E&OE...................
With the successful sale of a further 16 per cent of Telstra 1.6 million
Australians have taken a direct stake in one of our great national companies.
This includes around 400,000 Australians who have invested in shares for
the first time.
Their decision supports the choice of 1.8 million Australians who bought
shares in the first Telstra sale.
It was that sale which contributed to the Government's repayment of over
$24 billion of Labor's $96 billion debt and which funded the biggest environmental
package in Australia's history.
The $16 billion expected from the latest sale will allow the Government
to retire even more national debt.
It will also allow us to do much more.
Sale proceeds will be used to help establish rural transaction centres to
bring banking back to the bush in 500 country towns across Australia.
SBS television will be extended to the homes of another 1 million Australians
in places like Mackay, Shepparton, Port Lincoln, Eden and Port Hedland.
There will also be more Australians in remote areas who will be able to
make untimed local calls to their neighbours.
In addition to these benefits, regional Australia will be able to obtain
access to the internet at the price of a local call. There will also be
continuous mobile phone coverage on major Australian highways and an extra
$250 million to protect the environment.
Regrettably, the Labor Party has opposed our steps to provide the means
to deliver these benefits for the bush even though they were the ones who
in office sold many government assets.
By way of contrast, the Coalition has been frank and open about the benefits
of selling Telstra. It can reduce Government debt and ensure that services
are maintained in the bush. Goodnight.
[ends]