WEBVTT - Paul Murray Live | 14 May 0:00:00.240 --> 0:00:02.080 From the Skyinging Center. 0:00:02.520 --> 0:00:05.240 This is Paul Murray life. 0:00:06.519 --> 0:00:08.719 Thank you KG to everyone on our camber team. All 0:00:08.800 --> 0:00:11.560 right now, no more bs, no more mucking around, no 0:00:11.600 --> 0:00:15.360 more sitting on the fence. The barefoot investor Scott Paper 0:00:15.400 --> 0:00:17.400 is a man who many people turn to for some 0:00:17.440 --> 0:00:21.800 financial advice or somebody they read often. He today did 0:00:21.800 --> 0:00:24.320 the first thing he's done in twenty years when it 0:00:24.360 --> 0:00:26.799 comes to a federal budget. He didn't bother going to 0:00:26.840 --> 0:00:30.320 Canberra because as you have all learnt by now, it's 0:00:30.360 --> 0:00:32.839 all handed out and leaked and mentioned, and even the 0:00:32.880 --> 0:00:36.640 budget surplus was known in the papers this morning. He 0:00:36.720 --> 0:00:40.479 refers to it essentially a sort of really boring political theater. 0:00:40.920 --> 0:00:43.800 And in that spirit, let's begin this evening. While we 0:00:43.840 --> 0:00:45.960 will get serious and we'll have our debates, let's also 0:00:46.640 --> 0:00:49.200 poke fun at these people who pretend they are changing 0:00:49.320 --> 0:00:52.680 anyone's life, when, of course, all this document is about 0:00:52.720 --> 0:00:54.800 every year, regardless of who the politician is, it's about 0:00:54.800 --> 0:00:58.400 saving their backside, about telling you that your world's going 0:00:58.440 --> 0:01:01.920 to get better because woos seventy five bucks every three months. 0:01:01.960 --> 0:01:03.160 You know this garbage. 0:01:04.319 --> 0:01:07.080 Jim Chalmers did something that no treasurer I have seen 0:01:07.120 --> 0:01:10.440 in the past has done. He invited the cameras in 0:01:10.520 --> 0:01:13.760 to watch him like a gladiator, leave his office and 0:01:13.800 --> 0:01:17.160 walk into the Parliament. And it's the best bit of 0:01:17.200 --> 0:01:20.360 TV I've seen since Goldberg was wrestling back in w 0:01:20.680 --> 0:01:21.160 c W. 0:01:24.959 --> 0:01:28.160 If you're a in them, you can see. 0:01:28.120 --> 0:01:29.319 The wide screen. 0:01:47.480 --> 0:01:50.000 Without the pyro and not quite as interesting and probably 0:01:50.040 --> 0:01:52.640 just as fake. Now tonight we're going to have an 0:01:52.640 --> 0:01:55.840 all star panel of Sky News mates and friends and colleagues. 0:01:55.880 --> 0:01:58.080 I'm so pleased, Chris Kenny and Andrew BOLTI here, I'm 0:01:58.120 --> 0:02:00.440 so pleased. We're going to have the team Red Blue. 0:02:00.480 --> 0:02:03.040 You'll hear a lot of reaction that's coming in as well. 0:02:03.320 --> 0:02:06.000 But right off the top our budget tradition, the five 0:02:06.040 --> 0:02:09.280 things you need to know about this federal budget. Number one, 0:02:10.720 --> 0:02:15.959 the reality here is that every household getting a three 0:02:16.040 --> 0:02:22.760 hundred dollars power rebate means that you, in actual fact, 0:02:22.880 --> 0:02:26.919 are going to be paying for midionaires to be able 0:02:26.960 --> 0:02:31.600 to take three hundred bucks off their power bills. The Treasurer, 0:02:32.720 --> 0:02:35.760 in order to take a line politically out of this budget, 0:02:36.600 --> 0:02:38.919 has said every household. 0:02:38.680 --> 0:02:40.840 Will get three hundred dollars. Wait till I tell you 0:02:40.840 --> 0:02:42.680 how that three hundred dollars is being doled out. 0:02:44.240 --> 0:02:47.080 Just as every Australian tax player will get a tax cut, 0:02:47.520 --> 0:02:53.160 every Australian household will get energy price relief. From July one, 0:02:53.320 --> 0:02:56.560 Australians will receive an energy rebate of three hundred dollars 0:02:56.600 --> 0:02:59.919 and one million small businesses will get a little bit more. 0:03:00.919 --> 0:03:03.040 That's right, this bloke who thinks he'll be the prime 0:03:03.040 --> 0:03:06.400 minister one day. The working class hero thinks there is 0:03:06.520 --> 0:03:10.079 no difference in cost of living pain between this house 0:03:10.720 --> 0:03:14.680 in the suburbs of his own electorate, or this house 0:03:15.120 --> 0:03:18.560 and every other mansion in the country. That's what every 0:03:18.680 --> 0:03:20.040 household means. 