Budget 2022: the Pinstripe set flock to the room where it happens

How good is the budget? There was no wiping the smile off Josh Frydenberg’s face as the ebullient Treasurer handed down his fourth budget in a refreshingly non-socially distanced and post-COVID Canberra. Done with the pandemic, the Treasurer is now grappling with a war in Ukraine, demands for more defence spending, and a rising chorus demanding relief to deal with the rising cost of living. All in an election year, no less!

Not that any of that appeared to be weighing on The Fry on Tuesday evening as he strode up to the dispatch box on the night of the year when Parliament’s doors opened to the pinstripe set for the fresh-pressing bonanza.

James Symond, left, and Justin Hemmes arrive at Parliament ahead of the budget speech on Tuesday night.Credit: Alex Ellinghausen

There to support The Fry’s fourth budget was the usual Rat Pack of Merivale boss Justin Hemmes and his “best mate Jimmy” – home loans tzar-turned-pub owner James Symond. The pair strode into Parliament’s Marble Foyer just before 6pm before being swiftly escorted to a private do in the Treasury wing, with a fast-walking Hemmes telling CBD: “We’re here with Josh. We’re always here to support him.”

But there were some new additions to the Member for Media’s pack. Radio host and Sky News presenter Erin Molan was part of the Treasurer’s posse – in the same week her senator dad Jim Molan nabbed the last winnable slot on the NSW Senate ticket – as was her on-air colleague Dave Hughes who said he was looking forward to meeting “anyone in power” on the evening. The funny man memorably quipped in 2018: “Josh Frydenberg came to a stand-up comedy gig I did in Lorne earlier this year, and now he’s Deputy Prime Minister.” Well Hughesy, now you’re at the budget. We can’t wait to see what happens in two months’ time.

For Molan, the evening was strictly about work. “We asked our listeners to give us questions for Josh. We’re worried we might be too late, and he might’ve already formed policy,” she laughed.

Dave Hughes, left, Erin Molan and senator Jim Molan.Credit: Alex Ellinghausen

As usual, the uber destination for the evening was the traditional $1750 a plate Federal Budget Dinner in the Great Hall while upstairs in the Mural Hall, the Paul Fletcher-hosted Bradfield Dinner attracted almost 400 guests. Around the building, a smorgasbord of quieter drinks party took place.

While the PM’s suite attracted the ultimate VVIPs for the night – Sydney philanthropist Ros Packer is a perennial invitee – it was Financial Services Minister Jane Hume who got the real power set. The Victorian Senator’s suite pulled a camera-shy Google Australia boss Mel Silva, NAB chair Phil Chronican and KPMG national chair Alison Kitchen. Hume wants Australia to become a top-10 data and digital economy by 2030 – and she’s clearly got the sector on board.

Others spotted en route to the office included MYOB chief executive Greg Ellis, PwC national business leader Martina Crowley and VMWare managing director Brad Anderson and Westpac chief executive Peter King. The big banking boss was an early arrival to Parliament on Tuesday and quick to give his stamp of approval to the numbers. “In terms of the budget, the country’s in pretty good shape, and we’ll see that in the deficit [being lower than expected], but we do need to help a few people that have got higher cost of living at the moment. I think the assistance being provided to the low-and-middle income earners is really appropriate,” he told CBD.

Also spotted in the Senate wing? Caledonia boss Will Vicars because who doesn’t love a Rich 200 member in the room. Over in the House of Representatives, Jason Falinski hosted a drinks do which has become a budget night tradition for the MP who chairs the government’s standing committee on economics and on tax and revenue. Falinski was apparently chalking up the budget as a win given the government has now adopted half the recommendations put forward in a tax and revenue committee report into employee share plans. There to hear Falinski was former Australian Chamber of Commerce and Industry director Paul Nicolaou – who is also a prominent Liberal fundraiser – and Australian Distillers Association chief executive Paul McLeay, who is also former NSW ports minister.

But there was one Liberal MP who appeared to be checking out of the budget night fiesta early. Former Attorney General and outgoing Westralian MP Christian Porter delivered his valedictory speech on Tuesday afternoon and by 5:45pm was spotted with a suitcase making a getaway through Parliament’s front entrance as the first guests started arriving for the Budget Night dinner. Five minutes later, he was back.

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