G20 won’t be a talkfest: Australian PM

PTI Sydney | Updated on November 23, 2017 Published on December 02, 2013

A file photo of Australian Prime Minister, Tony Abbott.   -  Wikipedia

Australian Prime Minister Tony Abbott pledged today that the G20 under Australian leadership will be focused on boosting economic growth and said he is determined that the grouping will not be a “talkfest’’.

Australia took over the chairmanship of the group that brings together the world’s top economies yesterday and stages the annual summit in Brisbane next November.

“I am determined the G20 won’t be a talkfest,” Abbott wrote in The Australian newspaper. “It must be practical and focused.

“Our actions in Brisbane will be focused on removing the international impediments to trade, jobs and growth and identifying the real solutions to issues such as lifting workforce participation rates and funding infrastructure.”

The straight-talking Prime Minister pointed out that Australia, the 12th largest economy in the world, “is currently in its 22nd consecutive year of growth’’.

Free trade agreements

Abbott outlined his Government’s effort to fast-track free trade agreements with South Korea, Japan, China, Indonesia and India to help spur growth.

“A stronger world economy means more jobs, more confidence and more tax revenue that can be used to pay down debt,” he said.

“This is what we must work towards. The G20 demonstrated its dynamism and strength during the GFC (global financial crisis). The challenge is to be relevant when there is no immediate crisis to deal with.”

Infrastructure investment

He said one area of focus would be infrastructure.

“The world needs more infrastructure investment because building infrastructure drives growth and makes economies more productive in the longer term,” he said.

“We need to encourage greater private-sector involvement and help capital markets better channel global savings to productive investments.”

In the run-up to the G20 summit, Australia hosts meetings of the forum’s finance ministers and central bank chiefs in Sydney in February and in Cairns in September.

Published on December 02, 2013

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!


Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.