0:03:21.600 --> 0:03:23.920 Now. The reality is is that people at the. 0:03:23.840 --> 0:03:27.880 Rich end of town have largely been the ones that 0:03:27.960 --> 0:03:30.680 have been spending and spending and spending. They're still going 0:03:30.720 --> 0:03:34.320 on overseas holidays, They're still buying new tellies, while people 0:03:34.400 --> 0:03:39.080 at the other end are cutting back on medicine, cutting 0:03:39.080 --> 0:03:42.720 back on food, and because the Reserve Bank only has 0:03:42.760 --> 0:03:46.240 one leave at a pull, they put up the rates 0:03:46.880 --> 0:03:49.280 in part. That's why because of the spending that has 0:03:49.320 --> 0:03:53.160 been done by those who have the money to spend 0:03:53.200 --> 0:03:57.360 to slow the entire economy, you in suburban Australia have 0:03:57.440 --> 0:04:00.720 had the python around you thirteen times in all but 0:04:00.800 --> 0:04:06.880 a dozen since this government came to power. Also, the 0:04:06.920 --> 0:04:09.960 reality of all of this. Now they're going to get 0:04:09.960 --> 0:04:12.000 the headline and it's going to cost billions of dollars 0:04:12.040 --> 0:04:16.359 of taxpayers money that three hundred dollars power bill gift 0:04:16.440 --> 0:04:19.880 from the federal government. But as Andrew Clenell explained in 0:04:19.920 --> 0:04:22.680 our coverage a little earlier this evening, this is how 0:04:22.760 --> 0:04:27.480 it will actually work. And maybe the fireworks just become 0:04:27.560 --> 0:04:31.520 a bit of a sparkler that's running out and. 0:04:31.480 --> 0:04:33.880 You get seventy five a quarter. All of us, you know, 0:04:33.960 --> 0:04:36.480 Gena Reinhart gets it, Twiggy Forest gets it, we all 0:04:36.480 --> 0:04:39.200 get it. Everyone watching gets it. And I think it 0:04:39.279 --> 0:04:42.840 just rolls pretty much straight onto your bill. 0:04:43.120 --> 0:04:43.680 Wow. 0:04:44.360 --> 0:04:47.080 I don't know about you, but I will never forget 0:04:47.120 --> 0:04:50.679 this day, just like the great days in history where 0:04:50.720 --> 0:04:54.440 you know where you were, well, you will. 0:04:54.320 --> 0:04:57.400 Forever say to yourself, where. 0:04:57.200 --> 0:04:59.719 Was I on the fourteenth of May in twenty twenty 0:04:59.760 --> 0:05:04.320 four when this government ended the cost of living crisis 0:05:05.800 --> 0:05:10.400 by handing power companies seventy five dollars a quarter. You 0:05:10.440 --> 0:05:12.880 don't get the money, and then if you choose to 0:05:12.920 --> 0:05:15.400 spend it on something else you can. No, No, it 0:05:15.480 --> 0:05:18.560 goes to the power companies. The lefties will blop about 0:05:18.560 --> 0:05:23.000 it because it's fossil fuel companies. But that's the change 0:05:23.040 --> 0:05:25.480 to your life, because just like tax cuts, you don't 0:05:25.480 --> 0:05:29.120 pay an annual power bill. You pay a quarterly one. 0:05:29.160 --> 0:05:34.400 And if you pay a monthly one, it's twenty five dollars. Wow, 0:05:34.920 --> 0:05:40.599 thank you, doctor Jim. You've solved all my problems. What 0:05:40.640 --> 0:05:44.440 this is actually about is about trying to get around 0:05:44.720 --> 0:05:48.920 the key broken promise of the last election, the one 0:05:48.920 --> 0:05:50.599 when the Prime Minister said this. 0:05:51.920 --> 0:05:55.400 Households will benefit by two hundred and seventy five dollars 0:05:55.440 --> 0:05:58.640 on average, reducing power prices by two hundred and seventy 0:05:58.680 --> 0:06:02.280 five dollars prices two hundred and seventy five