PRIME Minister Kevin Rudd tonight made an unusual televised address to the nation, outlining his government's latest move to protect Australia from the global financial crisis. The three-minute address was transmitted around the nation.
The last time a prime minister made such an address was when John Howard decided to send troops to Iraq in March, 2003.
Mr Rudd used the address to try to reassures Australians, just hours after announcing a $10.4 billion Economic Security Strategy.
"Many Australians have become concerned, anxious and even fearful as to the future," he said.
"The truth is that we are going through the worst financial crisis in our lifetime.
"I've described it as the economic equivalent of a national security crisis.
"More than 25 banks around the world have failed, or been bailed out.
"But here in Australia, we have among the best regulated banks, with the best balance sheets, in the world."
He said as prime minister, he would act to ensure the stability of Australia's financial system, but warned the country would not be immune from the crisis impacting around the world.
"In the last few weeks, the global financial crisis has moved into a new and dangerous stage," he said.
"Growth will slow, and unemployment will rise.
"That's why the Government today announced this $10.4 billion Economic Security Strategy to support continued positive growth in the national economy, and to provide practical help to households as well."
Mr Rudd said he wanted the Australian people to be aware of the situation.
"As prime minister, it is my job to level with the Australian people. I don't intend to gild the lily.
There will be tough times ahead," he said.
"But the Government remains determined to take whatever action is necessary in the future to steer the economy through this global financial crisis.
"And I have absolute confidence that as a nation, we will get through these tough times together."
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