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Speaker 1: Today on Fear and Greed. The political temperature is heating up,

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Speaker 1: with the government and opposition trading barbs over polls, unions,

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Speaker 1: and the GST. The A Triple C says airport's income

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Speaker 1: is surging in part thanks to car parking fees, and

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Speaker 1: the new five dollar note is set to break from tradition. Plus,

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Speaker 1: the Edelman Index shows a deterioration in trust across the country,

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Speaker 1: and Donald Trump is scheduled to talk to Vladimir Putin tonight.

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Speaker 1: Welcome to Fear and Greed, daily business news for people

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Speaker 1: who make their own decisions. It is Tuesday, the eighteenth

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Speaker 1: of March twenty twenty five. I'm Michael Thompson and good morning,

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Speaker 1: Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: The main story this morning. The political climate is heating up,

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Speaker 1: with election polling, the GST carve up and disturbing really

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Speaker 1: allegations involving the militant CFMAU causing heartache for both Labor

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Speaker 1: and the Coalition. No one is spared there, Sean. Starting

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Speaker 1: with the holes which haven't been positive for Opposition leader

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Speaker 1: Peter Dutton. Yesterday, mister Dutton was blaming government mud slinging

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Speaker 1: for his less favorable showing in polls in recent weeks,

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Speaker 1: adding that he won't change his weight.

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Speaker 2: It's not great for Peter Dutton in terms of the

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Speaker 2: poles at the moment. The AFI Freshwater Strategy poll released

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Speaker 2: yesterday shows that Peter Dutton's personal ratings are down for

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Speaker 2: two months in a row. Anthony Alberanizi is once again

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Speaker 2: the preferred prime minister forty six percent to forty two

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Speaker 2: percent for Peter Dunton. That's the first time since October.

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Speaker 2: Peter Dutton's never actually been the preferred prime minister, but

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Speaker 2: they've just been even keeled until what we saw yesterday.

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Speaker 2: The coalition's primary vote has slipped, hurting prospects of a

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Speaker 2: coalition victory. In fact, the Freshwater polling Group says the

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Speaker 2: most likely outcome based on the numbers ALP seventy one seeds,

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Speaker 2: coalition sixty six seats. Of course, you need seventy six

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Speaker 2: seats to take the lower House, so label need to

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Speaker 2: support of five independence and or Green's to government. On

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Speaker 2: a two party preferred basis, the coalition is ahead fifty

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Speaker 2: one to forty nine percent. But as we have said

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Speaker 2: for a few weeks now, the most lightly outcome is

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Speaker 2: ALP wins as a minority government.

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Speaker 1: In shortly, ALP is under pressure over the GST Carver up.

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Speaker 1: We're talking about a bit about this one yesterday, and

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Speaker 1: yesterday we had Treasurer Jim Chalmers come out and say

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Speaker 1: that he will not intervene in the GST allocation. After

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Speaker 1: it his home state of Queensland saw its funding cut

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Speaker 1: by two point four billion dollars next financial.

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Speaker 2: Year nineteen billion to sixteen point six billion. That must

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Speaker 2: hurt Jim Charmers. Really, Yeah, certainly the state's treasurer wasn't

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Speaker 2: happy about it. David Jenetsky, he slammed the COMWORF Grants Commission.

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Speaker 2: He accused it of disputed methodology to allocate the GST.

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Speaker 2: He said Queensland had been left to foot the bill

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Speaker 2: for the failures of New South Wales and Victoria during

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Speaker 2: COVID nineteen. Look, I can't say I'm an expert in

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Speaker 2: GST Carver, but isn't it predictable that state treasurers do

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Speaker 2: this every time?

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Speaker 1: Oh, It's entirely predictable. I'm just curious about this idea

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Speaker 1: of the Treasurer's ability to intervene.

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Speaker 2: It's independence, so we can't that's what I was thinking.

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Speaker 1: So saying that you wouldn't intervene is kind of a

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Speaker 1: little bit pointless.

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Speaker 2: Really, yeah, yeah, And Jim Chalmers pointed that out yesterday.