dollars, two 0:06:02.400 --> 0:06:05.240 hundred and seventy five dollars, two hundred and seventy five 0:06:05.279 --> 0:06:08.320 dollars a year, two hundred and seventy five dollars, two 0:06:08.440 --> 0:06:10.880 hundred and seventy five dollars a year. 0:06:13.000 --> 0:06:16.400 See, because they think you're stupid, they think you have 0:06:16.440 --> 0:06:19.600 no memory. They think somehow they can tell you, they 0:06:19.600 --> 0:06:22.200 can gaslight you on a detail. Enough that you will 0:06:22.240 --> 0:06:26.240 forget the reality power prices since those promises were made 0:06:26.279 --> 0:06:29.640 are up by the best part of one thousand dollars. Oh, 0:06:29.720 --> 0:06:31.000 so they're going to find a way to bring it 0:06:31.040 --> 0:06:34.839 down for one year only for three hundred dollars, and 0:06:34.920 --> 0:06:37.000 that's better than our two seventy five prom No. No, 0:06:37.160 --> 0:06:39.520 the two to seventy prime promise was on the power 0:06:39.560 --> 0:06:43.680 prices of May in twenty twenty one, not on the 0:06:43.720 --> 0:06:48.520 power prices of May twenty twenty four. And when challenged 0:06:48.560 --> 0:06:50.680 on the two seventy five number, this is what the 0:06:50.760 --> 0:06:53.680 treasurers said to again Kieran Gilbert in our coverage early 0:06:53.720 --> 0:06:54.120 It's to night. 0:06:55.520 --> 0:06:58.200 The number you're referring to is a forecast in twenty 0:06:58.200 --> 0:07:01.720 one about an outcome in twenty five. We're providing energy 0:07:01.760 --> 0:07:03.479 bill relief in the here and now, we did in 0:07:03.480 --> 0:07:05.840 the last budget, we are again in the next budget. 0:07:05.839 --> 0:07:09.200 But there'll be more relief for more people in this budget. 0:07:10.080 --> 0:07:13.000 No, No, that wasn't modeling. That was a promise. 0:07:14.000 --> 0:07:16.120 One so much so that we could feel the entire 0:07:16.480 --> 0:07:19.480 extra thirty minutes of this show, in the full ninety 0:07:19.480 --> 0:07:21.040 minutes to show you how many times they said it. 0:07:21.920 --> 0:07:26.400 But now they didn't say it, and twenty five dollars 0:07:26.480 --> 0:07:28.600 a month is apparently going to make you completely forget 0:07:28.600 --> 0:07:30.239 the your power bill has gone up by how much 0:07:30.720 --> 0:07:34.960 since this mob came to Power number two. No matter 0:07:35.000 --> 0:07:37.560 the spin, what we've told you about the tax cuts 0:07:37.640 --> 0:07:39.960 remains as true today as the first day we said it. 0:07:40.560 --> 0:07:43.640 In the real world, the tax cuts are too little, 0:07:43.680 --> 0:07:48.800 too late. They do not change the lived experience of Australians. 0:07:49.960 --> 0:07:50.280 Now. 0:07:50.520 --> 0:07:54.920 For workers around the country, they don't pay their tax annually. 0:07:56.120 --> 0:08:01.360 You pay your tax weekly, fortnightly or monthly. So when 0:08:01.400 --> 0:08:03.400 they turn around and talk up to the big number 0:08:03.440 --> 0:08:05.720 about the end of the year, that's not how you 0:08:05.760 --> 0:08:08.440 actually pay tax. So in the same way they're going 0:08:08.480 --> 0:08:10.360 to say three hundred dollars off power bills, it's not 0:08:10.440 --> 0:08:12.640 three hundred dollars off power bills. It's twenty five dollars 0:08:12.680 --> 0:08:15.600 a month off power bills. And you don't get the money. 0:08:15.640 --> 0:08:20.960 The power company gets the money. The reality of the 0:08:20.960 --> 0:08:22.840 too little, too late tax cut was that if you 0:08:22.880 --> 0:08:24.880 earn forty five thousand dollars, you're only going to get 0:08:24.880 --> 0:08:28.120 fifteen dollars a week, twenty two dollars a week if 0:08:28.160 --> 0:08:30.240 you earn sixty grand thirty two dollars a week if 0:08:30.240 --> 0:08:34.040 you earn eighty grand or forty one thousand dollars, if 0:08:34.040 --> 0:08:37.320 you earn forty one dollars, if you earn one hundred 0:08:37.360 --> 0:08:39.040 thousand dollars, it won't be that generous to them. 0:08:39.040 --> 0:08:41.000 That'll be next year's giveaway if they're still waiting for 0:08:41.040 --> 0:08:41.480 an election. 