PAT FARMER:
G'day everybody. It's wonderful to be here on the Gold Coast, a place that I dreamed about from – basically, 111 days ago when I first set off in Hobart. To be able to get across to the east coast and to places that I recognise, places where there's actually a 7‑Eleven on every corner where I can get a doughnut and a coffee if I want one, and where my vehicle can get filled up with fuel as well. After travelling more than 9000 kilometres to this point, approximately 70 to 80 kilometres per day, every single day with no days off ‑ it's a nice relief to know that we've got all of the conveniences that we need here, or right here at our fingertips or at my footsteps. But it's not like that for everybody in the country. For a lot of people throughout the country, they're missing vital services, things like clean drinking water. I went to many communities where they don't have garbage disposal services, something that we all take for granted. They simply don't have clean drinking water ‑ and not the sort of thing that you would expect here in Australia ‑ but many people are drinking bore water day‑in day‑out, with no filtration on it whatsoever, and then we're wondering why they need dialysis machines. So that together with a number of other health problems, and of course, many other social issues that are going on in these communities ‑ it just sort of hammers home the message that I'm trying to get through to everybody and the reason why I'm doing this run in the first place, and that is ‑ this run is for the Voice. It's to promote and to support the Voice referendum that's coming up at the end of the year. And I want to encourage all Australians to take a good hard look at the life that they're living and know and understand that there is a big portion of our country ‑ in fact, our First Nations people ‑ that are not enjoying the same benefits. But they could do, if they could actually direct government on their needs and their concerns. And that's what the Voice is really all about, it's really all about them taking control of their own destiny. So today especially, but all the way along this journey, I've been joined by runners, sometimes there's been four or 500 people and other times there's been one or two. And today in particular, one very special person, Jim Chalmers, the Treasurer of the nation, is here with me. We've just completed, was it 15 kilometres?
JIM CHALMERS:
14 kilometres, we better not round up, Pat.
FARMER:
Well, 14 k's at neck‑breaking speeds, so we've gone pretty fast. It's been a nice, hard, fast run for us this morning, but a very enjoyable run and one that we've both had the opportunity to be able to play off each other and talk about why I'm doing this run and the needs and the concerns for it ‑ and also my admiration for the government for putting this referendum forward at this point in time.
CHALMERS:
Thank you, can I just add to what Pat said ‑ but first of all, what a legend Pat Farmer is. For a really long time now, Pat's been a hero of mine, and to have the opportunity today to be able to have a gallop with him and have a chat about life and about running, but most importantly, about the Voice. Australia is on a long and important journey, and Pat Farmer's on a long and important journey ‑ and this is about a Voice to Parliament. And a Voice to Parliament, as Pat said, is above all about better outcomes for people. It's about listening, it's about recognition and it's about doing things differently so that we can get better outcomes for people. And if you think about this run that we've had this morning, a couple of people from different generations, serve different sides of politics, probably got different tastes in music, I'm assuming, but we've come together for a really important cause today and that's what we want the nation to do. Pat Farmer's on this long, important and sometimes difficult journey, and Australia's on a long and important and sometimes difficult journey as well. And our destination here is better outcomes for people. So the Voice ‑ you'll hear a lot of things about what the Voice isn't ‑ but we're running for what the Voice is. And the Voice is about listening, it's about recognition, it's about better outcomes. And it's recognising, as Pat said so eloquently a moment ago, it's about people having a say in their destiny, people being able to shape their future together. And so, to stand with Pat now and to run with Pat, really is a big honour, and I hope it's a symbol of something a bit bigger than that. I'm very grateful for Pat including me today but much more importantly than that, he's been having conversations right around our big beautiful country. And Pat is travelling on foot, and he's talking to people who agree with us and he's talking to people who might not have an identical view as us, but he's engaging with people in this big national conversation that we're engaged in. So we really appreciate you, Pat, and your efforts. We really appreciate your team, we shout out your team ,Tania and the team as well, for putting in the long hours ‑ a big effort. I met Pat's dog Lilly on the way as well ‑ big dog on a big journey, as well. So it's been really wonderful this morning, Pat, we appreciate you so much. Been a hero of mine for a long time and to be able to spend time with you and engage with you on this important cause means a lot. I think we're happy to take some questions. We're going to take some questions on political issues a little bit later on. But any questions about Pat's run or about the Voice, happy to take now.
