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P R I M E M I N I S T E R ________ - 2 / 7




H ello Ladies and Gentlemen. In the electio n next Saturday we must vote in A u stra lia 's In terests for the Party which v;e b elieve can ......le a d ; 14s responsibly, through a decade of opportunity and of increasing b e n e fit fo r a l l A ustralians.

During the la s t fiv e years Doug Anthony and 1 in partnership with a l l people' in th is country, have made Australia a strong country and one th a t's respected. Our recovery has taken place in a d if f ic u lt economic world and today our strength is admired by many other

in d u str ia lise d cou n tries> but the strength of th is economy mustn't be s a c r ific e d . I t i s only through a strong and stable economy that fa m ilie s can plan for the future. People can get the jobs that they want, confident th at what they've gained w ill not be taken from them

because of incompetence In Government management. ' \

We lowered in fla tio n g re a tly , and that means that Australian costs are down. We're s e llin g more manufactured goods, more rural and mineral products in overseas markets. Investors here and overseas recogn ise our hew strength with the resu lt that investment i s r isin g . There1 s expansion in bur fa c to r ie s, new equipment i s beihg in sta lle d ,·' Towns> ports and railways are being b u i l t . Businessmen taking

r isk s in the knowledge that Australia knows where i t ' s goingSand the most p lea sin g r e s u lt of a ll th is i s that employment i s growing and jobs are being created. So th is is n 't development for development's sake, i t i s development because of. what i t means for Australian

fa m ilie s because o f what i t means to Australian vforking men and women

In the la s t twelve months the growth in overall employment in r " T r e h T ^ r i B ^ T h e T g t b ^ t h : ^ i n : : , t e e n a g e ; ^ m p l o y m e :

was the b est for f if t e e n years. The growth in rural employment was the b est fo r th ir ty years. Now these are real achievements. We. must keep them in mind when we go to vote on Saturday. Because achievements that have been hard won can so e a sily be sa crificed

and by any responsible analysis the Labor prescription for the e ig h tie s would plunge A ustralia back into the great d if f ic u lt ie s from which we have recovered. D iffic u ltie s which many overseas cou n tries are now encountering. D iffic u ltie s which sen sib le p o lic ie s and sound economic management can avoid for A u stralia.


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AW &^Sth^chus^ofYthieiinflatiori'irm dercLabori-:^ rYpSKS6WY®l8@Bi§SSS6l$lSli8l8^^ Labor have ou tlin ed a massive spending programme,' the exten t of ' , which they, have attempted to .conceal from the A ustraU ^ /p u blic,

' · ow; ^nreal i s t i c| f i gure&rt hei r ::progranaie.;:5>fpuldy r^quire·...#^·/ :;^Y·'additional.-$1900 m illio jv‘in order to pay ;for i t , th a t’s expenditure,...., . “W i-tlx . --j JS O t n . 0 · S * ··· y v t - - L 6 2Γ6·.. & ^ :: ^ ^ ^ ^ -P ^..-τ . 0 . νθ£ .- Vy:r.^>>-.-T/.v;..->r:ri-t^- v.

spending programmes so that a conservative estimate of the cost of a Laboi' Government would he enormous.

Many times leading up to th is e le c tio n , Labor have said that their programmes would .be implemented. Only on Friday Mr. Young said that none o f the programmes enunciated by Mr. Hayden 'would go out the window. A ustralia ju st cannot afford Labor's extravagance, \ % Labor's spending. You can’t afford i t and make no mistake, you'd

be paying for i t , '

The r e s u lt o f Labor's spending and o f theii: other p o lic ie s would be ' in f la t io n o f about 20% and what doss that do to a grocery b i l l in

the supermarket. The $45.00 b i l l very soon becomes a $54.00 b i l l and then you'd find that a $3.00 a week tax cut would look pretty th in . T hat's the sort of thing Labor did la s t time they were in

o f f i c e , Whatever your savings are now, whatever your economic • security" i s nov7, these would be sabotaged by in fla tio n brought about by g rea tly Increased spending.

And what’s even worse than th at, because what they didn't s te a l from you in in fla tio n , they would then take in higher taxation, because over and over again the Labor Party have promised you higher taxation. ' In fa c t Mr. W illis , who's the Shadow Treasurer, has spoken about

what he c a lls the mamouth task in rebuilding the public sector, i . e . in making Governments bigger in taxing people more. He went on to say th a t Labor would convince the electo ra te or would have to convince the. e le c to r a te that i t should pay a h igh er-level of taxes, so that .

the Government sector could be increased under Labor. ‘ -

Many times Mr. Hayden has sp elt out what these taxes would be. Let..

me t e l l you some .of. the things that he said. In 1978 he "emphasised" th at he lik e d the cap ital: gains tax because i t was a neat : »

comprehensive system o f taxation. A year later he stressed t h a t .... A h is Party was refin in g th is proposal about a ca p ita l gains· tax and then he sa id q u ite b lun tly, we won't retreat from itV .In that ;; speech he sa id , we propose,without any apology at a ll, the introduction o f a. c a p ita l gains . tax, ajresoufce rental tax and a.-petroleum' revenue

tax, which Mr ? ; Keating had. said at one point would r a is e more than ·· the present o i l le v y , z Then:he capped a l l th is by saying that, Labor. . ; ; would restru ctu re the tax sc a le s, making i t clea r, ageing that he wanted to r a is e more reven u e..

