TRANSCRIPT: TUGGERANONG PARKWAY PRESS CONFERENCE, 5 OCTOBER 2020

11:28AM

E&OE

Subjects: Budget;

WITH: SENATOR THE HON. ZED SESELJA, ASSISTANT MINISTER FOR FINANCE, CHARITIES & ELECTORAL MATTERS, SENATOR FOR THE AUSTRALIAN CAPITAL TERRITORY & ALISTAIR COE MLA, LEADER OF THE CANBERRA LIBERALS.

 MICHAEL McCORMACK

Thank you very much for joining us and it's really great to be here with Zed Seselja, the ACT Liberal Senator, and Alistair Coe, the ACT Liberal leader who on October 17 is going to become the Chief Minister and we need a Chief Minister who understands the importance of infrastructure, understands the importance of roads and making sure of course, that we back everything that we do with jobs. Because that's what today's announcement is about.

Of course, tomorrow we have the Federal budget and when Josh Frydenberg goes to that dispatch box at 7.30 tomorrow night, he's going to be talking about the jobs and infrastructure budget, making sure, of course, that we back everything we do with that jobs component. Jobs, jobs and more jobs.

Today is a $7.5 billion commitment. A $7.5 billion tick of approval to our economy, to those workers in our economy to make sure that we put the right infrastructure in the right places, to build on the connectivity, to build on the strengths of our nation.

It's been very difficult through COVID‑19. It has been extraordinarily difficult. But we have made sure that everything we've done with the $314 billion of assistance thus far to get the right health outcomes, to make sure that we backed our economy and tomorrow night, we're going to be producing a budget which is big on jobs, big on infrastructure and backing those things which we know are going to help through the COVID recovery.

We've had droughts, we've had bushfires, we've had flooding in some parts of the nation, but we want to make sure that this infrastructure package that we're announcing today – making sure that those 82 new projects, 33 existing projects, have the support, have the money, have the backing of the Federal Government. We've done it with the support of State and Territory Governments. Yes, they've come in and they've identified their priority projects and we've said yes. We have said $7.5 billion worth of yes. We are making sure that if it's a project in far flung remote Western Australia or right here in Canberra, that we're backing it all the way.

I'll get Zed to detail some of the projects that we're supporting through the $155 million that we're putting down to help Canberra, to support the ACT, such as the Molonglo River bridge upgrade and the South West corridor upgrade and others, but to ensure that we get those jobs on the ground, that's why tomorrow's budget is so important. That's why when Josh Frydenberg takes the stand for that all-important budget announcement that he's backing jobs all the way, making sure that we support our economy. That's what we've done all the way through. So I'll ask Zed to add to those remarks, then I'll ask Alistair to also add to that and happy to take any questions after that.

ZED SESELJA

Thank you, Deputy Prime Minister. It's great to be here with the Deputy Prime Minister Michael McCormack and of course the next Chief Minister of the ACT, Alistair Coe. It is a great day for Canberra when we're able to invest over $150 million in new infrastructure investments right here.

We've seen the growth in the Molonglo Valley in the western part of Canberra putting strain on our transport system and so whether it's the Molonglo River bridge crossing that we're committing over $87.5 million to, or whether it's indeed the much needed upgrades to the Tuggeranong Parkway which we're committing $50 million to, in addition to more money for the Monaro Highway, now $115 million and indeed some planning work for Parkes Way. These are really critical investments because we've seen significant growth in our city but in the case of the Monaro Highway of course we've seen a lot of growth over the border and we've been catering for that growth in traffic. But what we've seen in the last couple of years from the Liberal‑National Government is the biggest investments in Canberra in a generation. Over $1 billion in new investments have been announced. Massive road projects – whether that's the $155 million today, the over $100 million for the Monaro, the $150 million for the Barton Highway, as well as William Slim Drive, Kings Highway, huge extra investments in our national institutions such as the War Memorial and the National Gallery. Today builds on that. I'm particularly pleased with the upgrades to the Tuggeranong Parkway because I know that if you live in Weston Creek, if you live in Molonglo Valley, if you live in Woden or Tuggeranong, this is an absolutely critical road and it is time that it was upgraded. It will be a very, very important first step I think in what will be the significant upgrades that are needed, including the widening of that road as we go north of Cotter Road here.

ALISTAIR COE

Thank you very much Deputy Prime Minister and to the ACT Liberal Senator. It's wonderful to be with you both and to join you for this very important announcement. Of course, the ACT have not had the infrastructure investment from the ACT Government to keep pace with our growth. In this part of the capital we have the Molonglo Valley growing very quickly, but unfortunately the growth has surpassed the infrastructure. So it's great that the Federal Government, the Liberal‑National Coalition Government have come on board and made this substantial investment for the ACT.

