The West

Abbott addresses World Economic Forum

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Tony Abbott has delivered the key note address at the World Economic Forum.

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Prime Minister Abbott has delivered the keynote address at the World Economic Forum, saying Australia is open for Business.

In a wide-ranging speech, Mr Abbott outlined his plan to build on Australia's economy and the need for countries to engage in freer trade.

It was an optimistic Tony Abbott who addressed the world economic forum in Davos, noting that the economies of the United States and Europe continue to recover from the ravages of the global financial crisis that began in 2008.

The challenge everywhere is to promote sustainable private sector-led growth and employment and to avoid government-knows-best action for action sake.

Mr Abbott believes prosperity must be driven by freer trade and smaller government.

No country has ever taxed or subsidised its way to prosperity.

You don't address debt and deficit with yet more debt and deficit and profit is not a dirty word because success in business is something to be proud of.

He said in the decade prior to the GFC Coalition governments had made Australia one of the world's best performing economies and on such a big stage, he couldn't resist a dig at his Labor opponents.

Then.

.

.

a subsequent government decided that the crisis had changed the rules and that we should spend our way to prosperity.

Well, the reason for spending soon passed, but the spending didn't stop.

He told the audience that Australia is under a new management and open for business and as chair of the G20 this year, is in a unique position to promote global growth.

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