Global Economic Crisis: What is it?
The global financial system is experiencing its most significant upheaval since the Great Depression. More than 25 banks around the world have failed or been bailed out. Global stock markets have suffered significant losses. Europe and the United States are on the brink of recession and we have the unusual situation where nation states themselves have declared themselves bankrupt.
How did the economy take such a bad turn? How did we get to this point?
Early and Decisive Action for Australia: the Economic Security Strategy The global economic crisis that confronts the nation is the worst financial crisis of our lifetime. Across the globe 25 banks have failed or have had to be bailed out and the US and Europe are on the brink of recession. Australia's economy is strong. Our banks are among the best regulated, with the best balance sheets, in the world. In fact just two weeks ago our banks were rated as coming second out of 134 banks worldwide.
Despite its strength the Australian economy is not immune from the global slowdown and the real possibility of a global recession. History has shown that when the economy slows responsible governments step in. The Prime Minister is determined to protect Australia from the economic turbulence confronting many economies overseas. That is why the Rudd Government has announced a $10.4 billion Economic Security Strategy to stimulate our economy and protect vulnerable groups from the economic slowdown.
ESS: How do you benefit? How do you benefit under the Economic Security Strategy? MORE >>
'The Balkanisation of Risk': PM Rudd
This is an extract from the Prime Minister Kevin Rudd's Address to the National Press Club. For a copy of the full speech click here.
Last year, in my formal reply to the last Budget of the Howard Government, I referred to a great remark from a great American President, John F. Kennedy.Speaking at a time of unprecedented American prosperity, President Kennedy said: "the time to fix the roof is when the sun is shining". And I said back then the sun was shining on Australia.
Back then, because of an unprecedented global economic boom, the sun had been shining on Australia for the better part of a decade. MORE >>
Compact Consultations draw to a close
Late this month what has been a significant period of consultations on a National Compact between the Federal Government and the non-profit sector drew to a close. ACOSS, in conjunction with the Government which commissioned the organisation to conduct initial consultations on the compact, wrapped up a lengthy consultation session which saw consultations held in all major capital cities across the country. These sessions gathered constructive and genuine feedback from the sector on the possible make up of a National Compact, feedback which the Government currently considering as it considers the next step.
Calling for input to the National Disability Strategy  The Minister for Families, Housing, Community Services and Indigenous Affairs Jenny Macklin and Parliamentary Secretary for Disabilities and Children's Services Bill Shorten have launched a discussion paper on the National Disability Strategy and called for input from the public.
The National Disability Strategy is an election commitment of the Rudd Government to address the barriers faced by persons with a disability and to promote social inclusion. It will be an important mechanism in ensuring the principles of the United Nations Convention on the Rights of Persons with Disabilities are integrated into policies and programs affecting people with disability, their families and carers.
The Strategy will be developed in close consultation with the Australian community, disability and carer peak bodies, employers, industry experts and state and territory governments. A series of public consultations will be held across the nation, starting in Darwin on the 27 October and finishing in Canberra on the 26 November. This will ensure that Australians across the nation have an opportunity to provide input and feedback.
It's About People: a new approach needed for drought policy  We need to accept that the fact that dryer weather is here to stay and future government policy should focus on facilitating the social wellbeing of farm families, rural businesses and communities to improve their capacity to live with extended drought. These are the key findings of a report into the social impact of the drought entitled Its about people: Changing Perspectives on Dryness.
The report was compiled by an expert panel who conducted a month of hearings in rural Australia, drew on expert evidence and other sources to provide a comprehensive report into the way that the extended drought was affecting rural and regional communities and farming families. The report forms part of a three stage review process of a drought support which includes reports from the CSIRO and the Productivity Commission. The CSIRO report delivered the disturbing conclusion that droughts could occur twice as often and the events will be twice as severe within 20 to 30 years.
Your ABC - Securing the independence of our national broadcasters There is little doubt that the former Howard Government treated the independence and integrity of our ABC with contempt and disregard. Blatant political appointments to the ABC's board, crippling funding cuts and the abolishing of posts like the staff appointed board member revealed a political agenda to intimidate Aunty and jeapordise its independence.
The Rudd Government believes that the ABC (and its fellow public broadcaster) SBS are two of Australia’s most important and loved public institutions. They have entertained, educated and informed generations of Australians. We believe that it is incumbent on all of us to ensure that our national broadcasters are best placed to meet future opportunities and challenges.
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