The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of Peter Costello

Peter Costello

Treasurer

11 March 1996 - 3 December 2007

Transcript of 09/05/01

Transcript No. 2001/053

TRANSCRIPT
of
THE HON PETER COSTELLO MP
Treasurer

Doorstop
Malvern Primary School
Melbourne
Wednesday, 9 May 2001
10.20 am

E&OE

SUBJECTS: Centenary of Federation, business confidence

JOURNALIST:

(Inaudible).

TREASURER:

I think that there is a real atmosphere of celebration in Melbourne at the moment. You would have seen from those kids that they understand Federation, they are excited by it, they are doing projects on it. I think the number of people that have been in Melbourne add a great deal of glamour and excitement to the city and I think there is quite an interest in Federation and it will come to a height this afternoon.

JOURNALIST:

Alright. And secondly, the NAB, was very soft, it appears things haven’t bottomed as we might have thought?

TREASURER:

Look, you get different business surveys, but I think the most important economic information this week was the retail trade, which for the March quarter was quite strong - 1.9 per cent. And that will make a healthy contribution to growth in the March quarter. And I have a feeling that with supportive monetary policy, we have now had a number of interest rate cuts, that will be returning a lot of confidence to consumers and business.

Thanks.