Doorstop Interview
Gold Coast Convention Centre
16 May 2009
SUBJECTS: Gold Coast Light Rail Project; 2009 Budget; Global Recession; Mr Howard's Comments; Federal Opposition
JOURNALIST
Treasurer, you talk about Sunbelt communities, people on the Sunshine Coast feel let down by this decision because they've been asking for a light rail from the Sunshine Coast to Brisbane for many years. What do you say to that?
TREASURER:
Well, both the Prime Minister and I were at the Sunshine Coast only yesterday to announce the money for the Cooroy?? to Curra??? upgrade of the highway, the most important and critical project for the Sunshine Coast, and we made a very significant amount of money available to that.
There has developed over many years in this country a huge infrastructure deficit and it is going to take some time to put in place a range of policies to deal with that. What we can do, and we have done though Infrastructure Australia, is to get a list of priorities in place, and this project here went through that assessment process and was one of the very first to get through it and to be recommended. That's why we're here today. And over time projects will be submitted. But it's important to acknowledge that we must do as much as we can, but we must do it in a responsible way, and that's what we're doing.
But the Sunshine Coast certainly has not been neglected or left behind by two boys from the Sunshine Coast, and we were there yesterday to indicate just how committed we are to that region as well.
JOURNALIST
How hard is it going to be to raise the other $450 million needed for this project?
TREASURER:
Well, this project is an important project. We've put up the equity investment, the Council has put up an equity investment and that gets it to the point where it can go out there with the Queensland Government and construct a vehicle and go to market. I think this is a very worthy project and it will go through all of those hoops as we move through this year.
JOURNALIST
The market is basically on its knees and a lot of businesses…
TREASURER:
If you're trying to say that this project may experience difficulties or whatever in the future, well we're very serious about it. We're very serious about getting behind it. We've provided the equity we were asked to provide and that's what we're doing. Because we're optimists about the future of this country because we are nation building for the recovery and we are putting in place economic stimulus for the jobs of today as well as the jobs for tomorrow. We think it's an important project. It went through that IA process and it was recommended to us by that independent body, and that says to me that there's a degree of rigour in the application.
JOURNALIST
What's the practicalities of accessing the (inaudible) money in superannuation funds for projects like this (inaudible)?
TREASURER:
Well, I did notice a very misleading and inaccurate headline in a national newspaper today that bore no relationship to the story in the paper. So, if superannuation funds wish to invest in infrastructure that's a great thing for Australia. But that headline in that national newspaper today was completely misleading.
JOURNALIST
Are you going to induce them or encourage them or in any way try to get the superannuation funds to invest in…
TREASURER:
Well, superannuation funds do invest in infrastructure now but how superannuation funds invest their money is up to their trustees and their members.
JOURNALIST
So, there'll be no encouragement or force from the Federal Government to (inaudible)?
TREASURER:
Well, they take their decisions independent of government, and that is the way it should be.
JOURNALIST
How safe an investment (inaudible)?
TREASURER:
Well, these projects go to market and the market makes its judgement about these projects. But this project has been through the whole process of Infrastructure Australia and was recommended to the Government by that independent expert body.
JOURNALIST
Four days after a rather tough Budget, how are you feeling?
TREASURER:
I feel terrific. I feel full of energy, and nothing gives me more energy than a beautiful Queensland day and a good look at the surf.
JOURNALIST
How's the reaction been from business and from opinion leaders?
TREASURER:
I've been particularly pleased with the reaction. I believe there is a community consensus that in the face of the most savage global recession in 75 years the country requires nation building for recovery, an economic stimulus to support jobs to support business and to support apprenticeships. The Government is responding to the most extraordinary international situation in 75 years. You could see that again in the European GDP figures published overnight. What we have to do is to cushion this economy from the most brutal effects of the most savage global recession in 75 years, and that's why nation building for recovery, economic stimulus for jobs is so important. And that was the sole focus of the Budget that came down on Tuesday night.
Now, I see there's been some commentary by a former Prime Minister out there today, and I think that that commentary provides confirmation that the Liberal and National parties remain WorkChoices addicts. You scratch the surface and it simply doesn't go away.
So, we haven't seen any positive alternative policies from the federal Liberal and National Party Opposition but their real spokesman, Mr Howard, was out there today saying that WorkChoices remains their number one article of faith, and I think that says a lot about the lack of alternative with the Liberal and National parties.
Thanks very much.