I'm very pleased to say that a Canberra Liberals Government should we be elected in a couple of weeks' time will match this investment. That is this investment will be doubled and we'll have even more money going into infrastructure in Canberra, more jobs will be created and these projects will actually get off the ground. The Canberra Liberals are committed to doing everything we can to make the ACT the best place to live, work and raise a family. Everything that we do is about lowering taxes and delivering better services for Canberrans. The upgrade to the Monaro Highway, to the Tuggeranong Parkway and of course the Molonglo bridge are much needed infrastructure investments in the ACT and the Canberra Liberals look forward to working with the Federal Liberal‑National Government to make these investments a reality.

JOURNALIST

Are you hoping the ACT Government will match, sorry, the Labor Government if they're elected will match this ACT announcement?

MICHAEL McCORMACK

Well, I'm hoping that they will because indeed we asked each State, each Territory for their priority lists. That's what we've been provided, that's what we're supporting as well as other projects. As I said before, 82 projects, 33 existing ones, which we're backing to the tune of $7.5 billion of new money. We're backing to the tune of that money, but we're putting the confidence in those sectors in getting the available workers right across the country. Because that's what it's all about, it's about getting hi-vis workers on the ground. It's more than that though. It's also about the café providing the egg and bacon rolls nearby the work site. It's about the motel providing the accommodation for those workers who may be finding themselves in rural and remote Australia, places they've never been before, building a road that's going to provide such vital connectivity to get that product, that world’s best food and fibre to port, to plate elsewhere in the world. It's about making sure that our economy is ticking along the way it should be.

Thankfully we came into COVID with a position of economic strength. We were almost, almost there as far as the surplus is concerned. It was just a matter of weeks away and of course then the global pandemic hit and we've had to invest and we've been thankful that we have been able to do that. $314 billion of money to ensure that we got the right health outcomes, to make sure that we cushioned the effects of the economy. Tomorrow's budget builds on that.

JOURNALIST

Infrastructure Australia has previously released a list of projects which it says deserves funding. I know that the AIS and Commonwealth Bridge project in Canberra are on that list, we haven't seen funding for those. Why have these projects been funded instead? Is it because you're using this program to help boost, maybe, the Canberra Liberals chances in an electorate they need to win?

MICHAEL McCORMACK

We've taken on board the priority lists of the Governments of the day and we've made sure that we want taxpayers' dollars being put to best value. That's what we're doing here. Those other projects that you mentioned through Infrastructure Australia, well we can look at those as we go forward. We've already put on the table $100 billion of infrastructure, a record amount of money, over a rolling 10-year period, and as one project is finished another one comes on board. We're building a better Australia. We're building a better Canberra. That's what we do as Liberals and as Nationals. You've just heard Alistair Coe say that there hasn't been enough done in Canberra as far as infrastructure is concerned and he wants to turn that around. I look forward to being able to do that after October 17 with him to make sure we've got the right infrastructure in the right places in Canberra so that we can build a better Canberra.

JOURNALIST

You're spending a lot of money on an airport in Western Sydney but what are you doing to help ease congestion in the area?

MICHAEL McCORMACK

We're also putting a lot of money into the Metro West, also putting a lot of money in Western Sydney to the Prospect Highway. We're spending a considerable amount of money and the Western Sydney Nancy Bird International Airport is making sure that there are 11,000 jobs on the ground during construction and 28,000 direct and indirect jobs in the lifetime of the project, indeed after construction. This is a significant driver of jobs investment and whether it's a Nancy Bird International Airport, whether it's the Metro West, they're generating thousands upon thousands of jobs, both direct and indirect and not just on the work site themselves but in so many different sectors and so many different areas. That's why I've worked closely with the members for Western Sydney to ensure – Melissa McIntosh and others – to ensure that the right investment is there for Western Sydney. It's one of the growing areas of Australia. We want to make sure it can be its best self. Yes.

JOURNALIST

There is a feeling among people in the area that it's sucking up a lot of the money that could be used on projects that will help them now.

MICHAEL McCORMACK

We're busting through congestion, whether it's Western Sydney or elsewhere. We're making sure that we've got the right investment. I've been to the airport site. They're shovelling and moving hundreds upon hundreds of tonnes of earth every day. They're making sure that they've got jobs not just at the airport site but right around Western Sydney. We're getting the links right. Andrew Constance, I spoke to him last night and I've communicated with him again this morning. He's delighted with the investments that we're doing in Western Sydney and elsewhere around New South Wales.

JOURNALIST

Can you explain how and why the Princes Highway upgrade hasn't been targeted for this fast track –

 MICHAEL McCORMACK

Well we're making sure the Princes Highway has the investment it needs. We're making sure the Pacific Highway, the Newell Highway, Singleton Bypass, all of those bypasses, highways, byways, we're making sure that we've got the right investment. I was at the South Coast the other day talking to people about what we need to do with Princes Highway. Yes, once we get the Pacific Highway completed it's going to be taking priority. It's a road that obviously needs priority. We work with the New South Wales Government, we work with State Governments. I appreciate it's not just a New South Wales road but we work with State Governments right throughout the nation to bring about their priorities, to work closely with them and we'll be doing that into the future.

