You know the drill. Every year the least thrilling city in the country plays host to a federal budget that calls forth an army of press reporters who clog up every flight, every highway and every three- and four-star hotel available in Canberra to cover this annual ritual. And they do so grudgingly. Every single one of them.
But this year the drudgery arrived with an intriguing twist, landing at the very cliff edge of an imminent election that might be called as early as the weekend.
The last time this happened was in 2022, during the dying days of the Morrison government, when Josh Frydenberg was the all-powerful treasurer (nothing’s changed, he still thinks he is), and when budget nights drew a respectable crowd of corporate big-shots and rich-listers.
Not under Jim Chalmers. Not while Labor is behind in the polls and while Chalmers has spent the week scaring everyone with talk of black holes for the next decade. And not while this budget was hastily sprung upon the nation’s limited class of chief executives, who evidently had better places to be than Canberra on Tuesday.
The loyalists made the pilgrimage, massing slowly through the day outside the Parliament House snacketeria known as Aussie’s. There was Wayne Swan, the former deputy prime minister and chair of industry super fund Cbus, which is still being hammered by ASIC for tarrying on its payouts of death and disability entitlements.
Swan always turns up because the Treasurer is his protege, plus it’s well known that Chalmers has lost a friend in former PM Paul Keating. Once confidants, they used to speak fortnightly except now there’s beef between them – mostly over that mooted superannuation tax hike – so they barely speak anymore.
Lobbyist Simon Banks, of Hawker Britton, was on hand roaming the halls, looking exhausted, as always, with a procession of clients in tow, as did David Gazard of DPG Advisory, desperately hoping for a change in government to flip the fortunes of his business.
Spotted, too, were Financial Services Council boss Blake Briggs, Insurance Council CEO Andrew Hall and, oh yes, Anthony Albanese. He swanned past Aussie’s late in the afternoon, trailed by adviser Fiona Sugden and a couple of ear-pieced security officers.
Happy to risk being stopped, he nervously fidgeted with his tie, then his ear, while talking to a lobbyist. Then he was jumped by Reverend Bill Crews for a brief chitchat, the minister having made the dreary hours of camping out at a table finally worthwhile. Mostly these folks were hanging out for the other annual tradition of beverages hosted by Senator Deb O’Neill and Victorian MP Dan Mulino in O’Neill’s office, the room bursting with the body heat of a thousand tiny laundromats.
Lobbyists Ben Taylor and Clare Gunning made brief appearances alongside a clutch of corporate middle-managers: QBE’s Kate O’Loughlin, NAB’s Chris Venus and the ASX’s Moe Elrifai, who’s clearly sweet with O’Neill now. She’s spent the past three years thoroughly smashing the ASX over the fiasco of its CHESS replacement. Interesting, too, that Swan turned up, because normally he’s got better places to be, his appearance lending much credence to the rumour that Mulino will probably succeed the retiring Stephen Jones as assistant treasurer soon enough.
But it was all a pre-game for Labor’s budget dinner fixture at the Hotel Realm (sponsored by VISA), where the party proved it will do anything to scratch a dime together. A raffle for the suckers – happy to place bids on top of their exorbitantly priced tickets – offered a top prize of a Paspaley bracelet worth $6000. Labor’s national secretary, Paul Erickson, was spotted pacing the marble outside, the phone wedged in his ear, of course, ahead of the 7pm start time.
Anna Bligh arrived with wing woman Fiona Landis, this being Bligh’s last budget as CEO of the Australian Banking Association. We hear no shortage of people are contacting recruiters to GTFO of the place.
Former ABC news director, now Commonwealth Bank executive, Gaven Morris reluctantly agreed to have his photo taken as he walked inside. What’s the big deal? It’s not like he can’t attend fundraisers now.
Council of Australian Life Insurers CEO Christine Cupitt was an early arrival, appearing this time without Linfox director Peter Yates, and twinning with her head of corporate affairs, Keely O’Brien. They were followed inside by TG Public Affairs principal Michael Choueifate and Accommodation Australia CEO James Goodwin.
More Coverage
Add your comment to this story
PolyNovo a little fast and loose with its ASX facts
Setting the record straight? Polynovo’s colourful entrenched chair, David Williams, should have gone and the preferred replacement turned down the role. Try finding that in its ASX statement.
Legal eagles launch a broadside at ACU
Barristers and notable figures have put their names to a 20-page letter pointing out why the Australian Catholic University may have breached the ‘standards for continued registration’.
To join the conversation, please log in. Don't have an account? Register
Join the conversation, you are commenting as Logout