JOURNALIST:
Obviously, you're a dedicated runner, and here on the Gold Coast now. What's the plan for the rest of the day and moving forward?
FARMER:
I'll head on down towards Twin Towns there, so right on the border of Queensland and New South Wales, and I'll finish up there today, and I'll enter on in to New South Wales tomorrow morning and continue on the journey from there. This journey will take me through into Sydney, Canberra and Melbourne, across to Adelaide, up to Alice Springs, and then I'll finish at Uluru, so I still have quite a long way to go. But I'm encouraging as many people as possible to come out with me and not just run with me, for the sake of getting fit and healthy, but also to show their support for the cause. And to show their physical support ‑ it's one thing to talk about something, it's another thing to actually do something. And it says in the Uluru Statement ‑ there's an invitation from the Torres Strait and Aboriginal peoples ‑ come walk with us. And so I'm asking every Australian to read the Uluru Statement and come walk with me, run with me, ask me the questions that are needed.
JOURNALIST:
A little bit cool and overcast today, was it the Gold Coast welcome you were expecting?
FARMER:
Oh, absolutely, this is perfect weather. Jim will tell you ‑ any runner will tell you – these are perfect running conditions and it's absolutely brilliant. And of course, you guys are synonymous for having the Gold Coast Marathon, a beautiful flat course, people travelling all over the world to be here, so it's nice to be able to run a portion of that course today as well.
JOURNALIST:
The Treasurer spoke about people who hold non‑identical views to yours. What are you able to get from those people on this journey?
FARMER:
Well, let me put it this way ‑ Julian Leeser is going to join me, of course the ex‑shadow attorney‑general, who's now sitting on the backbench because of his positive views towards the Voice. He's going to join me when I get to Palm Beach, further down heading towards Sydney. There is a lot of people that are out there that are supportive of the Voice. They just want to know more about it. Many, many people can't understand that it's such a simple question. And when you speak to anybody under the age of 30, they can't understand why Indigenous people aren't already recognised in our Constitution, so this is about them being recognised in the Constitution through the Voice. And the reason why the Constitution is so important is because once it's in there, it's in there in concrete, so you can't get another political party come in and change things around, which we see happen all the time with roads and infrastructure. One political party will start building a road, another one comes in, gets elected and they cancel that road and they go off on another tangent. That just costs the taxpayer more money and it destabilises the country. So that's why it's important for the Voice to be in the referendum.
[Break]
CHALMERS:
Today, the ACCC has decided not to authorise the ANZ takeover of Suncorp Bank. The ACCC has found that this takeover wouldn't satisfy the requirements of the competition act. The ACCC comes to this conclusion independently. It's an important part of the process, when there are applications of this kind for the ACCC to work through the issues in a considered and a methodical way, and that's what they've done today. We respect the independence of the ACCC in coming to this conclusion and we don't intend to comment on the ins and outs of this decision that they've arrived at today. The ANZ takeover of Suncorp Bank has been found by the ACCC not to satisfy the requirements of the competition act. It's now in the hands of ANZ and Suncorp and other interested parties. They have a window of opportunity to appeal this decision if they'd like to. They can appeal it to the Competition Tribunal or to the Federal Court. I want to thank the good people of the ACCC for all of the work that has gone into this since the second half of last year when this deal was first floated and the application was first made. This is a decision taken by the ACCC not to authorise the ANZ takeover of Suncorp Bank. There are avenues now for the interested parties to appeal that decision and challenge that decision if they would like to. This process is at arm's length from the government and so I don't intend to comment on the ins and outs or the pros and cons of the proposal that was put forward by the two banks.
