WEBVTT - Danica De Giorgio | 1 August 0:00:01.520 --> 0:00:07.240 Live on Skyn's Australia. This is to Nika de Georgio. 0:00:09.920 --> 0:00:12.640 Hello and welcome to the program coming up tonight. Labour 0:00:12.760 --> 0:00:14.960 celebrates as Australia escapes. 0:00:14.640 --> 0:00:17.640 An increase in Trump's tariffs. But it's not a win 0:00:17.960 --> 0:00:20.800 no matter how Labor spins it. I'll get reaction from 0:00:20.840 --> 0:00:22.400 Liberal MP Andrew Wallace. 0:00:22.440 --> 0:00:22.880 Shortly. 0:00:23.280 --> 0:00:25.680 We're standing by to hear whether the new South Wales 0:00:25.720 --> 0:00:29.680 Supreme Court will permit the anti Israel march across Sydney's 0:00:29.720 --> 0:00:34.479 Harbor Bridge this weekend. Plus fairness finally trumps insanity in 0:00:34.520 --> 0:00:37.960 the debate over women's sport. Yet the Senate doesn't want 0:00:37.960 --> 0:00:41.600 to talk about the definition of a woman. But first tonight, 0:00:41.880 --> 0:00:45.920 it's confirmed Australia will escape a tariff higher than ten 0:00:45.960 --> 0:00:49.960 percent on exports to the United States after Donald Trump 0:00:50.120 --> 0:00:54.400 handed down his long awaited decision today. Now Labor claims 0:00:54.440 --> 0:00:58.800 it's been vindicated that its watch and weight approach has worked, 0:00:59.200 --> 0:01:02.319 when really it's just taken the default tariff that we 0:01:02.320 --> 0:01:03.960 were always going. 0:01:03.680 --> 0:01:06.839 To get slapped with. Now let me break it down 0:01:06.920 --> 0:01:07.160 for you. 0:01:07.480 --> 0:01:11.440 Trump has kept Australia at his lowest baseline tariff rate, 0:01:11.560 --> 0:01:15.600 that's at ten percent. The most hard hit country is Canada, 0:01:15.640 --> 0:01:18.959 which has seen its tariffs rise from twenty five percent 0:01:19.319 --> 0:01:22.840 to thirty five percent. The UK will also remade at 0:01:22.880 --> 0:01:26.640 ten percent, while New Zealand is our subject to fifteen 0:01:26.880 --> 0:01:31.080 percent tariffs. Now, obviously this is good news for Australia 0:01:31.200 --> 0:01:34.760 when you do compare it to other countries, and clearly 0:01:34.880 --> 0:01:37.360 it is testament to the fact that we are long 0:01:37.440 --> 0:01:38.600 standing allies. 0:01:39.280 --> 0:01:41.840 But we really didn't dodge a bullet today. 0:01:42.360 --> 0:01:44.760 We've had a free trade agreement in place with the 0:01:44.840 --> 0:01:48.080 US for twenty years, yet we are still being slugged 0:01:48.080 --> 0:01:52.640 with ten percent baseline tariffs and still and aluminium imports 0:01:52.680 --> 0:01:56.240 to the US are already subject to a fifty percent tariff. 0:01:56.800 --> 0:01:59.840 Yet of course hubris has set in and labor is 0:01:59.840 --> 0:02:02.120 out today patting itself on the back. 0:02:03.480 --> 0:02:07.240 We believe this is a vindication of our call and 0:02:07.320 --> 0:02:14.280 calm negotiations with our trading partners. At no stage did 0:02:14.320 --> 0:02:20.880 we introduce tariffs on American goods. America still has a 0:02:20.919 --> 0:02:27.000 significant advantage in terms of our trading relationship. We export 0:02:27.440 --> 0:02:30.880 or the Americans export about double to US what we 0:02:31.320 --> 0:02:36.320 export to them. But we will continue the discussions until 0:02:36.360 --> 0:02:38.960 we get all of those tariffs removed. 