JOURNALIST:
Simon Crean and Mark Latham have disagreed overnight about negative gearing, do you think the system is working?
TREASURER:
Well after 8 hours in the job Mr Latham proposed a new tax, and after 24 hours in the job he was repudiated by his own leader, and he couldn't hold the policy from Lateline to lunchtime. So, this is what I mean, the problem with Labor is not who they have got, the problem is what their policy is. They cannot hold credible economic policy. And after all of the fanfare we had from Mr Crean about how Mr Latham would improve their credentials, even Mr Crean had to repudiate his own spokesman within 24 hours.
JOURNALIST:
Are you surprised they had disagreed so early on in the piece?
TREASURER:
Well you have got to say what it proves is that Labor can't be trusted with economic policy. Mr Crean makes a big thing about appointing Mr Latham, Mr Latham announces the review and a new tax, Mr Crean repudiates it. They can't hold a credible position from Lateline to lunchtime and at the end of the day, you have got to say, same old Labor, same old economic disaster.
JOURNALIST:
Do you think Mark Latham has his eyes on the leadership?
TREASURER:
Well I think Simon Crean is probably regretting, 24 hours after the event, that he appointed Mr Latham to this portfolio. I have never seen the Shadow Treasurer repudiated by his leader within the first 24 hours and we await further developments.