PM Transcripts

PRIME MINISTER:  Well Cabinet’s been meeting this morning and this afternoon here in Melbourne focused on a 21st century economy, focused on jobs, focused on economic growth. We have been discussing a range of measures and policies that will drive our economy forward and deliver for our children and grandchildren the jobs that they deserve. Our country needs to preserve our high wage generous social welfare net economy in the years ahead and we have had great news overnight. We are here in Melbourne, not all the Cabinet is here, but one notable absentee is a great Victorian, Andrew Robb, the Trade Minister, who has achieved an outstanding outcome with the Trans Pacific Partnership negotiations in Atlanta. It went in to extra time, two days of extra time but it got a great outcome and this will open up markets across the whole Pacific, across the whole Pacific. This is forty per cent of the world’s economy including Japan, the United States, Australia of course, Latin American countries, Canada, Malaysia, it’s a long list. This is a very big achievement. It’s the biggest multilateral trade outcome for decades. We will see big markets opening up for Australia whether it is in agriculture, or in services or in manufacture. This is the foundation for our future prosperity. Our future, our jobs, our children’s jobs depend on us having access to these big and growing markets and this opens so many doors simultaneously and at the same time we have preserved our vital national interests. There are no changes being made to our laws or regulations relating to pharmaceuticals, or drugs, there are no changes to the PBS, no increase in the cost of medicines in Australia, which was a matter of concern. So this is a great outcome and while we are in, we’re in Andrew’s city without him; nonetheless his achievement is being very much the centre of our discussions today.