0:02:39.720 --> 0:02:43.760 Cool and calm negotiations more like throw up your hands 0:02:43.800 --> 0:02:46.239 and hope for the best. We may be in a 0:02:46.320 --> 0:02:50.120 much better position than other countries, that's clear. But Trump 0:02:50.240 --> 0:02:53.200 was never going to budge on getting tariffs below that 0:02:53.280 --> 0:02:56.680 ten percent baseline. It was going to be the minimum 0:02:56.720 --> 0:03:00.519 default for every country, as announced by the Way House 0:03:00.600 --> 0:03:04.840 after Donald Trump was inaugurated, including those the US runs 0:03:04.880 --> 0:03:08.720 a trade surplus with, like Australia. So this isn't a 0:03:08.800 --> 0:03:12.239 win no matter how Labour spins it. Trade Minister Don 0:03:12.280 --> 0:03:16.639 Farrell also spoke there of getting that ten percent baseline removed. Well, 0:03:16.639 --> 0:03:20.720 what does Australia have Seriously, as a bargaining chip. We 0:03:20.760 --> 0:03:24.000 aren't budging on our defense spending. The US could target 0:03:24.000 --> 0:03:28.280 pharmaceuticals next, and we aren't budging on the pharmaceutical Benefit scheme. 0:03:28.800 --> 0:03:32.239 Labor lifted the ban on US beef without any assurances 0:03:32.280 --> 0:03:34.559 that our biosecurity. 0:03:33.639 --> 0:03:35.240 Standards would not be put at risk. 0:03:35.600 --> 0:03:38.720 In fact, the Senate voted down an inquiry into it 0:03:38.840 --> 0:03:42.080 put forward by the Nationals yesterday. We folded to the 0:03:42.200 --> 0:03:45.840 US using this cool and calm diplomacy before the PM 0:03:45.960 --> 0:03:48.640 can even be bothered to get on a plane and 0:03:48.720 --> 0:03:49.920 have a meeting with Trump. 0:03:50.320 --> 0:03:53.160 We took the default tariff that was handed to us. 0:03:53.880 --> 0:03:57.120 Being scared to engage with our number one ally does 0:03:57.160 --> 0:04:00.800 not make this a victory. Yet, it seems today's decision 0:04:00.880 --> 0:04:04.360 has given a labor a mandate to continue doing just that. 0:04:05.880 --> 0:04:10.160 What we did do was negotiate and use cool and 0:04:10.240 --> 0:04:17.800 calm diplomacy to prosecute our case that these tariffs were counterproductive. 0:04:19.040 --> 0:04:21.920 That's the approach we'll now take with the United States. 0:04:22.600 --> 0:04:24.520 Well, look, that's just not going to get us anywhere, 0:04:24.600 --> 0:04:24.840 is it? 0:04:25.600 --> 0:04:28.320 And what does that mean for a meeting between the 0:04:28.360 --> 0:04:30.000 Prime Minister and the president. 0:04:30.920 --> 0:04:35.080 The Prime Minister has had two very good discussions with 0:04:35.400 --> 0:04:39.479 President Trump and I'm sure that at the appropriate time 0:04:40.120 --> 0:04:42.720 there'll be be further discussions. 0:04:43.640 --> 0:04:46.440 Good, okay, So at the appropriate time there will be 0:04:46.520 --> 0:04:49.279 a discussion. Now, where have I heard something similar? 0:04:50.200 --> 0:04:51.080 When we have a meeting. 0:04:51.120 --> 0:04:56.240 We'll have a meeting and when it's scheduled that will occur. 0:04:57.440 --> 0:05:06.279 Yeah, Albo, keep going with that call and calm diplomacy. Well, finally, 0:05:06.320 --> 0:05:09.040 to some common sense, a woman's right to a fair 0:05:09.080 --> 0:05:12.920 and even sporting match has been restored after World Athletics 0:05:12.960 --> 0:05:16.600 mandated gender tests for female category eligibility. 