The Crest of the Commonwealth of Australia Treasury Portfolio Ministers
Picture of David Bradbury

David Bradbury

Assistant Treasurer, Minister Assisting for Financial Services & Superannuation and Minister for Competition Policy & Consumer Affairs

5 March 2012 - 18 September 2013

Transcript of 01/05/2012

NO.026

Interview with Amelia Adams

Channel 9 Morning News

1 May 2012

SUBJECTS: Interest rates, Budget, Newspoll

HOST:

Mr Bradbury, good morning, thank you for your time this morning, really appreciate it.

BRADBURY:

Good morning Amelia, good to be with you.

HOST:

Now firstly to the polls. The Opposition is almost twice as popular as the Government. Do you think the next election is a foregone conclusion?

BRADBURY:

No I don't. Certainly these polls will come and go and this is one that's attracted a lot of interest but as a Government we're focussed on what it is that people have elected us to do and at this point it's about handing down a Budget next week and this will be a Budget that'll return our Budget to surplus, which is important and it comes at a time when we've got low unemployment, we've got inflation contained, we've got a record pipeline of investment, which really does mean that as a country we have opportunities that many others would cut their right arm off to have. So we really need to focus on that important task ahead.

HOST:

We have seen Julia Gillard's personal popularity slump in recent times. Is it time for a change of leader?

BRADBURY:

I don't subscribe to that view. I think it's important that as a Government we get on with what it is that people expect us to do and at the moment we've got a very big task ahead of us with returning the Budget to surplus. But it's critical that we do that and that's something that we've been working away at for some time to do. It's important that we do it because in the end we know that by returning the Budget to surplus and running a tight fiscal policy that we're able to give the Reserve Bank the flexibility that it needs to cut interest rates if that's what it chooses to do.

HOST:

Alright, and Mr Bradbury just on that topic, I can see you're outside the RBA there. Big decision there this afternoon, what do you believe the RBA should do?

BRADBURY:

We've always consistently said that interest cuts or movements are a matter for the Reserve Bank, that is Government policy, but obviously any decision to provide any relief would be something that would be welcomed by many Australians, there's no doubt about that.

HOST:

Now you mentioned earlier about the Budget, that's due to be handed down next week and obviously spending cuts will be needed to achieve that surplus. Who is going to feel the pain?

BRADBURY:

I can't foreshadow any of the announcements that will be contained in the Budget next week but what I can say is that there's a big task involved in returning the Budget to surplus. It's important that we do that. It's the best insurance that we can provide our economy against any future shocks from the global economy.

In terms of who will be impacted by the Budget, well you can't return the Budget to surplus in the current circumstances without there being wide-ranging impacts but we're very focussed on making sure that the people that need assistance most are not unfairly targeted by any of the measures in this Budget. We think it'll be a tough Budget but it'll be a good, traditional Labor Budget looking after those people who are hardworking, and rewarding their effort.

HOST:

Alright, we'll wait and see. Assistant Treasurer David Bradbury thank you so much for your time this morning.