $ 600 million which applied
from 1 July this year, and which is very much an integral part
of our total budgetary approach. The oil revenues also
assisted in helping us to reduce the deficit. These are three
important objectives.
The 1980-81 Budget demonstrates our integrity as economic
managers. We have refused to enter into a public auction for
votes with the taxpayers' money. There is no way we will follow
Labor down that path. / 3
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This is a Budget of responsibility; a Budget of stability;
a Budget which enables all Australians to be confident in
their individual and national capacity. And, above all, it is
a Budget of compassion and conern; a Budget which promotes
the economic health and continuing economic strength of this
country. It will further assist in making our economy the
envy of many around the world. It is a Budget in which, I
believe, we have discharged our responsibilities to all
Australians with fairness and with honour;
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