Opposition promises safeguard fund on the economy amid global economic uncertainty

ABC NEWS (Australia)

The opposition leader Peter Dutton is back in Melbourne today and has spent time at a laser cutting business. While once again focusing on the economy.

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00:00Opposition leader Peter Dutton has been warning that Australia faces great uncertainty as the

00:07global trading order reshapes around US President Donald Trump's tariffs. The coalition has

00:13already been demanding daily briefings from Treasury and government on the status of the

00:18economy, with the coalition saying it needs to be ready to respond quickly to a potential

00:23economic downturn if it wins the May 3 poll. But opposition leader Peter Dutton here this

00:28morning in Aston, a seat the coalition is confident it can pick up, isn't waiting for May 3 to begin

00:35making announcements on what the coalition would do to safeguard the economy. Peter Dutton detailing

00:41a new future fund that would help to reinstate guardrails in the federal budget paid for using

00:48any economic windfall from commodities which would be held in reserve and only allowed to be

00:54drawn down on in an emergency and the coalition would introduce legislation to ensure that money

01:01is safeguarded. Opposition leader Peter Dutton saying this morning his government would be

01:07prepared to take action to protect the economy. Our plan is to manage the economy well as coalition

01:14governments always do and it allows us to pay down Labor's debt over time so that we don't have that

01:21huge interest bill and it also allows us of course to give back to regional Australians.

01:26This morning opposition leader Peter Dutton and the Prime Minister Anthony Albanese received a letter

01:31from 20 of the nation's most powerful business groups urging the parties to put business on the

01:37agenda saying Australia needs to be made a more attractive place for investment to help cushion it

01:42from any economic blows. That letter was sent from representatives of several sectors including

01:49tourism, farming, energy, retail and several others making mention of the 143 billion dollars in company tax

01:58those businesses paid last year alone. Mr Dutton here in the seat of Aston said his plan to lower gas prices

02:08by forcing gas giants to divert more supply into the domestic economy would help to bring down power

02:14prices at businesses like this laser-cutting one but business groups urging more structural reform to

02:21the budget to ensure a long-term growth and in particular productivity gains be ensured. Mr Dutton has made

02:31three visits to Melbourne so far this campaign it's an area that he will have to win big to have any

02:37chance of forming government on the May 3 poll.

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