Speaker 1: From the Skyinging Center.
Speaker 2: This is Paul Murray life.
Speaker 1: Thank you KG to everyone on our camber team. All
Speaker 1: right now, no more bs, no more mucking around, no
Speaker 1: more sitting on the fence. The barefoot investor Scott Paper
Speaker 1: is a man who many people turn to for some
Speaker 1: financial advice or somebody they read often. He today did
Speaker 1: the first thing he's done in twenty years when it
Speaker 1: comes to a federal budget. He didn't bother going to
Speaker 1: Canberra because as you have all learnt by now, it's
Speaker 1: all handed out and leaked and mentioned, and even the
Speaker 1: budget surplus was known in the papers this morning. He
Speaker 1: refers to it essentially a sort of really boring political theater.
Speaker 1: And in that spirit, let's begin this evening. While we
Speaker 1: will get serious and we'll have our debates, let's also
Speaker 1: poke fun at these people who pretend they are changing
Speaker 1: anyone's life, when, of course, all this document is about
Speaker 1: every year, regardless of who the politician is, it's about
Speaker 1: saving their backside, about telling you that your world's going
Speaker 1: to get better because woos seventy five bucks every three months.
Speaker 2: You know this garbage.
Speaker 1: Jim Chalmers did something that no treasurer I have seen
Speaker 1: in the past has done. He invited the cameras in
Speaker 1: to watch him like a gladiator, leave his office and
Speaker 1: walk into the Parliament. And it's the best bit of
Speaker 1: TV I've seen since Goldberg was wrestling back in w
Speaker 1: c W.
Speaker 3: If you're a in them, you can see.
Speaker 2: The wide screen.
Speaker 1: Without the pyro and not quite as interesting and probably
Speaker 1: just as fake. Now tonight we're going to have an
Speaker 1: all star panel of Sky News mates and friends and colleagues.
Speaker 1: I'm so pleased, Chris Kenny and Andrew BOLTI here, I'm
Speaker 1: so pleased. We're going to have the team Red Blue.
Speaker 1: You'll hear a lot of reaction that's coming in as well.
Speaker 1: But right off the top our budget tradition, the five
Speaker 1: things you need to know about this federal budget. Number one,
Speaker 1: the reality here is that every household getting a three
Speaker 1: hundred dollars power rebate means that you, in actual fact,
Speaker 1: are going to be paying for midionaires to be able
Speaker 1: to take three hundred bucks off their power bills. The Treasurer,
Speaker 1: in order to take a line politically out of this budget,
Speaker 1: has said every household.
Speaker 2: Will get three hundred dollars. Wait till I tell you
Speaker 2: how that three hundred dollars is being doled out.
Speaker 4: Just as every Australian tax player will get a tax cut,
Speaker 4: every Australian household will get energy price relief. From July one,
Speaker 4: Australians will receive an energy rebate of three hundred dollars
Speaker 4: and one million small businesses will get a little bit more.
Speaker 1: That's right, this bloke who thinks he'll be the prime
Speaker 1: minister one day. The working class hero thinks there is
Speaker 1: no difference in cost of living pain between this house
Speaker 1: in the suburbs of his own electorate, or this house
Speaker 1: and every other mansion in the country. That's what every
Speaker 1: household means.
Speaker 2: Now. The reality is is that people at the.
Speaker 1: Rich end of town have largely been the ones that
Speaker 1: have been spending and spending and spending. They're still going
Speaker 1: on overseas holidays, They're still buying new tellies, while people
Speaker 1: at the other end are cutting back on medicine, cutting
Speaker 1: back on food, and because the Reserve Bank only has
Speaker 1: one leave at a pull, they put up the rates
Speaker 1: in part. That's why because of the spending that has
Speaker 1: been done by those who have the money to spend
Speaker 1: to slow the entire economy, you in suburban Australia have
Speaker 1: had the python around you thirteen times in all but
Speaker 1: a dozen since this government came to power. Also, the
Speaker 1: reality of all of this. Now they're going to get
Speaker 1: the headline and it's going to cost billions of dollars
Speaker 1: of taxpayers money that three hundred dollars power bill gift
Speaker 1: from the federal government. But as Andrew Clenell explained in
Speaker 1: our coverage a little earlier this evening, this is how
Speaker 1: it will actually work. And maybe the fireworks just become
Speaker 1: a bit of a sparkler that's running out and.
Speaker 5: You get seventy five a quarter. All of us, you know,
Speaker 5: Gena Reinhart gets it, Twiggy Forest gets it, we all
Speaker 5: get it. Everyone watching gets it. And I think it
Speaker 5: just rolls pretty much straight onto your bill.
Speaker 2: Wow.
Speaker 1: I don't know about you, but I will never forget
Speaker 1: this day, just like the great days in history where
Speaker 1: you know where you were, well, you will.
Speaker 2: Forever say to yourself, where.
Speaker 1: Was I on the fourteenth of May in twenty twenty
Speaker 1: four when this government ended the cost of living crisis
Speaker 1: by handing power companies seventy five dollars a quarter. You
Speaker 1: don't get the money, and then if you choose to
Speaker 1: spend it on something else you can. No, No, it
Speaker 1: goes to the power companies. The lefties will blop about
Speaker 1: it because it's fossil fuel companies. But that's the change
Speaker 1: to your life, because just like tax cuts, you don't
Speaker 1: pay an annual power bill. You pay a quarterly one.
Speaker 1: And if you pay a monthly one, it's twenty five dollars. Wow,
Speaker 1: thank you, doctor Jim. You've solved all my problems. What
Speaker 1: this is actually about is about trying to get around
Speaker 1: the key broken promise of the last election, the one
Speaker 1: when the Prime Minister said this.
Speaker 6: Households will benefit by two hundred and seventy five dollars
Speaker 6: on average, reducing power prices by two hundred and seventy
Speaker 6: five dollars prices two hundred and seventy five dollars, two
Speaker 6: hundred and seventy five dollars, two hundred and seventy five
Speaker 6: dollars a year, two hundred and seventy five dollars, two
Speaker 6: hundred and seventy five dollars a year.
Speaker 1: See, because they think you're stupid, they think you have
Speaker 1: no memory. They think somehow they can tell you, they
Speaker 1: can gaslight you on a detail. Enough that you will
Speaker 1: forget the reality power prices since those promises were made
Speaker 1: are up by the best part of one thousand dollars. Oh,
Speaker 1: so they're going to find a way to bring it
Speaker 1: down for one year only for three hundred dollars, and
Speaker 1: that's better than our two seventy five prom No. No,
Speaker 1: the two to seventy prime promise was on the power
Speaker 1: prices of May in twenty twenty one, not on the
Speaker 1: power prices of May twenty twenty four. And when challenged
Speaker 1: on the two seventy five number, this is what the
Speaker 1: treasurers said to again Kieran Gilbert in our coverage early
Speaker 1: It's to night.
Speaker 4: The number you're referring to is a forecast in twenty
Speaker 4: one about an outcome in twenty five. We're providing energy
Speaker 4: bill relief in the here and now, we did in
Speaker 4: the last budget, we are again in the next budget.
Speaker 4: But there'll be more relief for more people in this budget.
Speaker 2: No, No, that wasn't modeling. That was a promise.
Speaker 1: One so much so that we could feel the entire
Speaker 1: extra thirty minutes of this show, in the full ninety
Speaker 1: minutes to show you how many times they said it.
Speaker 1: But now they didn't say it, and twenty five dollars
Speaker 1: a month is apparently going to make you completely forget
Speaker 1: the your power bill has gone up by how much
Speaker 1: since this mob came to Power number two. No matter
Speaker 1: the spin, what we've told you about the tax cuts
Speaker 1: remains as true today as the first day we said it.
Speaker 1: In the real world, the tax cuts are too little,
Speaker 1: too late. They do not change the lived experience of Australians.
Speaker 2: Now.
Speaker 1: For workers around the country, they don't pay their tax annually.
Speaker 1: You pay your tax weekly, fortnightly or monthly. So when
Speaker 1: they turn around and talk up to the big number
Speaker 1: about the end of the year, that's not how you
Speaker 1: actually pay tax. So in the same way they're going
Speaker 1: to say three hundred dollars off power bills, it's not
Speaker 1: three hundred dollars off power bills. It's twenty five dollars
Speaker 1: a month off power bills. And you don't get the money.
Speaker 1: The power company gets the money. The reality of the
Speaker 1: too little, too late tax cut was that if you
Speaker 1: earn forty five thousand dollars, you're only going to get
Speaker 1: fifteen dollars a week, twenty two dollars a week if
Speaker 1: you earn sixty grand thirty two dollars a week if
Speaker 1: you earn eighty grand or forty one thousand dollars, if
Speaker 1: you earn forty one dollars, if you earn one hundred
Speaker 1: thousand dollars, it won't be that generous to them.
Speaker 2: That'll be next year's giveaway if they're still waiting for
Speaker 2: an election.
Speaker 1: But again the treasurer, who has been spinning the annual
Speaker 1: figure the penny, has dropped that the lived experience of
Speaker 1: people and why they don't buy the bs about the
Speaker 1: tax cuts is because you pay it weekly, fortnightly or monthly.
Speaker 1: So by the Treasurer's own admissions, he now says what
Speaker 1: the average figure is going to be for the tax
Speaker 1: cut per week, and think about whether this even touches
Speaker 1: the sides of the middle of the financial problems you're facing.
Speaker 4: The average benefit is one eight hundred and eighty eight
Speaker 4: dollars a year.
Speaker 2: Which is thirty six dollars a week.
Speaker 4: Our tax cuts are better for families and communities, women
Speaker 4: and young people. They are better for business, and they
Speaker 4: are better for the economy.
Speaker 1: Now remember how way back when when the Howard government
Speaker 1: handed out a tax cut and they were able to
Speaker 1: break it down by the fifty two weeks a year.
Speaker 1: It was a milk choke and a hamburger. Well, this
Speaker 1: might be slightly more generous, but it again doesn't change
Speaker 1: your life. Let me put this in terms that Australians
Speaker 1: will understand. The number one beer in the country is
Speaker 1: Great Northern. You cannot buy a case of Great Northern
Speaker 1: with this tax cut each week. And if you're somebody
Speaker 1: who really has the backside out of their strides, you
Speaker 1: wouldn't even be able to afford a six pack a
Speaker 1: week of Great Northern.
