The Economic Policy of the PLP shall be guided by the vision of the achievement of human emancipation and equality. The party is committed to the creation and redistribution of wealth through public ownership of strategic resources and production and the democratisation of production and distribution. We will work to change the present capitalist culture of individualisation and privatisation and instead encourage cooperation and community involvement.
The on-going development of economic policy is basic to the PLP program. It is the major instrument through which a transition to a more human, socialised, society can be managed. Our first objective will be for the Australian people to gain control over their economy.
This democratic project is intended to build a strong and basically independent economy together with a firm commitment to regional and international obligations.
The PLP will work towards solidarity with working and oppressed people and governments who share our ideals. The PLP's notion of economic self-determination contrasts with the isolationism and populist racism of those who define self-reliance in other ways.
We will co-operate with unions, small business, small family farm enterprises, government and cooperative finance, and relevant community and local groups. We will act to prevent any exploitative practices of national and transnational companies.
The thirteen policy points below are designed to assist in returning power to elected government and away from corporations so that democratic economic policy can be enabled.
(These points should be read in conjunction with other PLP policies.)
- A shorter working week (35 hours) without loss of income.
- A guaranteed minimum, liveable income for all adults, and for those under 18 years without adequate means of support.
- Adequate funding for public education, health, transport, housing and means-tested legal aid.
- The creation of full employment for all who seek secure work.
- Halt the privatisation of public assets, including Crown Land.
- Reclaim to public ownership key privatised sectors of the economy, including the creation of a national publicly owned bank.
- Strengthen regulation of the finance sector.
- Review the National Competition Policy in light of the principles.
- Withdraw from or re-negotiate world trade agreements that undermine our national sovereignty.
- Promote fair trade and protection for selected industries and enterprises that conform to environmental, labour and other conditions.
- Regulate agribusiness and support small and medium owner-farms and encourage the cooperative and collective sectors.
- Halt and close down all uranium mining, and charge owners with rehabilitation costs of all sites.
- Restructure ownership of key resources by nationalising those industries which are necessary for a strong, self-reliant infrastructure.
In the transition to a predominately socialised economy the types of business making up the economy will include foreign firms, local privately-owned large and small firms, worker- owned cooperatives and government-owned enterprises and services. All will be welcomed but will be required to meet the government employment and environmental conditions, and all transnational companies, whether foreign or domestic, will have to meet ownership rules, tax regulations, borrowing regulations and other requirements. These policies will enable the most extensive and creative involvement of workers in all levels of the economy: those in paid work; unpaid workers, and those currently unemployed. The transition to a predominantly socialised society is a long-term process which must be reviewed on a regular basis.