JOURNALIST

The Treasurer says the budget is based on the assumption there will be a vaccine for COVID‑19 in the next year or so. Is that too rosy a prediction considering we don't know a vaccine will come, when it will come, how it will come, how much it will cost?

MICHAEL McCORMACK

Well, he's a Treasurer of hope and we're all very hopeful that we get the vaccine. All reports indicate that it's in its late developmental stages. I know Australian universities are working very closely with Oxford and other great institutions right around the world to develop a vaccine. I know there are human trials going on at the moment and there is every hope that there will be a vaccine in the early stages of next year. What we want to make sure is that all Australians know that when that vaccine does become available and it's been properly tested, that it will be freely available not just to every Australian but indeed to our Pacific Island friends as well, because that's so important too because we do the right thing as a neighbouring nation to those Pacific Islands who mean so much to us as well.

JOURNALIST

Should a budget be based on more than hope though?

MICHAEL McCORMACK

There's more than just hope in tomorrow night's budget. There's jobs, there's infrastructure, there's investment. There's certainly going to be great investment for Canberra, for every capital city, for every regional area in Australia. And I know as the leader of The Nationals, as somebody who's lived in the regions all his life, that one in three Australians live in the regions and call it home.

The regions have been very strong through COVID‑19 and relatively COVID free. We want to back them to make sure that they can realise their potential and unlock even more of the potential in the regions.

JOURNALIST

On the legislated tax cuts for high income earners, it would mean that someone earning $200,000 would get a cut of $11,000. Is that fair?

MICHAEL McCORMACK

Well we want people, whether they're high income earners or whether they're low income earners, to be able to have more of the money that they earn to be able to spend in the economy. We've seen, because of border closures and everything else, [car horn] – there's another toot of approval for the money that we're bringing forward today for infrastructure. So many people are delighted about it. But what we want to do is make sure that more Australians have more of the money that they earn. It's their money and we want to be able to give them the opportunity and the choice to be able to spend it. Yes, if they want to save it that's a good thing too because COVID has been able to provide one thing, that's actually lowering household debt in some instances. That's important too. But we need more money flowing around the economy. That's why we've invested $314 billion of assistance and that's why we are providing tax cuts. If you look at the alternative, Labor, will they support the tax cuts? Who knows? Labor are high taxing. We are doing an infrastructure spend to ensure that we build ourselves out of this COVID‑19 recession, to ensure that Australians can be their best selves.

JOURNALIST

On that, are you concerned that Labor will try to stand in the way of bringing forward stage 3?

MICHAEL McCORMACK

Well, you probably should direct that question to Anthony Albanese or Jim Chalmers. We see Jim Chalmers is actually in denial about why the recession has hit. We came to the recession, we came to COVID‑19 in a position of strength. Labor, they wouldn't know how to spell surplus let alone produce one. Haven't done one since 1989 that was when Duran Duran was still providing hits. I mean Labor has no idea about how to manage the economy. We do. That's why we're making the investments that we are announcing today.

JOURNALIST

How much of this money is –

MICHAEL McCORMACK

$7.5 billion, it's new money. It's new money.

JOURNALIST

That's not out of the pool that you've already announced?

MICHAEL McCORMACK

It's new money. It's new money going forward. We are backing our infrastructure plan. We have a $100 billion record amount of infrastructure. Anthony Albanese was in infrastructure for years, never had that amount of money let alone the new money that we're providing today.

JOURNALIST

Just to clarify, the $7.5 billion is on top of the $100 billion?

MICHAEL McCORMACK

Correct.

JOURNALIST

It was revealed on the weekend that a large chunk, I think it was more than half of the Urban Congestion Fund has been unspent. Will this infrastructure announcement be another example of the Government overpromising and underdelivering?

MICHAEL McCORMACK

Well we work with States too and we expect them to do their fair share of heavy lifting. Certainly when it comes to whether it's urban infrastructure, urban congestion busting, we've done a lot. We're making sure that we do provide a lot of the urban congestion busting infrastructure that we said we're going to. But obviously we work with States, some States are better than others. I look forward to working with the new Chief Minister Alistair Coe here in Canberra to build a better Canberra and I took forward to working certainly with Deb Frecklington in Queensland after October 31 to build a better Queensland.

JOURNALIST

So are you saying the under spend is entirely the fault of the States?

MICHAEL McCORMACK

No, I'm not saying that at all. What I'm saying is that we have to work with States for many of these infrastructure projects and we also, let's not forget, have had a considerable bushfire element. We have had a considerable COVID element. That has placed stresses and strains on every sector of the economy, finding the right people in the right places.

