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Transcript of interview with David Koch: Channel Seven Sunrise: 22 January 2016: Australian economy; taxation; election

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The Hon. Scott Morrison MP Treasurer





Subjects: Australian economy, taxation, election

DAVID KOCH: Federal treasurer Scott Morrison joins me now. Good morning to you.

TREASURER: Good morning David.

KOCH: It is a constant theme of mine - it annoys the hell out of me that everyone is so glass half empty at the moment when in fact things are actually pretty good. How sound is the Australian economy?

TREASURER: When you look at what is really happening, more than 300,000 people got a job last year - one of our strongest years of job growth since 2006. Business conditions are at seven year highs. Cost of finance is low. Households have been paying forward on their mortgages and their balance sheets are looking good as are businesses. So we are in a good position relatively speaking around the world. So sure, there is volatility. We know all that. We particularly think about independent retirees when you see the volatility in the markets over the past week. But when you look at the real economy as opposed to what happens in the financial markets, there is a good story about Australia, particularly with the dollar where it is and what that means for our tourism industries, what it means for our exporters, we are well placed but we can't stand still. That's the real issue. We have to continue to get expenditure under control. We have to get our tax system to a place where it doesn't penalise people out there working, saving and investing.

KOCH: So on that, getting the tax system under control, you've flown a lot of kites over the last couple of months on things you are thinking about. When will those recommendations come to fruition? Will we see changes in the up-coming budget to tax?

TREASURER: What you will see in the budget is the next instalment of what we are doing in this area. But the issues on broader big tax changes, that will be put to the Australian people at the election. The issues as we work through the various issues on tax, whether that's on superannuation or other issues like that, we will have a steady process I think of bringing the Australian people along with us on these issues and explaining these changes. And that's important. But the ultimate point is this, David, anything we are seeking to change in the tax system, it will go to the Australian people. They will be the arbiters on this.

KOCH: So we will vote on it first. Speaking of that, you are saying there is too much volatility for an early election. Does that mean you will go the full term?

TREASURER: The Prime Minister has said we are going full term. My point was this - I think Australians want me focussing and the government focussing and the Prime Minister focussing on our economy and jobs. We are not focussing on calling elections and things like this. What we are focussed on is jobs and the stability of our own economy. That's why we are focussed on that.


Others can speculate on elections. What is driving us is what we need to do in the economy. We need to continue to make changes to keep ahead of the game.

KOCH: All right, Scot Morrison, thank you for joining us.


Further information: Julian Leembruggen 0400 813 253