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We are very much aware that the great progress we have made in the last three years—the unprecedented economic growth, the low inflation, the lowest level of strikes since 1940, the huge growth in jobs, the growth in exports and productivity—has not translated automatically into material benefits, or a greater sense of security among many Australians. But that is not an argument for throwing out the policies which have given us strikingly good results.

The issue for the 1990s is the renewal of Australia—of family life, of economic institutions, of the right of choice, of Australian society itself. We have the vision, the ability, and the strength to take Australia through the next decade and into the next century. Australia’s problems are too complex to be solved overnight. But with determination and courage they can be solved.

Tonight we open what is probably the most momentous campaign in the history of this country since Federation. For nearly 30 years Australia has been writing history as a nation, and no one will deny that one of the proudest pages in our book of nationhood is that which deals with the building up of our Federal system of arbitration.

Tax reform is fundamentally important to what we’ve got to do in Australia. It’s fundamentally important to developing the productive culture that we need in Australia, it’s fundamentally important, not only to get people to work harder, to work overtime, to save, to build a business. Tax reform is absolutely fundamental.

This is a vital election. The Menzies Government knows that, if it waits until next year, it will be defeated. The result of its mismanagement of the economy cannot be avoided for much longer. So this Government had decided that the people will be pit to the expense of an early election– the fifth Federal election in six years.

Here then is a record of achievement, of purpose, yet it is a record of a government which has been in office a mere 17 months. It is a record of a government which came into office after 23 unbroken years of power held by our opponents, 23 years of decay and neglect. It is a record of a government which had to overcome unparallelled obstruction in a Senate in which it was in a minority. This was our legacy in 1972—23 years of our opponents’ mistakes and a hostile Senate. We have lived with the past; and we have overcome the past, the record shows it.

We affirm for every man the right to receive a fair return for his labour, enterprise and initiative. But we do say that it is the duty and the responsibility of the community, and particularly those more fortunately placed, to see that our less fortunate fellow-citizens are protected from those shafts of fate which leave them helpless and without hope. That is the objective for which we are striving. It is, as I have said before, the beacon, the light on the hill, to which our eyes are always turned and to which our efforts are always directed.

We work and fight, not for personal gain, but that our fellow-citizens may labour under good and ever-improving standards and conditions, free from want, insecurity and misery.