SUBJECTS: G20 Summit in Pittsburgh; NRL Grand Final
PRESENTER:
On to our next guest, and it is a rare delight I have to say to have him on. The Prime Minister and the Treasurer are in the United States of America where they will talk about the planet's future both financial and environmental. Speeches and meetings have started which will see Australia's top politicians at the United Nations and the G20 Economic Forum.
Talking to audiences both home and abroad it will be interesting to see how the Treasurer and the Prime Minister fare. And joining us now from [Washington] is the Treasurer Wayne Swan. Good morning sir.
TREASURER:
Good morning James.
PRESENTER:
What's the main message for you, as opposed to the Prime Minister? What will you be putting forward at the meetings?
TREASURER:
Well James I've been meeting with the Treasury Secretary here Mr Geithner, the chair of the Federal Reserve, Mr Bernanke and other senior decision makers in economic matters particularly today. Just talking to them about the global recession, what the prospects are for recovery, what the outlook is like, how stimulus is working here in the United States and how its worked at home in Australia. And, of course, some will also be raising the issue of climate change tomorrow and the day after when the Leaders meet at the G20. But the main focus of my discussions here have been about the economic outlook, the impact of the global recession which has led to very strong unemployment in the United States - almost 10 per cent of the workforce, and what the prospects are here for economic recovery.
PRESENTER:
Now Treasurer I was just wondering, how strong is the argument for you and for Australia to say - hey guys look at us, we're best practice.
TREASURER:
There is no doubt that if Australia had not put in place economic stimulus we would be in recession. If the Liberals had had their way and the National Party had had their way Australia would be in recession right now. The economic stimulus in Australia has been absolutely fundamental in supporting employment and keeping open the doors of tens of thousands of businesses right around the country. And I think that has now been observed by many international observers including those who I have spoken to here in the United States. They recognise that because of the global recession and the dramatic drop in demand, substantial economic stimulus has been required globally, and in Australia it has been one of the most successful packages put in place.
PRESENTER:
Now Treasurer I just thought I would let everyone know, and perhaps yourself that you have one of your backbenchers here with us - the esteemed Federal Member for Solomon -doing a fantastic job. He is moonlighting Treasurer, perhaps there might be a word that needs to be said. Damien Hale is with us.
TREASURER:
Good morning Damien. What music is he playing?
HALE:
Well we haven't actually gone onto any music yet but I'm a bit of a country and western fan so hopefully I can get some of those up Wayne, during the day. How have you found the meetings over there? Are you enjoying the visit?
TREASURER:
Well Washington is one of those places where you have got so much history and of course, it's a place so important to not only the global economy but also to the long-term sustainability of the planet. That's why it's important to be here talking to decision-makers.
The G20 is a very important meeting that we are going to tomorrow and the day after. That brings together leaders from developing and developed countries around the world. And to have a United States president participating in that is refreshing I think for many. And he is someone who is determined to provide a degree of leadership on economic matters but also on matters environmental which are so important for our country.
PRESENTER:
The G20 is obviously a big meeting, but also there is a big meeting tomorrow night at Olympic Park in Melbourne.
TREASURER:
Too right there is.
PRESENTER:
When the Brisbane Broncos are up against the Melbourne Storm. What is your feeling on that Treasurer? I think that the Broncs will really have to play well to beat Melbourne in Melbourne. But everyone is writing the Broncos off and I think any side that's got Darren Lockyer at the helm - I think they should be a chance.
TREASURER:
Well nobody should ever write the Broncs off. There are a lot of people who wrote them off seven of eight weeks ago; remember when they got flogged. And they have just come back with the inspiring leadership of Lockyer, but also many others have done so well. But the Storm are quite a unit. And they have also got quite a few Queenslanders in their side as well - people like Cameron Smith. So it's going to be one hell of a game. I'm very hopeful the Broncs can do it but you've got to say the Storm have been impressive not just this season but for a very long period of time. It will be, I think, one of the great games of Rugby League.
PRESENTER:
At the end of the day, I suppose, as long as Manly is out of contention, who really cares?
TREASURER:
That's right.
PRESENTER:
That's right. Anyway, thanks a lot Wayne for being able to catch up with us and good luck over there. The media back here has been very positive in regards to where Australia's sitting in relation to the rest of the world. And certainly yourself and the Prime Minister are certainly front and centre on the global stage, and holding your own and representing Australia as we would expect you to be. So congratulations on that and good luck for the rest of your stay in the United States mate and I'll see you back in Canberra in a few weeks time.
TREASURER:
Thanks a lot Damien.