0:08:42.040 --> 0:08:46.080 But again the treasurer, who has been spinning the annual 0:08:46.120 --> 0:08:50.720 figure the penny, has dropped that the lived experience of 0:08:50.760 --> 0:08:52.640 people and why they don't buy the bs about the 0:08:52.640 --> 0:08:55.920 tax cuts is because you pay it weekly, fortnightly or monthly. 0:08:56.800 --> 0:09:01.280 So by the Treasurer's own admissions, he now says what 0:09:01.360 --> 0:09:03.920 the average figure is going to be for the tax 0:09:03.960 --> 0:09:07.280 cut per week, and think about whether this even touches 0:09:07.360 --> 0:09:10.960 the sides of the middle of the financial problems you're facing. 0:09:12.600 --> 0:09:15.839 The average benefit is one eight hundred and eighty eight 0:09:15.880 --> 0:09:16.880 dollars a year. 0:09:17.160 --> 0:09:19.360 Which is thirty six dollars a week. 0:09:20.120 --> 0:09:22.960 Our tax cuts are better for families and communities, women 0:09:23.080 --> 0:09:25.400 and young people. They are better for business, and they 0:09:25.400 --> 0:09:26.559 are better for the economy. 0:09:27.600 --> 0:09:30.559 Now remember how way back when when the Howard government 0:09:30.600 --> 0:09:32.800 handed out a tax cut and they were able to 0:09:32.840 --> 0:09:35.240 break it down by the fifty two weeks a year. 0:09:35.280 --> 0:09:38.520 It was a milk choke and a hamburger. Well, this 0:09:38.640 --> 0:09:41.280 might be slightly more generous, but it again doesn't change 0:09:41.280 --> 0:09:44.120 your life. Let me put this in terms that Australians 0:09:44.120 --> 0:09:46.360 will understand. The number one beer in the country is 0:09:46.400 --> 0:09:50.480 Great Northern. You cannot buy a case of Great Northern 0:09:50.800 --> 0:09:54.000 with this tax cut each week. And if you're somebody 0:09:54.040 --> 0:09:56.440 who really has the backside out of their strides, you 0:09:56.440 --> 0:09:59.240 wouldn't even be able to afford a six pack a 0:09:59.320 --> 0:10:00.920 week of Great Northern. 0:10:02.120 --> 0:10:04.800 So they will go around the country saying everyone gets 0:10:04.840 --> 0:10:05.440 a tax. 0:10:05.240 --> 0:10:08.920 Cut, it's not enough for a case of beer. Everyone 0:10:08.960 --> 0:10:15.600 gets a power cut. You're paying power companies to subsidize millionaires. 0:10:16.280 --> 0:10:18.000 And even if you think it's a good idea, it's 0:10:18.040 --> 0:10:24.360 twenty five dollars a month. Number three, the budget doesn't 0:10:24.360 --> 0:10:28.080 actually put out the other inflation fires. Now, obviously, look, 0:10:28.160 --> 0:10:31.920 I don't want to be crass, but imagine the least 0:10:31.920 --> 0:10:34.360 effective amount of liquid that you can put towards a fire. 0:10:34.600 --> 0:10:35.800 And this is even less. 0:10:36.200 --> 0:10:39.719 Why because despite the fact that Jim Chalmers said this 0:10:40.080 --> 0:10:43.280 as many times as he possibly could during his speech. 0:10:44.400 --> 0:10:46.840 Cost of Living, Cost of living, cost of living, cost 0:10:46.880 --> 0:10:49.400 of living, cost of living, cost of living, cost of living, 0:10:49.520 --> 0:10:50.760 cost of living. 0:10:51.640 --> 0:10:55.800 In the last month, the inflation figures on a whole 0:10:55.800 --> 0:10:57.200 bunch of things that Australians have to. 0:10:57.200 --> 0:11:01.199 Pay for are why higher. 0:11:00.160 --> 0:11:03.520 Than the dream of somewhere between two and three percent inflation. 0:11:04.320 --> 0:11:04.840 Have a look. 0:11:06.400 --> 0:11:11.160 Tobacco is up twelve percent, insurance is up eight percent, 0:11:11.320 --> 0:11:14.200 fuel is up eight percent, Rent is up seven percent, 0:11:14.320 --> 0:11:18.800 bread and cereal, alcohol and tobacco, non alcoholic, housing, electricy. 