A Little Less Conversation

23 Mar

Media Release – Senator Barnaby Joyce, 23 March 2010

The Finance Minister, Lindsay Tanner, today expressed concern that Australia has too many of its export eggs “in one basket.” Senator Barnaby Joyce today responded by noting that this mock concern comes from the same government that continues to borrow $1.5 to $2 billion a fortnight.

“Export industries, other than the mining sector, are being “crowded out” by the government’s reckless and wasteful stimulus spending. This spending puts upward pressure on interest rates, making it harder for exporting firms to access finance. We have seen four interest rate rises in six months.” Senator Joyce said.

“But also when the government is borrowing at this pace, others have to go offshore. This increases our foreign debt and puts upward pressure on our exchange rate. Our exchange rate has increased 30 per cent over the last year. This hurts industries like the tourism sector. Unemployment is 12.4% in Far North Queensland at the moment, where the tourism hub of Cairns once generated a lot of jobs.”

“If Mr Tanner wants to encourage export diversification he needs to engage in less talk and more action.”

Mr Tanner tried to point to the government’s policies to invest in infrastructure and increase productivity as the ways it is helping export industries.

“This is a government that doesn’t do a business plan on a $43 billion broadband network. How does it even know that these investments will increase productivity? And, Mr Tanner is also the Minister for Deregulation, but the COAG Reform Council showed earlier this month that progress on four out of eight competition reforms is stalled. This includes national transport reforms, which are crucial if our export industries can get their products to ports cheaply and quickly.”

More information- Jenny Swan 0438 578402

One Response to “A Little Less Conversation”

  1. Ted O'Brien March 24, 2010 at 2:31 pm #

    Does anyone remember the last time Lindsay Tanner’s call was the headline? Back in Gough Whitlam’s day they announced that Australia’s economy was too heavily dependent on agriculture. This was true, and the reason was that our bigger manufacturers were hobbled with Luddite work practices enforced by communist dominated unions. They believed that the bosses had a bottomless money barrel, never understanding that the bottom of the bosses’ money barrels was their own selves as they spent their pay packets.

    But who could have dreamt that both ALP and Liberals would see getting rid of agriculture as the solution to this problem, or that the Nationals leadership would just run along with the Liberals?

Comments are closed.

%d bloggers like this: