Jj, AUSTRALIA,,J-

PRIME MINISTER

FOR MEDIA / S ^  SUNDAY , -  24 AUGUST , 1980

ELECTORATE TALK .

Last wee k ’s Budget continues the Government’s responsible  approach to economic management. It consolidates the gains  of the last five years and provides a blueprint for the  development of Australia in the. years ahead. Above all, it  maintains the fight against inflation.

Our main objective during our five years in office has been , to strengthen the. economic health of Australia and to provide ' the foundation for renewed economic growth. This has meant  an unrelenting fight against inflation, which has required .   hard decisions. Unlike Labor we have been - and are - willing  to face up to reality and take those decisions. .

The fact that this Budget will achieve a balanced domestic  position is a landmark in Australia’s economic recovery.  No  longer is Australia living beyond its means. We have paid off  Labor's debts. Â·

This Budget - the first of our Budgets for the 80s - squarely  faces up to the challenges that the decade will hold. Above  all, it provides a base for the continuing growth and expansion  of industry and for the development of our great natural  resources. It is essential that growth should open up .  Â·

opportunities for all Australians to share in these developments.  There is no merit in development for development's sake. But .   the reason my Government encourages development is that it .   enables more Australians to have lasting and decent jobs; it .

enables more families to pursue their own future in their own  way; it also gives Governments the resources to provide the  kind of care and concern for those people most in need. Let's not forget that Australia's greatest natural resource is

the people of Australia. There is simply no point in development  and growth unless all sections of the community, particularly  the disadvantaged, the handicapped, the elderly, the young  and the sick, are able to share in its benefits. .

We believe that together with voluntary organisations, Governments  have an obligation to help those least able to help themselves.  Almost $10,000 million is earmarked this year for social security  and welfare programmes. This is a 12.4 per cent increase over .

last year. .  .  .

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Some of the increased welfare payments in this year's Budget  include: Â· . Â·

- the handicapped child's allowance will be increased by  $8 to. $73 a month. The double orphan's pension will be  increased by $8 to over $55 a month;

- the additional pension or benefit payable to eligible  .  persons with dependent, children will be increased by $2.50 to $10.00 a week for each child. About 560,000  children will benefit as a result; '

- single pensioners with children and supporting -  .

parent beneficiaries will receive an additional $2 a week. . .   About 190,000 single parent families will benefit, ~

.  - the six month waiting period for the supporting parent's .  benefit will be removed, providing benefits for an  .  additional 15,000 or more supporting parents. .

As we all know, Australia is to the forefront in many areas of  science and medicine. Our researchers have achieved the. highest^-  levels of excellence and international recognition.... We believed;  that there was a. need to encourage further that outstanding  work. To meet that need, Budget outlays for medical research  were increased by 30%, and the allocation for the Australian .  Â·\

Institute of Marine Science has been increased by over 50%. Here we had particular regard to the obligations in relation to  the Great Barrier Reef and to the need to learn more about the .

200 mile economic zone which is of such importance to us.

The Budget was framed in a period of heightened world tension. Soviet power play around the world has meant an. increased,  obligation on Australia as an independent and middle-ranking Â· power - and indeed on all democratic countries - to upgrade  our defence preparedness. We have increased defence spending  by over $500 million, or 7% in real terms. Much of this .

increased vote will, be spent in Australia on purchases and  equipment made within Australia. Our objective is. to lift ' capital equipment expenditure to about 25% of the total defence  budget. .  '  .

While these funds would have had to be provided for defence  in any case, the increased Government revenues from our oil .  "

pricing policy have certainly assisted us in meeting this .

particular .objective. In addition, those revenues are also .

making possible the tax cuts of over $600 million which applied .   from 1 July this year, and which is very much an integral part  of our total budgetary approach. The oil revenues also  assisted in helping us to reduce the deficit. These are three

important objectives. .  .

The 1980-81 Budget demonstrates our integrity as economic '  .

m a n agers. We have refused to enter into a public auction for  votes with the taxpayers' money. There is no way we will follow .

Labor down that path.

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This is a Budget of responsibility; a Budget of stability;  a Budget which enables all Australians to be confident in  their individual and national capacityÂ· And, above all, it is  a Budget of compassion and concern; a Budget which promotes  the economic health and continuing economic strength of this  country. It will further assist in making our economy the  envy, of many around the world. It is a Budget in which, I  believe, we have discharged our responsibilities to all  Australians with fairness and with honour.

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