TRANSCRIPT
THE HON PETER COSTELLO MP
Treasurer

Malvern Victoria

Thursday, 3 July 2003
2.45 pm

SUBJECTS: Negative Gearing, Mark Latham

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.