Speaker 2: So they will go around the country saying everyone gets
Speaker 2: a tax.
Speaker 1: Cut, it's not enough for a case of beer. Everyone
Speaker 1: gets a power cut. You're paying power companies to subsidize millionaires.
Speaker 1: And even if you think it's a good idea, it's
Speaker 1: twenty five dollars a month. Number three, the budget doesn't
Speaker 1: actually put out the other inflation fires. Now, obviously, look,
Speaker 1: I don't want to be crass, but imagine the least
Speaker 1: effective amount of liquid that you can put towards a fire.
Speaker 2: And this is even less.
Speaker 1: Why because despite the fact that Jim Chalmers said this
Speaker 1: as many times as he possibly could during his speech.
Speaker 4: Cost of Living, Cost of living, cost of living, cost
Speaker 4: of living, cost of living, cost of living, cost of living,
Speaker 4: cost of living.
Speaker 1: In the last month, the inflation figures on a whole
Speaker 1: bunch of things that Australians have to.
Speaker 2: Pay for are why higher.
Speaker 1: Than the dream of somewhere between two and three percent inflation.
Speaker 2: Have a look.
Speaker 1: Tobacco is up twelve percent, insurance is up eight percent,
Speaker 1: fuel is up eight percent, Rent is up seven percent,
Speaker 1: bread and cereal, alcohol and tobacco, non alcoholic, housing, electricy.
Speaker 2: Go on and on and on and on and on.
Speaker 1: Nothing in this budget helps you pay those bills. Nothing.
Speaker 1: And if they think that the not even case of
Speaker 1: beer tax cut is enough, well guess what. It's immediately
Speaker 1: washed out by any one of those other increases, including
Speaker 1: petrol tax that they have refused to cut. And wait
Speaker 1: till they explain why. In a moment or two's time.
Speaker 1: Four smokers, drinkers and drivers, Congratulations, thank you, there's a
Speaker 1: cuddle in the mail. Why because you are the only
Speaker 1: reason this mob can post a surplus. The surplus is
Speaker 1: nine point three million dollars. It's the first back to
Speaker 1: back surplus in decades, and isn't Jim Chalmer's amazing and
Speaker 1: all the rest of it.
Speaker 2: I'll get to the future in a second.
Speaker 1: But that nine point three billion is only achieved because
Speaker 1: the taxes they got this year, or do they expect
Speaker 1: to get this year out of petrol is seven point
Speaker 1: three billion dollars, which is why they won't cut the
Speaker 1: petrol tax. Diesel seventeen point four billion, which is why
Speaker 1: they won't cut that fuel tax. Tobacco eleven point five billion,
Speaker 1: which in and of itself alone keeps them in surplus. Literally,
Speaker 1: the tobacco tax in Australia is the only reason we're
Speaker 1: in a surplus. Hardly gold stars for great economic management right,
Speaker 1: let alone the bier which a tax cut still can't afford.
Speaker 1: If it's we're talking about a case or a sixty
Speaker 1: if you're earning forty five grand or spirits, well, remember
Speaker 1: a bottle of Bundy rum is more than sixty percent tax.
Speaker 1: The well forty two billion dollars in petrol, diesel, tobacco,
Speaker 1: beer and spirit taxes. That's the only reason they're in
Speaker 1: a surplus and the only reason the deficit isn't thirty
Speaker 1: billion dollars today, which brings me to point number five.
Speaker 1: Things are going to get worse and I mean really
Speaker 1: worse than the next of a while. Bear it inside
Speaker 1: the documents. Something nobody will say in the little five
Speaker 1: minute guard to the budget on the website. The expectation
Speaker 1: of an interest rate rise is interest rate cut is
Speaker 1: nothing this year. It's in fact not until the middle
Speaker 1: of next year. So currently, people who are having to
Speaker 1: find anywhere between an extra fifteen and thirty thousand dollars
Speaker 1: to pay off their home no relief whatsoever.
Speaker 7: But please vote for us because every household gets a
Speaker 7: power bill cut, every worker gets a tax cut, and
Speaker 7: in terms of jobs, a shocking number of Australians are
Speaker 7: going to lose their job in the next twelve months.
Speaker 1: It's not me saying it, it's the Treasurer saying it
Speaker 1: in the speech.
Speaker 4: Slower growth means a softer labor market, with unemployment expected
Speaker 4: to rise slightly to four and a half percent next year,
Speaker 4: even as we create tens of thousands of new jobs.
Speaker 1: Let me explain it this way. Current unemployment three three
Speaker 1: point nine percent. Expectation in this budget is that it
Speaker 1: goes up to four point five. It stays above four
Speaker 1: as far as the eye can see. If we hit
Speaker 1: a four point five percent unemployment rate. That's one hundred
Speaker 1: and three thousand, six hundred people who will lose their jobs.
Speaker 1: Oh but every household gets a power bill, and every
Speaker 1: worker is going to get a tax cut. And then
Speaker 1: there's the actual government itself, because as I've shown you,
Speaker 1: the only way they got to surplus even with all
Speaker 1: of those taxes. Guess how deep they're going to go
Speaker 1: into deficit next year, the year after and as far
Speaker 1: as the eye can see.
Speaker 7: Have a look at this.
Speaker 1: This year surplus is nine point three billion, next is
Speaker 1: deficit is twenty eight billion. The year after that forty two,
Speaker 1: then twenty six billion, because magically everything changes, and then
Speaker 1: twenty four billion dollars. So while the treasurer will say,
Speaker 1: how good have I been, I've saved a bit of
Speaker 1: money on the debt. Okay, let's say one hundred percent
Speaker 1: of what he says is true. So the eighty biding
Speaker 1: that apparently cut from the debt will now be replaced
Speaker 1: by an increase in federal government debt that will now
Speaker 1: take us to one point two trillion. All those deficits
Speaker 1: added together on top of the current debt takes us
Speaker 1: to one point one trillion dollars.
Speaker 7: Oh but there's a power cut for every household, and
Speaker 7: there's a tax cut for every worker.
Speaker 1: That won't be able to change anything about your life.
Speaker 1: So those are my five things. I'm can you know
Speaker 1: what yours are? To send me in my pulitsgunews dot
Speaker 1: com dot are you. Here are my dear friends and
Speaker 1: colleagues from the Kenny Report, which you can see five
Speaker 1: o'clock Eastern each and every night. Primetime starts with the
Speaker 1: Great Chris Kenny, none other than the King amongst us.
Speaker 1: The Great Andrew Bolt joins us as well. Lads, let's
Speaker 1: get through all of this. So anything I missed.
Speaker 2: Chris, No, you're on the money.
Speaker 8: I'm never going to complain about your smoke again and
Speaker 8: your cigars. I'm going to slap you on the back
Speaker 8: and thank you for keeping the country going on. This
Speaker 8: is a government that was prepared to sell out Israel
Speaker 8: to try and save a handful of seats, So why
Speaker 8: would we be surprised that they sell out the entire
Speaker 8: budget strategy to try and win an election.
Speaker 2: This is quite extraordinary.
Speaker 8: They're maintaining historically high levels of taxation, historically high levels
Speaker 8: of spending, historically high levels of debt, and they say
Speaker 8: they're going to cut immigration but keep immigration at historically
Speaker 8: high level. So all of the concerns that people have
Speaker 8: are only going to be exacerbated in coming years.
Speaker 3: And it's all pitched.
Speaker 8: They pick a slogan and an election campaign ad, and
Speaker 8: then they find our billions of dollars to pay for it.
Speaker 2: That's what I think of this election.
Speaker 8: It's all about slogans funded by our tax dollar.
Speaker 2: My oath.
Speaker 1: Andrew Bolt joining us from Melbourne, great man, love you
Speaker 1: to see you, tell me your thoughts and did I
Speaker 1: get anything wrong?
Speaker 9: Then? The basic bottom line is we've got good times,
Speaker 9: you know, despite the Treasurer trying to tell us, oh,
Speaker 9: the overseas situation is not too good, which has been
Speaker 9: saying every single budget. If there's something wrong here, I
Speaker 9: was caused by overseas, never by labor. Things are pretty good.
Speaker 9: We've got record amounts of tax coming into the government's coffers.
Speaker 9: And what does the Treasurer produce four more years of
Speaker 9: deficits one hundred and twelve twelve billion dollars added to
Speaker 9: the reading that this country's already in I find that unbelievable.
Speaker 9: And also he says unemployment's going to get worse. Inflation
Speaker 9: is a little bit sticky. But oh, by the way,
Speaker 9: he says, I've just cutted by half a percent of
Speaker 9: this this rent subsidy and this energy subsidy. By the way,
Speaker 9: both of them are and saving for labor mistakes by
Speaker 9: taking money out of one of your pockets and putting
Speaker 9: it back in the other pocket. And you're supposed to
Speaker 9: feel better off.
Speaker 2: I mean, what a joke.
Speaker 9: Look, the whole thing is, he says, the treasure's big hope, right,
Speaker 9: is that this budget has taken pressure off the Reserve
Speaker 9: Bank and made it possible to lift to cut interest
Speaker 9: rates and cut your mortgage payments as well through that.
Speaker 9: In fact, it won't because what it does, this is
Speaker 9: the biggest con in the budget. He has given this subsidy,
Speaker 9: the rent and the money for your to compensate for
Speaker 9: the increases in your power bills thanks to global warming policies.
Speaker 9: People that are hard up, what do you think they're
Speaker 9: going to do with extra money? They're going to spend it.
Speaker 9: What's the Reserve Bank trying to do? Take money out
Speaker 9: of the economy. The Government's just added money to the economy.
Speaker 9: Is going to mean the cut in interest rates that
Speaker 9: the government's hoping for will be delayed. This is just
Speaker 9: smoke and mirrors, more debt, more joblessness and higher interest
Speaker 9: rates for longer. That is what the government has done
Speaker 9: with record income coming in. I can't believe it.