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Speaker 2: He also was talking about the budget which we've got

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Speaker 2: coming up next week. He said that cost of living

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Speaker 2: will be front and center. He also indicated that he

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Speaker 2: thought the deficit, so we've had two years of surpluses.

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Speaker 2: The deficit that will come in might not be as

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Speaker 2: high as some people expect. Finally, Dr Chalmers also warned

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Speaker 2: that ex Cyclone Alfred might drive up construction and grocery prices,

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Speaker 2: not good news because of course that's inflationary.

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Speaker 1: A cost of living budget sounds a little bit like

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Speaker 1: an election budget.

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Speaker 2: He does, doesn't.

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Speaker 1: It's got that sniff about it now and Opposition that

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Speaker 1: to Peter Dutton says the Coalition will introduce US style

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Speaker 1: organized crime law legislation giving police powers to target the

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Speaker 1: leadership of groups that engage in patterns criminal behavior.

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Speaker 2: He was responding yesterday to news of alleged crup behavior

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Speaker 2: involving by kids in the CFMEU on Victorian building sites,

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Speaker 2: including the bashing of women. The laws would mean that

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Speaker 2: bosses and kingpins of groups such as outlaw motorcycle gangs

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Speaker 2: could be jailed even if they distanced themselves from crimes

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Speaker 2: their organizations commit. According to report in the finn Review,

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Speaker 2: he called the CFMEU this is Dutton called the CFMEU

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Speaker 2: a modern day mafia operation with an entrenched culture of

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Speaker 2: criminality and corruption. The coalition will introduce the legislation as

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Speaker 2: soon as next week. He's called on labor to support it.

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Speaker 1: Now.

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Speaker 2: The opposition also wants to restore the Australian Building and

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Speaker 2: Construction Commission and d register the cfmeu's construction division.

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Speaker 1: How about that for a description. He didn't miss, did he.

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Speaker 2: You whack them? I mean he'll introduce the legislation next week,

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Speaker 2: but as soon as the budget comes out on Tuesday night,

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Speaker 2: the government will call an election and it will.

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Speaker 1: Be caretaker mode.

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Speaker 2: Then it's just, yeah, that's exactly.

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Speaker 1: Nothing happens local markets.

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Speaker 2: What happened yesterday, Well, there's INPASX two hundred pounced. It

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Speaker 2: was up nearly one percent to eight hundred and fifty

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Speaker 2: four points, pushed higher by materials and energy stocks. So

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Speaker 2: forty s KEW Metals, RIOBHP, Woodside, Santos, they all did

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Speaker 2: pretty well. The banks were mixed well, bank was up

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Speaker 2: a fair bit. It did well. Retailers underperformed. Best on

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Speaker 2: the day was Mineral Resources. Haven't been able to say

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Speaker 2: that about that company for a while. It rose more

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Speaker 2: than eleven percent. Other battery metal companies also did well.

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Speaker 2: A couple of smaller takeovers going on at the moment.

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Speaker 2: Romilius has made a bid for Spartan Resources and the

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Speaker 2: other one. I mean that pushed up Spartan Resources share

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Speaker 2: price by nine percent, which was good for those shareholders,

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Speaker 2: but smart pay Holdings. It's a small company, but it

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Speaker 2: came out and said it's in takeover talks with at

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Speaker 2: least at least two parties. It's share price jumped forty

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Speaker 2: seven percent. Good day for them, not bad at all.

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Speaker 1: Just a quick little shout out Sean before we move

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Speaker 1: on to our newsletter. It comes out tomorrow, but it's

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Speaker 1: been growing and growing and growing in recent weeks. Plenty

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Speaker 1: of people want to know what you really think about

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Speaker 1: some of these stories. You might be one of those people.

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Speaker 1: If so, head along to Fearangreed dot com dot au,

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Speaker 1: pop your email addressing and you two can receive the

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Speaker 1: free Fear and Greed newsletter comes out every Wednesday, So

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Speaker 1: get on board now. Lots more to come. We'll be

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Speaker 1: back in a moment with the rest of the day's

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Speaker 1: business news.

