PM Transcripts

Australia now confronts a deep and protracted global recession that's making business very uncertain about investing.The Government understands conditions for some businesses are very difficult - especially in the construction sector.But we won't sit by and watch as our economy and Australian jobs are put at risk.That's why we acted so decisively with our Nation Building and Jobs Plan - a $42 billion investment to support, business, the economy and jobs.We've struck the right balance - investing in a massive nation-building plan to support economic growth, jobs and small businesses.It's focussed first on immediate economic stimulus but also on investing in infrastructure and encouraging the private sector to invest as well.We'll install ceiling insulation in up to 2.7 million Australian homes and build more than 20,000 new community and defence homes.And for small businesses, a 30 per cent tax break on capital investments worth more than $1000 or more than $10,000 for other businesses.We welcome the recent cuts to official interest rates and have urged the banks to pass it on in full as rapidly as possible - to business borrowers and homeowners.We'll do everything possible to cushion the pain but there's no silver bullet.Backed by the Government, Australian families, businesses and the whole community will do as we always do - pull together and emerge from this crisis stronger.