0:05:17.080 --> 0:05:18.080 Now, let's just be real. 0:05:18.240 --> 0:05:21.400 This has only happened because men kept competing in the 0:05:21.400 --> 0:05:25.120 women's leagues. Remember the farce that was the Olympic Games 0:05:25.200 --> 0:05:28.680 last year when algery and boxer Ammann Khalif, who has 0:05:28.760 --> 0:05:33.000 male chromosomes and previously failed a gender test, was allowed 0:05:33.000 --> 0:05:36.159 to compete in the women's competition and went on to 0:05:36.240 --> 0:05:41.080 win gold. But it seems fairness has finally trumped insanity. 0:05:41.440 --> 0:05:44.279 Athletes will now be eligible to compete in the female 0:05:44.360 --> 0:05:48.640 category only if they clear a one off, non invasive 0:05:48.800 --> 0:05:53.040 gene test. World Athletics President Sebastian Coe said, I'm absolutely 0:05:53.040 --> 0:05:56.479 committed to doing everything I possibly can to protect and 0:05:56.600 --> 0:05:58.240 preserve the female category. 0:05:58.600 --> 0:06:01.599 If you don't do that, we know where that leads. 0:06:02.000 --> 0:06:04.279 I don't want my sport to witness what many of 0:06:04.360 --> 0:06:07.280 us witnessed in boxing or. 0:06:07.200 --> 0:06:08.479 Hallelujah for that. 0:06:09.160 --> 0:06:12.880 But here's Coe's quote that's really got the lefties in 0:06:12.960 --> 0:06:15.760 a spin. He said, it was always very clear to 0:06:15.839 --> 0:06:21.880 me and the World Athletics Council that gender cannot trump biology. 0:06:22.560 --> 0:06:24.799 Gee, who would have thought. It's simple. 0:06:25.200 --> 0:06:28.920 If you're a man, go compete in the male competition, 0:06:29.279 --> 0:06:32.520 where you belong, but Australia is now one of the 0:06:32.560 --> 0:06:37.440 only countries denying that very simple biological reality. The UK 0:06:37.560 --> 0:06:40.120 Supreme Court ruled in April that a woman is someone 0:06:40.200 --> 0:06:44.680 born biologically female. Donald Trump has signed an executive order 0:06:44.720 --> 0:06:49.000 recognizing only two sexes, male and female, and just this week, 0:06:49.120 --> 0:06:52.320 trans athletes have been banned from representing the US at 0:06:52.320 --> 0:06:54.000 the Olympics and Paralympics. 0:06:54.440 --> 0:06:55.760 The founder of Giggle. 0:06:55.560 --> 0:06:58.600 App Salgrov, put it best when I spoke to her 0:06:58.680 --> 0:06:59.799 on Sharry this week. 0:07:01.080 --> 0:07:05.640 Trans athletes are not banned from the Olympics, Males a 0:07:05.720 --> 0:07:07.960 band from competing in the woman's category. 0:07:08.160 --> 0:07:10.320 That's it. The men in dresses are. 0:07:10.240 --> 0:07:13.880 Completely welcome to go and compete with the men in shorts. 0:07:14.160 --> 0:07:17.720 It's that simple. And the other issue is our lawmakers 0:07:17.720 --> 0:07:19.880 still don't know what a woman is now. I happen 0:07:19.960 --> 0:07:22.280 to know a woman is an adult female. 0:07:22.520 --> 0:07:25.240 Apparently these days, just knowing the answer to that question 0:07:25.360 --> 0:07:28.240 makes you either a bigot, some sort of incredible genius, 0:07:28.680 --> 0:07:30.360 or just someone with common sense. 