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Speaker 2: Sewn.

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Speaker 1: The Competition Watchdog says airports at Melbourne, Sydney, Brisbane and

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Speaker 1: Perth have never been more profitable and income from parking

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Speaker 1: lots of surging. I could have told them that, yeah.

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Speaker 2: It's a frustrating story, this one isn't it doesn't it

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Speaker 2: irritate you pay so much.

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Speaker 1: So often end up paying more for parking than you

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Speaker 1: do for the flight.

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Speaker 2: Well you can, yeah, you can say thirty sixty minutes

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Speaker 2: at Sydney or Brisbane is twenty three bucks, seventeen bucks

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Speaker 2: at Perth, fifteen bucks at Melbourne. That is just outrageous.

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Speaker 1: Yeah, for that really short term stuff. As soon as

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Speaker 1: you're going away for a day or two, you're.

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Speaker 2: Looking you can get easy into hundreds is training. Competition

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Speaker 2: and Consumer Commission's latest airport monitoring report for the last

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Speaker 2: financial year shows revenues at those four airports Melbourne, Sydney,

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Speaker 2: Brisbane and Perth increasing twenty three percent title passengers one

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Speaker 2: hundred and fifteen million, though domestic and international passenger numbers

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Speaker 2: are about five percent below the pre pandemic levels. Across

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Speaker 2: the four airports. They make a billion dollars from aeronautical operations,

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Speaker 2: which i'd imagine is their core business.

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Speaker 1: He would hope.

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Speaker 2: So now three hundred and eighty eight million dollars from

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Speaker 2: car parks. I just think that's outrageous.

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Speaker 1: That is extraordinary.

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Speaker 2: So billion dollars from the core business, another forty percent

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Speaker 2: of that from the car parks, and then there's about

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Speaker 2: seventy million dollars from transport access services. I'm outraged, Michael,

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Speaker 2: you sound it, I am. I just really hate paying

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Speaker 2: some of those parking fees at airports.

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Speaker 1: Would the retail operations, the rents and everything, would that

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Speaker 1: fit into the aeronautical operations within the main business.

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Speaker 2: I don't know what it wouldn't fit in to the

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Speaker 2: car parking business.

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Speaker 1: No, it's not the transport access services process of elimination, Sean.

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Speaker 2: Yes, I presume I would have thought that was separate.

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Speaker 1: Maybe it is.

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Speaker 2: You've given me research, give me.

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Speaker 1: I love giving you homeway. It makes you so happy.

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Speaker 1: Now speaking of something that will make you happy, Sean,

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Speaker 1: it's a bit of bad news. The Edelman Annual Trust

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Speaker 1: Barometer paints a fairly bleak picture with a jump in

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Speaker 1: people worried that they're being lied to by government, by

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Speaker 1: business leaders and by journalists.

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Speaker 2: Yeah, it's a fairly dismal view of people's attitudes towards institution.

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Speaker 2: The Leman Barometer twenty eight countries in Australia. It had

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Speaker 2: more than eleven hundred respondents. Statistically significant, it's hard word

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Speaker 2: to say. Around half of respondents are worried about their jobs.

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Speaker 2: They're threatened by trade conflicts, they're worried about a potential recession,

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Speaker 2: they're worried about automation. Generally, the more money people have,

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Speaker 2: the more trustful they are of what's going on in society,

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Speaker 2: though the majority of people rich end poors think that

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Speaker 2: the rich take more than their fair share. Somewhat disconcertingly,

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Speaker 2: nearly one in three see hostile activism as okay, a

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Speaker 2: viable means to drive change. Hostile activism one in three.

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Speaker 2: That's fairly scary. Like in our studio, there's you, there's me,

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Speaker 2: and there's normally Adam.

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Speaker 1: So one in three of us is going to be hostile.

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Speaker 2: Adams are going to be hostile.

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Speaker 1: It's probably you, isn't it. I think we trade whenever

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Speaker 1: I feel you just need to listen to the weekend edition. Yes,

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Speaker 1: and you can see that.