Speaker 1: Yeah, let's put us in boxes, guys, because I want
Speaker 1: everyone to be able to have a chat took across
Speaker 1: each other. It's mates talking on the telly to our
Speaker 1: mates watching at home, all right, So feel freebody at
Speaker 1: any time. Of course, Chris about the power side of things,
Speaker 1: there's a dirty little trick also in here. Remember Chris
Speaker 1: Bowen has effectively done the trick with the NBN, which
Speaker 1: is to move tens of billions.
Speaker 2: Of dollars off the budget so we never see it.
Speaker 1: But you still have to borrow money for it, right,
Speaker 1: in order to build the renewable infrastructure that in part
Speaker 1: has now seen and the cost of transition building this
Speaker 1: stuff is why people's power bills in part have gone up.
Speaker 1: I mean they can talk about Ukraine as much as
Speaker 1: they want. The moving from the car with four wheels
Speaker 1: the car with three wheels and telling us it will
Speaker 1: break the record of bathist is that's the cost of transition.
Speaker 1: It's a trillion dollars. Yet they turn around now and say, well,
Speaker 1: we're going to light the fire and compensate you for
Speaker 1: the fire. It reminds me of Gillard with the carbon tax,
Speaker 1: will introduce the tax and compensate you for it.
Speaker 8: Well, it's like they're treating us as hostages, you know,
Speaker 8: and they're denying us our liberties, and then they're saying, oh,
Speaker 8: here you are, here's a little glass of water.
Speaker 3: It would be grateful for us.
Speaker 8: The national self harm here in this energy policy is extraordinary.
Speaker 8: We have got historically high, the highest electricity prices we've
Speaker 8: ever had in this country. The reason we've got them
Speaker 8: is because labor and other governments have been subsidizing renewables,
Speaker 8: that've been subsidizing the transmission to connect the renewables, that've
Speaker 8: been subsidizing the batteries to try and store the renewables.
Speaker 8: Then they realize that they didn't have enough energy, so
Speaker 8: they're now subsidizing the coal generators to try and maintain
Speaker 8: the power. And they've given us this unprecedented electricity cost burden.
Speaker 8: So now they're subsidizing people's power bills to try and
Speaker 8: let us get through the power price increases. They've inflicted
Speaker 8: on us. And to make it worse, as you pointed out,
Speaker 8: these subsidies which will pay the power bills partially on
Speaker 8: behalf of us to the power companies, will go to
Speaker 8: millionaires as well. They will go to millionaires Malcolm Turbul,
Speaker 8: Cake Blanchett, Clive Palmer, they will get the.
Speaker 3: Three hundred dollars rebate. It's obscene and absurd.
Speaker 1: But also I mean remember what they were doing, this
Speaker 1: Labor Party complaining Andrew about when paper in a leave
Speaker 1: an Tony Abbott was trying to put in both.
Speaker 2: Oh we subsidizing of the millionaires and all the rest
Speaker 2: of it.
Speaker 1: But the argument of Jim Chalmers is, oh well, cost
Speaker 1: of living affects everyone, up and down the power scale,
Speaker 1: up and down the economic scale. I think this is
Speaker 1: going to be an issue. I mean, you see that
Speaker 1: the Liberal Party in their early response tonight is that
Speaker 1: they're going to wave it through because they don't want
Speaker 1: to get caught in that they voted against power relief thing.
Speaker 1: But then you heard some of those senators saying this
Speaker 1: isn't going to work. Is this going to be the
Speaker 1: Amber claim? That means the compensation goes through and the
Speaker 1: Senate will amend it, or they just think that the
Speaker 1: politics become so difficult because Peter Dutton voted against a
Speaker 1: reduction in power bills for every Australian household.
Speaker 9: Listen, a lot of the millionaires you're talking about, of course,
Speaker 9: were dudded of the tax cuts that they were promised
Speaker 9: four or five years ago. Now it won't make up
Speaker 9: make up a toinious fraction of the bracket creep that
Speaker 9: has given the government billions and billions.
Speaker 3: More So, I'm not going.
Speaker 9: To be too upset that people you pay the vast
Speaker 9: majority of the country's taxes, going to three hundred bucks
Speaker 9: back will be do I mean, the basic bottom line
Speaker 9: is here labor unable to curb its spending. And also,
Speaker 9: to pick up on what Chris was saying, it's quite right.
Speaker 9: You know, we've had all these green policies inflicted on
Speaker 9: us to insulate us from just a fraction of that pain.
Speaker 9: They're giving a three hundred dollars bailout on energy bills,
Speaker 9: that's it right. But meanwhile they're doubling down with a
Speaker 9: Hail Mary, w your bets or nothing, bet the house
Speaker 9: on your last race. Green hydrogen. The happiest man in
Speaker 9: Australia with this budget is Andrew Forrest, you know, a
Speaker 9: billionaire green investor.
Speaker 8: Government thinking millions of dollars of subsidies.
Speaker 9: And marine hydrogen. No no, but it's come the government
Speaker 9: into green hydrogen in this budget. Right. The government's already
Speaker 9: our government's already tried to back other forms. I tried
Speaker 9: geothermal power, which was supported by Tim Flanner, flopped, failed.
Speaker 9: They tried wave generators, three projects all failed. They've tried
Speaker 9: all sorts of things, you know, solar and wind cutting it.
Speaker 9: So they've got to go for more gas explosion. They're
Speaker 9: big hal mirry. Now we're going to invest not in
Speaker 9: that wicked nuclear power. It's going to be in green hydrogen,
Speaker 9: which has been proven at scale nowhere in the world.
Speaker 9: And it's pouring tens of billions of dollars into this stuff,
Speaker 9: which is a gamble, and that apparently is going to
Speaker 9: fix your power bills and solve the lack of power
Speaker 9: in this country, cause by net zero policies it won't.
Speaker 9: It's a disaster. And boy, we'll get the bill later
Speaker 9: down the track.
Speaker 1: I've been wilentless on this for as long as we've
Speaker 1: had access to the microphone that I just again, I'm
Speaker 1: not going to use the crudism, but you know that
Speaker 1: concept of being wet upon from up high and they
Speaker 1: tell you it's rain. I get this feeling right that Again,
Speaker 1: when you're sitting around and you're putting together a budget,
Speaker 1: the Treasury is all very excited because a billion here
Speaker 1: and a billion there and six point four billion here,
Speaker 1: and they're able to sit back and say, you know,
Speaker 1: the tax cuts cost US one hundred and whatever billion
Speaker 1: dollars over ten years, and the power bill relief it
Speaker 1: costs X billion dollars over years.
Speaker 2: But I go back to the.
Speaker 1: Lived experience of the consequences of the promise right now.
Speaker 1: All of that means they've got a talking point, right,
Speaker 1: and they're going to hammer it and hammer it and
Speaker 1: hammer it and hammer it about every household and every worker.
Speaker 1: But Chris, one of the reasons I've relentlessly talked about
Speaker 1: too little, too late when it comes to the tax
Speaker 1: cut is if at the moment, your average power bill
Speaker 1: in Australia I'm looking one of those consumer websites is
Speaker 1: nineteen hundred dollars a year. The three hundred dollars you're
Speaker 1: not going to notice, right because it comes out in
Speaker 1: seventy five dollars chunks. If the average tax cut is
Speaker 1: thirty nine dollars a week, are you going to notice
Speaker 1: it now?
Speaker 2: Instantly?
Speaker 1: People are going to say, well, on what about the
Speaker 1: the people on ultra low incomes? Well, yes, those people
Speaker 1: will notice, but it won't change their life.
Speaker 2: And that's what.
Speaker 1: Annoys me, because the politics is we've changed your life.
Speaker 1: They have not.
Speaker 2: No, they haven't.
Speaker 8: But any tax cut is a good tax cut, and
Speaker 8: these are coalition tax cuts. Effectively, although labor reshaped them.
Speaker 8: Make sure that nobody over one hundred and forty seven
Speaker 8: grand I think gets it gets as much as they
Speaker 8: are going to get, and that takes away the aspiration.
Speaker 8: But the thing here is with the electricity rebate, right,
Speaker 8: they're doing nothing, as Andrews said that doubling down on
Speaker 8: these green programs. They're investing tens and tens of billions
Speaker 8: of dollars of our money into more of these hail
Speaker 8: mary programs, and they won't look at the reliable energy
Speaker 8: we need. So our energy crisis is going to continue.
Speaker 8: Power bills are going to continue to go up. They're
Speaker 8: doing nothing about the fundamentals. So this one year three
Speaker 8: hundred dollars rebate that doesn't even make up for how
Speaker 8: much they've increased in the last two years, is just
Speaker 8: going to disappear like peace in the wind. Sorry to
Speaker 8: be so crude, please, and I do not improve of
Speaker 8: problem only gets worse. It can only get worse, it
Speaker 8: will only get worse. And labor there's not a policy
Speaker 8: in this budget that seems to cast its mind more
Speaker 8: than six months down the track.
Speaker 1: Well, so let's talk about the future here, Andrew where
Speaker 1: if they're telling us now that it's deficit next year,
Speaker 1: deeper deficit the year after that, that they've saved us
Speaker 1: from the dead of the evil Morrison government. Remember this
Speaker 1: is the bloke when he was the shadow treasurer one
Speaker 1: of the taxpayer buy virgin airlines. Okay, they wanted that
Speaker 1: to go even deeper, job keeper to go forever, all
Speaker 1: the rest of it, right, but still this government is
Speaker 1: going to be the one that's going to take us
Speaker 1: over a trillion. It's going to take us to one
Speaker 1: point one trillion in the next couple of years.
Speaker 2: Now.
Speaker 1: The politics they're going to try to play here is oh, well,
Speaker 1: the deficit we said was going to be really bad,
Speaker 1: but it's only this bad next year, or we were
Speaker 1: able to squeeze it into a surplus.
Speaker 2: But if the reality of.
Speaker 1: The key economic document that the governman has said is
Speaker 1: one hundred thousand people lose their jobs and the country's
Speaker 1: going to one point one trillion dollars, how does anyone
Speaker 1: who even wants to hold water for the Labor party
Speaker 1: say this is a great document.
