Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Government's chickens come home to roost - Say democrats



Download PDFDownload PDF

PRESS R E L E A S E m

THE SENATE

GOVERNMENT'S CHICKENS COME HOME TO ROOST - SAY DEMOCRATS

"The Government's refusal to allocate supplementary

funds to federal departments despite larger than

predicted wage increases would cause another round

of penny pinching," Senator John Siddons predicted

today. ,

Senator Siddons, the Australian:Democrats' spokesman

on Treasury and Finance said if the Government· had . . .

selectively stimulated the economy in the August

Budget, as the Democrats had suggested, revenue would

now be increasing rather than falling. Cuts in

real expenditure being forced on federal departments

. would not be needed.

"Revenue from the oil levy has fallen short of Budget

predictions whereas wage settlements have exceeded

Budget provisions. But the Government has refused

to make additional funds available, although the last

financial year nearly $400 million was made, available

in excess of the 1980 Budget allocations. . · .

Senator Siddons blamed the Government's poor industrial

relations record and its inept, dour and negative

handling of the economy for the shortfall of revenue. '

MORE

2 .

"We will soon pay the price in the form of yet higher'

inflation and unemployment and falling growth rates

unless there is a quick change of policy. The Government's

chickens have come home to roost. Its doctrinaire

approach to monetary policy has ensured interest rates

are the highest in the country's history. They have

probably not yet peaked and the economy will lumber ■ ■

under the twin strains of tight moriey and spiralling

wages. .

"Even a modest stimulus to such a depressed industry

as the housing construction industry would increase

activity, provide many jobs and increase Government

revenue.

"But for this to happen the country would need men

and Women of imagination and vision, not the myopic,

dour conservatives we have at the helm. We need a

Franklin Roosevelt to cast aside the tunnel visioned

Herbert Hoovers, " the Senator added.

CANBERRA

27 January 1981

FOR FURTHER INFORMATION CONTACT

Senator John Siddons (03) 622521 ex. 76

Nigel Brand (03) 622521 ex. 78

)