Hockey Presents Credentials To Obama; Abbott Meets Kissinger

The former Treasurer, Joe Hockey, has presented his credentials to President Barack Obama as the new Australian Ambassador to the United States, whilst his former leader, Tony Abbott, has met with Dr. Henry Kissinger in New York.

Within ten minutes of each other this morning, Hockey and Abbott both posted pictures of their meetings on Twitter.


Hockey, 50, replaces the former Labor leader Kim Beazley, who held the post for 7 years. Hockey was the Liberal member for North Sydney from 1996 until his resignation last October. He was Treasurer from 2013 but was dropped by Malcolm Turnbull last September in the aftermath of the toppling of Tony Abbott.


Kissinger, 92, was Secretary of State under Presidents Richard Nixon and Gerald Ford between 1973-77. Abbott, 58, has been the Liberal member for Warringah since 1994. He was prime minister between 2013-15.

Joe Hockey (Lib – North Sydney) – Valedictory Speech

The former Treasurer, Joe Hockey, has delivered his valedictory speech to the House of Representatives.


Hockey will resign this week and is expected to be appointed Australian Ambassador to the United States, replacing former ALP leader Kim Beazley. [Read more…]

Hockey Talks Of Economic Reform In Speech To London Institute

The Treasurer, Joe Hockey, has addressed the Institute of Economic Affairs in London on the future of the Australian economy.

HockeyIn his speech, Hockey discussed the importance of economic change. “Economies, and their enterprises, that are slow to adapt will be left behind,” he said.

Hockey compared Ford and Google: “The Ford Motor Company, which revolutionised manufacturing and the auto industry in the 20th century, currently has a market capitalisation of $53 billion after 110 years of operation. Google is more than 7 times larger in just 15 years.”

Structural reform will “lay the foundation for a more promising and secure future,” Hockey said. “Over the next decade, the traditional macroeconomic levers of monetary and fiscal policy will not deliver enduring growth… With fiscal policy constrained and monetary policy limited, the only alternative to facilitate growth is to undertake further structural reform in response to global change. Structural reform is indeed the key plank of Australia’s economic strategy under the Abbott Government.” [Read more…]

2013-14 Budget Comes In With $48.5 Billion Deficit

The 2013-14 Federal Budget finished with a deficit of $48.5 billion.


The Final Budget Outcome was announced today by the Treasurer, Joe Hockey, and the Minister for Finance, Senator Mathias Cormann. [Read more…]

G20 Finance Ministers And Central Bank Governors Meeting Concludes In Cairns

The meeting of G20 Finance Ministers and Central Bank Governors has broken up in Cairns and Treasurer Joe Hockey says progress has been made on the group’s aim to lift global economic growth by 2% of the next five years.


Hockey said: “The IMF and OECD have looked at over 900 measures put forward by countries – of which 700 are new – and estimate our efforts could lift global GDP by 1.8 per cent through to 2018. Their analysis has been released. We are 90 per cent of the way there to meet our 2 per cent goal.” [Read more…]

Hockey And Cormann Hail Mining Tax Repeal As Best Possible Deal In The National Interest

Following today’s vote in the Senate to repeal the mining tax, the Treasurer, Joe Hockey, says the government has delivered on another of its election commitments.


Hockey, speaking at a joint press conference with the Finance Minister, Senator Mathias Cormann, said the government had secured the best possible deal it could in the national interest. He attacked the Labor Party for dealing itself out of negotiations. The Palmer United Party was only relevant, Hockey said, because the ALP would not negotiate. [Read more…]