PRIME MINISTER:
This is a very important meeting because as you all know on 1 December Australia assumes the chairmanship of the G20 and it is very important that we make the most of our year in the Chair to showcase Australia and provide economic leadership to the wider world.
We need to see more economic growth right around the world and what we want to do is to provide good example here in Australia because a good example is contagious and we want people to be able to learn from what we do, not simply to listen to what we say.
So, we need to get taxes down, we need to get regulation down and we need to improve investment in economic infrastructure.
This is where our domestic agenda and our G20 agenda have got to be so much in sync.
What I would like to be able to say to countries in our year of G20 chairmanship is that we are getting taxes down, we are reforming the tax system and as we know tax reform starts with abolishing the carbon tax and abolishing the mining tax.
That is why it is so important that we pursue this agenda vigorously over the next couple of weeks and months as needed.
It is important that we stress the message that if we want economic growth it is not going to be so much driven by government as facilitated by government.
This is where a smaller, more efficient government message is going to be so important for us, not just to preach but to practice.
I am pleased that we have made a good start by getting some of our legislation through the House of Representatives in the last fortnight.
I am pleased that we have made a good start on deregulation, with things like our one-stop shops for environmental approvals and abolishing some unnecessary Government bodies.
Obviously, there’s a lot more to do over the next few weeks and months as we move into our G20 year.
Joe, you might like to add something.
TREASURER:
Well, thanks Prime Minister.
It is a big year next year, this year and next year for the G20.
The G20 Finance Ministers will meet on at least five occasions next year; in Sydney and Cairns in particular, twice in Washington and of course with the Leaders in Brisbane.
Everyone is expecting a simple and deliverable agenda, much like our domestic plan, that focuses on growing the economy, on ensuring that anyone involved in tax minimisation through transfer pricing and so on is caught and in ensuring where the money is earned that the tax is paid.
It is also the case that we want to land simplicity, with the global regulation of the financial system.
The third area is to focus on infrastructure, as you have said.
One of the key drivers of growth across the globe and here in Australia is going to be infrastructure investment and I think we’re well placed to take a lead in it.
PRIME MINISTER:
And the impression I very much have from talking to people over the last few weeks, at various international gatherings, is that our national priorities and the world’s priorities, are very much in alignment…
TREASURER:
Absolutely, absolutely.
PRIME MINISTER:
…and that gives us considerable potential to do well over this coming year.
[ends]