A few hours ago, I addressed the World Economic Forum and shared Australia’s plans to drive economic growth.
Since the election, Australia has been ‘under new management’ and ‘open for business’. We are putting in place policies to strengthen the economy, create more jobs and help Australian families get ahead. We are cutting red and green tape, scrapping the carbon tax and mining tax and getting the Budget under control.
Our plan for a stronger economy recognises that economic growth with more jobs is the result of global conditions as well as domestic policies.
This year, Australia has a unique opportunity to help promote global growth as chair of the G20.
The G20 leaders meeting will take place in Brisbane in November and our agenda will focus on those issues where co-ordinated international action can add value: trade, infrastructure, taxation and banking.
The lesson of recent history is that real progress is always built on clear fundamentals.
You can’t spend what you haven’t got; no country has ever taxed or subsidised its way to prosperity; you don’t address debt and deficit with yet more debt and deficit; and profit is not a dirty word because success in business is something to be proud of.
To read my address to the World Economic Forum click here.
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- 1758 – During the Seven Years' War the leading burghers of Königsberg submit to Elizabeth I of Russia, thus forming Russian Prussia (until 1763)
- 1835 – Slaves in Salvador da Bahia, Brazil, stage a revolt, which is instrumental in ending slavery there 50 years later.
- 1848 – California Gold Rush: James W. Marshall finds gold at Sutter's Mill near Sacramento.
- 1857 – The University of Calcutta is formally founded as the first fully-fledged university in south Asia.
- 1908 – The first Boy Scout troop is organized in England by Robert Baden-Powell.
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- 1916 – In Brushaber v. Union Pacific Railroad, the Supreme Court of the United States declares the federal income tax constitutional.
- 1943 – World War II: Franklin D. Roosevelt and Winston Churchill conclude a conference in Casablanca.
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