0:11:18.480 --> 0:11:20.719 Go on and on and on and on and on. 0:11:21.840 --> 0:11:25.720 Nothing in this budget helps you pay those bills. Nothing. 0:11:27.400 --> 0:11:32.440 And if they think that the not even case of 0:11:32.480 --> 0:11:35.320 beer tax cut is enough, well guess what. It's immediately 0:11:35.520 --> 0:11:38.280 washed out by any one of those other increases, including 0:11:38.280 --> 0:11:40.960 petrol tax that they have refused to cut. And wait 0:11:41.040 --> 0:11:44.079 till they explain why. In a moment or two's time. 0:11:45.960 --> 0:11:52.120 Four smokers, drinkers and drivers, Congratulations, thank you, there's a 0:11:52.120 --> 0:11:55.280 cuddle in the mail. Why because you are the only 0:11:55.320 --> 0:11:58.960 reason this mob can post a surplus. The surplus is 0:11:59.040 --> 0:12:02.120 nine point three million dollars. It's the first back to 0:12:02.160 --> 0:12:04.680 back surplus in decades, and isn't Jim Chalmer's amazing and 0:12:04.720 --> 0:12:05.400 all the rest of it. 0:12:05.480 --> 0:12:06.840 I'll get to the future in a second. 0:12:08.640 --> 0:12:12.080 But that nine point three billion is only achieved because 0:12:12.800 --> 0:12:16.480 the taxes they got this year, or do they expect 0:12:16.520 --> 0:12:20.240 to get this year out of petrol is seven point 0:12:20.240 --> 0:12:22.959 three billion dollars, which is why they won't cut the 0:12:23.000 --> 0:12:26.840 petrol tax. Diesel seventeen point four billion, which is why 0:12:26.880 --> 0:12:30.720 they won't cut that fuel tax. Tobacco eleven point five billion, 0:12:31.000 --> 0:12:35.320 which in and of itself alone keeps them in surplus. Literally, 0:12:35.640 --> 0:12:39.960 the tobacco tax in Australia is the only reason we're 0:12:39.960 --> 0:12:44.560 in a surplus. Hardly gold stars for great economic management right, 0:12:44.960 --> 0:12:47.839 let alone the bier which a tax cut still can't afford. 0:12:47.880 --> 0:12:50.120 If it's we're talking about a case or a sixty 0:12:50.800 --> 0:12:54.400 if you're earning forty five grand or spirits, well, remember 0:12:54.520 --> 0:12:57.520 a bottle of Bundy rum is more than sixty percent tax. 0:12:59.559 --> 0:13:04.240 The well forty two billion dollars in petrol, diesel, tobacco, 0:13:04.440 --> 0:13:07.560 beer and spirit taxes. That's the only reason they're in 0:13:07.559 --> 0:13:10.640 a surplus and the only reason the deficit isn't thirty 0:13:11.040 --> 0:13:16.440 billion dollars today, which brings me to point number five. 0:13:17.400 --> 0:13:20.560 Things are going to get worse and I mean really 0:13:20.600 --> 0:13:23.080 worse than the next of a while. Bear it inside 0:13:23.080 --> 0:13:25.840 the documents. Something nobody will say in the little five 0:13:25.920 --> 0:13:29.160 minute guard to the budget on the website. The expectation 0:13:29.200 --> 0:13:32.120 of an interest rate rise is interest rate cut is 0:13:32.200 --> 0:13:35.240 nothing this year. It's in fact not until the middle 0:13:35.280 --> 0:13:38.840 of next year. So currently, people who are having to 0:13:38.960 --> 0:13:42.280 find anywhere between an extra fifteen and thirty thousand dollars 0:13:42.800 --> 0:13:45.400 to pay off their home no relief whatsoever. 0:13:45.440 --> 0:13:47.880 But please vote for us because every household gets a 0:13:47.960 --> 0:13:53.320 power bill cut, every worker gets a tax cut, and 0:13:53.360 --> 0:13:56.880 in terms of jobs, a shocking number of Australians are 0:13:56.920 --> 0:13:59.640 going to lose their job in the next twelve months. 0:14:00.040 --> 0:14:02.600 It's not me saying it, it's the Treasurer saying it 0:14:02.920 --> 0:14:04.120 in the speech. 