E&OE TRANSCRIPT
TV INTERVIEW
SKY AM AGENDA
THURSDAY, 12 MARCH 2020

SUBJECTS: The Government’s Economic Stimulus Package

ANNELISE NIELSEN: Jim Chalmers thank you for your time. What's your first reaction to what you've heard this morning?

JIM CHALMERS, SHADOW TREASURER: Good morning, Annelise. Our inclination in the Labor Party is to be supportive of what's being announced today. We want to be responsible, constructive and to pick up a point that Laura and Andrew were making a moment ago, we want to make sure that this support gets out the door. The Government's got a record of making big announcements like drought relief, bushfire relief or infrastructure funds and had trouble getting the support out the door. We need this money in the economy, into the hands of Australians, and circulating through the shops and businesses of this country.

KIERAN GILBERT: What do you say, Mr. Chalmers, to the point that the Prime Minister has made and the Treasurer, that this is a more targeted demand stimulus, that this is in line with that Ken Henry mantra of going early and going households, they say they're more targeted because it's not going to everyone?

CHALMERS: The Government unfortunately spends far too much time trying to differentiate from Labor. There are elements of this package which are extraordinarily similar to what we've been calling for and to what Labor has done in the past. In many ways what's being announced is an admission that they were wrong to diminish what Australians achieved together during the GFC, that there is a role for stimulus, there is a role for cash payments. We will be overwhelmingly positive, constructive and responsible about that because we do need this support circulating through the economy.

GILBERT: Do you think this will be enough for Australia to stay out of recession? And do you buy the number that the Treasurer put on it in terms of the impact on economic growth in the June quarter? Do you think that's a realistic number?

CHALMERS: It remains to be seen whether what's been announced today is big enough or will be deployed fast enough to prevent job losses, to prevent businesses folding and to prevent a downturn in the economy. We all hope that what's being announced today is successful. Every Australian has a stake in getting through what is a difficult period. Australians are very anxious and in the Labor Party we want to play a constructive role in helping Australians through this. It remains to be seen whether it's enough. We won't know for some time whether it's been enough but we'll get a sense of it as we go.

The figures that the Government has released today are not comprehensive. They haven't released an updated set of comprehensive forecasts for the Budget bottom line. We need to see that information so we can establish a baseline. The test that the Prime Minister has set is whether or not jobs are lost, whether or not businesses fold and whether or not there's a downturn in the economy - those tests are appropriate and every Australian needs the Government to pass those tests.

NIELSEN: Do you share any of the concerns that this job seeker payment if people have to go through Centrelink and it could take up to five days to process that? That's a long time if you're living hand-to-mouth and if you're quarantined.

CHALMERS: We do have concerns about whether what's being proposed here for casual workers, who don't have access to sick leave will be effective. We think it's a step in the right direction to address one of the most substantial concerns that we have. No Australian worker should have to choose between doing the right thing by their co-workers and being able to afford to live and eat. We want to make sure that when workers do the right thing by their colleagues, that businesses and the Government do the right thing by them. We're worried that the delay in signing up for payments might be a deterrent for some people. We'll work our way through the detail of it and we'll have more to say about it in the coming days.

GILBERT: Do you support the way the Government's put together that cash flow payment to the business community in order to try and protect jobs? Is that a model that you would have gone with?

CHALMERS: There’s a couple of elements to that. We support the payments for apprentices and we support the instant asset write off. After all that was a Labor policy which was originally cut by this Government and then reinstated. The other element is the grant payments to businesses and we want to have a look at the detail of that. We’ll be as supportive as we can be but we want to make sure that that money finds its way also into the pockets of workers. We want to make sure that there is some transmission between the money that the Government is giving businesses and make sure that they look after their workers. There's no guarantees in it as I understand it so we'll work our way through that detail.

GILBERT: When we look at this situation, obviously it's economic, but it's a massive health crisis as well. Bill Shorten, this morning, the former Labor leader said he wants to see more drastic social distancing measures put in place. He says we've only got days to deal with this. Do you agree with him?

CHALMERS: I know that this is one of the main things that the Chief Medical Officer and the other experts are grappling with. We should always take the advice of those experts, but this is a key consideration. I think it's right to raise it. I know that the Chief Medical Officer, the Chief Medical Officers of the states and other medical practitioners are working through this on a daily basis. It's one of the big concerns that people have and we should follow the advice when it's made available.

NIELSEN: Bill actually used the word draconian measures. Would you support more draconian measures in Australia?

CHALMERS: I support taking these issues seriously and I support taking the advice of the experts.

NIELSEN: Shadow Treasurer Jim Chalmers. Thank you for your time.

ENDS