DAVID KOCH:
Joining us now from Melbourne, Treasurer Josh Frydenberg. Treasurer, a really big day for Australia, those international borders coming down. But you can understand it's there's a bit of nervousness from some epidemiologists and the community that this could lead to a dangerous surge in infections. Do you share those concerns?
JOSH FRYDENBERG:
Well, the decisions to open these international borders and to allow freer movement between states, Kochie, is based on the best medical advice. And it's really good news. Today is a cause for celebration because, as you say, Australian citizens and permanent residents can travel internationally more freely, not having to go through hotel quarantine if they're double vaccinated. People between New South Wales and Victoria can move more freely, and also you can move now more freely between the regions and the cities. So this is really, really good news for our economy. It's going to reunite families. And it does show what learning to live with COVID is all about. And once you get those vaccination rates up, those freedoms are coming back.
NATALIE BARR:
Can you guarantee the international borders won't be shut again?
JOSH FRYDENBERG:
Well, I can't guarantee anything because we're living in a once‑in‑a‑century pandemic. But what I can tell you is that vaccinations are our best defence. And that is what has been proven by the fact that in New South Wales we've seen case numbers come down. We've seen vaccination rates go up. And this is what, again, learning to live with the virus is all about. You cannot eliminate the virus. Tragically there will continue to be hospitalisations and tragically in some cases there will continue to be deaths. But we don't need to go back to those lockdowns that we saw statewide which had such an impact on people's wellbeing and mental health as well as on the economy. And the good news is as New South Wales and Victoria have eased restrictions, an extra $150 million a day is being spent and, as a result, the jobs are coming back and business doors are reopening.
DAVID KOCH:
Okay. All right. Let's look at defence of a different kind now, and our stoush with the French. French President Emanuel Macron has accused Scott Morrison of lying over that dumped submarine deal. Take a look.
EMANUEL MACRON: I just say when we have respect you have to be two and you have to behave in line and consistently with this value.
JOURNALIST: Do you think he lied to you?
EMANUE MACRON: I don't think – I know.
DAVID KOCH:
Wow. Treasurer, for one head of state to accuse another one of lying is massive. Are you embarrassed by it?
JOSH FRYDENBERG:
Well, the Prime Minister has refuted that claim. Of course we understand the disappointment on the French side. This was a major defence contract that they wanted to see followed through to completion. But we took the decision to reach this new agreement with the United States, with the United Kingdom, two long‑term allies and friends, to advance the national interest by gaining access for Australia to the latest military technologies. I mean, Kochie, we're living in a pretty fragile, at times tumultuous, geostrategic environment and we make no apologies for gaining access to the best weapons systems, the nuclear submarine technology and the like.
DAVID KOCH:
But also were the French bad doing a bad job? Was this a business decision that the French just weren't delivering so you had to cut your losses and run?
JOSH FRYDENBERG:
It was a different arrangement that we reached with AUKUS. It's a different partnership. It's more than just nuclear submarines; it's also about artificial intelligence, cyber security and other weapons systems. And it's about ensuring peace and stability in the Indo‑Pacific and ensuring that Australia can, you know, stand tall in this military modernisation that is taking place in our region. We need – we need to have this partnership with the United States and the United Kingdom. It's a long‑term one and it's in Australia's interests.
NATALIE BARR:
Okay, we're going to Glasgow. We're there. Angus Taylor says the climate plans is going to cost $20 billion up to 2030. Mathias Cormann now says we need a carbon tax to pay for it. You're the Treasurer. What are we going to do?
JOSH FRYDENBERG:
Well, we're not going down the pathway of a carbon tax. What we are doing is investing heavily in new technologies like hydrogen, like carbon capture and storage, like developments with respect to soil carbon. We've already seen in Australia $35 billion since 2017 invested in renewable technologies. One in four Australian households have solar panels on their roofs. Ninety per cent of commercial solar around the world uses Australian technology. We have been leading in that technological race when it comes to renewable energy, and we'll continue to do so. What we have put in place is an investment road map with $20 billion of government expenditure. But that is hopefully, Nat, going to leverage, you know, an 80 or $100 billion worth of additional expenditure from the private sector, because government can't do it alone. Government must partner with the private sector, and that's what we're seeking to do.
NATALIE BARR:
Okay. Treasurer, thanks for your time this morning.
JOSH FRYDENBERG:
My pleasure.