TRANSCRIPT
OF
THE HON PETER COSTELLO MP
Treasurer

Doorstop Interview

ABS House
Belconnen

Thursday, 4 December 2003
10.50 am

SUBJECTS: Population; Investment; Exports; Freedom of Information

JOURNALIST:

Mr Costello, how significant is the milestone of 20 million people?

TREASURER:

I think this is a great day for Australia, 20 million people, it is a time

to reflect on the achievements of the Australian nation. When you think of the

circumstances in which the First Fleet came to Australia it took us until 1959

to get to 10 million people and in 2003 we have hit 20 million people. And I

think it is just a wonderful achievement for Australia and I think it is a time

to reflect on some of the great successes of our country and our society.

JOURNALIST:

And will there be any way of pinpointing that exact person?

TREASURER:

Well, we think that the 20 millionth Australian either came by natural birth

or by immigration today. And the Australian Bureau of Statistics, which is one

of the most technically advanced statistical agencies in the world has pinpointed

today, the 4^th of December 2003 as the day when Australia’s

population hit 20 million.

JOURNALIST:

Treasurer, you said yesterday that the depreciation in the US dollar was partly

responsible for the Australian dollar’s performance this year. What else

is attracting investment to our currency?

TREASURER:

Well, the Australian economy has been performing as one of the stronger growing

economies of the world. It has been a very stable growing economy when you have

seen the US go through a recession, Japan has been through a recession, much

of Europe has been through a recession, the Australian economy shrugged off

the global downturn and continued to grow. So, there are good investment prospects

in Australia but, as I have also pointed out, the exchange rate has been incredibly

volatile this year with a 30 per cent appreciation and I think a very large

part of that is not an Australian dollar story it is a US dollar story.

JOURNALIST:

So do you expect it to appreciate further towards the end of the year?

TREASURER:

Oh, I am not going to comment on future movements of interest rates.

JOURNALIST:

Mr Costello who would you like to see as your sparring partner on the other

side?

TREASURER:

Well, I am not going to name them here, there have been in my time at least

four Shadow Treasurers. I think by and large they have been declining in their

ability, but who they put in as the fifth is a matter for the Labor Party.

JOURNALIST:

What’s your response to, I guess, accusations that you have blocked some

documents that were normally available through Freedom of Information?

TREASURER:

Oh, this matter will be handled in accordance with the Freedom of Information

Act. That is what it is there for.

JOURNALIST:

Is it true that you have intervened to stop the release of these documents

as John Hartigan has…?

TREASURER:

This matter will be handled through the Freedom of Information Act. That is

what it is there for. And the Freedom of Information Act determines those matters

which are available for public release and those matters which aren’t

and it is being handled in accordance with the Freedom of Information Act.

JOURNALIST:

Should a Treasurer be trying to block these kind of documents though?

TREASURER:

Oh, a Treasurer should carefully assess the Freedom of Information Act. That

is what we do.

JOURNALIST:

Is the release of these documents somehow not in the public interest?

TREASURER:

It is a matter for the Freedom of Information Act and the AAT to determine.

JOURNALIST:

Treasurer, how would you describe the environment for exporters at the moment,

Australian exporters?

TREASURER:

I think it is tough for Australian exporters at the moment. The currency is

strong, and that means that they are not enjoying the competitiveness that they

have had in previous years. But having said that, the good news is that the

world economy is recovering and that should give them better opportunities.

JOURNALIST:

Does it more or less balance those things out, the competing, the currency

rising and improving world economy? Is it sort of net/net equal or the dollar

doing, you know, more damage than…?

TREASURER:

Well look…

JOURNALIST:

…in a positive…

TREASURER:

…it depends on various exports and various commodities. But if we had

our way, what would we have? We would have a strong global economy which gave

Australian exporters the ability to export on world markets at competitive prices.

So, we will take whatever help we can get. Thanks very much.