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Tuesday, 25 May 1993
Page: 1150

Senator BJELKE-PETERSEN —I give notice that, on the next day of sitting, I shall move:

  That the Senate—

  (a)expresses its profound disappointment that, due to the irresponsible mishandling of the economy, national savings have fallen by $5 billion in 1992, with a $850 million fall in the December quarter alone;

  (b)acknowledges that a combination of record unemployment and stagnant household incomes has resulted in a `catch 22' situation for wage and salary earners who are reluctant to spend, and yet are unable to register significant savings; and

  (c)calls on the Government to concentrate all its efforts on stabilising Australia's economy and encouraging growth through initiatives which will help the private sector to regain some confidence and, therefore, create greater employment opportunities.