The unique opportunity of interviewing our Country’s leader and Prime Minister Mr.Scott Morrison over telephone came my away immediately after the 2019-20 budget was presented in the Parliament. The entire experience of being in contact with the PM’s office before, during and after the interview as well as the actual interview with the PM was very pleasant and proved to be an example of courtesy, collaboration and respect. It is heartening that no less than the Prime Minister’s office leads the way in demonstrating that Australia is one of the most civilised countries in the world. The PM’s office was in contact with Indusage to familiarise themselves with the questions and the interview took place exactly at the specified time with the PM being more than willing to articulate his Government’s plan to secure Australia’s financial future. The PM’s unmistakable passion for responsible financial governance was on display throughout the interview.

The Prime Minister spent 10 minutes with Indusage on telephone to answer some questions on the 2019-20 budget and financial future of the country. Some excerpts from the interview:

On how the budget could manage to achieve a surplus, the PM stated that “strong budget relies on a strong economy” and that “we carefully assess what the expenditures are going to be and the revenues are going to be”. He went on to state that his Government “relies on keeping expenditure under control and keeping taxes under control”. He went on to state that the budget surplus is his Government’s initiative that “Relies on people getting off welfare and into work” and “changing people from being welfare recipients into tax payers”. This has been made possible by “responsible economic policy settings” that has enabled the Government to reach the mark of a surplus budget. The PM also elaborated on investing and supporting the small businesses – many of which are owned and managed by Indian Australian community.

On the question of how the budget addresses weak income growth, the PM stated that tax benefits supporting small and family businesses, as well as increased investment in infrastructure projects from $75b to $100b – an increase on 33% was aimed to drive the economy and job growth. The investment in infrastructure would “connect rural areas to our ports as also to relieve congestion in our cities”. The PM is very conscious that we may be moving into some difficult times with the global economy – and his strong belief is not to have higher taxes but lower taxes to face up to this challenge.

On the subject of housing debt being high and the dropping property prices, the PM stated that he would not take the “big sledge hammer” to the housing market. As per the PM this down turn in the housing market has resulted in a soft landing so far and that it was necessary to “take the heat out of the top”. The Government’s first act would be to not raise the capital gains tax, and not to abolish or alter the current negative gearing on investment property.

On the subject of why this budget proposes to drastically cut foreign aid, the PM stated that his Government will “continue to maintain a credible overseas aid program increasingly focussed on our region – SW Pacific, Indo Pacific”. The PM recollected that he was the first ever Australian PM to visit Fiji for bilateral talks and stated that his Government is “working closely with them to support their strong economic growth”. The PM concluded by stating “At the end of the day we have to pay for our hospitals, schools, veteran’s pensions and that will always be our first priority”.

As per the PM, “there are no big changes” to superannuation, but the one change the Government is proposing is to free up the work test for people who are already in their retirement so as to “give Australians more control over what they earn and their savings”.

While Indusage concluded by wishing the Prime Minister the very best in the forthcoming federal elections, the Prime Minister was one step ahead and in keeping with our country’s reputation of being a multicultural society when, he rang-off with a traditional “Namaste”!!