Speaker 9: I know, I mean it's based it's the best dishonest budget,
Speaker 9: the craziest budget I've seen forever. For federal budget, I mean,
Speaker 9: the Victorian state budget takes some believing too, but federally,
Speaker 9: this is the most amazing budget I've seen, and it's
Speaker 9: based on deceit. I mean, to pick up on what
Speaker 9: Chris is saying right here, we've had green policies and
Speaker 9: their state and federal labor green policies on global warming
Speaker 9: have caused power prices to go through the roof, and
Speaker 9: the government says, to compensate for that idiocy that we
Speaker 9: have created, we are going to give you three hundred
Speaker 9: three billion dollars three hundred dollars per perse per household,
Speaker 9: three hundred dollars per household relief from your power bills
Speaker 9: of money that we're actually taking from you. I mean,
Speaker 9: in what universe is it power? Is it relief? To
Speaker 9: have money taken from you and then given back to
Speaker 9: you to compensate for the extra even more money that
Speaker 9: you've had to pay because of this government's errors. And
Speaker 9: let's not forget the other handout here of the debt relief,
Speaker 9: which is what one point three billion dollars more. I
Speaker 9: mean the money that they're just checking out comes, that
Speaker 9: is for low income people who are struggling to meet
Speaker 9: their rent.
Speaker 3: What has caused the.
Speaker 9: Explosion in rent immigrants another labor mistake, the immigration five
Speaker 9: hundred and fifty thousand people in a single year without
Speaker 9: building the houses to accommodate them. And so the mortgages
Speaker 9: and mortgages have gone up, sorry, house prices have gone up,
Speaker 9: and also rents have gone up. And to compensate for
Speaker 9: this labor error, some people are going to get a
Speaker 9: little help with their rent relief. I mean, seriously, seriously,
Speaker 9: it is a con fix immigration, fix your power. They
Speaker 9: won't do policies.
Speaker 1: This is my point about it. That we're treating is
Speaker 1: like hostages.
Speaker 3: Andrew.
Speaker 8: It's like they want us all to be dependent on
Speaker 8: some government handout or some government repay and no repay
Speaker 8: remetter how much they punish us with their bad policies,
Speaker 8: We're supposed to be grateful for the little crumbs they
Speaker 8: throw back at us of our money. It's outrageous and
Speaker 8: the hope to see.
Speaker 3: It through it.
Speaker 9: But as you said, Chris, right, you know, if I'm
Speaker 9: still some repentance in this budget, it's say, oh, well,
Speaker 9: fainth heavens have seen the error of their ways. No,
Speaker 9: they're compensating us, yes, for their global warming policies.
Speaker 3: But doubling down on them.
Speaker 9: And an immigration they say, all right, look, all right,
Speaker 9: you know you got us. We're going to the immigration rate.
Speaker 9: When they have the immigration rate. Know this, it'll still
Speaker 9: be more than double the long term immigration that we've had.
Speaker 9: It'll still be much more than we need. It will
Speaker 9: still drive prices, rents and house prices through the roof.
Speaker 9: It will still crowd your cities. I mean, where is
Speaker 9: the lessons being learned here?
Speaker 1: So let's talk about the question that is being discussed
Speaker 1: amongst the bubble, which is is this the precursor to
Speaker 1: an election? I think that it gives them a chance
Speaker 1: at one. Right, it's about trying to now again, prime
Speaker 1: Minister will decide when the Prime Minister decides. Now he's
Speaker 1: able to do so from August under the rules about
Speaker 1: when you can have an election and you can go
Speaker 1: all the way to a few months into next year.
Speaker 2: That's the reality, right.
Speaker 1: But their hope is that tax returns start to change
Speaker 1: after July, that the first of your bills is slightly
Speaker 1: down after the first quarter.
Speaker 2: After July.
Speaker 1: The hope is that the political message will be boomborm worm.
Speaker 2: About every household, every taxpayer.
Speaker 1: And on top of that, don't forget they're spending forty
Speaker 1: million dollars of your money to remind you about the
Speaker 1: two little too late tax cuts and how amazing they are.
Speaker 1: So who knows, but Chris, does it seem like they're
Speaker 1: giving themselves a window if they think this is the
Speaker 1: moment to go before this.
Speaker 2: Year is done. Undoubtedly, Paul.
Speaker 8: Now, as you know, I've been saying to you for
Speaker 8: quite some time that I thought an election later this
Speaker 8: year is very much on the cards. And one of
Speaker 8: the reasons I've been saying that is because we've been lucky.
Speaker 8: The whole country has been lucky with a couple of
Speaker 8: mild summers. If we get a normal summer, we are
Speaker 8: going to run short of electricity. We're going to have
Speaker 8: a February March where we don't have enough power in
Speaker 8: this country. That's what all the experts tell us. We've
Speaker 8: just been lucky with the weather. So I've always thought
Speaker 8: labor would be very, very nervous about going to an
Speaker 8: election on the back of US summer of blackouts and
Speaker 8: electricity crisis. And now take the step back to this budget,
Speaker 8: all of this plays into it. There's the tax cups
Speaker 8: come through this electricity handout. They'll try and hope that
Speaker 8: there's a little bit of a dip in inflation for
Speaker 8: a while at least, that interest rates don't go up
Speaker 8: between now and Christmas. And you get the Queensland election
Speaker 8: out of the way in October, and there is a
Speaker 8: window there for late November or even early December. Now,
Speaker 8: they wouldn't have made up their minds yet. You've got
Speaker 8: to wait and see how the cookie crumbles. But I
Speaker 8: think there's absolutely a chance that if these things line up,
Speaker 8: but before things go pair shape for them, they'll try
Speaker 8: to run off to the polls before the end of
Speaker 8: the year.
Speaker 1: Because again, Andrew, let's talk about the truth here about
Speaker 1: how Labour used the next election, which is, even if
Speaker 1: they lose a few seats, even if they go into minority,
Speaker 1: there's enough people on the cross bench before you get
Speaker 1: to the Greens that'll be able to prop them up.
Speaker 1: Right current Newspole they could lose four, which puts them
Speaker 1: two into a minority. Well, I mean literally, Rebecca Sharky, Bobcatter.
Speaker 1: There's a whole bunch of options before you start to
Speaker 1: get to Teals and Greens. And their assumption is the
Speaker 1: Teals aren't going anywhere. So no matter what happens, no
Speaker 1: matter what we say, the Liberals can't get anywhere near
Speaker 1: seventy six. Given that scenario, does the government then think, okay,
Speaker 1: we can kind of you know, put back a little stuff,
Speaker 1: a little bit in the horse, but it's going to
Speaker 1: be enough to get us over the line.
Speaker 9: Look, they'd rather be in government and coalition with the
Speaker 9: Devil than not being government at all. But I'll tell
Speaker 9: you what if they're in coalition, if they rely on
Speaker 9: Green votes, not necessarily in coalition, but you know they
Speaker 9: have to dance to the Greens tunes, that's going to
Speaker 9: be terrible for Labor for the next election, and terrible
Speaker 9: for the country. They would rather avoid that. But when
Speaker 9: an election will be will be totally now dependent. I mean,
Speaker 9: as both of you say, there is a window now
Speaker 9: for an election this year, but it will be totally
Speaker 9: dependent on two things, or essentially really. One one will
Speaker 9: be what are interest rates going to do? If they
Speaker 9: look like not coming down the government's in real troubles.
Speaker 9: They look like going up, that's fatal. They've got to
Speaker 9: go before that, absolutely. And the other is of course
Speaker 9: the poles. So it's pole watch now. From now on
Speaker 9: it is pole watch. But I have to say when
Speaker 9: you have a look at the structure of this where
Speaker 9: they're saying it's going to be black ink sorry read
Speaker 9: ink from now on four years of huge deficits, rising unemployment,
Speaker 9: maybe not interest rate relief and this compensation for the
Speaker 9: power bills will last precisely one year.
Speaker 2: That's it. One year.
Speaker 3: That's all that's for.
Speaker 9: I don't know that there are many good times coming,
Speaker 9: particularly if China slows or the money for our exports
Speaker 9: of iron ore and coal for even more. So i'd
Speaker 9: suggest that they're from now on it's a live well
Speaker 9: from August or so, it's a very live option. But
Speaker 9: everything now depends on the polls.
Speaker 1: All right, Thank you guys, love you both very much.
Speaker 1: Of course, it's always tough to do it in real
Speaker 1: time because we don't go into the room and read
Speaker 1: it all for seven hours. I appreciate all of the
Speaker 1: brains you've brought to the show this evening. We of
Speaker 1: course see you at five o'clock and seven o'clock tomorrow
Speaker 1: night with a great Pety Britain on at six.
Speaker 2: Thank you, guys, do appreciate it.
Speaker 1: All right, quick break back with more plenty more to
Speaker 1: talk about here ninety minute edition of Paul Murray Live.
Speaker 1: We go all the way to the next top of
Speaker 1: the hour, and then the late debate will be here
Speaker 1: as well, so no one's going anywhere. I hope you've
Speaker 1: got the nice groove because coming up Michael Kroger, Joe Hildebrand,
Speaker 1: who will agree on nothing.
Speaker 2: Looking forward to that next.
Speaker 1: Let's keep it going special ninety minute edition of Paul
Speaker 1: Murray Live. Thanks for sticking with us to talk about
Speaker 1: the budget.
Speaker 2: The messages, the reality, and a whole lot or nothing
Speaker 2: that's there as well.
Speaker 1: Joe Hildebrand, of course, is from the Daily Telegraphed the
Speaker 1: Year of our to tell us that it's a great thing.
Speaker 1: Evan Michael Kroger, the man with his ear to the
Speaker 1: ground about how this really works. Let's get to it, okay,
Speaker 1: So headline thoughts, Michael about what they've delivered here about
Speaker 1: whether it moves the needle. Is there anything in it
Speaker 1: that legitimately is a great investment or changes people's minds
Speaker 1: about the government.
Speaker 2: What do you think of the budget?
Speaker 10: Well, according to the Daily Telegraph poll, ten percent think
Speaker 10: the budget was good or very good and seventy five
Speaker 10: percent think it was poor or very poor. That's the
Speaker 10: online poll at present, So.
Speaker 3: That's a pretty good reason time. I think what it.
Speaker 10: Tells you is there's less likelihood of an election this year.
Speaker 10: I think that's very unlikely, very unlikely. I mean unless
Speaker 10: the Reserve Bank reduced rates at the September meeting. Labor
Speaker 10: can't go to the election without rates having come down.
