Senator the Hon Katy Gallagher

JOURNALIST: These are some pretty bleak numbers in there. What can Australians take away from the sluggish growth?

SENATOR THE HON KATY GALLAGHER, MINISTER FOR FINANCE: Well, the national accounts numbers reflect I think what we've been saying for some time, which is that the economy is weak. It is responding to the consecutive interest rate increases that we've been seeing over the last year or so. And, you know, that's been reflected in the national accounts, but the Treasury forecasts are that the economy will continue to grow but there's no doubt that it's slow and sluggish. 

JOURNALIST: Should all workers get five weeks paid annual leave?

GALLAGHER: Look, that's usually a matter for workers to negotiate with their employers. We've just settled our bargaining position here across the APS and that isn't reflected in the government's you know, agreement that we've reached with our employees. But you know, these matters are usually negotiated between workers and their employers. 

JOURNALIST: The ACT [ACTU] is pushing for it though. Would you support that considering the current economic climate?

GALLAGHER: Well, I support workers negotiating with their employers about their conditions of employment, and as I said, the agreements that I've been responsible for, as the government negotiating with the Commonwealth APS has not reflected that change.

JOURNALIST: And it's the final day of sitting today when will we see movement on the rework of Direction 99?

GALLAGHER: Look, I understand that that is imminent. You know, the Minister for Immigration has been working on this and I have no doubt that this will be done in the soonest possible way, based on advice from the department.

JOURNALIST: Just on inflation getting in the target band. Are you still expecting that to happen by Christmas?

GALLAGHER: Well, the Treasury forecasts have that happening at the end of this year. And they, you know, those were the latest forecasts that were printed through the Budget process. So that's what's guides the government's advice.

JOURNALIST: Michelle Bullock was obviously saying yesterday, she still doesn't think that'll happen until 2025. So, do you stand by the Christmas assumption?

GALLAGHER: Well, they're the Treasury forecasts. I know the bank will update their forecasts when they do as they normally do, and it's not unusual for those forecasts to be slightly different, but they're largely consistent, is that we're continuing to see inflation moderate.

JOURNALIST: The Coalition has been harping on a lot about GDP per capita, how important is that metric to your figures, your numbers, your assessments?

GALLAGHER: Well certainly a component in the national accounts is population but you also saw that public investments, so investments by government, and also household consumption contributed to the result in the March quarter. So, there's a combination of factors that contribute to the results we saw in the accounts yesterday. 

JOURNALIST: Has the government been working with the opposition on its changes to Direction 99?

GALLAGHER: You'll have to ask the Minister for Immigration, sorry. I've been in about sixty hours in estimates, so I haven't had the opportunity to talk with the Minister for Immigration. But I know that he is working on it, that and they are taking advice from departments, and that it's happening as a matter of priority. Thank you.