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We have accepted there is a big role for government to create a framework where businesses can grow in all parts of the country.

Government does create prosperity and growth by creating the conditions that allow both entrepreneurs and their customers to thrive; balancing the power of capitalists like me and workers isn't bad for capitalism - it's essential to it.

Governments will always play a huge part in solving big problems. They set public policy and are uniquely able to provide the resources to make sure solutions reach everyone who needs them. They also fund basic research, which is a crucial component of the innovation that improves life for everyone.

Our job as a government is to start with the great underpinnings of our current economic growth - particularly defence and mining - and build on these.

Government is truly beginning to embrace the power of innovation for the people and by the people, the idea that if government collaborates openly with and unleashes the ingenuity of the public, it will get much more done, much faster and at much lower cost than if government acted alone.

The government would also be wise to press on with its further measures to promote growth, as it will want to outperform the low figures in this outlook. This will mean delivering measures to ease money and credit and to stimulate demand.

We believe that the government has an important role to create the conditions that promote entrepreneurship, upward mobility, and individual responsibility.

We must never forget that it is the private sector - not government - that is the engine of economic opportunity. Businesses, particularly small businesses, flourish and can provide good jobs when government acts as a productive partner.

Faced with a deep recession, some say the answer is to expand the role of government.

All sensible politicians favor growth, just as we all favor sound public finances. Both can be achieved if we rationalize spending, invest available resources wisely, and clamp down on tax evasion.