Speaker 10: So that's not going to be till early next year,
Speaker 10: maybe November or December board meeting if Treasury forecasts are right.
Speaker 10: But they need rates to drop before they say to
Speaker 10: the elected, hey, we know what we're doing.
Speaker 3: The jury's out at.
Speaker 10: The minute on this. Fellow Charmers writing looks good sounds
Speaker 10: good that you know it's not very good, but they
Speaker 10: don't quite know that. If interest rates don't come down,
Speaker 10: they can't go to an election because they're going to think, La,
Speaker 10: we're being conned.
Speaker 1: Yeah, I mean Joe again, so that window of an election.
Speaker 1: I heard your agreement, so I won't waste time asking,
Speaker 1: but your sense of does it match the times we're
Speaker 1: in because we know the anger that exists on costaly, Yes,
Speaker 1: we know what limit government can play. Does it match
Speaker 1: those times?
Speaker 3: Yeah?
Speaker 11: Well, I think the budget is actually meant to do
Speaker 11: nothing and that's exactly what it does, and that's.
Speaker 3: A good thing.
Speaker 11: I'll give you an exclusive here. We were thinking about
Speaker 11: going with Jim Chalmers's Jerry.
Speaker 3: Seinfeld on the front page of the Telly and call.
Speaker 11: You it's all about thing, and it kind of is
Speaker 11: because he's caught an ultimate economic catch twenty two. If
Speaker 11: he delivers relief for cost of living, which people are
Speaker 11: crying out for, that risks fueling inflation, which then makes
Speaker 11: things worse in the long term. And if you're an
Speaker 11: altruist or if you're just trying to win an election
Speaker 11: in a year's time.
Speaker 3: That's a very very very bad thing.
Speaker 11: So they can't do that, they don't want to do that,
Speaker 11: and they're not going to do that. And so you've
Speaker 11: got people saying in the same breath often and often
Speaker 11: the same people, either, you know, it's too much spending,
Speaker 11: is too inflationary, but it's not enough, it's not providing
Speaker 11: enough relief. So that to me, as John Howard said,
Speaker 11: when both sides are criticizing you, shows you've.
Speaker 3: Probably got the balance about right.
Speaker 11: I think the budget is pretty much a holding pattern,
Speaker 11: just to keep things as they are and just to
Speaker 11: hope that all those settings that are already in place
Speaker 11: flow through. Michael is absolutely correct. There is no way
Speaker 11: on earth the government is going to go to an
Speaker 11: election before rates start coming down or before inflation, which
Speaker 11: is next year, before inflation gets to that's right about
Speaker 11: that three percent or below. The other interesting thing, of course,
Speaker 11: is this discrepancy between the Treasury forecast for inflation and
Speaker 11: the RBA forecast for inflation. Now an important thing here
Speaker 11: people saying, well, the Treasury is just making up treasures.
Speaker 2: Rowing first, justica.
Speaker 11: The justification has been, well, the RBA doesn't know what's
Speaker 11: in the budget. Well everyone knows now, But this means
Speaker 11: that Treasury thinks that far from being inflationary, this budget
Speaker 11: is actually going to be counterinflationary.
Speaker 3: That's actually going to bring inflation.
Speaker 11: Down more than if things were basically kept at the
Speaker 11: status quo. So I think that's an interesting thing as well.
Speaker 11: But it's like the Hippocratic ith, first, do no harm.
Speaker 11: This is a budget that just whatever it does, does
Speaker 11: not want to make things worse.
Speaker 1: Ven Michael just the devil's advocate on alls, right, which
Speaker 1: is that that do no harm principle. But also if
Speaker 1: you don't make anyone happy, if your standing has changed
Speaker 1: since the last time you asked for the job, then
Speaker 1: the number of directors that are going to sit around
Speaker 1: and vote for you falls.
Speaker 2: And this is a government that doesn't.
Speaker 1: Have that huge backminch to be able to go to
Speaker 1: an election in a diminished position. And it's going to
Speaker 1: be a relentless thing because it's how I view the world,
Speaker 1: which is all these big numbers said on TV tonight
Speaker 1: and announced out of camera.
Speaker 2: But if the lived experience is.
Speaker 1: Seventy five dollars a quarter off your power bill and
Speaker 1: thirty nine dollars a week as a tax car when
Speaker 1: your car insurance has gone up by a couple hundred
Speaker 1: bucks when your petrol goes up and confluctuate by fifty
Speaker 1: bucks depending on what the week is. But the government's
Speaker 1: saying we're doing something, we're doing something. Why would anyone
Speaker 1: believe them?
Speaker 7: Mate?
Speaker 10: Gofilin once said of the Phraser government, it's a government
Speaker 10: that can't arise above its origins, meaning it got into
Speaker 10: government illicitly. Elbow can't arise above the origins of his government,
Speaker 10: which were deeply rooted, deeply rooted in those thousand or
Speaker 10: more quotes we've seen of Elbow, of charmers, the whole wong,
Speaker 10: the whole lot of them saying there's a cost of
Speaker 10: living crisis, crisis, crisis created by Scott Morrison. Right, they
Speaker 10: kept using that phrase, cost of living crisis. I don't know, mate,
Speaker 10: I heard it five times a day.
Speaker 7: Right.
Speaker 10: That was the talking point for months and months and months.
Speaker 3: What did that do?
Speaker 10: It created the expectation in the minds of the electorate.
Speaker 10: Oh it's Scott Morrison. He's terrible. He's created this incredible
Speaker 10: crisis that Albow will be able to solve because he's
Speaker 10: got a plan to solve it. Now, the electric will
Speaker 10: not be taken for mugs right. They'll always work you out,
Speaker 10: as rich O, our friend Richo says. What they've worked
Speaker 10: out is this that Alba Nezi never had a plan.
Speaker 10: This was bull dust, This was politics. How are we
Speaker 10: going to undermine Morrison? The Poland would have said, Hey,
Speaker 10: people a bit worried about cost of living, blame it
Speaker 10: all on Morrison. Create a sense of crisis. Use the
Speaker 10: word crisis in every center. Crisis has got to be
Speaker 10: attached to the word cost of living. Okay, it was
Speaker 10: all Morrison's fault. Albo could flick the switch and ease
Speaker 10: it now. So the two hundred and seventy five dollars,
Speaker 10: for example, which will be run by the Liberal Party
Speaker 10: night at a million times during the election. This is
Speaker 10: his problem. He cannot rise above his origins. He conned
Speaker 10: people into thinking it was all Morrison's incompetence and he
Speaker 10: could fix this very easily. I don't even worry about it.
Speaker 10: The two seventy five of the checks in the mail,
Speaker 10: that is his main problem. Made people think he's a liar.
Speaker 10: People think he's a bulldos artist. People think the promises
Speaker 10: he made during the election were written on toilet paper.
Speaker 10: There was no modeling where's the modeling for two hundred
Speaker 10: and seventy five dollars? On and on and on.
Speaker 1: Well, and in fact about that particular promise. This is
Speaker 1: how Jim Chalmers is going to try to pretend they
Speaker 1: never made it.
Speaker 4: Have a look, the number you're referring to is a
Speaker 4: forecast in twenty one about an outcome in twenty five.
Speaker 4: We're providing energy bill relief in the here and now.
Speaker 4: We did in the last budget, we are again in
Speaker 4: the next budget. But there'll be more relief for more
Speaker 4: people in this budget.
Speaker 2: Joe, and I'm going to be done on you. But
Speaker 2: as somebody who is laborer.
Speaker 1: On this, how does this work? Tony Abbott says, vote
Speaker 1: for me and I'll stop the boats. Yeah, you have
Speaker 1: to stop the boats. If you say to seventy five,
Speaker 1: you have to deliver to seventy five. And now if
Speaker 1: they say they're going to deliver three hundred, it's not.
Speaker 1: It's three hundred off the high for one year only,
Speaker 1: not a structural change. So are they allowed to really?
Speaker 3: Well, I think that's where it's going.
Speaker 11: I'm always very wary of making specific predictions of specific
Speaker 11: amounts astment.
Speaker 3: You're not going to get it. That's right.
Speaker 11: But what they will say, so, well, we've just cut
Speaker 11: power bills. Every time you say you said you're going
Speaker 11: to power bills, we're going to go down by two.
Speaker 3: Hundred and seventy five.
Speaker 11: That can come back and say, well, we've already taken
Speaker 11: them down by three hundred so more than that, we've
Speaker 11: done that a lot. And they're already thinking in that
Speaker 11: way because they've said that they're rental subsidies and the
Speaker 11: power bill subsidies are actually bringing inflation down, so by
Speaker 11: five percent, but it's not even that though, but because
Speaker 11: the way they're framing it is that the government, by
Speaker 11: absorbing the difference in the cost between what someone otherwise
Speaker 11: would be paying, is a reduction in inflation, as though
Speaker 11: the government is sort of playing the role of the
Speaker 11: market economy. So that's a little bit of sort of
Speaker 11: rubberiness there. But again I think that in terms of
Speaker 11: what people reward the government for or punish it for, again,
Speaker 11: they're not going to be making They're not walking into
Speaker 11: the ballot box tomorrow or next week. It doesn't matter
Speaker 11: whether there's a bounce in the poles. What matters is
Speaker 11: whether people are seeing relief when the government goes the
Speaker 11: poles probably in the later first half of next year,
Speaker 11: and if there is an interest rate relief by then,
Speaker 11: an interest rate cut by then, and if inflation is
Speaker 11: sitting between two and three percent, so people think, right,
Speaker 11: rates are going to keep coming down in the future. Right,
Speaker 11: They're going to look back to that budget, the last
Speaker 11: one that was sound down, said wow, the government got
Speaker 11: it right, and that is that is what if anything
Speaker 11: is going to get the most. It won't be this
Speaker 11: seventy five dollars that I'm not really seeing coming off
Speaker 11: my quarterly power bill, or as you say, the twenty
Speaker 11: dollars a week tax cut, or whatever you want to
Speaker 11: call it.
Speaker 1: But my point is that it's Australian politics one of
Speaker 1: the failures of its change over the past generation.
Speaker 2: Okay, from when we had a lot.
