Effects of the 2005 budget on economic activity, price stability, economic growth, full Employment and inflation.

Federal Treasurer, Peter Costello, brought down his 10th Budget saying it is framed for the future, the future opportunities of young people, the future care of the aged, the future health services that Australians will need and demand, the security of the nation, and the future growth of the Australian economy which is necessary to realize these goals. Peter Costello said the economic management of the Australian Government affects the lives of everyone because the …

…if the right decisions are made for the future. Importantly, that performance also provides valuable experience to help us determine what policy measures need to be implemented to increase opportunities for all Australians. The sustained strong performance of the Australian economy over the last decade has meant that Australians are enjoying increased success and comfort. The strong performance has been held back by a sustained reform effort aimed at improving productivity and labor force participation.