0:07:30.800 --> 0:07:32.160 It depends on who you ask. 0:07:32.760 --> 0:07:36.480 In the Senate yesterday, Labor Block debate on Senators Alex 0:07:36.560 --> 0:07:40.920 Antik and Matt Canavan's bill to restore biological definitions in 0:07:40.960 --> 0:07:45.119 the Sex Discrimination Act. Now Julia Gillard amended that Act 0:07:45.120 --> 0:07:49.240 in twenty thirteen and removed the definitions of sex man 0:07:49.320 --> 0:07:53.160 and woman, but Labor used its numbers to stop the 0:07:53.200 --> 0:07:57.120 bill even being read or whatever, there being twenty five 0:07:57.160 --> 0:07:59.440 eyes and thirty six no's, the matter is resolved in 0:07:59.480 --> 0:08:02.800 the negative. But it was this from the Minister for Women, 0:08:02.920 --> 0:08:06.040 Katie Gallagher that was quite extraordinary. 0:08:06.280 --> 0:08:08.880 We do not agree with the Senate being a place 0:08:09.360 --> 0:08:12.920 where individual harm can be done to young people across 0:08:12.960 --> 0:08:15.760 this country, and that is what would have happened had 0:08:15.760 --> 0:08:18.560 we allowed this fiel to proceed in a normal course, 0:08:18.640 --> 0:08:22.160 and we won't stand for it. Trans children deserve better 0:08:22.360 --> 0:08:23.280 from this chamber. 0:08:24.640 --> 0:08:27.240 I mean, why is the Minister for Women not concerned 0:08:27.280 --> 0:08:30.400 about the safety of women and girls whose spaces and 0:08:30.520 --> 0:08:33.920 sports have been invaded by men who claim to be women. 0:08:34.679 --> 0:08:37.400 And why is it now harmful to debate our own 0:08:37.720 --> 0:08:41.439 laws in parliament? I mean, seriously, what is the purpose 0:08:41.480 --> 0:08:44.800 of having a democratic country if we can't even discuss 0:08:45.080 --> 0:08:48.600 and debate ideas at all? For what to protect a 0:08:48.640 --> 0:08:52.400 small percentage of the population. I mean, Australia is gripping 0:08:52.480 --> 0:08:54.079 onto this woke ideology. 0:08:54.520 --> 0:08:57.840 A man in a dress is not a woman. You 0:08:57.920 --> 0:09:05.760 don't have to be a genius to know that. All right, 0:09:05.840 --> 0:09:08.120 let's get into it now. Joining me is Shadow Cabinet 0:09:08.120 --> 0:09:11.480 Secretary Andrew Wallace. Andrew, good to catch up. Thanks for 0:09:11.559 --> 0:09:12.000 joining me. 0:09:12.080 --> 0:09:15.120 I want to start with today's ten percent baseline tariff 0:09:15.120 --> 0:09:19.280 announcement by Donald Trump. Labour says it's been vindicated in 0:09:19.320 --> 0:09:20.480 its approach to this. 0:09:20.720 --> 0:09:21.839 Is that how you see it? 0:09:24.360 --> 0:09:24.920 Not at all. 0:09:25.640 --> 0:09:28.600 You know, look, we have seen the most tepid response 0:09:28.640 --> 0:09:33.319 from this government. I have sat back and really tried, 0:09:33.480 --> 0:09:36.040 didn't haven't even tried to get. 0:09:35.920 --> 0:09:38.680 A meeting with the US President Donald Trump. 0:09:39.400 --> 0:09:42.080 The Prime Minister is now two hundred and seventy days 0:09:42.120 --> 0:09:46.280 since President Trump has come to office, two hundred and 0:09:46.360 --> 0:09:49.400 seventy days that the Prime Minister has missed an opportunity 0:09:49.679 --> 0:09:54.600 to have a meeting with the President to really push 0:09:54.720 --> 0:09:59.160 forward the best interests of Australians and Australian workers. You know, 0:09:59.400 --> 0:10:03.040 once again, we've seen a situation where when we're in government, 0:10:03.800 --> 0:10:07.600 we had Joe Hockey and Arthur Sinnadinas. 