Topic: Wayne Swan

 

E&OE

 

 

GEORGE NEGUS: Depending on what side of the political fence you’re on Wayne Swan being gonged International Treasurer of the Year is being met with either humble acceptance or snide giggles. Oddly enough, along the way, the Opposition is taking the credit. Earlier, I spoke with the Liberals' Andrew Robb. You're the Opposition's Finance Minister, I understand?

 

ANDREW ROBB: That’s right. That's correct, George.

 

NEGUS: You're the alternate Finance Minister of the country.

 

ROBB: I am indeed.

 

NEGUS: Right so if you got a gong like this one, that Wayne Swan got, you'd be pretty chuffed, I imagine?

 

ROBB: Well, I would be, certainly if I'd felt I deserved it, yes, I would be. In fact, any time I see an Australian get an award, you know, I feel pretty good about it. But honestly on this one, I'm still trying to work it out.

 

NEGUS: Well I was going to say, I'd put money on the fact that you don't think he deserves it or that he's earned it. Am I right?

 

ROBB: Well, it's not just whether I do or not, George. I think if you ask the average person in the street who average person in the street who keeps stopping me wherever I go, that'd be the answer too.

 

NEGUS: Let me quote you exactly what the people who gave me this award said. They said that Mr Swan has been awarded this for his "careful stewardship of Australia's finances and economic performance, both during and since the global financial crisis. Throughout that time, Australia has not only avoided falling into recession, it has been the – quote-unquote – best-performing of the world's developed market economies”. That's hardly equivocal. That's a very serious suggestion to make, if it's wrong, from an international perspective.

 

ROBB: Well the facts about the economy are correct. But it's a question of why, I suppose. You know, I think if I was Wayne Swan four years ago - just four years ago - and I took over an economy with $45 billion of assets and $30 billion surplus…

 

NEGUS: He has more or less acknowledged the performance of previous treasurers and governments, actually.

 

ROBB: Well, I don’t care. What I'm saying to you is, if I took over all of that, I do think - and a pipeline full of business which really kept us going through the worst of the global financial crisis - I mean, the fact of the matter is, George, that we've seen waste at a level we've never seen before. Billions and billions and billions of dollars. We've got a debt now approaching a quarter of a trillion dollars gross debt.

 

NEGUS: What you seem to be saying though is that they're useless economically in the handling of the economy, so somehow or another they've managed to con this international magazine, which gives this gong out every year, into thinking that they're miles better than they really are.

 

ROBB: Well this is a Euro zone magazine. Compared to Europe, you know, we're miles ahead. The rest of the world is a basket case at the moment - all of the major, developed economies from the US right through Europe. We've been blessed with the China phenomena, and this Government took over the best economy in the world by a long shot. The fact is, despite all that, we now are in a very vulnerable position. If we weren't, he'd deserve it. We are now in a very vulnerable position if commodity prices come off.

 

NEGUS: Good to talk to you.

 

ROBB: Thanks George, all the best.

 

ENDS