Treasurer Josh Frydenberg’s best bits too boring for son

Federal Treasurer Josh Frydenberg greets his wife Amie ahead of delivering his budget address at National Press Club. Picture: Sam Mooy/Getty Images.

What a way to spend a rare child-free afternoon, with your in-laws and a room filled with more than 480 of the nation’s leftover lobbyists and interest groups talking about debt and the deficit.

That is, of course, what the man of the hour, Treasurer Josh Frydenberg, was up to on Wednesday, revisiting the best bits of his budget to the National Press Club in Parliament House’s packed Great Hall.

Wife Amie joined the audience on a table with Assistant Treasurer Michael Sukkar, this time without the couple’s two young children. The reason?

“My four-year-old son said attending last night’s budget was the most boring thing he had ever done,” Frydenberg shared with the hall.

We are sure Blake Frydenberg wasn’t alone.

Completing the family affair, his in-laws the Saunders got their last-minute seats after reportedly facing some difficulty in sourcing tickets to the event.

For their troubles, they did have to sit with government relations firm Precision Public Affairs, though.

Front and centre was sponsor Westpac and its institutional banking boss Anthony Miller and corporate affairs head Carolyn McCann, both surely feeling right at home with all the red Westpac branding over the tables.

Elsewhere, Banking Association head Anna Bligh was mixing with North Sydney MP Trent Zimmerman and his Mackellar counterpart Jason Falinski, PMC secretary Phil Gaetjens and NSW senator Andrew Bragg.

Illustration: Rod Clement

All were glued to the figures so easily doled out by the Treasurer, who again went through in heavy detail his plans for the blockbuster spending spree.

Missing, however, was any added stimulus for the embattled travel sector, or industry heavyweight Graham “Scroo” Turner of Flight Centre.

Making the most of his time in the capital, the top travel agent was spied in the bowels of Parliament House in the morning, before heading to lunch — fresh from the night before after calling time early on budget celebrations.

Margin Call hears the clock had hardly chimed 8pm, and the Treasurer’s speech only just finished before Scroo was seen handing back in his pass at reception and heading for the exit.

On the other side of the room, Jane Halton took her seat away from the major players appearing in her capacity as chair of the Coalition for Epidemic Preparedness.

She’s quickly become a go-to talking head when it comes to issues of quarantine and vaccination, which, on top of the new takeover bid at Crown, certainly adds to her busy schedule.

It is any wonder Halton has time for lunch.

Deputy PM Michael McCormack got his shout-out in Frydenberg’s speech early on, as did Finance Minister Simon Birmingham as well as Superannuation and Women’s Economic Security Minister Jane Hume (who spent the event next to Westpac’s head of reputational strategy, Jamie Lovell).

Then there were the lobbyists, Canberra Crosby Textor head Clare Kennedy, Newgate boss Bryan Tyson and Nexus boss Nick Campbell.

It might not be a conventional date activity, but in our eyes the lunch was a resounding success for the Frydenbergs, the two grinning as they exited the Great Hall hand in hand.

How romantic.

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Farewell to Costa

Business and sporting identities united in the Victorian satellite city of Geelong on Wednesday to farewell millionaire entrepreneur Frank Costa, who died earlier this month aged 83.

A state funeral was held at GMHBA Stadium, the home of Costa’s beloved AFL team the Geelong Cats, of which he was chairman for 12 years until 2010.

Trucking billionaire Lindsay Fox, who with wife Paula had been in Canberra on Tuesday night for the unveiling of Treasurer Josh Frydenberg’s second pandemic budget, spoke of his friend Costa at the ceremony.

Frank Costa State Memorial Service at GMHBA Stadium on Wednesday May 12. Picture: Alan Barber.

The Australian’s The List most recently estimated Costa and his family’s wealth at $812m, built from a lifelong enterprise in the fruit and vegetable industry.

The late businessman was a founder and former director of the now listed Costa Group, which is capitalised at $1.75bn.

Costa’s brother Robert Costa also spoke at the event, which was attended by Acting Premier James Merlino, along with three former Victorian premiers — Denis Napthine, Ted Baillieu and Jeff Kennett, who is now once again president of the Hawthorn footy club.

Television host and former Collingwood President Eddie McGuire. Picture: Alan Barber.

Former Collingwood president Eddie McGuire was also in Geelong to pay his respects, along with AFL chief executive Gill McLachlan and his chairman and former Wesfarmers chief, Richard Goyder.

Victorian governor Linda Dessau was also among the crowd of about 2000 mourners, along with outgoing Cats chief executive Brian Cook and club president and retiring Medibank chief Craig Drummond.

Former Geelong captain Tom Harley, now Swans CEO and mooted as a contender to take over from Cook to run the Cats, had also made the journey from the Harbour City to remember Costa and his contribution.

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Special delivery

You don’t need six degrees of separation to connect sacked Australia Post chief Christine Holgate to the private equity owners of what is soon to be her new employer (and key Post delivery rival) Global Express.

In fact, just one step will get you to what appears to be the connective tissue between both Sydney-based PE firm Allegro Funds and Holgate — corporate spin doctor and crisis manager Ross Thornton.

Holgate, of course, has had Thornton by her side throughout the unfolding Aussie Post Cartier watch saga, effusive in her praise of the Domestique principal.

She even thanked him personally in her 150-page plus submission to the Environment and Communications References Committee’s Senate inquiry into the national carrier.

And look to whom Allegro’s Adrian Loader and his team turn to when they need assistance getting their message to market — Thornton and his Domestique operatives.

Former Australia Post boss Christine Holgate and Adrian Loader, MD of Allegro in Sydney. Picture: John Feder.

Allegro has only just signed on the line to buy the loss-making Global Express from Japan Post, with the deal targeted for completion by the end of the current financial year.

On release of the news this week that Holgate would then join as Global Express CEO, Thornton posted this to LinkedIn.

“For the past six months I have been Christine Holgate’s PR and strategy adviser,” he wrote.

“I am so proud of the way she has handled the challenges thrown at her in that time, and the strength and courage she has shown.

“There have been some truly horrible days for Christine since October 22, but today is a much, much better day.”

Thornton went on to describe Holgate’s appointment as “an inspirational and visionary hire”.

Shortly after, Holgate was online reciprocating.

“Ross, there are no words I can write to share my appreciation to you,” she said.

“You first picked me up of (sic) the floor, you then gave me the confidence to have a voice again and then you spurred me on to strive further.

“No matter what was thrown at me, you lifted me up, never expecting anything in return … you are one of a very small group to whom I owe my life and future.

“Thank you sincerely. Christine xx”

And now Allegro makes three.

Amie and Blake Frydenberg

Friends of Frank Costa

Ross Thornton