0:10:06.960 --> 0:10:09.720 Were able to work together as our ambassador in the 0:10:09.840 --> 0:10:15.079 US to secure zero tariffs, and yet this government hasn't 0:10:15.120 --> 0:10:15.920 even tried. 0:10:16.240 --> 0:10:19.760 And here Don Farrell this evening talking about this sort 0:10:19.800 --> 0:10:23.280 of quiet diplomacy. Well, I mean it has been an 0:10:23.320 --> 0:10:25.480 extremely tepid response. 0:10:26.000 --> 0:10:27.079 Tepid and timid. 0:10:27.600 --> 0:10:28.640 Yeah, tepid and timid. 0:10:28.679 --> 0:10:30.880 And I said that that's a sort of approach they're 0:10:30.920 --> 0:10:32.079 going to keep going with. 0:10:32.200 --> 0:10:33.880 Well, good luck. Then you're never going to get a 0:10:33.880 --> 0:10:37.240 meeting with that sort of a ridiculous approach. Now we've 0:10:37.280 --> 0:10:38.400 just had some breaking news. 0:10:38.480 --> 0:10:40.439 I don't think they I don't think he wants a meeting. 0:10:41.200 --> 0:10:42.760 No, well I don't think so either as. 0:10:42.600 --> 0:10:43.880 The Prime Minister wants a meeting. 0:10:44.080 --> 0:10:45.640 No, well, clearly, I mean he doesn't want to get 0:10:45.720 --> 0:10:48.520 upstage like Kiir Istama this week and other leaders that 0:10:48.320 --> 0:10:50.920 have had a meeting with Donald Trump. But the reality 0:10:50.960 --> 0:10:52.719 is he's going to have to at some point and 0:10:52.920 --> 0:10:55.880 this is just not the way to do it. Now, Andrew, 0:10:55.920 --> 0:10:58.120 we've just had some breaking news in the New South 0:10:58.120 --> 0:11:01.920 Wales Supreme Court will rule tomorrow morning on whether this 0:11:02.040 --> 0:11:05.880 Sunday's harbor Bridge pro Palestine protest can go ahead. Look, 0:11:06.000 --> 0:11:07.959 I don't think it should go ahead regardless. I think 0:11:07.960 --> 0:11:11.240 you know, spare me this argument about the reconciliation protests 0:11:11.320 --> 0:11:13.280 or the Pride one that shut down the bridge in 0:11:13.320 --> 0:11:16.200 the past. The difference is that takes months of planning, 0:11:16.640 --> 0:11:18.800 yet this group wants to shut it down with only 0:11:18.840 --> 0:11:21.760 a few days notice. And Andrew, the issue is, who's 0:11:21.800 --> 0:11:23.400 not to say that they're not going to get out 0:11:23.440 --> 0:11:26.200 there shouting death to the IDF and the rest of 0:11:26.240 --> 0:11:29.360 those slogans on one of our national monuments. 0:11:29.400 --> 0:11:29.679 Again. 0:11:32.200 --> 0:11:36.160 Yeah, look, I am absolutely and utterly opposed. 0:11:36.040 --> 0:11:37.120 To this demonstration. 0:11:38.559 --> 0:11:42.160 You know, just put aside for the moment the destruction 0:11:42.320 --> 0:11:47.000 that it would cause to Sydney Cider's traffic. We've seen 0:11:47.520 --> 0:11:51.240 demonstrations like this on the streets which have caused a 0:11:51.320 --> 0:11:57.120 significant amount of upheaval for local communis. But the hate 0:11:57.400 --> 0:12:00.400 and bile that spews from a lot of these people, 0:12:01.400 --> 0:12:04.640 there's no place for that in Australia in modern day. 0:12:05.160 --> 0:12:10.160 And I'm absolutely behind the New South Wales government and 0:12:10.240 --> 0:12:12.679 the New South Wales Police on this. It should not 0:12:12.720 --> 0:12:17.199 go ahead. No, you have I hope the court rules accordingly. 