0:14:06.200 --> 0:14:10.120 Slower growth means a softer labor market, with unemployment expected 0:14:10.160 --> 0:14:12.720 to rise slightly to four and a half percent next year, 0:14:13.160 --> 0:14:15.960 even as we create tens of thousands of new jobs. 0:14:17.200 --> 0:14:20.080 Let me explain it this way. Current unemployment three three 0:14:20.080 --> 0:14:22.760 point nine percent. Expectation in this budget is that it 0:14:22.800 --> 0:14:25.320 goes up to four point five. It stays above four 0:14:25.720 --> 0:14:28.320 as far as the eye can see. If we hit 0:14:28.320 --> 0:14:30.600 a four point five percent unemployment rate. That's one hundred 0:14:30.600 --> 0:14:33.400 and three thousand, six hundred people who will lose their jobs. 0:14:33.760 --> 0:14:37.640 Oh but every household gets a power bill, and every 0:14:37.680 --> 0:14:40.800 worker is going to get a tax cut. And then 0:14:40.840 --> 0:14:45.000 there's the actual government itself, because as I've shown you, 0:14:45.000 --> 0:14:46.920 the only way they got to surplus even with all 0:14:47.000 --> 0:14:48.680 of those taxes. Guess how deep they're going to go 0:14:48.720 --> 0:14:50.800 into deficit next year, the year after and as far 0:14:50.800 --> 0:14:52.320 as the eye can see. 0:14:52.120 --> 0:14:53.400 Have a look at this. 0:14:53.400 --> 0:14:55.560 This year surplus is nine point three billion, next is 0:14:55.600 --> 0:14:59.520 deficit is twenty eight billion. The year after that forty two, 0:15:00.600 --> 0:15:04.000 then twenty six billion, because magically everything changes, and then 0:15:04.040 --> 0:15:09.000 twenty four billion dollars. So while the treasurer will say, 0:15:09.000 --> 0:15:11.600 how good have I been, I've saved a bit of 0:15:11.600 --> 0:15:14.480 money on the debt. Okay, let's say one hundred percent 0:15:14.520 --> 0:15:17.120 of what he says is true. So the eighty biding 0:15:17.160 --> 0:15:19.320 that apparently cut from the debt will now be replaced 0:15:19.360 --> 0:15:25.680 by an increase in federal government debt that will now 0:15:25.720 --> 0:15:29.000 take us to one point two trillion. All those deficits 0:15:29.000 --> 0:15:31.120 added together on top of the current debt takes us 0:15:31.120 --> 0:15:33.640 to one point one trillion dollars. 0:15:34.760 --> 0:15:36.720 Oh but there's a power cut for every household, and 0:15:36.720 --> 0:15:38.200 there's a tax cut for every worker. 0:15:39.840 --> 0:15:43.480 That won't be able to change anything about your life. 0:15:44.720 --> 0:15:46.400 So those are my five things. I'm can you know 0:15:46.440 --> 0:15:48.480 what yours are? To send me in my pulitsgunews dot 0:15:48.480 --> 0:15:50.280 com dot are you. Here are my dear friends and 0:15:50.320 --> 0:15:52.560 colleagues from the Kenny Report, which you can see five 0:15:52.600 --> 0:15:54.800 o'clock Eastern each and every night. Primetime starts with the 0:15:54.840 --> 0:15:57.600 Great Chris Kenny, none other than the King amongst us. 0:15:57.640 --> 0:15:59.880 The Great Andrew Bolt joins us as well. Lads, let's 0:15:59.880 --> 0:16:02.760 get through all of this. So anything I missed. 0:16:02.520 --> 0:16:03.880 Chris, No, you're on the money. 0:16:04.440 --> 0:16:06.640 I'm never going to complain about your smoke again and 0:16:06.680 --> 0:16:08.720 your cigars. I'm going to slap you on the back 0:16:08.760 --> 0:16:11.280 and thank you for keeping the country going on. This 0:16:11.360 --> 0:16:14.560 is a government that was prepared to sell out Israel 0:16:14.920 --> 0:16:17.840 to try and save a handful of seats, So why 0:16:17.880 --> 0:16:20.280 would we be surprised that they sell out the entire 0:16:20.400 --> 0:16:22.840 budget strategy to try and win an election. 0:16:23.280 --> 0:16:24.440 This is quite extraordinary. 0:16:24.480 --> 0:16:29.520 They're maintaining historically high levels of taxation, historically high levels 0:16:29.560 --> 0:16:33.320 of spending, historically high levels of debt, and they say 0:16:33.360 --> 0:16:37.480 they're going to cut immigration but keep immigration at historically 0:16:37.760 --> 0:16:40.760 high level. So all of the concerns that people have 0:16:41.040 --> 0:16:43.520 are only going to be exacerbated in coming years. 