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Edition: U.S. Article Comments (1) Save Email Print Reprints Most Popular Most Shared South Korea president calls for reunification tax 15 Aug 2010 FOREX-Yen rises as high-yielders slip; eyes on govt, BOJ 15 Aug 2010 Republicans attack Obama over Muslim center comments 15 Aug 2010 U.S.-South Korea drills anger North, worry China 14 Aug 2010 No longer all in the family: Indian businesses step out 13 Aug 2010 Growth angst drifts back to U.S. shores 15 Aug 2010 UK Stocks -- Factors to watch on Aug 16 1:55am EDT UPDATE 1-Hong Kong property stocks down on tightening moves 15 Aug 2010 Japan growth slows amid worry about yen's climb 12:15am EDT FOREX-Yen up on talk of Japanese flows; eyes on govt, BOJ 1:45am EDT Best of the week 13 Aug 2010 Ramadan begins 12 Aug 2010 Republicans attack Obama over Muslim center comments 15 Aug 2010 Nikkei falls 0.6 pct as GDP data hits exporters 2:08am EDT Factbox: Australia economy key focus of election campaign 12:18am EDT Key Pink Floyd albums drop from digital market 13 Aug 2010 Pakistan gets respite from rains but aid flow is slow | Video 3:00am EDT Bank repossessions drive up July foreclosures 12 Aug 2010 Hundreds protest in Jakarta, urge religious freedom 15 Aug 2010 Judge allows JPMorgan overtime lawsuit to proceed 09 Dec 2008 Commentary Iraq, America and hired guns In the often perverse logic that has driven America’s war in Iraq, as U.S. soldiers are withdrawn the number of private security contractors is set to rise, writes Bernd Debusmann. Commentary Australia PM Gillard pins election hopes on economy Digg This Tweet This Share on LinkedIn Share on Facebook Factbox Policy differences ahead of Australian election 12:07am EDT Related News Profile: Australian PM Julia Gillard Sun, Aug 15 2010 Profile: Australia's conservative leader Tony Abbott 12:07am EDT Q+A: What a hung parliament would mean for Australia 12:12am EDT Related Topics World » Australia » Julia Gillard » Tony Abbott » Australia's Prime Minister Julia Gillard gestures at a news conference while campaigning in Melbourne August 6, 2010. Credit: Reuters/Mick Tsikas By James Grubel BRISBANE | Mon Aug 16, 2010 2:13am EDT BRISBANE Australia (Reuters) - Australian Prime Minister Julia Gillard staked her party's re-election bid on the economy's resilience, promising on Monday more jobs and less tax on business if she wins the tightest vote in nearly 50 years. If Labor were re-elected over conservative coalition opponents, Gillard said she would also return the budget to surplus by 2013 and improve education and health via a new A$43 billion ($38bln) national broadband network. "We emerged from this global economic crisis, the worst global economic shock since the Great Depression, we emerged stronger than any other major economy in the world," Gillard told a low-key official launch of party's campaign in the election battlefield city of Brisbane. "I want to put a priority on making sure that we do not see children inherit joblessness from their parents. A job is essential for a family's future, a strong economy is essential for a nation's future, I will build that strong economy." Gillard's center-left government, fighting to win a knife-edge election in five days, has a narrow lead in opinion polls over conservative opposition leader Tony Abbott. Labour party spokesman and Finance Minister Chris Bowen predicted the election would be the tightest vote the country had seen since 1961, with the result possibly unclear for days. "This will be tight, it will go down to the wire, it will be a long night," Bowen said. The election will decide the fate of the government's planned 30 percent mining tax on big iron ore and coal miners, such as BHP Billiton, Rio Tinto and Xstrata, and its plans for the broadband network, involving telcoms firm Telstra. Opposition leader Abbott, a combative former seminarian, has promised to abandon the profits-based mining tax and broadband network, as well the government's plans for a future carbon trading scheme to fight climate change. Gillard, arriving to a standing ovation and speaking without notes, stressed strong economic management and warned voters could not risk voting for Abbott, who she said was attacking spending while making promises worth A$1 billion a day. "I will not delay bringing the budget to surplus by one hour, by one day," Gillard said, mirroring U.S. President Barack Obama's "Yes, we can" slogan with a "Yes, we will" variation. "I am asking you... to say as you cast that vote, 'Yes, we will move forward with confidence and optimism, yes, we will show care and concern for each other'," she said. Australia, under Labor's leadership, dodged the global financial crisis bullet, as the only developed world economy not to fall into recession, thanks to an aggressive government spending, low interest rates, and demand for its mineral resources from China and India. Both parties have campaigned on relative austerity, but Gillard, in her speech, highlighted her health policy, promising rebates for rural patients and money for medical specialists to treat patients over the Internet. Kevin Rudd, the man Gillard replaced in a party coup in June, was also on hand as the party tries to neutralize voter anger in his marginal seat-packed home state of Queensland over the way he was dumped without completing one term as prime minister. The latest Reuters Poll Trend shows Labor marginally ahead, while a Newspoll poll published on Monday was the second in a few days which showed Labor with a lead over the opposition, although surveys have shown the lead changing hands frequently. Support for Labor was at 52 percent while the conservative coalition was also on 48 percent on a two-party preferred basis, the Newspoll survey in the Australian newspaper showed. Gillard retained a 15 percent lead in the preferred prime minister ratings, with 50 percent support to Abbott's 35, helped by a strong economy which has grown 4.3 percent since the start of 2008, amid the global credit crunch. Abbott, in a pitch to voters concerned about immigration and border security, said earlier that he would personally decide which asylum seeker boats would be turned away if he won, revisiting an issue that has helped swing past elections. Even if she wins, Gillard could be dealing with a difficult parliament with a much reduced Labor majority in the lower house. She will also face a Senate upper house as obstructive as the last, with the balance of power resting with the strengthened Greens with an environmental focus far tougher than Labor's. That will make Gillard's emissions trade scheme almost impossible to pass in a form enjoying wide business and investor support. ($1=A$1.12) (Writing by Rob Taylor in Canberra; Editing by Miral Fahmy) World Australia Julia Gillard Tony Abbott Comments See All Comments (1) | Post Comment Aug 15, 2010 10:43pm EDT Given Australia’s dependency as a raw materials supplier to China, a carbon tax on Australia’s most important industry would be an act of national suicide. roberto2002 Report As Abusive See All Comments (1) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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