SUBJECTS: Nation Building and Jobs Plan
MARIUS BENSON:
Mr Bowen it has been a long, long night.
CHRIS BOWEN:
Well this morning we have seen the most irresponsible act by a political party in modern Australian history. Malcolm Turnbull's Liberals, flying in the face of economic advice of every major international institution and refusing to back the Government's package, to secure Australia's economic future.
BENSON:
There is a lot of rhetoric flying around. You are talking about the most irresponsible act; they are talking about Whitlamesque spending sprees. There are substantial differences, obviously, at the heart of this. The Liberals aren't going to be on side, you are going to have to win the support of the Greens and the minor parties to get it through the Senate.
BOWEN:
Well obviously, the Government will be working closely with the minor parties in the Senate. The Opposition, by walking away from economic responsibility, by walking away from this plan to invest in schools, in roads and in payments to Australian family doing it tough.
BENSON:
Of course the Opposition says that you are the ones being irresponsible. Can I as you about one of their specific criticisms of the bill that is being sort or the Government is seeking approval for, at the moment, will give the Government the ability to go into the deficit to the tune of $200 billion. Malcolm Turnbull says $200 billion on the national credit card - why do you need that scope of debt?
BOWEN:
Well if you look at the forward projections, over the budget cycle there are deficits projected for the next few years, that means the Government needs the flexibility to raise that money through bond issuance. But at the end of that, when you will have Federal Government debt as a percentage of GDP at about 5 per cent, compared to well over 40 per cent in many countries around the world - countries that we normally compare ourselves too. So Malcolm Turnbull is engaging in sophistry of the first order for cheap political point scoring, at this time of, frankly, great economic need.
BENSON:
The other point they make is why the rush? Why did you try and push through $42 billion in spending in 42 hours. Are you now resigned to allowing a few more days for it?
BOWEN:
Will clearly we have been willing to allow plenty of debate in the House of Representatives. Every Member of Parliament was here all night to allow the Liberal and National Parties to have their say and clearly it will now go to the Senate where there will be a debate as well and where there will be an investigation of the Government's moves as well. And we are happy to have our plans stand up to that's scrutiny.
BENSON:
And you'll be conducting talks, you say, with the Independents and Greens in the Senate?
BOWEN:
Obviously, the Government will be happy to talk to the minor parties in the Senate.
BENSON:
Are you happy to amend your legislation?
BOWEN:
Look the legislation as it stands is very important and we will be arguing that vigorously.
BENSON:
To get it through the Senate are you happy to change it to some extent?
BOWEN:
Well I am sure the Prime Minister and Treasurer will be happy to listen to the minor parties but we will be arguing for our package.
BENSON:
You will be listening, but I was trying to clarify whether you are prepared to actually change, at least at the margins, the legislation?
BOWEN:
Well obviously, we are always happy to listen to sensible suggestions from the minor parties, but this is a very carefully crafted package, which strikes the right balance, delivering payments to families, investment in the future - investment in schools and investment in important infrastructure - and we will be talking to the minor parties about why it is important for that package to be delivered in tact.
BENSON:
Realistically, it doesn't look like you will be getting it through this week, as you hoped. Are you now looking for early next week through the Senate?
BOWEN:
Well obviously we want it passed through the Parliament as soon as possible and we will negotiate that through with the minor parties.
BENSON:
Early next week? Is that a realistic assessment at the moment?
BOWEN:
Well obviously the Tax Office and Centrelink are keen for parliamentary approval as soon as possible so they can make the payments and make the preparations for the payments based on the proper parliamentary approval, and we will be talking to the minor parties about how important that is. And they will have views about the proper process views going forward, as we do, and we will talk to them about it.
BENSON:
Chris Bowen thank you very much.
BOWEN:
Nice talking to you.