I congratulate the Solomon Islands Government and all members of the Regional Assistance Mission to Solomon Islands (RAMSI) for the impressive progress made so far in restoring law and order.
Together with the Solomon Islands Government, we realise that there is much hard work still ahead, notably in stabilising the economy. Real progress in Solomon Islands requires not just the restoration of law and order but also of economic stability and growth. I commend the way Sir Allan Kemakeza and his ministers are working with us now to restore the essential machinery of government and regain that stability.
Today I am pleased to announce a new and additional $25 million economic package for Solomon Islands, designed to help achieve that. The centrepiece of this package will be a concerted effort with the Solomon Islands Government to stabilise its 2003 budget and develop a credible, affordable budget in 2004.
A team of seventeen advisers and in-line personnel has started in the Ministry of Finance including seven officials from the Australian departments of Treasury and Finance. They are working with Solomon Islanders, sharing and developing technical expertise in the key areas of budget, audit, treasury, inland revenue, customs, payroll and debt management.
The team will work with Solomon Islanders to ensure that revenue owed to the government is collected and held and that expenditure is properly authorised and controlled, allowing the government to function. We, like ordinary Solomon Islanders, want to see teachers and nurses getting paid and departments being able to deliver basic services such as health and education. Our new assistance will also begin to address the critical issues of public sector reform and debt management.
This assistance will play a key role in establishing the base for improving investor confidence, achieving economic recovery and supporting sustainable social and economic development. It is a key element of the RAMSI package agreed between our two governments, and one on which I place great importance personally.