THE HON. PETER COSTELLO
TREASURER OF AUSTRALIA

Mr Costello, thanks for your time.

Very good to be with you, Bryan, very good indeed.

Well, you’re out selling the Budget. What’s the reaction from the flock?

It’s going very well. The flock are pleased and I think it’s broadly seen as a very sensible and responsible Budget.

And they’d have to be happy with a tax cut?

Yes, you put $513 per week in their kick and they won’t complain too much, will they?

Who is getting that again?

If you’re a forty-five-year-old male politician from Kooyong with a wife and family, you’re getting $513 in your pocket per week extra— more than under the twelve Labor Budgets put together.

The Iraqi war cost Australia a lot, didn’t it?

Well, I think you’ve got to face facts, Bryan. If you’re going to invade another country, it’s going to belt your projections around a bit.

Now, the higher education package, can you explain that to me?

Certainly. At the moment, the way the system is, and we’re just adding just a mere thirty per cent to this, if you go to a university there are two ways you can pay. You can pay full fees, Bryan—

Up front?

Yes, full fees, that is.

And how much does that cost?

Well, it depends on what course you do.

Say a three-year course?

Yes, a nice little bottom of the range product. About forty gorillas.

Gordon Bennett!

Or else—What’s his name?

Gordon Bennett.

Gordon could perhaps pay using the old H.E.C.S. method, which we’re replacing with another one—

Lay-by?

Yes, lay-by, yes. Nice easy terms, see one of our friendly staff, Bryan.

And how does Gordon pay it back?

He pays it back later when he’s earning a quid and kicking on rather well.

And you charge interest?

Only a bit.

So what would he owe on that?

Well, if Gordon paid this back over perhaps five years, we might be into him for about 45K.

Gordon Bennett! What if he did law or medicine?

Yes, by all means. Are his parents doctors or lawyers?

I don’t know.

He won’t be doing law or medicine if his parents aren’t doctors or lawyers.

So the only people who can do law or medicine are people who have parents who are doctors and lawyers?

Well, if we’ve got the projections right, Bryan, on those figures, that’s where the landing lights are, yes—

So why make them do the course in the first place?

I see. If they’re the only people who can do the course, why bother running the course!

They’d pick it up at home, wouldn’t they?

Good point, Bryan. Of course we’d have to subsidise that, but we’d be able to do that with the money we’re yanking out of the education budget—Good point.

What about the people whose parents aren’t doctors and lawyers? There must be a few of those?

People who go to university and have not got a parent who is either a doctor or a lawyer?

Yes.

Yes. Well, have you read the Budget documents?

Yes.

Well, they’re going to be nurses and teachers, aren’t they?

Gordon Bennett.

Let me be clear, Bryan. We’re not opposed to the mongrel class going to university, they’re just not getting into the professions.

And what’s it called again, this scheme?

H.E.L.P.