SYDNEY // Australia's upcoming election will focus on securing the economy as the commodities boom weakens, said Kevin Rudd, the prime minister, yesterday as he opened the first televised debate with his challenger.
Mr Rudd, who retook the Labor Party leadership in late June, has repeatedly maintained that he is the underdog in the September 7 national poll against the conservative opposition leader, Tony Abbott.
The pair began an hour-long televised debate with Mr Rudd stressing his centre-left Labor government's accomplishments in keeping the economy out of recession during the global financial crisis.
"This economy is strong. This election is about the future strength of our economy and how best to secure it," Mr Rudd said.
"The election is about a clear choice on the economy, on jobs, on how we support families under pressure, and how we support education and health."
The election comes as the decade-long resources boom is beginning to unwind, with the central bank this week scaling back its near-term forecasts for economic growth.
Mr Rudd said that with the weakening of the mining boom the economy faced challenges, and he offered a "new way to take Australia forward".
Mr Abbott, who leads a conservative Liberal/National coalition that is narrowly ahead in opinion polls, said a government he led would strengthen the economy as he committed himself to abandoning Labor's industry tax on carbon pollution.
"We can't afford another three years like the last six," Mr Abbott said in his opening statement. He also vowed that his government would stop asylum-seeker boats embarking on the dangerous journey to Australia.
"Mr Rudd talks about a new way.Well, if you want a new way you've got to choose a new government."
Mr Abbott also countered Mr Rudd's accusation that, if elected, the conservatives would embark on billions of dollars of spending cuts, including in government services.
"I think our country, I think the people at home who are watching this deserve better than a cheap scare campaign from the prime minister of this country," Mr Abbott said.
"This idea that the coalition is ready with a great big scalpel to slash health, to slash education, to slash jobs is simply wrong."
The latest Galaxy poll showed that while it remained a tight race, Labor's primary vote fell from 40 per cent to 38 per cent while Mr Abbott's Liberal/National coalition rose from 44 per cent to 45 per cent.
In a two-party race between Labor and the conservative coalition, the government neck and neck with the opposition, at 49 per cent to 51 per cent, according to the poll of 1,002 voters taken at the end of last week.
The gaps were within the poll's margin of error of 3.1 per cent.
The debate also came as Labor lost two candidates in embarrassing circumstances.
Mr Rudd dumped Geoff Lake from the safe Victorian seat of Hotham after revelations that he had abused a disabled woman more than a decade ago during a heated local council meeting.
And in the key election state of Queensland, the Labor candidate, Ken Robertson, resigned as a prospective representative for Kennedy for calling Mr Abbott a "very, very bigoted person".
Mr Rudd led Labor to a 2007 election victory that ended more than a decade of conservative rule. But he was deposed by his Labor colleagues within his first term and replaced by Julia Gillard, the nation's first female leader.
The popular former diplomat, Mr Rudd was reinstalled in June after dismal polling indicated Labor would be wiped out in this year's election if Ms Gillard remained as leader.
Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
Company%20Profile
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Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
Founders: Abdulmajeed Alsukhan, Turki Bin Zarah and Abdulmohsen Albabtain.
Based: Riyadh
Offices: UAE, Vietnam and Germany
Founded: September, 2020
Number of employees: 70
Sector: FinTech, online payment solutions
Funding to date: $116m in two funding rounds
Investors: Checkout.com, Impact46, Vision Ventures, Wealth Well, Seedra, Khwarizmi, Hala Ventures, Nama Ventures and family offices
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
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COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
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MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
THE SPECS
Engine: 3.5-litre V6
Transmission: six-speed manual
Power: 325bhp
Torque: 370Nm
Speed: 0-100km/h 3.9 seconds
Price: Dh230,000
On sale: now
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Company%20Profile
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Tips for SMEs to cope
- Adapt your business model. Make changes that are future-proof to the new normal
- Make sure you have an online presence
- Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
- Open communication with customers to see how they are coping and be flexible about extending terms, etc
Courtesy: Craig Moore, founder and CEO of Beehive, which provides term finance and working capital finance to SMEs. Only SMEs that have been trading for two years are eligible for funding from Beehive.