TRANSCRIPT

THE HON PETER COSTELLO MP

TREASURER

Interview with Mark Riley

Channel 7

Tuesday, 11 May 2004

SUBJECTS: Budget

RILEY:

Welcome Treasurer. What do low to middle income earners get from this Budget?

TREASURER:

Enormous family assistance for Australia’s families because payments

will be increased and they will be changed so that Mum’s will be assisted

as they come out of the workforce to have children and they will be assisted

as they get back into the workforce and there will be additional childcare opportunities

for them. So, we are re-vamping the whole work and family area and helping Mum’s

who are struggling to juggle work and family.

RILEY:

The surplus has been spent down to about $2.4 billion, that doesn’t leave

much money for an election campaign, is this about it before the vote?

TREASURER:

I think that is a prudent level, I don’t think it does leave room for

much spending, it is our seventh surplus, it is not a huge one, it is a responsible

one, but we should have a Budget in surplus and that has been a big part of

Australia’s economic strength, the fact that we have got our Budget into

surplus and we have kept it there for the last seven years.

RILEY:

These $600 cheques to families. How to vote cheques?

TREASURER:

Well, it is a down payment on the reform. So often the Government says, we

are going to reform something (inaudible) get a benefit (inaudible) in 12 months

or 18 months. We say to the Senate, pass it now, and that payment, that first

instalment of family reform can start before 30 June and what’s more pass

the income tax reductions and you can get a tax cut on 1 July. Now, we have

put it into the Parliament, it is out of our hands, it is up to the Senate now.

RILEY:

Paul Keating described one of his Budgets as bringing home the bacon. How

do you describe this one?

TREASURER:

This is the one that stops the barbeque.

RILEY:

Very good, (inaudible).

TREASURER:

Well, well you know they talk about the barbeque stopper between, the topic

of conversation on work and family, this has stopped the barbeque and it is

worth looking at very carefully.

RILEY:

Thanks very much for your time Treasurer.

TREASURER:

Thanks.