Peacock Promises Improved Living Standards

CANBERRA: The Leader of the Opposition promised yesterday that a Peacock government would arrest declining living standards and bring about some improvement in its first term.

And he pledged that if he was elected Prime Minister, he would ensure that governments ran their full term. "I will not be calling early elections," he said.

Although Opposition Leaders have absolutely no say in the timing of elections, Mr Peacock also called for the Prime Minister to hold an August poll "in the national interest" because of the current economic crisis.

"In the unlikely circumstances that we don't win - and that's most unlikely- it will at least give this Government the opportunity to take action that is required," he said.

Speaking at a Liberal Party campaign launch for Labor minister Mr Clyde Holding's seat of Melbourne Ports, Mr Peacock repeated his comments of Tuesday this week on the poor economic outlook, saying improved living standards would not happen overnight.

He also said that, despite his comments of Tuesday that some of the Opposition's spending cuts would be painful and politically unattractive, they would not affect the poor and the elderly.

"The disadvantaged and the elderly have nothing to fear under us," he said. "We will not be hurting the worst-off in the community. We will be getting value for taxpayers' dollars.

"We have always had effective welfare programs and they will continue."

He also said the 13.5 per cent ceiling on home loans now enjoyed by some homeowners would definitely stay under a Liberal Government.

Meanwhile, the Treasurer, Mr Keating, put out a statement yesterday afternoon accusing the shadow Treasurer, Dr John Hewson, of making it obvious the Opposition would grab back the Government's July 1 tax cuts. Dr Hewson responded later saying the Treasurer had quoted him out of context and he had never opposed the tax cuts per se.