PRIME MINISTER
TRANJSCRIPT OP-PREi~ SS CONFERENCE -KINGSTON PARK, ADELAIDE
26 November 2985
E u E~ P'ROOF' ONLY
JOURNALIST: How will you hellp Mr Bannon in the ccimpalgn?
Won't you remind people of' high interest rates by comting [ 9
to Adelaide?
PM: No, I will, remind people of what Australia is like ira
1985 compared to what iL was like in 1983. lKe came Lo office
just a few months before that, Australia was irn desperate
straits then. And people recognise and appreciiite what we
have been able to do nationally and at this level in South
Australia. JOURNALIST: Do you remember saying in Adelaide about a yeutr
ago that interest rotes would fall?
JOURNALIST: f don't remcmbcr everything I said iii Adelaide
or elsewhere. But let me say this thaL what we have made
clear is that we would adopt the policies thai dre appropriaite
to the economic circumstances with which we are confronted.
And adopt those policies which are necetssary to sustain thie
strong rates of growth that we have had. Now, because of
the pressures on the exchange rate it was necessary, not
just appropriate, it was necessary to tighten monetary policy-
There is no argument at allI that was necessary to sustain
the dollar against t. huse pressures. And we have adopted
that stance in monetary pol icy together with all the other
elements in policy so that we can ensure that thte strong
growth that has flowed From our' general policy stance will
be maintained. And so that we will ensure that Australia
maintains the beniefit of the depreciation that did in fact
take place later in the year. And you have got to look in
terms of economic outcome at the combination of all relevant
polices. So that when you take monetary policy, wages polibY,
fiscal policy together' with what we are doing generally in
regard to industrial relations. All those things are Producing
a continuation of high growth, thart means d continuation
of further employment, reduction of unemployment, and the
creation of far more opportunities for many more Australians.
And that is what people jud4" us on.
JOURNALIST: Primte minister, despite your criticism, isn't
it true that privatisation as a policy is likely to be
electoral ly appeal ing? / 2
PM: Not the way it is being presented by Mr Olsen heti--because
it is riddled with inconsistencies and inprdutJcal ities.
If the Liberals arid the National Party want Lo yo on with
this I will be very pleased. Mr UltOie will get beatert in
South Australia. And if the Liberals don't learn from that
and they want to continue the proposition of saying to the
people of Australia that they will sell off public enterprises
which will mean that those element~ s of pub~ ic enterprl'ses
which are profitable will be passed over to Private enterprise J
so Lhat a greater burden will be Imposed upoft t-axpayers and
less services provided to the people of Australia, I hope
they do it. They seem incapable of Icarning from MISLsakcs.
And it looks as though that is still the case here. Perhaps
after Mr Olsen gets defeated they will review their policies.
JOURNALIST: Would you expect some sort of resulL tonight
from Mr Keating's negotiations with the Democrats on the
tax package?
PM: I don't know. What Paul and I have made clear is that
there will be no change to the basi~ c substance arid trust
of our * tax policies. We have indicated that, there may some
room for sonic fine tuning but Paul and T have had a discussion
about that and I don't " Ahether he will conclude those discussions
this evening or not.
JOURNALIST:. Prime Minister, in Brisbane two months ago you
said you would consider' a reshuffle at the end of the year.
Have you done that yet and will Mr Hayden be mioving from
ForeignI Affairs?
PM: Oh, I don't know where that came from. Let me once
and for all settle this. At some stage earlier this year
Bill indicated he may be interested in a domestic portfolio.
And because T have, as you know, the respect 3Mr H-ayden
and also, niot just respect for him, but respect for his entitlement
to be listened to if he had wished to change. I had said
that if he wished to, then of course I would be prepared
to do that. Now he has made it clear now that he doesn't
want to. Anid therefore there is no suggestion of a change
for Mr Hayden...
JOURNALIST: Wha. about fromn other..
PM: No. No. I can't see any necd for that. They' are performing
brilliantly. I mean, you watch them in the House don't you.
You see the way they slather their non-existent opposition.
Now they are bathing them. Each Minister, each one of
them, is just slathering their opponents.
JOURNALIST: So, you will qjc 1, he-nflextI. eloctioi w; tIVX blh SAIMg r.
PM: I would think so. I certainly haven't got any concepts
of reshuttle at this stage. Why should I? / 3
* I
JOURNAI.. IST: How long do you think the Government will maintain
a monetary policy which keeps Interest rates high? Is thert
any point at which the Government will start to loosen that
off when the dollar starts to appreciate?
PM: We will maintain a monetary policy which is necessary
to meet those objectives that I talked about before. And
it is not helpful to anyone's interests for me to say well
at such and such a point there will be a change. What the
Australian people want from us is a continuation of the range
of economic policies which have produced the results that
I have talked about.' And while it is necessary to have firm
monetary policy to produce those results, we will do It.
