Aspiration and reward will spearhead Liberal Party’s comeback
Australia is heading in the wrong direction and can only be saved by a values-led and future-focused Liberal Party that puts a strong economy at the centre of its agenda.
Despite the federal election granting the Albanese government another three years and a sizeable majority, Australians know instinctively that things aren’t going well.
Amid a volatile global economy and heightened geostrategic uncertainties, Australia is becoming poorer, weaker and more dependent. Labor can’t address these challenges because the policies it took to the election will only make the situation worse. Responsibility therefore lies with the Liberal Party, but first we ourselves must rebuild.
As I have reflected on how I can contribute to that rebuild, the advice my father gave me as a schoolboy running on to the rugby field has come to mind.
“Run straight and tackle hard, my son.” Over the years, I have adopted that piece of fatherly advice as a guiding principle for meeting challenges far beyond the sporting arena.
To run straight is to know where you want to go and to run with conviction. And to tackle hard is to possess the courage to confront opponents head-on.
Growing up the youngest of nine children was the perfect training ground for running straight and tackling hard. As a little one I’d either be put on the kitchen table or get up there myself to be heard. A big family teaches you humility and the importance of teamwork.
These are characteristics I intend to bring to my role as deputy leader of the opposition and shadow treasurer – alongside two decades in business, economic training, and leadership experience.
And what will drive me is the reason I entered politics in the first place: a love of country and a burning desire to ensure future generations – my three children and their peers – inherit an Australia that is prosperous, strong and fiercely independent.
I believe the Liberal Party’s highest priority is to build a stronger economy – one that is highly competitive and productive, and free from excessive government-imposed costs and complexities impacting energy, industrial relations, taxation, regulation and red tape.
Determining detailed policies in these areas is something the Coalition will take the time to get right. But on some things, we can already be clear – like the need to restore the discipline of fiscal responsibility.
Gross debt will hit $1 trillion over the coming year and Labor’s plan is for a decade of deficits. This will leave future generations with fewer options to combat financial crises, unexpected economic shocks or even war.
No parent in their right mind would go on a spending spree using their child’s credit card but this is what Labor is doing to our nation, and we hardly ever talk about it.
We also need greater ambition for Australia’s economy; a focus on growing the pie, not dividing it.
Capital expenditure in the non-mining sectors has fallen by 1.6 per cent in just one year. This doesn’t bode well for turning around productivity, which has declined by 5.7 per cent under Labor.
To think the Treasurer’s first priority in this term of government is to repel productive investment by breaching a red line in tax law – the taxation of unrealised capital gains – is madness.
The Liberal Party has always stood for a strong economy, but not as the end game. A strong economy is the means by which individuals can realise their dreams, families can get ahead, communities can thrive, businesses can grow, and new ideas and start-ups can take flight.
A strong economy is what funds our hospitals and schools, pays for our doctors and nurses, supports police and teachers, and builds the roads, rail and airports that connect us. It is what keeps our nation safe and our borders secure.
Since our founding under Robert Menzies, we have stood for government that empowers, not controls. We believe in aspiration, and reward for effort.
We believe in freedom of opportunity, speech, religion and association, and that every Australian is equal and deserves a fair go. These are fundamental rights of every Australian, but they come with commensurate responsibilities. These values are Liberal values. What’s more, they are Australian values.
But we must be honest. Some of the policies we took to the last election were inconsistent with our values – opposing tax cuts, for example.
As we now rebuild the Liberal Party, we will listen to the Australian people before formulating policies with a clear line of sight to the values from which they are derived.
What’s at stake is bigger than the Liberal Party – it’s the future of Australia.
Ted O’Brien is deputy Liberal leader.
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