Speaker 1: Of money and they just came up with ways to
Speaker 1: give it to you to where we sit today and
Speaker 1: all the government's up and down and in between. This night,
Speaker 1: Budget Night has been turned from from economic national statement
Speaker 1: into what's in.
Speaker 2: It for you?
Speaker 1: Everyone has got used to, Michael in a political generation
Speaker 1: that the next day your favorite news site will have
Speaker 1: a little thing saying calculator put in how much you
Speaker 1: earn and see what happens. Right, So governments are locked
Speaker 1: in this death spiral, and I mean financial death spiral
Speaker 1: and structural death spiral with the budget. The last people
Speaker 1: to try and do something about it Joe Hockey, and
Speaker 1: we all know the disgrace that was thrown in his
Speaker 1: way when they were trying to fix the structure. They
Speaker 1: were trying to cut the can answer, but the cancer
Speaker 1: gets worse.
Speaker 2: How do you think is it about?
Speaker 1: Is the challenge now about the way people remember to
Speaker 1: seventy five?
Speaker 2: Is that?
Speaker 1: Is it up to the marketing of labor versus the
Speaker 1: marketing of the Liberal Party? Or is there a normal
Speaker 1: X factor in the suburbs that says, hang on, mate,
Speaker 1: you said you were going to stop the boats and
Speaker 1: you did it, or in Abbot's case, yeah, did.
Speaker 3: So matter?
Speaker 10: It's many things. First of all, governments federally always get
Speaker 10: a second term. Okay, that's not a law, but that's so.
Speaker 10: The likelihood is he gets a second term because history
Speaker 10: told you that, but in minority. Secondly, labor there'll be
Speaker 10: in a minority. Secondly, they did a magnificent job tarnishing
Speaker 10: Scott Morrison's credibility as explained in the Liberal Party federally,
Speaker 10: by the way, we're hopeless and defending Morrison. Right, you
Speaker 10: never see a Labor leader attacked in the way that
Speaker 10: Scott was without the Labor Party coming out to defend them.
Speaker 10: All Canons are bellowing in support of the leader. They
Speaker 10: hardly lifted a finger to help to help Morrison's credibility,
Speaker 10: which is one of the reasons they lost. But mate,
Speaker 10: when you get into the government like this, right, no
Speaker 10: one ever thought Alberanzi was hawk or a Keating or
Speaker 10: even as good as Kevin Rudd. Right, But they were
Speaker 10: off Morrison. They've been in government ten years, three prime ministers.
Speaker 10: They were giving Alba a go because Richer and everyone said,
Speaker 10: you conruined everything. He's a good blake, Albow give him
Speaker 10: a goa. So we all give Alba a go. Now
Speaker 10: the left it's thinking, is this blake any good? He
Speaker 10: seems to have lost control of everything, the borders, the
Speaker 10: immigration system, the detainees, inflation, government spending, crime is anti Semitism, Palestine,
Speaker 10: This bloke, this did take your pick. This bloke doesn't
Speaker 10: seem to be succeeding at anything. Now he's on this
Speaker 10: green energy bin he's now a twenty two billion dollar
Speaker 10: venture capitalists. He's smarter than all these venture capitalists around
Speaker 10: the world. I think people are very worried about this
Speaker 10: twenty You know, this made in Australia, billions and billions
Speaker 10: flowing into venture capital that's basically where it is. Why
Speaker 10: does he do something smarter? It give the twenty two
Speaker 10: billion to industries in Australia where we have a competitive advantage.
Speaker 10: Let all the other countries who are bigger and have
Speaker 10: more money than us spend all their venture capital money
Speaker 10: on green hydrogen et cetera. Right, and when they've wasted
Speaker 10: it all because the fourth Incarnation gets it right, when
Speaker 10: they've spent all that money blowing it all up and
Speaker 10: they finally get it right, then we'll buy the technology.
Speaker 10: But in the meantime, Elbow, let's spend money in the
Speaker 10: farming industry, the mining industry, the services, in all industries
Speaker 10: where Australia has a competitive advantage, pharmaceuticals, et cetera.
Speaker 1: I also think that when we're talking about you know,
Speaker 1: priorities and governments making decisions about what to spend money on,
Speaker 1: there's one sector and this this is just about decency.
Speaker 1: It's not about votes, but I think if you want to,
Speaker 1: I can make a case for the votes. I haven't
Speaker 1: gone deep into the budget to see what happens here,
Speaker 1: but rather than this sort of piecemeal this and that,
Speaker 1: I would like to see if Australia isn't a cost
Speaker 1: of in crisis, which we are, three point seven million
Speaker 1: people haven't been able to be in feud in security
Speaker 1: people literally remember the cost of living inquiry out of
Speaker 1: Western Australia. When the FEDS went over there, they heard
Speaker 1: stories about people who were freezing. All they wanted was
Speaker 1: a block of frozen of ice so that it to
Speaker 1: keep the food cold that was in the car, and
Speaker 1: then it would melt and become the water they would drink.
Speaker 2: The next day. Right, give money to charities.
Speaker 1: Like give serious help to the people on the front lines,
Speaker 1: to make sure that those who are like that bloke
Speaker 1: that we showed you a couple of nights ago who
Speaker 1: was talking to SBS that he was in a house.
Speaker 1: He was in a house in Queensland, but his rent
Speaker 1: went up, so now he's living.
Speaker 2: By the side of the road.
Speaker 1: I think that Australians want from politics at the moment.
Speaker 1: They want a massive idea on housing affordability. I think
Speaker 1: they want a massive idea on helping those that are
Speaker 1: the most most unfortunate at the moment. And Joe, because
Speaker 1: of the complications of inflation, et cetera, etc.
Speaker 2: We don't get that.
Speaker 1: If the government came out and said we're going to
Speaker 1: pass a law to morrow that says no financial institution
Speaker 1: can demand more than ten percent of deposit for your
Speaker 1: house right now, again, the economs will be screaming, yelling
Speaker 1: at the telly right now. But I'm saying that's what's
Speaker 1: going to move the needle, this sort of garbage. And
Speaker 1: I'm just while we're talking, I'm trying to look at
Speaker 1: the news websites and one of the lefty.
Speaker 2: Ones is saying huge cost of living relief when we
Speaker 2: all know it ain't.
Speaker 11: No, it's not huge costs of living relief. And again
Speaker 11: it can't be. And I hate to sound like a
Speaker 11: broken record, but they can't do I would love to
Speaker 11: see them do some really big stuff on this like that,
Speaker 11: but they kind of can't because of the environment. They
Speaker 11: are doing really big things on indigenous housing and indigenous education.
Speaker 1: Rather than hydrogen, which makes Twiggy Forest happy. Daniel Andrews Happy,
Speaker 1: Malcolm Turnbull happy, as well as all of them getting.
Speaker 2: Help with their power.
Speaker 1: Look at why not move a billion dollars into the
Speaker 1: charity sector, well, because so that the people we all
Speaker 1: care about, you know, a.
Speaker 11: Lot of what everyone was doing, a lot of stuff
Speaker 11: that charities are doing anyway, So for example, rent assistance,
Speaker 11: I mean, this is the sort of thing.
Speaker 1: And again, but trying to invent green hydrogen as the
Speaker 1: future of the world.
Speaker 11: Come Honestly, if that plays off right, yes there is
Speaker 11: a bit of risk, and sure if you can invent
Speaker 11: if Australia in Australia becomes a green hydrogen leader, it
Speaker 11: could be an absolute game changer. It is extraordinary the
Speaker 11: potential we have because frankly, they're really heavy.
Speaker 1: That's going to a structural deficit of tens of billions
Speaker 1: of dollars. Is that the time to be trying to
Speaker 1: reinvent the wheel, trying to say we will fund the
Speaker 1: project that will you know, rediscover electricity.
Speaker 11: Because what you want to be doing is if God willing,
Speaker 11: there won't be But if there is a recession or
Speaker 11: a softening of the economy, which is what going there
Speaker 11: is definitely going to be a softening. Right, we're trying
Speaker 11: to avoid a recession. What you want to do is
Speaker 11: back end load all that big infrastructure spending to keep
Speaker 11: the economy going and to make sure that it's going
Speaker 11: in the areas that are Australia's strengths, and that is
Speaker 11: in critical memorials, that is in someone law.
Speaker 1: I venture capital funded because Twgg he's not doing Triggy
Speaker 1: is doing it and asking for money, and this government's
Speaker 1: going to turn around and give him and his political
Speaker 1: mates Andrews and Turnbull money off their freaking power bills.
Speaker 1: But if there's a great idea the.
Speaker 3: Tax carts and get thousands of dollars in.
Speaker 1: Tax coming, come on, come on, every household means the
Speaker 1: richest one as well.
Speaker 2: And you know, so that's that's.
Speaker 11: You know, the they're getting far less than they were
Speaker 11: going to under the previous government.
Speaker 1: All Right, we've got plenty more quick break back with
Speaker 1: more lots of talking about including well some announcement about supermarkets.
Speaker 1: Does it actually move them, change anything? We'll find out
Speaker 1: with the lads. Jane Hugh joins us in a second
Speaker 1: as well. She's the shadow Finance Minister, no doubt she
Speaker 1: wants to talk about thirty thousand extra public servants on
Speaker 1: top of the record number that we currently have. We
Speaker 1: know budgets are more about politics than economics, because the
Speaker 1: reality is it's all about winners and losers, as you
Speaker 1: see all over.
Speaker 2: Much of the media.
Speaker 1: It's also about the very simple messages that people are
Speaker 1: going to argue about in the next little while between
Speaker 1: Tim Red and Team Blue. The captain of Team Read
Speaker 1: is the Prime Minister, and here he is with a message.
Speaker 2: Just for you.
Speaker 12: Hi.
Speaker 13: I want to talk to you about one of the
Speaker 13: major announcements we have in tonight's budget, and that's from
Speaker 13: July one, every household will get three hundred dollars off
Speaker 13: their energy bills. That's all households, not just some. Just
Speaker 13: like every taxpayer will receive a tax cut from July
Speaker 13: one thirteen point six.
Speaker 2: Million, not just some.
Speaker 13: That's part of our cost of living relief in tonight's budget,
Speaker 13: which we know is the number one priority tax cut
Speaker 13: for every taxpayer. Energy bill relief for every household.
