Message
on the G20
02 November 2014
In just under two weeks, the
leaders of the G20 will assemble in Brisbane.
This will be the largest ever
gathering of world leaders in our history, and it is the culmination of
Australia’s presidency of the G20.
The G20 is the world’s most important
economic forum.
The countries of the G20 generate
75 per cent of all world trade and 85 per cent of the world’s Gross Domestic
Product.
At this G20 Summit, our focus
will be on building a stronger world economy.
Because economic growth means
more jobs, higher living standards and governments that are better able to
reduce tax and fund better services.
Australia has already secured an
agreement that G20 countries will aim to boost their collective economic growth
by 2 per cent above what is currently expected over the next five years.
Countries have been working on
their action plans and collectively, we have already reached 90 per cent of our
growth target.
Australia is leading by example
with our Economic Action Strategy – scrapping the carbon tax and the mining
tax, cutting red tape costs, signing free trade agreements and undertaking the
largest infrastructure investment in our history.
The G20 focus will be on the
fundamentals of the economy: trade, infrastructure, tax and banking.
Our discussions will include the
$1 trillion world-wide infrastructure gap, reducing tax avoidance by global
companies, and increasing participation in the workforce.
While a stronger economy won’t
solve every problem; it will make almost every problem easier to tackle.
So it’s an honour to be hosting
the G20.
I know there will be
inconveniences in Brisbane as the leaders gather and I thank people for their
patience.
It is an important event for
Australia. I’m confident that it will make a lasting difference for our country
and for our world. |
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