Economic fundamentals strong: PM
July 25th, 2011Prime Minister Julia Gillard believes Australia’s underlying economic fundamentals are strong and ripe for reform despite unease in Europe and the US.
Ms Gillard was in Sydney on Monday to continue her hard sell of the government’s carbon price scheme against the backdrop of plummeting voter support and an uncertain global economy.
“There are European nations still struggling with big debt and high unemployment, and there is some nervousness in the American economy as well,” she told reporters.
“But when we look at Australia’s economy, we are in the part of the world that is continuing to grow strongly.”
There was underlying strength in the economy, Ms Gillard said, pointing to $430 billion of investment in the resources sector alone, along with a low unemployment rate and a strong budget position.
“We have those strong underlying fundamentals today because governments in the past have had the courage to step up with the big reforms that the nation needed,” she said.
Floating the dollar, reducing tariffs and introducing superannuation were not popular and were bitterly contested at the time.
“But we standing here in a strong and resilient economy because of those earlier waves of reform,” Ms Gillard said. Read more…
Tags: Economic Fundamentals, Strong