The second issue we have today, a bit later on this morning, the Reserve Bank will be releasing its Statement on Monetary Policy after having taken the welcome decision earlier this week to pause interest rates, the cash rate at 4.1 per cent. We're seeing inflation moderate in our economy in welcome ways but people are still under pressure. The highest priority of our government is rolling out billions of dollars in cost‑of‑living relief so that we can take some of the edge off these cost‑of‑living pressures without adding to inflation in our economy. So we're providing billions of dollars in cost‑of‑living relief, at the same time as we've got a bigger surplus to take pressure off inflation and we're investing in the supply side challenges in our economy as well. That's our three‑point plan to address this inflation challenge in our economy. Inflation in a quarterly sense peaked in this country in the March quarter of last year before the election but it has been too high for too long. It's coming off in welcome ways, but we understand that people are still under pressure and that's why cost‑of‑living assistance is the government's highest priority. We expect the combination of higher interest rates and higher prices and global economic uncertainty to slow our economy considerably. Our challenges are substantial, and we expect the economy to slow considerably. That's the expectation of the Reserve Bank and the Treasury forecasts in the Budget. In that context, Australians can expect to see more responsible economic management from the Albanese government. It is responsible economic management, which is providing in a considered and methodical way, billions of dollars in cost‑of‑living relief, a bigger surplus last year and smaller deficits going forward, and important investments in laying the foundations for future growth. Our job is to help people through difficult times, to clean up the mess that we inherited from the Liberals and Nationals, and to lay the foundations for a better future and that's what our economic plan is all about.
JOURNALIST:
You mentioned that people are still under the pump. Was it fair for the Reserve Bank to lift rates so high?
CHALMERS:
I don't second guess or pre‑empt decisions taken independently by the Reserve Bank Board. My job is to take responsibility of the areas where I can make a difference, providing billions of dollars of cost‑of‑living relief, getting the Budget in much better nick, and investing in our supply side challenges in our economy. That's my job. I take responsibility for doing my job. The Reserve Bank Board can explain and defend the decisions that it takes. There's no question that the interest rate rises, which began before the election, are biting in our economy. It's one of the important reasons why we expect our economy to slow considerably. It's one of the reasons why people are under pressure, and if you can combine the pressures that people are feeling with these higher interest rates and this global economic uncertainty, you can see why the Treasury and the Reserve Bank expect our economy to slow considerably in the months ahead. We've been up‑front with people about that. We've acknowledged that people are under pressure. We've been up‑front about the challenges in our economy. We've taken responsibility for providing that help, for getting the Budget in better nick, and investing in the future of our economy, particularly when it comes to the supply side issues which have been pushing up inflation.
JOURNALIST:
What's the possibility of a rate cut in March that the banks and economists are predicting?
CHALMERS:
I'll leave you in the hands of the market predictions and the economists. There's not a universal view about the future trajectory of interest rates in this country. And as the Treasurer, I think it's important that I don't pre‑empt or try and predict decisions taken independently by the Reserve Bank. I've got a job to do, and I'm focused on it. We're making welcome progress when it comes to economic plan, but for as long as people are under pressure, we know that there's more work to do. The Reserve Bank will do its job and I'll do mine.
JOURNALIST:
[inaudible]
CHALMERS:
The Reserve Bank will release its updated forecasts later on this morning. And people will pore over those forecasts for all of the obvious reasons. Our Budget forecasts the economy to slow considerably in the coming months. We've got a few things going for us though, as we face this period of economic uncertainty. We've created more jobs in this economy in the first year of the Albanese government than any new government on record: half a million jobs created in the first 13 months of the Albanese government is a record for a new government. We've got a Budget in much better nick ‑ the first surplus in 15 years taking pressure off inflation, and we're making key investments in the foundations of our economy. So we've got things going for us but we've got challenges coming at us as well. We have expected for some time in the Budget forecasts that the economy will slow and that's what we're seeing.
JOURNALIST:
There's been some really big population forecasts made for Southeast Queensland by the state government. The state government is pumping some money into housing. What can the federal government do to make sure that all these people are moving here and those that are already have homes to live in?
CHALMERS:
People want to live in Southeast Queensland because it's amazing. And I grew up basically in the Brisbane to Gold Coast corridor, and I know how absolutely magic this part of the world is, and it's absolutely no surprise to me that people want to live here. Why wouldn't you want to live here? And so our job as governments at all three levels is to make sure that we're providing and building the infrastructure and the housing that people need, and one of the essential features of our economic plans is to build more housing, particularly more affordable housing. That's why we're investing billions of dollars to boost housing supply where the pressures are most acute. We want people to be able to live near where the jobs and opportunities are being created in our economy, and Southeast Queensland is going to be such an important part of the future of our country and the future of our economy, and so we need to take responsibility at all levels for building the housing and building the infrastructure that people need.
