NATALIE BARR:
Joining me now is the Treasurer Josh Frydenberg. Good morning to you.
JOSH FRYDENBERG:
Good morning, Nat.
NATALIE BARR:
How concerned are you by those big case numbers in Victoria?
JOSH FRYDENBERG:
Well, Delta is a game changer as far as the virus is concerned. It’s much harder to contain, and obviously, you know, is very dangerous for people’s health, and that’s why the vaccine rollout is so important. And as you said, Nat, some really good signs is that the number of people getting the vaccine has increased quite dramatically – more than 2 million over the past week for the first time ever. So as more people get vaccinated our community will be safer and we’ll just have to learn to live with the virus. That’s the reality that we now face, just as every other country around the world is doing right now.
NATALIE BARR:
Yeah, it’s the way forward, isn’t it. Now, the Victorian Premier has again accused your government of playing favourites for refusing to provide Melbourne’s tradies with financial support during the state’s two‑week construction shutdown. Take a listen to this.
[plays excerpt]
DAN ANDREWS: I think Victorians are getting sick and tired of every time the commonwealth government spends a dollar in Victoria it’s treated like its foreign aid, like we should bow our head and be grateful. No, we’re part of this country. We pay our taxes.
NATALIE BARR:
Just quickly, Treasurer, do you agree with that?
JOSH FRYDENBERG:
Well, I’m not going to take the bait and give the Victorian government the distraction it wants. The reality is that we is provided more economic support to the Victorian people and Victorian businesses on a per capita basis than any other state. Right now we’re paying around twice what the state government is to Victorian households and businesses. The reality is that the Victorian government chose not to put construction businesses in their scheme whereas it was in New South Wales’ scheme. In New South Wales, their government has also topped up what the federal government has been providing. It’s very open to the Victorian government to do that in this case. Our COVID disaster payment, which is up to $750 a week, is available to construction workers, and that’s where our support is.
NATALIE BARR:
Okay, you’re giving a speech today on climate change. Can we expect you to commit to a net zero target?
JOSH FRYDENBERG:
We haven’t taken that decision formally within the Coalition, but obviously we’re making good progress on our internal discussions. My speech today is about what is happening in financial markets, Nat. Whether it was the industrial revolution or the digital age, financial markets have been subject to this significant structural change, and it affects Australia because we rely so heavily on foreign investment – $4 trillion worth of foreign investment, nearly half of our government bonds are bought by foreign investors, and our domestic banks get around 20 per cent of their funding from overseas. So the fact that investors are now factoring in climate risk and that’s leading to a reassessment of value is a very important development. I want to make sure that Australia’s not disadvantaged – actually to the contrary, I want to make sure that Australia is able to capitalise on this advantage. And that’s why it’s so important we’re part of global agreements, and that’s why it’s so important we reduce emissions and that we have the right disclosure frameworks.
NATALIE BARR:
Yeah, you’ve just got a few Nationals to fight here first, I would say. Look, former Carlton Football Club President John Elliott has died at the age of 79. You are a Carlton man, very sad day for the club.
JOSH FRYDENBERG:
Well, John Elliott was a great Liberal, a great Carlton man and very proud Victorian. He left a huge impact on his state and the many people that he came in contact with. He was a larrikin, he was larger‑than‑life figure, and he will be very sorely missed. You’re right, he was so proud of his navy blues. He was very proud of the jumper and, of course, you know, he left a very strong legacy at the club with premierships as a result of the changes he made.
NATALIE BARR:
He chose the right weekend to go, didn’t he? Josh Frydenberg, thank you very much for your time.
JOSH FRYDENBERG:
Nice to be with you, Nat.