Speaker 2: Wouldn't spoken and authorized. You get the point.
Speaker 1: Jane Hume is the Shadow Finance Minister Instituents US now
Speaker 1: from Canberra, so you know what the line here is.
Speaker 1: It's every household, it's every taxpayer. What's your response to
Speaker 1: that premise and about the reality for the Australians that,
Speaker 1: as the Treasurer said today, the tax cut is well
Speaker 1: less than a carton of beer a week and the
Speaker 1: energy relief is twenty five dollars a month.
Speaker 12: Well, I think Albo was right on one thing that
Speaker 12: was that this budget is a typical labor budget through
Speaker 12: and through. It's big tax, big spend, and quite frankly,
Speaker 12: it's a con job because it's not going to tackle
Speaker 12: the number one issue being the cost of living, because
Speaker 12: it can bring inflation down sustainably. It's throwing subsidies at
Speaker 12: the problem rather than dealing with the problem at the source.
Speaker 12: There's three hundred and fifteen billion dollars in additional spending
Speaker 12: since labor came to government. That's an eye watering amount.
Speaker 12: In fact, it's the biggest amount of spending that we've
Speaker 12: seen in a budget by the pandemic years since for
Speaker 12: about forty years since back in the Hawk and Keating
Speaker 12: days at the beginning of the nineteen eighties. For every
Speaker 12: four dollars, sorry, for every one dollar of savings that
Speaker 12: they've made, they've actually spent four dollars. Now, the RBA
Speaker 12: are no fools. As much as Jim Chalmers might like
Speaker 12: to replace the board with people that he's picked, I'm
Speaker 12: pretty sure that they know that any changes that they've
Speaker 12: made in this budget aren't actually going to sustainably bring
Speaker 12: inflation down. And because of that inflation. Because of that,
Speaker 12: interest rates are going to stay higher for longer and
Speaker 12: Australian particularly mortgage holders are going to pay the price.
Speaker 1: Earlier in the show, when I was trying to go
Speaker 1: through the five things that I've noticed about the budget,
Speaker 1: I make this point that in this budget, if the
Speaker 1: claim is electricity, and I don't believe.
Speaker 2: It changes anything in that world.
Speaker 1: Just look at the inflation figures from last month, right,
Speaker 1: everything from tobacco, petrol, bread, rent, all of it way up. Now,
Speaker 1: you've been chairing the cost of living committee that goes
Speaker 1: around the country and the types of people who come
Speaker 1: to those committees, we hear about how massive their concerns are.
Speaker 1: We're talking about people with jobs who live in their car.
Speaker 1: This budget does not change their life. Yet the Prime
Speaker 1: Minister and the Treasurer are going to spend the next,
Speaker 1: however many months telling us that everyone benefits despite the
Speaker 1: fact that the people who truly, truly, truly, truly truly
Speaker 1: need it are the working poor, and I can't see
Speaker 1: anything here.
Speaker 2: Now.
Speaker 12: The cost of living crisis is clearly the number one issue.
Speaker 12: We are hearing the most horrendous stories of people coming
Speaker 12: to seek services from charities that have never been there before.
Speaker 12: People with two incomes, people with multiple jobs, people with
Speaker 12: mortgages are now lining up at food bank to help
Speaker 12: put food on the table. Leez twentymen, the Great Las Twentymen,
Speaker 12: May he rest in peace, did appear before the committee,
Speaker 12: before the Cost of Living Committee, just before he died, actually,
Speaker 12: and told us the most saddest story, which was about
Speaker 12: a woman that had pawned her wedding ring to pay
Speaker 12: for kids' school uniforms. I reckon the announcements in tonight's
Speaker 12: budgets are going to be cold comfort to families like that. Yes,
Speaker 12: everyone's going to appreciate some energy bill relief, but in
Speaker 12: the long term, that's not going to tackle the big issue.
Speaker 12: It's only a band aid on a bullet hole. Unless
Speaker 12: you can bring inflation down sustainably, well, it's simply not
Speaker 12: going to make a dent in people's lives and the
Speaker 12: only way you're going to be able to do that
Speaker 12: with energy prices is to increase supply into the system,
Speaker 12: not go on these ideological jawns into whatever you think
Speaker 12: the future made in Australia might look like.
Speaker 1: Now we know the noise the Labor Party made and
Speaker 1: the lead up to the last election, and we're not
Speaker 1: fighting the last election. The world is always looking forward.
Speaker 1: And when I say well, I mean collectively Australia and
Speaker 1: what we're going to be debating just in case the
Speaker 1: umpires are going to run off to somebody that Karen's
Speaker 1: going to run for the umpire, We've got the scenario
Speaker 1: where a tridion dollars debt, a trilion dollars debt, A
Speaker 1: trilion dollars debt is what they talked about before, by
Speaker 1: their own forecasts. If they have paid off eighty ninety billion,
Speaker 1: the budget goes into such deep deficits over the next
Speaker 1: few years that we go back to a position of
Speaker 1: being even worse than when they took over.
Speaker 2: What does it say to you.
Speaker 1: As a document about how the federal budget is put together,
Speaker 1: that at its heart, apart from the sugar hits of
Speaker 1: excise taxes and resources, that the joint is hundreds of
Speaker 1: billions of dollars in the wrong direction.
Speaker 12: And you think, what a waste the last couple of
Speaker 12: years have been, because there have been some pretty serious
Speaker 12: windfall gains that have that have been presented in this
Speaker 12: in this document to Jim Chalmers, to use his former
Speaker 12: bosses or his former idols words, he has been hit
Speaker 12: in the ass by a rainbow, those by those iron
Speaker 12: ore and coal company tax receipts. You know, the commodity
Speaker 12: prices have gone up so high that company tax receipts
Speaker 12: have gone through the roof, and of course personal income
Speaker 12: tax receipts have gone up too because of bracket creep.
Speaker 12: Inflation is bad for all Australians, you know, it's the
Speaker 12: thief in the night that eats away your savings and
Speaker 12: erodes your purchasing power and reduces your standard of living.
Speaker 12: But governments love it because it pushes everybody up into
Speaker 12: that next higher tax bracket. And of course they get
Speaker 12: more income receipts, more revenue, which is fantastic for your
Speaker 12: budget bottom line, and that's what's returned the surfaces. But
Speaker 12: rather than actually using that surplus to pay down the debt,
Speaker 12: instead they've continued to spend and they've spent on things
Speaker 12: that you know, quite frankly, we're not seeing the benefit
Speaker 12: from one of them.
Speaker 2: And the one that.
Speaker 12: Really gets up my wig is thirty six thousand new
Speaker 12: public servants. Thirty six thousand new public servants since laborcame
Speaker 12: to government.
Speaker 11: Now, just to.
Speaker 12: Put that into perspective, that's more than all of the
Speaker 12: people that work for Westpac. It's more than all of
Speaker 12: the people all of the people that work for Telstra,
Speaker 12: and they are now Canberra bureaucrats. It just hired in
Speaker 12: the last two years alone. That is eyewatering because I
Speaker 12: don't know about you, Paul, but I don't feel like
Speaker 12: I'm getting thirty six thousand new public servants better off
Speaker 12: in terms of service set up receiving from the government.
Speaker 2: Not at all. To me.
Speaker 1: It feels like it's again an extension of what we've
Speaker 1: seen with say Daniel Andrews Palichet to a degree here,
Speaker 1: which is Labour wants to build permanent majorities electoral majorities.
Speaker 1: By you are either dependent on the government for your job,
Speaker 1: or you are dependent on the government in terms of
Speaker 1: the handout, or if you're a business, your biggest client
Speaker 1: is the government right and hence we saw how that
Speaker 1: has worked and in my view, to the detriment of
Speaker 1: places like the great States of Victoria and Queensinne. Jane,
Speaker 1: nice to talk to you. We're talking again soon.
Speaker 12: Great to be with you.
Speaker 9: Paul.
Speaker 1: Jane hum the shadow Finance Minister, always on it and
Speaker 1: I appreciate her joining us this evening.
Speaker 2: Back to the debate with Michael and Joe.
Speaker 1: Straight after this quick break on Paul Murray Live, not
Speaker 1: even an edition of the show at the top of
Speaker 1: the hour, the late Debate is pulling the late shift tonight.
Speaker 1: I really appreciate you being here this evening, as well
Speaker 1: as the wonderful Michael Kroger and the equally wonderful Joe
Speaker 1: Hilda Brand Getting late for some but not for us.
Speaker 2: We're just getting started.
Speaker 11: As always, we don it all night Alive, average live
Speaker 11: rolling coverage of the world's most boring budget.
Speaker 3: Could I just say you, guys, happier freedom. I was
Speaker 3: in the locker for six hour, No I come here,
Speaker 3: I know.
Speaker 1: And they're all walking away going, well have you seen
Speaker 1: paid seventy six?
Speaker 3: And you go okay, right, we all those people of
Speaker 3: the Australian.
Speaker 1: Yeah, all right, God, love the os love all right.
Speaker 12: Love.
Speaker 1: One of the things that was in the was in
Speaker 1: the treasurist's speech again obviously one of the issues in
Speaker 1: and around cost of living, but particularly groceries.
Speaker 2: Right.
Speaker 1: I want to play part of his speech and then
Speaker 1: try to decode what the hell is saying because again,
Speaker 1: normal people don't sit around and watch this speech at
Speaker 1: seven thirty, but the government trying to front load it.
Speaker 1: There's something you should know about means I wanted to
Speaker 1: code it, roll tape speaker.
Speaker 4: We know that Australians are feeling the pinch at the checkout.
Speaker 4: That's why we empowered the Competition Watchdog to hold supermarkets accountable.
Speaker 3: That's why we're.
Speaker 4: Taking steps to make the Food and Grocery Code mandatory
Speaker 4: and making our economy more competitive across aboard by strengthening
Speaker 4: the mergers regime and abolishing nuisance tariffs and reducing compliance
Speaker 4: costs for business. Because more competition means more choices, means
Speaker 4: lower prices and better services and better jobs means.
Speaker 2: I'm going to pay less for me this year.
Speaker 3: Joe means it's not his fault.
Speaker 11: Buddy should bring this up because I had the great
Speaker 11: priv I think it's under my name. Otherwise the cover's blown.
