Andrew Leigh

MEDIA RELEASE

KING CHARLES III NOW ON AUSTRALIAN COINS

The first coins featuring the effigy of His Majesty King Charles III have now been manufactured by the Royal Australian Mint and released into circulation.

The first coins bearing the King’s effigy are the $1 circulating coin. The first batch of 3.5 million coins have been delivered to the banks and will now start appearing in cash registers across the country.

The remaining denominations of circulating coins will be released progressively in 2024, based on bank demand.

A variety of collector and investment coins bearing the King’s effigy are expected to be available for sale early next year.

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RADIO INTERVIEW
ABC CANBERRA DRIVE WITH ROSS SOLLY
TUESDAY, 5 DECEMBER 2023

SUBJECTS: Reserve Bank decisions; Cost of living support; Preventive detention

ROSS SOLLY: So, as you’ve been hearing in the news, the Reserve Bank today – no surprises – but they’ve decided to keep the interest rates on hold. I’m sure that’s going to be coming as a big relief for a lot of homeowners around the country and here in the national capital and surrounding districts.

Assistant Minister for Competition, Charities and Treasury Andrew Leigh I’m sure is also quite relieved. He is just back from competing in a triathlon, in fact, in Western Australia – as you do. Minister, thanks for coming on the show.

ASSISTANT MINISTER FOR CHARITIES, COMPETITION, EMPLOYMENT AND TREASURY ANDREW LEIGH: A real pleasure, Ross. We don’t have Ironman triathlons in the national capital, which is why you’ve got to travel to get to them. But a wonderful event.

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RADIO INTERVIEW
2CC CANBERRA AFTERNOONS WITH LEON DELANEY
FRIDAY, 1 DECEMBER 2023

SUBJECTS: Productivity Commission interim report into philanthropy; Reform of tax deductions system for charity donations; House of Representatives Committee Report on Employment Services; Advanced manufacturing policy; Cost-of-living relief in MYEFO.

LEON DELANEY: Well, there's a lot going on in the Federal Parliament at the moment. I think there's only one more sitting week left to go. Assistant Minister for Competition, Charities and Treasury, Assistant Minister for Employment, and local member for Fenner, Dr Andrew Leigh, good afternoon.

ASSISTANT MINISTER FOR CHARITIES, COMPETITION, TREASURY AND EMPLOYMENT ANDREW LEIGH: Good afternoon, Leon. Great to be with you and your listeners.

DELANEY: I've got that right, haven't I? There's one more week to go.

LEIGH: There's a week for the Senate and a day for the House, an extra day to deal with any legislation that gets amended in the upper House.

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RADIO INTERVIEW
ABC RADIO MELBOURNE DRIVE WITH ALI MOORE
MONDAY, 27 NOVEMBER 2023

SUBJECTS: Reform of the RBA; Appointment of a new Deputy Governor of the RBA; Dismissal of Mike Pezzullo.

ALI MOORE: You'll know that review into the Bank's operations that happened earlier this year and it's led to legislation that's now being introduced to Federal Parliament. The legislation is going to create a new board that's going to have the sole job of setting interest rates and the reforms are also going to remove a little known mechanism that allows the government to overrule the Reserve Bank. Also, the Government has announced today the new Deputy Governor of the Reserve Bank, a central banker who is going to come from the UK. Andrew Leigh is Assistant Minister for competition, Charities and Treasury. Andrew Leigh welcome to Drive.

ASSISTANT MINSTER FOR CHARITIES, COMPETITION, TREASURY AND EMPLOYMENT ANDREW LEIGH: Thanks, Ali. Great to be with you and your listeners.

AUSTRALIANS URGED TO GIVE GENEROUSLY

Tuesday 28 November is ‘Giving Tuesday’. Created eleven years ago, Giving Tuesday follows the shopping day ‘Black Friday’. Where Black Friday encourages spending, Giving Tuesday encourages generosity.

Right now, many charities are feeling squeezed. In some cases, donors and volunteer support has fallen, while demand for help has risen. The end of the year is a time when some charities, including food relief and crisis support organisations, are at their busiest.

CHARITY IS AT THE HEART OF AUSTRALIA

Across the world, democracy is under pressure. According to one set of experts, the world entered a ‘democratic recession' in 2016 and is yet to recover. Russia, Peru, Turkey and Myanmar are among the nations whose democracy scores have slumped.

While democracy is down, populism is up. According to a recent study, populism is at an all-time high, with more than 25 per cent of nations now governed by populists. Populists tend to erode democratic institutions and undermine economic growth. Fifteen years after populists take power, income per person is 10 per cent lower than it would otherwise have been.

Worst yet, populists make catastrophic risks more likely. Confronting dangers such as nuclear war, bioterrorism, climate change and rogue AI requires mobilising our intellectual powers, strengthening institutions, cooperating internationally and remaining calm. Yet by definition, populists are anti-intellectual, anti-institutional anti-international and anti-calm.

