Tony Abbott Says Coalition to Ramp up Economic Dev't

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By Erik Pineda | November 22, 2012 5:58 PM EST

Opposition Leader Tony Abbott envisions a government with sound fiscal policies and more focused in engaging with its immediate neighbours in the Asia-Pacific region, that is if he becomes Australia's next leader.

In case of a win in next year's federal election, his Coalition government would implement federal spending that is governed by a strict budget plan and encourage more investments and business activities through minimal regulatory interventions, Mr Abbot said on Thursday in a business gathering held in Perth.

"I would like to be, should I get the chance, a prime minister that revels in seeing cranes over our cities, who revels seeing bulldozers at work and who revels in seeing water coming from where it flows to where it's needed," the Coalition leader was reported by the Australian Associated Press (AAP) as saying in his speech.

A government that he leads, Mr Abbott said, will fully-embrace policies that lead to further economic prosperity because in such state, more leeway is available for Australia to become a stronger nation in the years and decades ahead.

"If we keep our economy strong we will be able to afford the military hardware, the armed forces that we need to play our part in defending our country and in working with our allies towards a better world," the Liberal leader said.

But he admitted that the fiscal situation that a Coalition government will inherit from Labor is far from ideal that initially his hands would be tied a bit, which means there will be policies he pledged that will be sidelined for the time being.

However, Mr Abbott has assured that "we will restore the policies we know will work ... (such as) support for private health insurance."

"So there are lots of things a Coalition government would like to do, but the fiscal reality is we won't be able to do all of them straight away," Mr Abbott conceded.

Setting these concerns aside, the Liberal leader said that abolishing the mining tax and carbon tax remains one of the top priorities of his government, explaining that "there is no country on earth that has ever taxed its way to prosperity."

"These two taxes which impact so disproportionately on a resource-rich, energy-intensive state as this one will be gone," Mr Abbott vowed.

In their stead, the Coalition will work hard to create more jobs, address labour and workplace issues, increase productivity and lay down the framework for the return of the Australian Building and Construction Commission.

The Abbott Government will build a general economic environment that would submit all actors - labour union officials and business executives - equally answerable to the rule of law, the opposition leader said.

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