We want to ensure that we deliver an average rate of inflation in Australia of between 2 and 3 per cent over time. It is in the public interest that we do this. It is also in the public interest that we pursue this objective in a way that promotes good employment outcomes for the country and preserves financial stability.
It is necessary to act on two fronts: to ensure the consolidation of the public finances and to implement the long-awaited reforms that will enable our economy to be an active partner in the world economic recovery. The measures reducing current expenditure must be introduced into legislation immediately, even if the effects are deferred, not put off to further legislative acts or administrative decisions.