Speaker 11: The Daily Telegraph always does what he said, what he meant. Yes,
Speaker 11: it's me and Tim Blair often take turns doing it,
Speaker 11: but Tim was feeling a bit lazy today. So that
Speaker 11: was one of the quotes that I plucked out, and
Speaker 11: the other one was, of course this you know, there's
Speaker 11: international turmoil, these are very feebrile times and.
Speaker 2: All this Trump's going to be president.
Speaker 11: Basically, basically what he's saying is, I don't know if
Speaker 11: you've seen the movie Good Will Hold Hunting a very
Speaker 11: famous scene where Robin Williams counselor character grabs Matt Damon.
Speaker 3: And says, it's not your file, it's not your failed.
Speaker 11: And I had Jim Jarvis basically say that is what
Speaker 11: I want.
Speaker 3: You to do to me.
Speaker 2: Yeah, it's not my fault, not his.
Speaker 3: Fault, it's the supermarket's fault. It's you know, the nebulous
Speaker 3: global forces fault.
Speaker 11: And to a very large extent, he is right, that's
Speaker 11: definitely the mess.
Speaker 1: But it has it was in twenty two, but again
Speaker 1: everything was personal there, cyclical. Michael, Again, how do you
Speaker 1: decode that language, because again, it is just a whole
Speaker 1: series of things that make it seem like you know,
Speaker 1: ice cream is going to be less, But I don't
Speaker 1: think it's going to be.
Speaker 3: So mate.
Speaker 10: You know, Joe's absolutely right. This government's never made a mistake.
Speaker 10: They've never got anything wrong. We heard one minister ever
Speaker 10: say we mess this up, even in take an extreme example,
Speaker 10: this fellow Giles, Andrew Giles. Nope is he going anywhere?
Speaker 6: And nope?
Speaker 10: Is he resigning?
Speaker 6: Nope?
Speaker 10: No eastting where he is?
Speaker 3: Clara and El Nope.
Speaker 10: I mean, no one's made of mistake and no one's
Speaker 10: got anything wrong, which is why it was I said
Speaker 10: earlier on. People are very the jury's out. They're looking
Speaker 10: at this bloke oulm and easy saying I'm not sure
Speaker 10: you're all that good. I didn't think you were all
Speaker 10: that good as opposition later because you couldn't even remember
Speaker 10: the unemployment rate. I'm not sure you're that smart. I
Speaker 10: don't know your team's that good. I know the Morrison's expired,
Speaker 10: the Morrison guns expiring. I've been sick of Scott and
Speaker 10: the Liberals, so we'll give you a go. And you've
Speaker 10: promised all these things. Maybe you are a genius. And
Speaker 10: now they're looking at him thinking, you never admit a mistake.
Speaker 10: You've cocked up so many things. You lied to us
Speaker 10: about cost of living, all the stuff about inflation. We're
Speaker 10: now being bought off by Jim Chalmers in eighty two
Speaker 10: cents a day for our energy bills relief. You said
Speaker 10: it was easy to fix cost of living. Why we
Speaker 10: still got all this massive interest rate?
Speaker 7: You know?
Speaker 10: Why is interest rates home loans at six and seven percent? However,
Speaker 10: you said all this was easy. So the jury are
Speaker 10: now thinking, hey, and you know they work the stuff out.
Speaker 10: They can't go to an election until interest rates have
Speaker 10: gone down, probably two months in a row. Otherwise the
Speaker 10: pun is out there thinking you are just pulled as artists. Yeah,
Speaker 10: we don't believe a word you're telling us.
Speaker 1: But even then, I was talking about this with a
Speaker 1: friend before the show, which was okay. So the cost
Speaker 1: of living squeeze or interest rates or whatever the problem
Speaker 1: is that particularly concerns you. Right, The python is squeezing you,
Speaker 1: so you're like raban a purple right. Oh, but you're
Speaker 1: only now going to be ever so slightly violent, so
Speaker 1: they think they're going to vote for you. That's what
Speaker 1: I don't understand, right, which is that it's not as
Speaker 1: bad as it was.
Speaker 2: Is never really a great tactic to win over a room.
Speaker 1: But I want to go through a couple of other
Speaker 1: things before we finish, including university places. Now, it seemed
Speaker 1: that the treasurer was talking about even more people being
Speaker 1: able to go to university. Now again, this is fine
Speaker 1: if the university degree equals a qualification for a job.
Speaker 1: That means you don't have to import another person from overseas.
Speaker 1: But I'm not entirely sure that's what he said. Again,
Speaker 1: let us decode tonight.
Speaker 4: We're setting a national target of eight out of ten
Speaker 4: workers achieving a tertiary qualification by twenty fifty, and we're
Speaker 4: backing it in with new funding reforms.
Speaker 2: To meet this goal.
Speaker 4: We're investing three hundred and fifty million dollars for fee
Speaker 4: free UNI ready courses. These courses give those who would
Speaker 4: have missed out on studying a degree of foot in
Speaker 4: the door.
Speaker 1: Now in Finnis, tertiary education does also mean trades, but
Speaker 1: that's not what his focus was.
Speaker 11: Joe to code, No, I think that is actually his
Speaker 11: that is very much part of his focus.
Speaker 1: And they had a be ready which didn't say had
Speaker 1: they had.
Speaker 3: A big package.
Speaker 11: Well, the Union, it is where a lot of the
Speaker 11: new sort of high end high tech jobs or coming in.
Speaker 3: So that's that's right, the STEM stuff. So it's going
Speaker 3: to be that, and.
Speaker 11: It's going to be the service. The service INDUS is
Speaker 11: age care, childcare. That's where all the big demand is
Speaker 11: going to be. But you know, people are going to
Speaker 11: have to to use the unfortunate phrase of Hillary Clinton.
Speaker 3: Learn to code. So thank god I'll be before that happens.
Speaker 11: But so it is very much a focus on UNI,
Speaker 11: it is very much focused on TAFE as well, and
Speaker 11: Jason Claire is absolutely evangelical mission. I was shocked to
Speaker 11: learn this, but the rate of people actually even just
Speaker 11: getting to the end of high school has dropped by
Speaker 11: about ten percent even more if you count, from about
Speaker 11: eighty three percent in public schools to now seventy three
Speaker 11: percent in public schools. So people aren't even getting their
Speaker 11: HSC let alone getting into UNI. So to have eighty
Speaker 11: percent of people actually get a tertiary qualification TAFE or UNI,
Speaker 11: whatever it may be, is actually on top of that again,
Speaker 11: because that's finishing year twelve and then going on further study,
Speaker 11: and that is what people will need to do to
Speaker 11: be job ready and to get those jobs. And that
Speaker 11: is a real I can promise you that is a.
Speaker 3: Really genuine man on a mission.
Speaker 2: And look, I hope achieves that.
Speaker 1: But Michael, isn't the reality too that we need builders
Speaker 1: and electricians and welders and a whole bunch of other
Speaker 1: people because the bigger the country gets, the more things
Speaker 1: need to be built.
Speaker 2: And you know, God forbid those.
Speaker 1: Of us who don't have new houses need them renovated
Speaker 1: and fixed up.
Speaker 2: So to me, you know, labor always goes back.
Speaker 1: To this university thing. And while Joe says that yes
Speaker 1: there's detail there about Taife, I think if you're trying
Speaker 1: to talk to normal Australia saying it's OK for your
Speaker 1: kid to pick up a tool and we'll be more
Speaker 1: than happy to back them in and will help them
Speaker 1: do it because there's a good chance they'll be.
Speaker 2: Eating more than the Prime minister at one point in
Speaker 2: their look.
Speaker 10: Maybe well, pre Whitlam, they didn't luck the university students
Speaker 10: because they've hated liberal and the trade has voted labor.
Speaker 10: After Whitlam, it's gone the other way. So all the
Speaker 10: working class trade is a self employed et cetera tending
Speaker 10: to vote for the Conservative Party, and all a majority
Speaker 10: of the students attending to vote the terch for students
Speaker 10: attending to vote for the Labor Party. So yeah, there
Speaker 10: are it's a strange juxtaposition to hear a labor government
Speaker 10: not championing, you know, the skills of those people that
Speaker 10: can work with the hands. I mean, I wish i'd
Speaker 10: be great with the hands of soul, you know, I
Speaker 10: watch I watched carpenters at work and I had a
Speaker 10: block around the other day. I was just in awe
Speaker 10: of his skill. I mean, these joiners, these people that
Speaker 10: can cut wood and fix it. These people are freaks.
Speaker 10: They're geniuses, you know, much better smarter than you know,
Speaker 10: lawyers that I used to be. These these guys are
Speaker 10: you know, and women should be on pedestals. So labor,
Speaker 10: labor seemed to you know, it's part of this what's
Speaker 10: happened from the seventies onwards is sort of you know,
Speaker 10: sort of you know, it's to be frowned upon. You know,
Speaker 10: we're the working class. No, no, we're part of that.
Speaker 10: Is labor morphed into this sort of whitlam, you know,
Speaker 10: upper middle class, sort of upper class, inner city, woke
Speaker 10: sort of world in a party set where you know
Speaker 10: it's all about It's all about you know. They're the
Speaker 10: people I mix with now Kate Blanchets, that mixed with
Speaker 10: Kate and Guarant said, baby, we.
Speaker 7: Call the.
Speaker 3: Rest assured. Michael. Your concerns, I would be.
Speaker 11: I've been working overtime to try to reverse that dread
Speaker 11: but labor to it's great.
Speaker 2: I'm going to just put a lot.
Speaker 11: Of money into type fee free type to get those
Speaker 11: skills up.
Speaker 3: So it has really been doing it.
Speaker 2: I got a jump.
Speaker 1: Thank you guys doing it.
Speaker 2: Wei shout it tonight.
Speaker 1: I've got plenty more to say so on the other
Speaker 1: side ahead of the late debate about five minutes away
Speaker 1: here on Sky News. It is the privilege of a
Speaker 1: lifetime to have this job. It is particular privilege each
Speaker 1: and every year to be able to tell you exactly
Speaker 1: what I think about the people in power and how
Speaker 1: they use your money. I appreciate being part of the
Speaker 1: budget coverage here on Sky News and it continues now
Speaker 1: with the late Debate