Transcripts

DOORSTOP INTERVIEW CANBERRA 7.45AM WEDNESDAY 10 FEBRUARY 2010

10th February 2010

DOORSTOP INTERVIEW

  CANBERRA

 7.45AM WEDNESDAY 10 FEBRUARY 2010

Subject: Reserve Bank comments, Labor budget blow-outs under Lindsay Tanner, Barnaby Joyce

E&OE………………………………………………………………………………………

JOE HOCKEY:

Evidence has emerged today that everything I’ve been saying for the last few months is absolutely correct.  Unless the Rudd government pulls back on its massive spending program, there will be upward pressure on interest rates and that’s going to hit Australian families hard.

Australians are rightly concerned about the day-to-day costs of living.  Kevin Rudd is making it worse by spending so much money and putting upward pressure on interest rates.  It is patently clear from what the Governor of the Reserve Bank has said, that if governments do not spend back on massive spending programs, then interest rates will go higher.

Now there is evidence emerging that the government can’t even manage the programs it has. We’ve seen the $1.5 billion blow-out on school halls program, $1 billion blow-out on computers in schools and now an $850 million blow-out on a $150 million solar panel program.

The Rudd government can’t manage money. The Rudd government’s spending is putting upward pressure on interest rates and I would urge the Rudd government to start pulling back, because clearly their spending is all about politics and absolutely nothing to do with economics.

JOURNALIST:

[inaudible]

JOE HOCKEY:

Barnaby is absolutely right to be concerned about debt. And as the Governor of the Reserve said, the more governments borrow, the less likely central banks will be able to keep interest rates low. And it’s patently clear now, that the more governments borrow, the greater the upward pressure on interest rates.  

JOURNALIST:

But should he be saying that Australia could default on its debt"

JOE HOCKEY:

Barnaby is understandably very concerned about government debt levels and as a good finance spokesperson he is understandably concerned that the government is spending too much money and therefore has to borrow money.

Now if Lindsay Tanner did his job, Lindsay Tanner would have cracked down on massive spending blow-outs.  Lindsay Tanner is a failed Finance Minister.  He pulled back from privatisation, he’s had massive blowouts on spending programs on school halls and computers and solar panels.  He is the biggest spending Finance Minister in recent history and somehow he is pretending to be a neo-con, when in fact he is a reconstructed socialist that is focused on big spending, big government and he’s not doing anything as Finance Minister to pull back on the spending.

JOURNALIST:

Labor is saying that Barnaby should be sacked because he’s sending the wrong message to …

JOE HOCKEY:

Well Labor will say that, of course Labor will say that.

JOURNALIST:

But is he sending …

JOE HOCKEY:

Labor will say anything that they think gets them some political traction.  Labor doesn’t keep its promises. Labor doesn’t keep its promises on health, it doesn’t keep it promises on superannuation.  Labor is about higher taxes, big spending and failed Finance Ministers.

[ends]