And I am not going to prejudice anyone's Interests by postulating
or hypothecating about some circumstances which may be down
the track at some near stage or some medium stage. What
they want from us is firmness in policy. They have got it,
It las produced results and will continue to do It.
JOURNALIST: Mr Hawke, Cabinet yesterday decided to defer
a decision on tightening up the reporting requirments for
statutory authorities. Was that done with the South Australian
election in mind?
PM: No. We have got nothing to worry about with the Liberals'
policies of privatisation. They provide us with all the
ammunition we need to destroy, as I say, their Ideological
garbage. It has got no substance, no point, purpose, practicality
at all. It is all negatives when It Is examined. And will
be seen for that. Because when we are looking at the question
of requirements in regard to statutory corporations, there
is a difficult range of issues that have to be taken into
account. A balance between the two basic considerations
of giving statutory corporations as much independence as
they need, particularly those that are commerciul corporations.
And also, secondly, taking into account the need for accountability
to government. Now, all we have done Is that Ministers are
going to consider further what was a very, very substantial
submission. And they will coming back before long to the
Cabinet. There Is no sense of urgency about this. There
never has been.
JOUKNALIST: Sir, Mr Beazley has said the submarine contracts
will be awarded all over Australia? On the basis of that
b-, Uhww-M. r UBannon says here I am confident I can convince Bo
Hawke that we will-win.
PM: No need to withdraw that advertisement. In fact, South
Australians should be deeply indebted to John Bannon because
without the firm submission and advocacy and exposition of
John Bannon, South Australia wouldn't be the ser is contender
that it can be in this issue. John Bannon is the man who
single-handedly has picked up the responsibility for putting
the case ot South Australia. And we take It very seriously.
And as you know, at this stage, the project definition stage
is being handled. We have got to wait until we get that
report. But I can say that because of John Bannon's advocacy,
South Australia's case will be very much to the forefront. / 4 J
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JOURNALITST: If there is a Liberal Government, after' the next
state election, will that. position of South Australia be
diminfi shed?
PM: Well, let me say this. That there is no Libeu~-al, and
particularly Mr Olsen. who could match Mr Bannion as an advocate
for this state.
JOURNAL. IST: But. would South Australia's position be diminished? P
PM: Let me make iL clear Lhat when I got elected with my
Government in March ot ' 83, we said that we were a government
for all Australians. Anid we have been. For Tasmarijans
and Queenslanders, as for' others. I don't take the view
of some Liberal politicians that you reward or punish according I
to how people have voted. Let me, having said that, let
me make it clear that IL is John Bannon who has been the
one who has picked up this case. Here, overseas, there is
no-one in South Australia who knows as much about this issue
both in terms of its Australian ramifications and internationally,
as John Bannon. There is no-one who could put the case as
well as 3ohni Bannon-.
JOURNALIST: Mr Hawke, tomorrow's Bulletin poll shows a
drop of 6% of Mr Howard's approval rating.
PM: Does it? How do you know?
JOURNALIST: S; o I am led to be) ieve. iI
PM; Do you believe everything you are told?
JOURNALlST: Almost.
FM: 1, et me say, i should do.
JOURNALIST: Well assuming it docs. What would you say that
means for Mr Howard's sur-vival?
PM: Well, you know they are keeping a scorecard on him.
The chief scorecard keeper is Michael Hodgman. And I believe,
and I don't pretend that my avenues of information into the
Liberal Party are necessarily as good as others, but what
regard as pretty reliable information, I understand thatV
in recent weeks the best score that Michael has given John
is 2 out of 10. So there is not much lower that he can go
in the markings of his colleagues. But, I am not here to
gloat about the demise of this once great party. Its descent
into the most bitter factionalism that has been in Australia's
politics for very many years. They make the Labor Party
look like amateurs when it comes to factionalism. The hatred
that is evident in Canberra now, between Liberals and National
Party. I have not seen the like of it. And people who have
been around far 30 years say they have never seen anything
like it. So, if what You say is right, then it is going
to exacerbate that bitterness arid that, hatred. And put back
even further what we are all hoping for and that is perhaps
the emergence of some policies, some principles. They are
absolutely lacking in principles, policies and leadership.
JOURNALIST: You arc gpLt. ing un easy ride out of it though.
aren't you?
PM: We are getting thie ride thatL we deserve because of tho
results that wt-. hflave produced in this country. That is one
fact. or which Is producing the attitude which is true in politics.
Th1U assessment that is made Is a combination of how they
judge you positively i recgard to what you are doing. And
how they look at the alternative. And the alternative is
pathetic. They got rid of Andrew because he wasn't a man
of principle anrid policy. That. was John Howard u
hie has yut no principles, he has got no policies. Well,
they lidve got less principles and less policies than they
had before. And they obviously have got no talent there
at all. ruthing to turn to. So. I just don't know what they
are going to do. But I don't want to pretend that I am taking
up a great ded] of Lime trying to think of answers for them.
ends I* I. II 2~. I, II 1' 4-I,