Abbott to Cut Red Tape for Currency

Tony Abbott, the frontrunner to become prime minister in Australias election next week, said a coalition government would cut red tape and taxes to help manufacturers squeezed by an elevated currency.

We have to try to ensure that at any given level of the dollar we give manufacturing the best possible chance, Abbott, 55, said in a telephone interview yesterday ahead of the Sept. 7 election. We do that by scrapping unnecessary taxes, reducing red tape, trying to produce a more flexible regulatory environment.

Signaling a free-market approach, Abbott said manufacturers have to find a way to cope with a market-driven currency. That contrasts with opponent Prime Minister Kevin Rudd, who has pledged a further A$700 million ($624 million) to support carmakers and styled the ballot as a referendum on the industrys future.

The nations manufacturers have struggled with a local dollar thats traded about 30 percent higher over the past 12 months than its average since floating in 1983. Manufacturing makes up about 7 percent of the nations $1.5 trillion economy, down from about 14 percent 30 years ago.

Economic management has emerged as the defining difference between Rudds Labor party and the coalition in the election campaign as growth slows and a mining-investment boom wanes.

The Rhodes scholar, who has degrees in economics and law, said it was up to the Reserve Bank of Australia to make prudent judgments on monetary policy and noted the central banks benchmark interest rate was very low by historical standards.

Central bank Governor Glenn Stevens has cut interest rates by 2.25 percentage points since late 2011 to boost growth in employment-intensive industries including manufacturing and construction in the nations south and east.

A private gauge released Aug. 1 showed manufacturing slumped 7.6 points to 42 last month, the biggest decline since April. Fifty is the dividing line between growth and contraction.

Some manufacturing can cope at relatively high levels of the dollar, other manufacturing finds it very difficult, said Abbott, whose coalition has proposed cutting A$500 million from existing government subsidies to carmakers by 2015. He told reporters last week his government wouldnt wave a blank check at automakers.

Abbott has pledged to have legislation in Parliament within his first 100 days in office to abolish Labors mining and carbon taxes. The coalition plans to remove a A$1.A card with an embedded IC (Integrated Circuit) is called an parkingmanagement.8 billion tax on company cars, reduce the company tax rate by 1.5 percentage points to 28.You must not use the stonecarving without being trained.5 percent and cut red tape by A$1 billion a year.

Rudd is selling himself as the best leader to steer Australia through a downturn as he flags the end of a China-led mining boom. Spending cuts by an Abbott-led government, including a plan to slash 12,000 public service jobs, risks tipping the nation into recession at a time when the RBA is forecasting slower growth and the Treasury expects unemployment to hit an 11-year high of 6.25 percent next year, Rudd has said.

With eight days left before the election, Abbotts Liberal-National coalition is leading Rudds Labor by six percentage points on a two-party preferred basis, according to a Newspoll published in the Australian newspaper Aug. 26. Online bookmaker Sportsbet said yesterday it was already paying out bets on the coalition winning the election.

A separate poll shows Labor has lost support in its traditional heartland of Western Sydney. A Newspoll conducted Aug. 23-28 of five electorates in the region has the coalition leading 57 percent to 43 percent on the two-party preferred measure. Abbott leads as the better prime minister, 46 percent to Rudds 40 percent. The survey of 800 voters has a margin of error of 3.5 percent.

A coalition government would seek strong ties with Australias key ally, the U.S., and its biggest trading partner China,Are you still hesitating about where to buy paintingreproduction? Abbott said, continuing the policy of past governments.

Theres nothing inconsistent between Australia having a very, very strong friendship with the U.S., a strong and growing friendship with China, and the U.S. and China being friends and partners rather than rivals, said Abbott, who has been opposition leader since 2009.

Moretown was surrounded by natures unprecedented rage as floodwaters of the Mad River spilled into the village, but the town remained calm and collected as it began to rebuild, Pierson said.

The storm had passed, but it would return when the town began to count the damages, a tally that continues today. After the storm, 50 homes were flooded, 40 roads were damaged and many culverts and drainage systems could not match the swollen river.

The cost of municipal infrastructure damages, which include roads, culverts and bridges, totaled more than $2.3 million,The need for proper kaptontape inside your home is very important. said Tom Martin, chairman of the towns selectboard.

During the August 2011 storm, the Moretown Elementary was flooded four inches deep with sewage and river water and the town office was flooded beyond repair.

The paperwork is still mounting and the rain still sounds an alarming chill for many town residents, but the community that was physically divided by a raging torrent remains more tightly bound in its settled wake.

This week, students at Moretown Elementary returned from their summer vacation. Two years ago, the school was a temporary evacuation center. That lasted about two hours before its seven occupants darted for the hillside in the wind and rain as floodwaters seeped inside, Pierson said.

The storm tore homes from their foundations, smearing what was left with debris and mud, and cut off the trampled roads with heavy silt, delaying school openings across the state for more than a week.

Before the school building was close to operational, the students needed to get back to school, Pierson said.

We really felt a duty to the community to get some sense of normalcy back to the kids and the families, Pierson said.

For the first week of school, the students left for field trips. The second week, they returned to three large wedding tents,Need a compatible parkingassistsystem for your car? a pop-up camper and a Red Cross tent located on the baseball field. This served as the temporary Moretown Tent School as the sewage-saturated carpet was replaced, Pierson said.

Teachers still taught, Pierson said. This time, however, they set up on blankets and chairs as parents and other members of the community helped serve food and warm drinks.
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