TRANSCRIPT OF
THE HON PETER COSTELLO MP
Treasurer

Doorstop Interview

Adelaide Convention Centre

Friday, 6 June 2003

2.15 pm

SUBJECTS: Labor Party, Housing, Liberal Party Convention,

Paid Maternity Leave

JOURNALIST:

Treasurer, are you worried about facing Beazley with a triple bypass?

TREASURER:

Look, the Labor Party have got their own problems but their problems aren’t

who is leading them, their problem is they don’t know what they stand for. They

have spent years being opportunistic, they have opposed everything that was

good for the country, and the public doesn’t have any faith in them, and that

is their problem.

JOURNALIST:

But is Kim Beazley showing ticker though, by challenging Simon Crean?

TREASURER:

Well, I am not going to get into who is better, or should I say, who is least

worst, between Crean and Beazley. I am just making the point, their problem

is much, much deeper than both of those men. Their problem, is, that they have

been opportunistic, they have opposed what was necessary for this country and

its future, and they don’t know what they stand for.

JOURNALIST:

Have you got a preference?

TREASURER:

I am not getting into the question of who is the least worse between Crean

and Beazley.

JOURNALIST:

Have you seen the new research paper on housing and is there anything in there

you believe has merit?

TREASURER:

Look, I haven’t read it. I have heard the general ideas that are around, from

my perspective, it is up to individuals. If individuals want to sell 50 per

cent of their property off to the bank, I suppose they should be entitled to

do so but…

JOURNALIST:

(inaudible)…

TREASURER:

…but, whether or not many people would find it attractive to sell 50 per

cent of their property off to a bank and mortgage the other 50 per cent is a

matter for them.

JOURNALIST:

Is it something you think has merit?

TREASURER:

Look, I think most Australians, they want to own their house. If there are

Australians that want to sell 50 per cent of their house to a bank and mortgage

their own 50 per cent interest, then provided that they have the capacity to

service their obligations, I suppose that is a matter for them. But, as I say,

most Australians want to own their home.

JOURNALIST:

(inaudible)their car or something else, down the track, where would it stop?

TREASURER:

Well as I said, if Australians wanted to sell off 50 per cent of their cars

and mortgage the rest, I suppose that is a matter for them. But most Australians

want to own a car, most Australians want to own a home.

JOURNALIST:

Wouldn’t you see people getting into further debt?

TREASURER:

Well as I said earlier, the important thing, is, people are able to maintain

their payments. I am not recommending this as a type of investment, but if there

are people who think that it is a kind of investment that could suit them, provided

that they don’t get into trouble maintaining their payments, that is a matter

for them to decide. I make this point, nobody is going to be forced to do this,

nobody should be forced to do this, and for most Australians I don’t think they

would find it attractive. But if there were groups of Australians that did want

to sell off 50 per cent of their homes to a bank and mortgage their own 50 per

cent interest, well provided they can maintain their payments it is a free society.

JOURNALIST:

Would you stand in the way of banks (inaudible)?

TREASURER:

Well it is a free society as I said. If people find this attractive, it is

a free society, I wouldn’t promote it, but it is a free society.

JOURNALIST:

Is paid maternity leave something that you would like to see the Government

adopt?

TREASURER:

I am not getting into that.

JOURNALIST:

What are people saying to you? How are you being received here?

TREASURER:

I have just addressed the Business Forum Lunch, fabulous turnout, enormous

support from the business community for the Party and for its economic performance.

And I think people think that economic management has been very, very important

to Australia and to the fact that we have come through this very difficult time.

JOURNALIST:

Did the subject of tolerance come up?

TREASURER:

I was speaking about business and the economy…

JOURNALIST:

Business tolerance? Social tolerance?

TREASURER:

Well businesses should be tolerant too. We should all be tolerant…

JOURNALIST:

Are you going to…

TREASURER:

…we should love each other…

JOURNALIST:

…are you going…

TREASURER:

…even the press and the politicians can be tolerant to each other.

JOURNALIST:

…are you going to talk more about a society of tolerance or other issues

over the weekend?

TREASURER:

Sure I have got a lot of things to say. But, we won’t be saying them all over

the weekend, no. There is plenty of time to say lots of things.

JOURNALIST:

Have you written your speech for the Prime Minister yet?

TREASURER:

No, I don’t think I have yet. No.

JOURNALIST:

Have you put any thought into it yet?

TREASURER:

Of course I will think about that before I do it. Of course I will.

JOURNALIST:

The Prime Minister said this morning that paid maternity leave was not off

the table. What is your opinion of paid maternity leave?

TREASURER:

Well as I said, I am not getting into that question today. The Government

has set up a committee which is looking at all of these issues and I am not

getting into the issue today. OK, thanks.