CCTV.com - CNTV English - CCTV News

Australian PM says to return budget to surplus in 3 years

07-15-2010 14:28 BJT

CANBERRA, July 15 (Xinhua) -- Australian Prime Minister Julia Gillard reiterated her government's intention to return the budget to surplus in three years' time, when addressing the National Press Club in Canberra on Thursday.

Gillard said that anyone expecting a "spend-up" election campaign from Labor Party can forget it, adding that the government would sustain the discipline it had brought to the budget throughout an election campaign.

"Any commitments made in the upcoming campaign will not add a single cent, not a cent, to the budget bottom line," she said in her first speech as prime minister to the National Press Club.

Lifting productivity was crucial to the nation's future, Gillard said, adding that improving education standards would play a key role in Labor's second term agenda.

Gillard said she would hold fast to Labor policy on issues of macroeconomic management. "Once the budget returns to surplus we will still maintain spending constraint until we deliver strong surpluses of 1 percent of Gross Domestics Product (GDP)."

The prime minister promised the government would remain committed to an inflation goal between 2 percent and 3 percent, saying it was the responsible approach to macroeconomic management.

Editor:Jin Lin |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program