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Speaker 2: It might be two and three and two and three.

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Speaker 2: There is some good news out of the Trust Barometer.

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Speaker 2: Around seventy five percent of workers trust their employers to

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Speaker 2: do the right thing, demonstrating the increasingly important role a

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Speaker 2: workplace plays in the community.

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Speaker 1: Yeah, and you've got a great interview today all about this.

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Speaker 1: You are joined in the studio by Tom Robinson, who

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Speaker 1: is the CEO of Edelman in Australia.

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Speaker 2: Yeah, we do, and we talk all about what the

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Speaker 2: whole idea of people having grievances. It's sort of like

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Speaker 2: against the man, be that the government, be that business,

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Speaker 2: be that big organizations and why we've gotten to this

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Speaker 2: point twenty five years on from the Trust index where

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Speaker 2: people are thinking this way.

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Speaker 1: Yeah, it is a great conversation, so stick around. It

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Speaker 1: is coming up after the show. Sean Exon and Woodside

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Speaker 1: have approved a three hundred and fifty million dollars drilling

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Speaker 1: campaign to deliver new gas supplies from the Bass straight

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Speaker 1: to the East Coast.

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Speaker 2: The drilling of five Worlds in the Turreham and North

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Speaker 2: Turreham and gas fields within the Bass Strait will come

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Speaker 2: online by twenty twenty seven. They're part of the Longford

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Speaker 2: gas processing facility run jointly by those two organizations. Why

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Speaker 2: do we care about this? Michael Well, the Australian energy

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Speaker 2: market operator, has warned that the country's east coast is

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Speaker 2: on course for gas shortfalls by twenty twenty eight as

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Speaker 2: output from the bas Strait begins to deplete. Now x On,

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Speaker 2: the operator of the facility, hasn't publicly declared the quantities

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Speaker 2: of gas it expects to produce, but it has confirmed

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Speaker 2: that this Longford gas processing facility will now run well

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Speaker 2: into the next decade. Good news there. Meanwhile, Woodside said

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Speaker 2: it struck a long term gas supply deal with the

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Speaker 2: Chinese company for the first time.

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Speaker 1: Now this is an interesting one, Sean. The new five

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Speaker 1: dollar note is breaking from tradition at dropping the portrait

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Speaker 1: of the monarch and replacing it with the design to

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Speaker 1: recognize first nation to peoples enduring connection to country.

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Speaker 2: So the bank invited artists contributions based on First nations

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Speaker 2: contribution to the restoration and conservation of the environment. At

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Speaker 2: the moment the five dollar polymer note, the Queen is

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Speaker 2: on it. Queen Elizabeth is on it has been since

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Speaker 2: nineteen ninety two. On her death, the Reserve Bank said,

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Speaker 2: King Charles, you're not making it, You're out. He won't

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Speaker 2: replace Queen Elizabeth II. They ran a design contest two

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Speaker 2: thousand submissions from the Australian public. They came up with

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Speaker 2: the idea of a connection to country theme. So it's fantastic.

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Speaker 1: Absolutely. I can't wait to see it. Yeah, even though

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Speaker 1: I rarely actually handle cash now, as we discussed the

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Speaker 1: other day, it's going to be very rare to actually

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Speaker 1: see this. It's quite exciting. Turning to international news now,

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Speaker 1: US President Donald Trump is scheduled to speak to Russian

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Speaker 1: President Vladimir Putin tonight, as the US continues to push

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Speaker 1: for an end to fighting in Russia's three year war

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Speaker 1: in Ukraine.

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Speaker 2: Mister Trump told reporters that we are doing pretty well.

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Speaker 2: I think with Russia. We'll find out more about that

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Speaker 2: over the next twenty four hours. I hope. He said,

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Speaker 2: there's a very good chance of a deal. Asked what

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Speaker 2: concessions he'd seek from mister Putin to reach a deal,

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Speaker 2: Trump said much of the discussion will be on land.