JOURNALIST:
Some of that population growth in the Southeast is happening here on the Gold Coast, in particular. What are some of the big challenges facing our city, do you think going forward?
CHALMERS:
We've got to manage this population growth in responsible ways. One of the reasons why our population is growing is because the international students have come back quicker than anticipated, and the people on tourist visas have come back quicker than anticipated, and that's pretty good for the Gold Coast on both fronts. You've got this amazing university here, Griffith University, you've got Bond here as well, and tourism is such an important part of the local economy. Managed well, this can be a great opportunity for Southeast Queensland and for the Goldie in particular.
JOURNALIST:
Queensland's Housing Minister says to accommodate all these people, we're going to need to go up, create more medium and in some cases, high density housing. Do you think Australians are ready to give up on the idea of a big backyard and a Hills Hoist?
CHALMERS:
I think Australians want a choice. Some people want the big backyard and some people want to live in the inner city or the suburbs or out in the bush and people need to have the choices available to them. I don't engage heavily in planning ‑ that's largely the responsibility of the local governments and the state governments. I take responsibility for bringing people together with our Housing Accord, so that they can get the planning right, I can get the investment right, so that the industry can get the pipeline right. We can get superannuation and other investors involved. I'm giving tax breaks for build‑to‑rent properties so people can live near where the jobs and opportunities are. So we want to give people options and we want to give people choices, and we need a variety, we need to a mix of housing. Even looking around here at Southport and heading down towards Main Beach, some people want to live in apartments here, other people want to live further inland on bigger blocks. People should have those choices available to them.
JOURNALIST:
Gold Coast Mayor Tom Tate seems intent on holding on to the Comm Games. He says that he just needs the money that's already been promised from the federal government to Victoria or touted, to be redirected. Is that even possible?
CHALMERS:
First of all, I admire Tom's enthusiasm, I genuinely do. I obviously pay a lot of attention to what Tom says he's a mayor of a huge council in an important part of Australia. I take very seriously when Tom has a view, I take it seriously. But it's not possible to deliver a Commonwealth Games without all three levels of government being committed. I think for understandable reasons Premier Palaszczuk has said that state government's not in the cart for another Gold Coast Comm Games and I understand her reasons, I understand her thinking behind that. And so I wouldn't anticipate that a local government and a federal government could deliver a Comm Games without a state government but I say that, with all respect to Tom, and he should keep making the case. But I don't think it's a starter without all three levels of government being keen for it.
JOURNALIST:
Can you explain what the government's plans are for the Makarrata Commission, and will that be advanced in this term of government?
CHALMERS:
It's really important that we focus on what this referendum is about, and not what this referendum isn't about ‑ and this referendum is about a Voice to Parliament. And this Voice to Parliament is about a very simple proposition. It's that if we recognise people and listen to them, we'll get better outcomes for them. For too long in this country, we haven't been getting the outcomes that we need, despite billions of dollars of investment. And we shouldn't expect better outcomes from doing things exactly the same way as they've been done in the past, we need to find better ways. So this is about recognition, it's about listening and it's about better outcomes. And people who oppose the Voice, want to talk about all kinds of things that this referendum isn't about, we should be talking about what this referendum is about. You've all just seen Pat Farmer, who is frankly an inspiration ‑ the way that he wants to bring people together around this important question of the Voice to Parliament is inspiring. Bringing people together that's what we want to do. The country is on a long and important journey, just like Pat is, and that's about a Voice to Parliament. And these other issues that people raise from time to time, they're not on the ballot later this year.
JOURNALIST:
Is it distracting when there are those in parliament that are against it?
CHALMERS:
People want to distract from what this is about, and I'd rather focus on what this referendum is about, and how we get agreement. This is a big moment for Australia. This is an important moment for our country. It's an opportunity to listen and get better outcomes for our people, and we should grab that opportunity. This is a once in a generation kind of thing. We shouldn't pass the buck to our kids’ generations and hope that they sort it out down the track. And one of the reasons I admire Pat so much is he's realised that if we believe in this, and we do, and if we believe that if you listen to people you get better outcomes, and we believe in that too together, then we've got to really lean into this, we've got to put our back into it, and we've got to convince people who are not yet convinced. That's really important. We've got an opportunity in this country later this year, to do things differently and to do things better, and to get better outcomes as a consequence. Thanks very much.