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RADIO INTERVIEW
ABC THE MONEY WITH RICHARD AEDY
THURSDAY, 23 NOVEMBER 2023

SUBJECTS: Merger reform.

RICHARD AEDY: Let's start with competition. For consumers, here isn't enough of it. In 17 industries, we have more market concentration than America does. And in a few it's very, very obvious. Four big banks, two big supermarkets, two big airlines. Part of the reason for this is mergers and the way that they've been regulated. The Government wants to change that and has just put out a consultation paper. The Minister for Competition is Andrew Leigh. Minister, thanks for joining us. What is wrong with our merger control regime at the moment?

ASSISTANT MINISTER FOR CHARITIES, COMPETITION, TREASURY AND EMPLOYMENT ANDREW LEIGH: Richard, we've seen a big increase in market concentration and a big increase in markups. We've had the lousiest decade of productivity growth in the postwar era, and many people think that that might be because our markets aren't dynamic enough. Pretty much wherever you turn, from banking to baby food to beer, Australian consumers only have a couple of choices. And in that environment where large firms are ruling the roost, I think it's important for us to take a careful look at our merger laws.

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TV INTERVIEW
SKY AFTERNOONS WITH KIERAN GILBERT
THURSDAY, 23 NOVEMBER 2023

SUBJECTS: Inflation; Capacity Investment Mechanism; Consultations on merger reform.

KIERAN GILBERT: Joining me live in the studio is the assistant Minister for competition, Charities and Treasury. And the assistant Minister for employment, Andrew Leigh. Thanks for your time.

ASSISTANT MINISTER FOR CHARITIES, COMPETITION AND TREASURY ANDREW LEIGH: Pleasure, Kieran.

GILBERT: Lots to talk about today. Let's start with Julia's report there on the comments by the RBA Governor on homegrown inflation. We're above comparable nations now internationally. Are you hoping that, like the US, like Europe, ours will track down over coming months? That's the hope is it? The anticipation?

LEIGH: That's what we're anticipating, Kieran, and that's certainly what we're seeing. Australian inflation peaked lower and later than other countries, so it makes sense that its trajectory will take a little longer to come back into the target band. Based on forecasts, both the Reserve Bank and Treasury have inflation returning to the target band. Inflation is pernicious. It damages savings, it decreases the incentive to invest. The Reserve Bank even says it can worsen inequality. So, it's important that we get inflation back under control. And on Michele Bullock’s speech, her comments also reflect the very strong employment performance we've seen. We’ve now had 20 months in a row with unemployment below 4%, and of course, 17 of those 20 months have been under this Labor government.

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RADIO INTERVIEW
2CC DRIVE WITH LEON DELANEY
MONDAY, 20 NOVEMBER 2023

SUBJECTS: Merger reforms; Government’s cost-of-living measures; independence of Reserve Bank; Stage 3 tax cuts; multinational taxation.

LEON DELANEY: The Federal Government is considering some major changes to the rules around mergers and acquisitions. To tell us why, Assistant Minister for Competition, Charities, Employment, this, that and everything else, as well as our local Member for Fenner, Andrew Leigh. Good afternoon.

ASSISTANT MINISTER FOR CHARITIES, COMPETITION AND TREASURY ANDREW LEIGH: Good afternoon, Leon. Great to be with you.

DELANEY: Mergers and acquisitions. It sounds like something that, you know, the fellow on Wall Street, Gordon Gekko, might be excited about, but why is this important to ordinary everyday Australians?

LEIGH: Ultimately, Leon, mergers goes to cost‑of‑living. If you get big firms getting together, and they end up driving up prices, then that's bad for consumers. It can also be a risk to productivity if you've got mergers that aren't good for growth.

Obviously most mergers will pass the test, but over recent years, we've seen quite a few other jurisdictions – the US, UK, Canada and European Union – all review or amend their mergers rules. And an environment in which we've seen increasing market concentration and increasing mark‑ups, Jim Chalmers and I are concerned that we need to review our merger laws to make sure they're getting a good deal for Australian consumers, and the economy at large.

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Press Conference
Canberra
Saturday, 18 November 2023

SUBJECTS: Cost-of-living; Labour force figures; Energy efficiency measures for ACT public housing.

ASSISTANT MINISTER FOR COMPETITION, CHARITIES, TREASURY AND EMPLOYMENT ANDREW LEIGH: Thank you for coming along to Ainslie Village today. My name is Andrew Leigh, the Assistant Minister for Competition, Charities, Treasury and Employment. I should say at the outset that we're holding this press conference in the afternoon rather than the morning, because I was running an ultramarathon this morning, part of the Stromlo Running Festival, which is a terrific running participation event here in the ACT, with hundreds of people participating in this great community festival.