Prime Minister Touts Economic Gains as Inflation Drops to 2.1 Percent
Australian leader cites falling interest rates, rising wages during Brisbane appearance
Prime Minister Anthony Albanese declared Australia's economic performance "the envy of the Western world" Tuesday, citing inflation that has dropped to 2.1 percent and unemployment holding steady at 4.3 percent during a wide-ranging press conference at the Royal Queensland Show.
Speaking to reporters, Albanese highlighted what he called dramatic improvements since his Labor government took office, contrasting current conditions with inherited economic challenges.
"The fact is that we inherited a position where inflation was at 6%, real wages were falling, interest rates had begun to increase," Albanese said. "Now what we have is inflation down to 2.1%. Unemployment is relatively low at 4.3%. We have interest rates that yesterday decreased for the third time this year. And we have real wages increasing."
The prime minister attributed the economic turnaround to "the hard work that Australians have been producing" and suggested it contributed to his recent re-election for a second term.
Gaza Policy Remains Firm on Hamas Exclusion
Albanese also used the appearance to reinforce Australia's position on the Gaza conflict, stating unequivocally that Hamas would be excluded from any future Palestinian governance structure.
"We exclude terrorists. We exclude Hamas, very clearly," Albanese said when asked about democratic outcomes in Gaza. "The Arab League have made it very clear that Hamas must lay down its weapons. The international community have made it very clear that Hamas will have no role in a future Palestinian state."
The prime minister defended Australia's move to recognize Palestine, dismissing concerns it might affect relations with the United States under President Donald Trump's administration.
"President Trump has been an advocate for peace in the Middle East and indeed is characterised by being an advocate for peace around the world," Albanese said. "And this is an opportunity that the international community are saying very clearly, enough is enough."
Albanese reaffirmed Australia's commitment to a two-state solution, describing it as longstanding bipartisan policy dating back to United Nations decisions in 1947.
"In order for Palestinians to be able to satisfy their legitimate aspirations for their own state, Israel must be assured of security as well, and that is what the world is working towards," he said.
Manufacturing Push Faces Queensland Setback
The prime minister expressed regret over Queensland's withdrawal from a joint battery manufacturing initiative, calling it a missed opportunity for local production.
"The former Queensland government committed to spending, I think, about $100 million jointly with your government to set up an Australian battery industrialisation centre. The current government has pulled out of that," Albanese said. "They've made their decision. I think it's one that we regret."
Despite the setback, Albanese emphasized his government's commitment to domestic manufacturing, citing successful examples including train production in Maryborough.
"The factory producing trains there at Maryborough down at EDI has gone gangbusters since the former government here in Queensland decided to stop the outsourcing of trains," he said.
The prime minister criticized past outsourcing decisions, referencing problematic overseas-built infrastructure projects.
"You know, we need to make more things here in Australia," Albanese said, mentioning trains that couldn't fit stations and ferries with dangerous design flaws. "I want things made here. And here in Queensland, I want more manufacturing, more jobs to be created here."
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Trump Meeting Possibility at UN Assembly
Albanese confirmed his openness to meeting with President Trump during the upcoming United Nations General Assembly in New York.
"Look, I'm available for a meeting with President Trump at very short notice at any time," Albanese said. "We'll continue to engage. We're engaged with our American colleagues on a ministerial level, and I've been engaged in constructive discussions with President Trump."
The prime minister described previous interactions with Trump as positive, referencing three "very warm and cordial discussions" and appreciating Trump's public comments following Albanese's re-election.
"He gave me a very warm phone conversation after my re-election as Prime Minister and made some public comments about what he thought that were very generous, and I thank him for it," Albanese said.
Quad Summit Support for Brisbane
Albanese endorsed Queensland Premier David Crisafulli's proposal to host a Quad summit meeting in Brisbane, seeing it as an opportunity to showcase the city ahead of the 2032 Olympics.
"I think David Crisafulli has pitched up very strongly, and I support his argument," Albanese said. "I think in the lead-up to Brisbane 2032, it is an opportunity to showcase this great global city to the world."
The Quad grouping brings together Australia, the United States, Japan and India for discussions on regional security and economic cooperation.
"It attracts thousands of people, not just the four leaders, but it also attracts great international attention," Albanese said. "And I want to showcase this great state of Queensland to the world particularly in the lead-up to Brisbane 2032."
Work Week Proposals Draw Cautious Response
When questioned about union proposals for reduced working hours, Albanese maintained his government had no plans for changes while acknowledging the appeal of shorter work weeks.
"I wouldn't mind a six-day and 23-hour workweek myself, rather than 24-7," Albanese said. "I think a lot of people would like to have a five-day working week."
However, he emphasized that union proposals don't automatically become government policy.
"The ACTU, of course, is entitled to put forward whatever ideas it likes. But that doesn't mean, as I've said, that it's government policy because someone put forward an idea," he said.
Protest Management Deferred to States
Regarding upcoming protests planned for Brisbane's Story Bridge, Albanese declined to comment on specific crowd management decisions, deferring to state authorities.
"I don't speak on behalf of Queensland Police. I'll allow them to do their job," he said. "I'm not going to comment on every specific protest and what the rules are. Those things are worked out by state governments."
Policy Development Through Community Engagement
The prime minister highlighted his government's approach to policy development through community consultation, using renewable energy initiatives as an example.
"This is an example of something that's been developed in partnership with the community. The community have been saying, well, I've got solar panels, but I can't afford a battery. OK, we'll make it a little bit easier," Albanese said.
He emphasized the value of broad stakeholder engagement in developing effective policies.
"What this is about is an opportunity for business, unions and civil society to put forward ideas. Ideas are good. Engagement is good and dialogue is good and public debate and discourse is good as well," he said.
The press conference, held during Albanese's visit to the Royal Queensland Show, covered domestic economic policy, international relations and regional development priorities as the government prepares for continued engagement with international partners and domestic stakeholders on multiple fronts.
The economic figures cited by the prime minister represent significant improvements from conditions when Labor took office, though independent verification of the comparative data was not immediately available during the press conference.
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