BEN FORDHAM:
Here we go. The Treasurer joining us on the line from Canberra in just a moment, Josh Frydenberg. And look, I know he’s a straight-laced kind of player, Josh Frydenberg, but I reckon we’re going to crack a smile from him this morning because we’re officially on the comeback trail. We’re out recession and we’re hitting the shops. Household spending went up 8 percent in the September quarter. The economy as a whole grew by 3.3 per cent and as Paul Keating once said, these are a beautiful set of numbers. And just as we’re recovering from recession the UK’s rolling out the Pfizer vaccine as soon as next week. The Federal Treasurer Josh Frydenberg is on the line, he’s in our studio in Canberra. Treasurer, good morning to you.
JOSH FRYDENBERG:
Good morning, Ben. Lovely to be with you.
BEN FORDHAM:
Are you happy?
JOSH FRYDENBERG:
Well, I’m certainly encouraged by those set of numbers yesterday, and it’s a sign that the economic recovery is gaining momentum, and it’s the economic recovery that all your listeners and all Australians have been working hard for. But there is still a long, hard road ahead. You know how big the economic shock has been. There are a lot of businesses that will be listening to your program, and small business owners will be listening to your program, and families, and they’ll be doing it tough, particularly in some sectors like tourism and aviation. So we’ll continue to provide the support to the Australian community to get to the other side of this crisis, but certainly the numbers yesterday show that the trend is our friend.
BEN FORDHAM:
Yeah, we’ve got millions who’ve come off JobKeeper, we’ve got the coronavirus vaccine rolling out in the UK next week. It will be here early next year. We can’t understate the importance of that, either right?
JOSH FRYDENBERG:
Well, that is an encouraging development in the United Kingdom, but their situation is somewhat different to us, Ben. They’ve had more than a million infections, nearly 60,000 deaths. As you and I speak this morning there’s not one Australian who’s in ICU or on a ventilator due to COVID. Now we’ve got our own regulatory approvals processes going through right now with the vaccine and it’s the expectation that that will conclude by the end of January. All things being safe and effective then that vaccine can be rolled out in March. But certainly we will not compromise on community safety and we will make sure that it gets its own tick of approval here in Australia through the normal processes.
BEN FORDHAM:
If I can ask you about China, our relationship with our biggest trading partner is, well, not so flash at the moment. We know that. I know that the Prime Minister’s had some strong words over that ridiculous fake photo that was posted by a Chinese official. When it comes to our trade can we look beyond China when it comes to trade? We can, can’t we?
JOSH FRYDENBERG:
We have a breadth of trading relationships. Japan and Korea have been steadfast partners for us for decades. Indonesia is a very important trading partner for Australia, too. We’ve set in place free trade agreements with a whole host of countries since we’ve come to government. But, of course, the China relationship is our largest trading relationship and it’s an important one, but it’s also a mutually beneficial one, because our iron ore, for example, has helped underpin their economic growth. So we’d be very willing to engage in a respectful bilateral dialogue with China, but when it comes to these trade issues, we also reserve the right to pursue them through multilateral forums.
BEN FORDHAM:
You don’t have to agree with everyone you’re trading with, do you? I mean, we can have disagreements about a whole range of things, but in an ideal world, trade would not be impacted.
JOSH FRYDENBERG:
Well, again, trade is mutually beneficial. That’s why it takes place. It’s good for the buyer and it’s good for the seller and it helps create jobs. Certainly our trading relationship has been good for China’s economic growth, which has brought hundreds of millions of Chinese out of poverty and we welcome that. So let’s hope we get that relationship back to where it was, but it’s certainly challenging at this time.
BEN FORDHAM:
There’s a Chinese developer that signed a 99-year lease of Keswick Island in the Whitsundays and it’s now kicking out residents, closing the air strip, shutting a boat ramp, locking up the national park. Is this the kind of foreign investment that is in the national interest?
JOSH FRYDENBERG:
Well, I saw reports of that. As for who gets access to which beach or which property, they are going to be matters for the state government of Queensland. So I’ll leave it to them. But certainly, the broader the access, the better it will be.
BEN FORDHAM:
Before I go, another question that you might pass off because it involves a state government, but in New South Wales cabinet is considering an idea whereby people in possession of the drug ice would be left off with a warning the first time, a fine on the second and third occasion and only on the fourth offence in the space of 12 months would they face criminal prosecution. Are you worried about what kind of message that sends?
JOSH FRYDENBERG:
Well, drugs are a terrible thing for so many people across the community. We do need to retain a very firm hand when it comes to drug enforcement. Those decisions about decriminalisation and other matters are ones for state governments. I’ll leave them to explain their positions on what decisions may or may not be taken. But certainly when it comes to drugs of dependency and drugs which are criminal to produce and to use, I think you need to retain a very firm hand.
BEN FORDHAM:
We’re talking to Josh Frydenberg, the Federal Treasurer, from Parliament House Canberra. Before we say goodbye, Treasurer, everyone’s played their role in helping us out of this recession by spending. The spending figures are fantastic. So considering your wife, Amie Frydenberg listens to Radio 3AW in Melbourne we can be assured she’s not listening at the moment, what have you purchased Amie for Christmas?
JOSH FRYDENBERG:
Well, I can’t reveal that secret here to all your listeners before I give it to her.
BEN FORDHAM:
So you haven’t bought anything yet?
JOSH FRYDENBERG:
Well, let me just say, she wants presence as opposed to presents. She wants me with the “c”, to be present for the break. That’s what she wants.
BEN FORDHAM:
You haven’t bought her anything yet for Christmas, is that what you’re saying?
JOSH FRYDENBERG:
Look, I’m just not going to reveal those private matters on public radio.
BEN FORDHAM:
Poor, old Amie. She can’t take a trick.
JOSH FRYDENBERG:
Not so poor. She’s received plenty of flowers over recent times. I have to say, my wife has been a steadfast support this year because, as you know, Ben, I’ve been holed up in Canberra for the large part of it and it’s been an incredible, unforgettable year, a very difficult one for everyone. But what we saw yesterday was the light at the end of the tunnel. We saw these economic numbers pointing in the right direction, and the Morrison government will continue to be there for Australians as we have from the start of this crisis to the end of this crisis.
BEN FORDHAM:
All right. Well, you have spent a lot of time away from the family this year, and you’ve been with us regularly. We appreciate that, and if I don’t talk to you between now and Christmas, merry Christmas. We’ll catch up next year.
JOSH FRYDENBERG:
Merry Christmas to you, and your listeners, too.
BEN FORDHAM:
Josh Frydenberg, the Federal Treasurer, from Parliament House Canberra.