DAVID KOCH:
Treasurer, good morning to you.
JOSH FRYDENBERG:
Good morning to you.
DAVID KOCH:
The Government insists there was no secret deal made with Jacqui Lambie. We’ve spoken to her office, it has confirmed an agreement was made. Why shouldn’t we know about this deal? Why are you covering it up?
JOSH FRYDENBERG:
Well, Kochie, there is no cover-up here. What the Prime Minister was asked is exactly the question, was there a special deal, and he was quite emphatic yesterday when he said there has been no commitment other than to implement our policies and, obviously, we’re getting rid of this bad legislation and obviously we’ve been very successful when it comes to strong border protection…
DAVID KOCH:
Why would Jacqui Lambie’s office say yes an agreement was made?
JOSH FRYDENBERG:
Well, we haven’t made any commitments other than to implement our policies and we’ve closed seventeen detention centres, we’ve removed every child out of detention and, obviously, we’ve ensured that not only no lives have been lost at sea but also that more money has been saved for the budget. And that has been the ramifications of a very strong and successful border protection policy. But the Prime Minister was very clear; the only commitments that have been given have been to implement our existing policy.
DAVID KOCH:
Okay. Let’s talk the economy, Australia’s economic growth for the quarter was 0.4 per cent, 1.7 per cent for the year, 29th consecutive year of positive economic growth. That’s good news. But consumer spending is 0.1 per cent, the lowest since the GFC. Are you baffled about what is going on in the economy here? That you’re putting in stimulus but everyone is paying down debt and saving it rather than spending?
JOSH FRYDENBERG:
Well, these numbers actually show the remarkable resilience of the Australian economy, Kochie, and while other major economies like the United Kingdom, like Germany, like South Korea and Singapore have all experienced negative economic growth, Australia continues to grow. Now, my job as Treasurer and the Prime Minister’s job is to put more money into the pockets of Australians and what we saw in these numbers was that household disposable income had its fastest rise in over a decade. But it’s up to your viewers to decide whether they pay down their debts or whether they spend at the local shops. That’s a matter for them.
DAVID KOCH:
It’s almost as if they don’t trust the future, saying “oh, I’d like to spend it but no, I’m a bit uncertain, I’ll save it or pay down debt and be conservative.”
JOSH FRYDENBERG:
Well, there’s definitely trade tensions abroad which have undermined global economic confidence, we’ve seen that, as well as obviously the devastating drought that has affected two thirds of Queensland and 95 per cent of New South Wales. And that’s probably playing into the concerns of consumers. But ultimately, you put more money as we are into their pockets and it will be spent overtime.
DAVID KOCH:
Alright, Treasurer, thanks for joining us.
JOSH FRYDENBERG:
Good to be with you.