0:16:43.800 --> 0:16:44.840 And it's all pitched. 0:16:45.120 --> 0:16:48.800 They pick a slogan and an election campaign ad, and 0:16:48.840 --> 0:16:51.840 then they find our billions of dollars to pay for it. 0:16:52.120 --> 0:16:53.480 That's what I think of this election. 0:16:53.760 --> 0:16:56.560 It's all about slogans funded by our tax dollar. 0:16:56.600 --> 0:16:56.960 My oath. 0:16:57.040 --> 0:16:59.080 Andrew Bolt joining us from Melbourne, great man, love you 0:16:59.120 --> 0:17:00.880 to see you, tell me your thoughts and did I 0:17:00.920 --> 0:17:01.680 get anything wrong? 0:17:03.560 --> 0:17:09.080 Then? The basic bottom line is we've got good times, 0:17:09.400 --> 0:17:12.600 you know, despite the Treasurer trying to tell us, oh, 0:17:12.760 --> 0:17:15.520 the overseas situation is not too good, which has been 0:17:15.560 --> 0:17:19.240 saying every single budget. If there's something wrong here, I 0:17:19.359 --> 0:17:23.359 was caused by overseas, never by labor. Things are pretty good. 0:17:23.720 --> 0:17:28.000 We've got record amounts of tax coming into the government's coffers. 0:17:28.280 --> 0:17:33.280 And what does the Treasurer produce four more years of 0:17:33.400 --> 0:17:38.239 deficits one hundred and twelve twelve billion dollars added to 0:17:38.280 --> 0:17:42.760 the reading that this country's already in I find that unbelievable. 0:17:43.320 --> 0:17:47.600 And also he says unemployment's going to get worse. Inflation 0:17:47.720 --> 0:17:50.040 is a little bit sticky. But oh, by the way, 0:17:50.080 --> 0:17:53.240 he says, I've just cutted by half a percent of 0:17:53.359 --> 0:17:58.639 this this rent subsidy and this energy subsidy. By the way, 0:17:58.880 --> 0:18:02.240 both of them are and saving for labor mistakes by 0:18:02.280 --> 0:18:05.080 taking money out of one of your pockets and putting 0:18:05.119 --> 0:18:07.480 it back in the other pocket. And you're supposed to 0:18:07.520 --> 0:18:08.960 feel better off. 0:18:09.200 --> 0:18:10.800 I mean, what a joke. 0:18:11.240 --> 0:18:15.400 Look, the whole thing is, he says, the treasure's big hope, right, 0:18:15.600 --> 0:18:20.120 is that this budget has taken pressure off the Reserve 0:18:20.160 --> 0:18:25.160 Bank and made it possible to lift to cut interest 0:18:25.280 --> 0:18:28.879 rates and cut your mortgage payments as well through that. 0:18:29.560 --> 0:18:32.600 In fact, it won't because what it does, this is 0:18:32.640 --> 0:18:36.800 the biggest con in the budget. He has given this subsidy, 0:18:37.240 --> 0:18:41.879 the rent and the money for your to compensate for 0:18:41.960 --> 0:18:45.919 the increases in your power bills thanks to global warming policies. 0:18:46.560 --> 0:18:48.920 People that are hard up, what do you think they're 0:18:48.920 --> 0:18:51.840 going to do with extra money? They're going to spend it. 0:18:52.480 --> 0:18:55.359 What's the Reserve Bank trying to do? Take money out 0:18:55.400 --> 0:18:59.359 of the economy. The Government's just added money to the economy. 0:18:59.840 --> 0:19:03.280 Is going to mean the cut in interest rates that 0:19:03.359 --> 0:19:07.400 the government's hoping for will be delayed. This is just 0:19:07.920 --> 0:19:13.520 smoke and mirrors, more debt, more joblessness and higher interest 0:19:13.600 --> 0:19:16.720 rates for longer. That is what the government has done 0:19:17.040 --> 0:19:20.320 with record income coming in. I can't believe it. 0:19:20.640 --> 0:19:22.639 Yeah, let's put us in boxes, guys, because I want 0:19:22.680 --> 0:19:24.960 everyone to be able to have a chat took across 0:19:24.960 --> 0:19:26.639 each other. It's mates talking on the telly to our 0:19:26.680 --> 0:19:29.439 mates watching at home, all right, So feel freebody at 0:19:29.440 --> 0:19:34.399 any time. Of course, Chris about the power side of things, 0:19:35.119 --> 0:19:37.640 there's a dirty little trick also in here. Remember Chris 0:19:37.640 --> 0:19:41.560 Bowen has effectively done the trick with the NBN, which 0:19:41.600 --> 0:19:43.240 is to move tens of billions. 