The Gillard Government remains committed to strong, stable and responsible economic management that will underpin confidence, create jobs and provide certainty to businesses and I am today honoured to be given the opportunity to implement this agenda as Australias Minister for Finance and Deregulation.
Australias economy is the envy of the world, with an unemployment rate amongst the lowest in the developed world and our public finances amongst the strongest.
We have weathered the greatest economic crisis since the Great Depression.
Delivering enduring and lasting gains to the Australian people means a disciplined and focused Budget.
I look forward to working with Treasurer Wayne Swan to ensure the Budget returns to surplus three years ahead of schedule in 2012-13, comfortably ahead of every major advanced economy.
This includes holding real growth in spending to 2 per cent a year until the Budget returns to surplus and a commitment to build stronger government finances.
During the election campaign, the Government showed its strong economic management by fully offsetting all of our commitments over the forward estimates, ensuring not a single cent was added to the overall budget bottom line.
As Finance Minister, the focus of the Governments fiscal strategy in future years will be to build stronger government finances, and this will involve taking tough decisions.
I commend the work of the outgoing Minister for Finance, Lindsay Tanner. Mr Tanner has been an outstanding member of the Governments economic team, and of the wider Labor team. He played a key role in helping to protect Australias economy during the global financial crisis and implementing microeconomic reform. I am pleased to welcome Mr Tanners chief of staff, Anthony Baker, who will continue in the role.
I also today congratulate Greg Combet on his elevation to the Cabinet as Minister for Climate Change and Energy Efficiency. Greg and I have worked closely together in the past year to pursue action on climate change. He is a highly competent Minister and well placed to lead the Climate Change Committee process, due to his thorough understanding of the issue and his well-known negotiating skills.
The Australian people have made clear that they want this Government to govern in their best interests, and that they will hold this Government to higher expectations of transparency and reform.
This Government will work to unite the Australian people behind our economic plan to strengthen Australias economy.
I look forward to working with the Prime Minister, Deputy Prime Minister and the new Ministry, the independents and minor parties and the Australian people to deliver this.