DAVID KOCH:
Treasurer Josh Frydenberg joins us from Melbourne – no, from Canberra, you’re in today. You’re from Melbourne; how good is it to see all your compatriots and community down there celebrating?
JOSH FRYDENBERG:
It’s fantastic news to see Melbourne finally free, Kochie. I think it’s margaritas all round this morning. And, you know, this is – this is a huge sense of relief because, as you say, it’s been a really long, hard slog for the people of Melbourne – more than 260 days in lockdown. And businesses have done it tough, families have done it tough. I mean, kids have been out of school for more than a full year, and that’s you know, taken a huge toll on their education and personal development. But today is really a cause of celebration. And I just want to say thank you – a huge thank you to those health professionals that have kept our community safe. A huge thank you to our teachers who’ve looked after their students, to the small business owners who’ve supported their staff and, of course, to the mums and dads out there who have looked after their kids. Thank you for just holding tough and obviously seeing that light at the end of the tunnel.
DAVID KOCH:
Yep, looking through the lens of your real job as Treasurer, it’s got to be a relief to have the country’s to biggest economies – Melbourne and Sydney – finally getting back to business. Just put that in perspective for us.
JOSH FRYDENBERG:
Well, in terms of New South Wales it’s nearly a third of the national economy, and Victoria around a quarter of the national economy. We saw about a $2 billion hit a week as a result of New South Wales and Victoria being locked down. And that we, the federal government, were providing on top of that about one and a half billion dollars a week in terms of direct economic support. So those emergency supports can come to an end once you reach those 80 per cent vaccination rates. But what I think of this morning is one small step for Melbourne, one giant leap for our Australian economy.
DAVID KOCH:
Yeah. And how long‑lasting will the damage be? The City of Melbourne says recovery in Melbourne’s CBD could take as long as four years. And it’s still quiet in the CBD of Sydney as well. Will the cities ever be the same?
JOSH FRYDENBERG:
I think they will come back and they will come back obviously once the people start to work back in the offices, because it’s not just those office workers; it’s all the jobs that surround it, whether it’s hospitality, whether it’s transport, whether it’s other service that is are being provided. So we need to see those restrictions eased fully and then people will start to work back in the city. But it will take some time. And if you look at the most recent jobs data, for example, 120,000 jobs were lost in Victoria last month alone. So we can’t overlook the significant damage that has been done by lockdowns, but we can also be optimistic about the future and how confidence will come back and that jobs will come back.
DAVID KOCH:
Yeah, and damage to some of our biggest sectors as well – international students, also, you know, more than ever we need our skilled migrants coming back to Australia. The PM told us yesterday that we should see international students return as soon as next month. Seven News has now revealed there’s a solid plan in place. Can you tell us about that?
JOSH FRYDENBERG:
Well, we’re obviously working on the details of bringing back international students, bringing in skilled workers who, as you say, are really important to our economic recovery, whether it’s in construction, whether it’s in the resources sector, whether it’s in, indeed, the agriculture sector that you also need some of that labour. We’re working on those plans. But the first step is to bring the Australians home without quarantine, and that’s why we welcome the announcement in New South Wales and what looks to be like an announcement coming in Victoria where Australians coming home from November will not need to go through a quarantine process if they are double‑dose vaccinated and test negative.
DAVID KOCH:
Yeah. We understand that if the student plan goes well international borders could be reopened for tourists as well by Christmas. Will all Australians be able to get home before then, and will we accept other tourists?
JOSH FRYDENBERG:
Well, I know that Qantas is looking to bring on more flights. They’re bringing back their staff earlier than they’ve previously thought. And so everyone’s getting on board here to bring Australians home and also to restart our economy and to ensure that we are able to re‑engage with the rest of the world. The rest of the world’s opened up. They’ve learned to live with COVID. Now it’s Australia’s turn, and that’s why today is such a significant day in Victoria because after such a long lockdown people are really just itching to get out there and get their lives and their freedoms back.
DAVID KOCH:
Treasurer, what do you say to the states that are still really hesitant to open their borders, not only just internationally but domestically?
JOSH FRYDENBERG:
I say that the national plan provides them with a considered road map that is based on the best medical advice and that vaccinations are our defence against the virus. We do know there will be more cases, but that’s not the key indicator anymore. Our focus must be on keeping hospitalisations as low as possible and, of course, trying to keep people out of ICU and off ventilators. That’s got to be our focus. Looking around the rest of the world, Kochie, the have learned to live with the virus. We can’t live in lockdown forever because we know it’s not just an economic toll that it takes; it’s a huge emotional toll. And the scenes that we’re seeing in Melbourne are people just feeling that sense of relief after such a long period of lockdown, and that is what is so important about today – it’s a very tangible sign that we’re not turning back and that we’re reopening to Australia and the world.
DAVID KOCH:
Treasurer, thanks for your time.
JOSH FRYDENBERG:
My pleasure.