Home » Editorial: confidence vital to overcoming GFC

Editorial: confidence vital to overcoming GFC

On 25 June some 400 Mayors and Shire Presidents accepted the Prime Minister’s invitation to meet at Parliament House for the second plenary meeting of the Australian Council of Local Government (ACLG).

The significance of holding the ACLG meetings at Parliament House on a sitting day – providing direct contact with Cabinet Ministers and other MPs – has not been lost on Local Government.

The assembled Local Government leaders received detailed briefings from both Prime Minister Kevin Rudd and Treasury Secretary Ken Henry on how Australia is tracking in the current global economic climate.

The Prime Minister stressed the importance of the new partnership his Government is forging with Local Government as part of its ‘nation building for recovery’, and the briefings provided certainly reinforced the Government’s seriousness about its partnership with Local Government.

The PM told delegates that the impact of the global recession is local – affecting local families and local jobs – but he said as nation we will only make it through these tough times if we work together.

In spite of this being the worst global collapse in 75 years, and with eight out of ten of our major trading partners now in recession, he was emphatic that Australia is definitely holding its own.

Presenting a series of graphs on recently released OECD figures covering the March 2009 quarter, Kevin Rudd showed that Australia recorded the fastest growth. Only three of the 33 OECD nations had positive growth and Australia was one of these. In addition we had the second lowest unemployment level, the lowest net debt, and the lowest deficit across these advanced economies.

He said that the Government’s stimulus packages and investment in infrastructure are making a difference, with the multiplier effect critical for increased business and consumer confidence.

In his summing up at the ACLG meeting, Minister for Infrastructure, Transport, Regional Development and Local Government Anthony Albanese urged Local Government leaders to take the high level briefings they were given back to their communities and business leaders. He said confidence is a vital factor and one of the reasons why Australia did not slip into recession on 2 June.

So over to you to talk up good news and build confidence on how we are tracking – your localities are depending on it.

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