0:19:42.960 --> 0:19:45.159 Of dollars off the budget so we never see it. 0:19:45.840 --> 0:19:47.880 But you still have to borrow money for it, right, 0:19:48.680 --> 0:19:54.120 in order to build the renewable infrastructure that in part 0:19:54.200 --> 0:19:56.399 has now seen and the cost of transition building this 0:19:56.400 --> 0:19:59.600 stuff is why people's power bills in part have gone up. 0:19:59.600 --> 0:20:01.119 I mean they can talk about Ukraine as much as 0:20:01.119 --> 0:20:04.159 they want. The moving from the car with four wheels 0:20:04.280 --> 0:20:06.359 the car with three wheels and telling us it will 0:20:06.359 --> 0:20:10.040 break the record of bathist is that's the cost of transition. 0:20:10.080 --> 0:20:13.239 It's a trillion dollars. Yet they turn around now and say, well, 0:20:13.240 --> 0:20:15.280 we're going to light the fire and compensate you for 0:20:15.320 --> 0:20:17.720 the fire. It reminds me of Gillard with the carbon tax, 0:20:17.800 --> 0:20:20.000 will introduce the tax and compensate you for it. 0:20:20.000 --> 0:20:22.320 Well, it's like they're treating us as hostages, you know, 0:20:22.359 --> 0:20:25.520 and they're denying us our liberties, and then they're saying, oh, 0:20:25.640 --> 0:20:29.120 here you are, here's a little glass of water. 0:20:29.160 --> 0:20:30.159 It would be grateful for us. 0:20:30.520 --> 0:20:34.480 The national self harm here in this energy policy is extraordinary. 0:20:34.359 --> 0:20:38.640 We have got historically high, the highest electricity prices we've 0:20:38.640 --> 0:20:40.760 ever had in this country. The reason we've got them 0:20:41.040 --> 0:20:45.520 is because labor and other governments have been subsidizing renewables, 0:20:45.720 --> 0:20:49.400 that've been subsidizing the transmission to connect the renewables, that've 0:20:49.440 --> 0:20:52.680 been subsidizing the batteries to try and store the renewables. 0:20:52.920 --> 0:20:55.159 Then they realize that they didn't have enough energy, so 0:20:55.160 --> 0:20:59.000 they're now subsidizing the coal generators to try and maintain 0:20:59.040 --> 0:21:04.200 the power. And they've given us this unprecedented electricity cost burden. 0:21:04.640 --> 0:21:08.440 So now they're subsidizing people's power bills to try and 0:21:08.840 --> 0:21:12.560 let us get through the power price increases. They've inflicted 0:21:12.560 --> 0:21:14.880 on us. And to make it worse, as you pointed out, 0:21:15.240 --> 0:21:19.080 these subsidies which will pay the power bills partially on 0:21:19.160 --> 0:21:22.080 behalf of us to the power companies, will go to 0:21:22.240 --> 0:21:25.840 millionaires as well. They will go to millionaires Malcolm Turbul, 0:21:25.920 --> 0:21:28.800 Cake Blanchett, Clive Palmer, they will get the. 0:21:28.720 --> 0:21:31.800 Three hundred dollars rebate. It's obscene and absurd. 0:21:32.040 --> 0:21:34.840 But also I mean remember what they were doing, this 0:21:35.000 --> 0:21:37.600 Labor Party complaining Andrew about when paper in a leave 0:21:37.600 --> 0:21:39.280 an Tony Abbott was trying to put in both. 0:21:39.200 --> 0:21:41.440 Oh we subsidizing of the millionaires and all the rest 0:21:41.440 --> 0:21:41.720 of it. 0:21:42.320 --> 0:21:44.920 But the argument of Jim Chalmers is, oh well, cost 0:21:44.920 --> 0:21:47.119 of living affects everyone, up and down the power scale, 0:21:47.280 --> 0:21:50.480 up and down the economic scale. I think this is 0:21:50.520 --> 0:21:52.119 going to be an issue. I mean, you see that 0:21:52.119 --> 0:21:55.240 the Liberal Party in their early response tonight is that 0:21:55.280 --> 0:21:57.040 they're going to wave it through because they don't want 0:21:57.040 --> 0:22:00.360 to get caught in that they voted against power relief thing. 0:22:00.440 --> 0:22:03.320