He was q u ite s p e c if ic . . Of course/ he s a i d , th ese are new taxes · and they*re overdue ta x e s/ -iHe1 re intro ducting new taxes to avoid .. jacking :up o ld ta x e s / "Now norohe can say that they*ve not- been v i. warned by the Labor Party spokesman themselves. They * ve warned us

time -and time a^ain-about- th elr: plans to increase the ta x a tio n :. on. th e fa m ilie s,o n the working men. and. women o f Australia; : . . ·* " " ‘ . .r „ "

iT / Mr. Hayden has m ade/explicit that tax on ca p ita l gains would be ... le v ie d on th e d ifferen ce between the amount the a sset was bought for and what i t was sold fo r . Think what that means in rela tio n to your fam ily home, your holiday cottage or your boat. As i f th is

tax grab were not enough, Mr. Bowen, the Deputy Leader of the Labor Party, has alarmingly foreshadowed a wealth tax raisin g over $3., 500 m illio n and he did that in s speech to the Amalgamated Metal Workers Union.

Now a w ealth tax i s one in which the value of a person's home, the belongings th at go in that home, the value o f a person's savings with a B uilding Society or a Savings Bank are a l l added together and each year you then pay a tax on th at, and i f you're a small

business and you don't have a very good year, hov7 do you pay it? Because i t 1s not a tax on p r o fits , i t ' s a tax on the value of what

yoxi own. I f you're a farmer, and you've had a bad drought year, how-do you pay it? By s e llin g a paddock? You've only ju st got to look a t i t to know how h o rrific such a tax-w^uld be.

Those o f us who s t i l l shudder at the thought of the Whitlam. years when in fla tio n got out of control, when wages sp ir a lle d , when Commonwealth Government expenditure rose by over 467, in one year,, and

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when ou).' income tax increased by 3.25% in three years, we need to remember th at Hr, Hayden has said that the things he’s outlined are more rad ical than what had been outlined up to 1972, ~

Only-a week ago, Senator Walsh from Western Australia - who’s a spokesman for the Labor Party on primary in du stries, was asked about the Labor Party re-introducing death duties. Is i t a fa c t, * . the in terview er sa id and Senator Walsh’s treply was J it · i s * ,

_ Blewettv.Xabor ’s spokesman on Health, stated that there would be . a return to Medi Bank.and that i t would be funded through taxation . .. Hr, Haydensummed it" a l l up whenhe feaid that he was prepared to back ': • j . ‘ ·· i „ · v · · . · · ‘ . ■ · - · . · -·.· - · ■ · · · ' · · " ; ··.-.···â– ;· ·.·.· ·.····· · · ■ " ' ‘ · · ·· · .·* · · · · , ' ·". .'

..JrVvhie -p o lic ie s with"the" firtn-pledge"that^ he'dimplementsthem in - three- ^ ^-j/y^hrs^^thevrfiief-itbree.y Labor-· Government - · · · > - .· . . ·' · ; · · '· .· ’ · · ‘ ·' · ‘ ' · · · " . . · -•v: ..;·.·· ■=·. .*·. .*·.··' ·"'· '· . · . . " ..···

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, , We. can fo r g e t the promises about a .tax cutv: That1 .s merely . designed ·, to g iv e some r e e p e c tib ility : to to ah otherwise "totally disreputable J: · economic package: j-x:. ': v , : \ ·'.... ... . .. ", . ; ' '

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I t ‘sJ ju st lik ^ feeding-somebody bread in :a quicksand, instead df :·.% ■ helping you: out the Australian-Labor ^Party by ith e ir p o lic ie s in ‘ ^ : th is e le c tio n ; would be making"it more comfortable for you- to go > ·â–  " ·'■ ·â–  ■ .·. .' '-V - ■ ' ..v:. . ■ · ■ -·:■ ·· ·..■ ■ "■ . .·â–  ·· ' ·â–  ■ ■ ' : · . - ■ ' · ■ . ■ ■ · . • u n d e r x v ...·.· .... ,·;.- ■ ·. · ■ · ■ · ·-·. .· -::■:.· · '

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The 'c h a llen g e to a l l o f u s, as .we go to .v o te-n e x t · S a tu r d a y /-is .'to.ovr :i" toake Jsu re; t h a t A u s tr a lia tddesxtiot: go under; to make sure th a t th e Jjxv.

: gains: th a t you’ve made over = the, la s t 'fiv e years -are b u ilt upon/.-to χ make-sure th at our secondary in d u stries ;·- our rural in d u stries - and : the mining in d u str ie s:: continue, to expand; fcuilding":hp :the::Wealth . and p rosp erity of -A ustralia - because that ’s the Way: we improve- the > v 7 ; liv in g standards o f Australian fam iliesV. That-s the way we provide ': ' ^ op p ortu n ities :for "Australian working men and women and that is" also:.;

the Way which .W ill Governments the. resources to p rovid e-all those v : programmes vfor .education,: for schools·,sfor.road.3V%ibf::hbspi.t:al8> 4.^;r.., a l l the th in gs th at : Governments.must vdo: i n -e modern so ciety ;> Without b uild ing a more prosperous and a w ealthier country we won't be. able J

to meet the asn iratlb ns of bur fam ilies and Governments won’t be able:

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to do the things th at they must.

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So I ask you to think about these things veryx-carefully .when:-ypu-:do"'4i>· .go to vote. on. October the 18th;;: l ask Ju st one-tbing ofxyou,,would you ρ 1 eas e ; when · you v o t e p l a c e your faflilly - and place A ustralia f i r s t B

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