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Speaker 1: Consumption and industrial production in China. Sean accelerated in the

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Speaker 1: first couple of months this year, which has to be

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Speaker 1: good news for Australian exporterers.

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Speaker 2: Yes, so there's a bunch of numbers here. So retail

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Speaker 2: sales are up four percent, industrial output six percent, fixed

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Speaker 2: acid investment four percent. Put them all together into the

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Speaker 2: proverbial mix master. What it shows is that China is

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Speaker 2: probably doing a bit better than we thought. Clearly, that's

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Speaker 2: good for a country like Australia where we sell a

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Speaker 2: lot of stuff to China. However, the Chinese government, when

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Speaker 2: these numbers came out, they warned that the external environment

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Speaker 2: is increasingly complex. That's not really an overstatement, is it.

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Speaker 2: That is an understatement. That's increasing reflection increasingly complex and severe,

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Speaker 2: and domestic effective demand is weak. Analysts said, the figures

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Speaker 2: are certainly promising. What they liked about the figures is

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Speaker 2: that they're better than expected, but they're not too high

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Speaker 2: to stop Beijing from potentially doing another stimulus. So analysts

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Speaker 2: like those numbers yesterday.

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Speaker 1: Sean, can I give you a quick update on astronauts, Yes,

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Speaker 1: please do, and the International Space Station.

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Speaker 2: I've been waiting for it.

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Speaker 1: The mission to bring home the two astronauts, Sonny Williams

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Speaker 1: and Butch Wilmore. It's had a very big development and

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Speaker 1: it's good news. I say that hesitatingly because there are

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Speaker 1: so many attempts to bring these two home. They've been

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Speaker 1: there since June of last year. Right, they were sent

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Speaker 1: there for an eight day mission that then turned into

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Speaker 1: what'll be up to nine months now after there was

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Speaker 1: safety concerns over the vessel that was supposed to be

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Speaker 1: bringing them back home. A capsule made by Elon Musk's

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Speaker 1: SpaceX successfully docked on Sunday night Australian time. There is

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Speaker 1: a handover period and if everything goes according to plan,

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Speaker 1: eight am tomorrow, assuming that is Australian time and not

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Speaker 1: in fact it's US time. I don't know what what

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Speaker 1: time zone. Here's a good trivia question for you. What

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Speaker 1: times does the International Space Station adhere to?

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Speaker 2: It depends where it is, so it changes times.

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Speaker 1: I've got a very quickly go and take off now

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Speaker 1: while you're in the right time zone. As they're passing

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Speaker 1: over now, it actually observes Greenwich meantime.

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Speaker 2: Is that right? It does? Oh? You knew the answer

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Speaker 2: to that. I did cracking trivia.

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Speaker 1: Yah, It's awesome, isn't it. Anyway? The International Space Station

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Speaker 1: is jam packed at the moment. But this ship arrived

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Speaker 1: and there were four astronauts on there right, so there

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Speaker 1: were seven already on the space station. So that's now

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Speaker 1: a total of eleven people on this little thing that's

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Speaker 1: circling the Earth. It's going to be kind of four

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Speaker 1: heading home, real mix of nationalities. It is a very

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Speaker 1: good kind of exercise for international relations. Anyway, fingers crossed.

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Speaker 1: Hopefully it all goes very, very smoothly. I pretty much

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Speaker 1: just made this entire show now an international space station update.

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Speaker 1: Very passionate about this. Up next is the Feer and

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Speaker 1: Greed Daily Interview with Tom Robinson, the CEO of Edelman Australia.

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Speaker 1: Great chat. Don't miss that one. It is coming up

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Speaker 1: in the Fear and Greed playlist on your podcast platform

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Speaker 1: or at Fearangreed dot com dot a you thank you

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Speaker 1: very much, Sean. It is Tuesday, the eighteenth of March

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Speaker 1: twenty twenty five. Make sure you following the podcast and

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Speaker 1: please join us online on LinkedIn, Instagram, x TikTok and Facebook.

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Speaker 1: I'm Michael Thompson. Now was Peter and Greed. Have a

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Speaker 1: great day.