What we want to do is make sure that Australians know there are jobs there, certainly in the construction sector, certainly in agriculture, certainly in the resources and mining and 45,600 jobs identified by the Regional Australia Institute in regional Australia. So there are jobs there. We're backing them. Tomorrow night's budget is going to be a jobs, jobs, jobs budget. I urge and encourage those Australians who perhaps have found themselves on the welfare queues for the first time in their careers to look around. There are jobs there. We urge and encourage them to take them and we'll do everything that we can to support them during this crisis.

JOURNALIST

What are you going to do to make sure that the States actually spend the money and spend it quickly?

MICHAEL McCORMACK

I've spoken and communicated with each and every one of my State and Territory Infrastructure Transport Ministers overnight. I've spoken to many of them again this morning and indeed many of the Opposition Leaders. They're delighted. They're backing our infrastructure spend. Given their delight, given their support, given their positivity, let's have this team Australia moment. Let's use this $7.5 billion, this moment right here and now, to build a better Australia, to build on the jobs and to get out of this COVID recession.

JOURNALIST

Are you going to impose time limits or is there anything in place to make sure they actually spend it on time?

MICHAEL McCORMACK

Well, we'll be working with them and with some of the announcements tomorrow, I don't want to pre‑empt anything that the Treasurer is going to say, but with some of the components there will be, of course, time limits. We do want money to hit the ground. That's why many of the projects are shovel ready, they're ready to go. Many of the 82 new projects are ready to go. Of course, the 33 existing projects, well they're already under way and we want to fast track those.

JOURNALIST

Minister, what assurance do you give to the public that this record infrastructure spend will be spent prudently considering that we're still not sure exactly that the issues from the Leppington Triangle, the ANA report, those issues haven't been addressed. You haven't been able to say that you have confidence in the Infrastructure Department that those issues have been addressed.

MICHAEL McCORMACK

I've got every confidence in the Infrastructure Department. Look, the Leppington Triangle, yes, it was way over the odds. That's why we're doing a review on it. Of course I'm disappointed that we spent way too much money and we're making sure that there is a review so that that does not occur again. That said, in years to come, we own the land now and when they do build upon the Nancy Bird Airport, already a $5.5 billion spend, already supporting 11,000 jobs, already going to support the premises, the 28,000 jobs through the life of the project after construction's completed, but we now own the land for future runway expansion, for future development, for future infrastructure.

But the money that we spent was way too much. We acknowledge that. The Prime Minister's acknowledged that. The Infrastructure Minister at the time has also acknowledged that and that's why there is an independent review into that process to ensure it doesn't happen again.

JOURNALIST

How do we know that it won't happen again? How do you know this spend won't be 10 times over the odds?

MICHAEL McCORMACK

Well, we're doing a review to ensure that this doesn't happen again, and the Infrastructure Department is looking at its processes and protocols to ensure it doesn't happen again.

JOURNALIST

Do you want that report to be made public when it's completed?

MICHAEL McCORMACK

Well, the right measures will be put into place to ensure that it doesn't happen again.

JOURNALIST

Do you want to see it made public though?

MICHAEL McCORMACK

I'll be having those discussions with the Infrastructure Secretary. I'll be having those discussions going forward. But the premise is that we've spent way too much money. The premise is that in time at leasown the land so for future expansion of the Western Sydney Airport that will be at least in Commonwealth property, such that we don't have to re‑invest and probably spend a considerably more money thaotherwise would have had we not bought the land now.

JOURNALIST

Will the tax cuts be – specifically the stage 2 tax cuts, will they be back‑dated to July 1?

MICHAEL McCORMACK

You don't have long to go – tomorrow night, 7:30, the Treasurer is going to make all those sorts of announcements and many more besides. It's going to be a jobs, jobs and jobs, infrastructure, infrastructure, infrastructure budget. He'll be addressing those tax cuts matters but rest assured Liberals and Nationals are about tax cuts. Labor, well they're about higher energy prices. They're about less infrastructure. They're about more taxes. That's the difference. You'll see it tomorrow night when Josh Frydenberg addresses the Parliament and addresses the nation at 7:30. I'm looking forward to it. I know so many other Australians are too. It's been a very difficult year. That's not to say that the budget is going to be the panacea for all ills but rest assured Liberals and Nationals will always have Australian's backs. Rest assured we'll always make sure that we create the parameters around which there will be more job creation. We want to back small businesses. We want to back individuals. That's why we want to bring tax cuts forward. That's why we've already got the lowest tax rate since 1940. I'm looking to October 17 when Alistair Coe gets elected as the Chief Minister for the ACT and I'm very much looking forward to continuing to work with Senator Seselja on building a better Australia.

Thank you very much.

ENDS 11:51AM