0:12:17.559 --> 0:12:18.880 No, I agree, and you're right. 0:12:18.880 --> 0:12:20.680 I mean it's going to shut down the main artery 0:12:20.720 --> 0:12:22.640 getting people to and from the CBD. 0:12:22.960 --> 0:12:24.760 You know, what about emergency services? 0:12:24.760 --> 0:12:28.000 There's so much to think about, huge impact and aside 0:12:28.040 --> 0:12:30.520 from the fact that the sort of slogans we can imagine. 0:12:30.760 --> 0:12:31.960 Now look I found. 0:12:31.760 --> 0:12:34.280 This well, I'm surprising and in a shock. 0:12:34.040 --> 0:12:36.640 To no one. The green dream has hit another. 0:12:36.360 --> 0:12:40.160 Hurdle after it was revealed a critical Victorian energy project 0:12:40.200 --> 0:12:43.400 has had cost blowouts of about three point seven billion dollars. 0:12:43.720 --> 0:12:47.160 The Australian Energy Market Operator report has revealed the Victoria 0:12:47.200 --> 0:12:50.120 to New South Wales interconnect A West so this is 0:12:50.120 --> 0:12:52.800 a series of high voltage power lines has blown out 0:12:52.840 --> 0:12:56.680 to seven point six billion, but uncertainty over the estimates 0:12:56.760 --> 0:13:00.720 mean it could saw to eleven point four billion. Andrew seriously, 0:13:01.000 --> 0:13:02.720 how much longer can this go on? 0:13:05.640 --> 0:13:05.880 Yeah? 0:13:05.920 --> 0:13:12.200 Look, it just defies belief that the Victorian in fact 0:13:12.200 --> 0:13:15.440 most of the state governments and importantly the federal government 0:13:15.480 --> 0:13:19.240 are continuing along with this. It is totally disrespectful of 0:13:20.360 --> 0:13:25.720 farmers and their property to be effectively, we're seeing large, 0:13:26.120 --> 0:13:30.440 broad scale destruction of natural habitat. You know what amazes me, 0:13:31.360 --> 0:13:34.640 Janika is that the greens are nowhere to be seen 0:13:34.679 --> 0:13:39.000 on this destruction of natural habitat. So farmers can't destroy 0:13:39.559 --> 0:13:43.800 trees on their property for grazing, but it's okay for 0:13:43.880 --> 0:13:44.960 transmission lines. 0:13:45.440 --> 0:13:48.160 The greens, they just know where to be seen. They 0:13:48.160 --> 0:13:49.000 don't talk about it. 0:13:49.440 --> 0:13:55.120 And in the meanwhile, Australian energy retailers are putting their 0:13:55.160 --> 0:13:58.040 prices up and you and I are the punters. We're 0:13:58.080 --> 0:14:02.240 paying thirty percent higher in our energy bills now than 0:14:02.280 --> 0:14:05.000 what we were three years ago. And the likes of 0:14:05.080 --> 0:14:08.719 Chris Bowen still stand up in Parliament and say renewables 0:14:08.720 --> 0:14:10.040 are the cheapest form of energy. 0:14:10.160 --> 0:14:12.840 Well, how can they be the cheapest form of energy 0:14:12.840 --> 0:14:15.240 when our prices have gone up by thirty percent? 0:14:15.600 --> 0:14:18.160 And don't get me started on the Prime Minister's two 0:14:18.200 --> 0:14:20.080 hundred and seventy five dollars price reductions. 0:14:20.480 --> 0:14:22.280 No, well, I mean Chris Bowen didn't want to answer 0:14:22.320 --> 0:14:24.800 any questions about that when pressed by the Opposition in 0:14:24.880 --> 0:14:28.320 question time this week before we let you go Andrew 0:14:28.360 --> 0:14:29.640 you you're running a marathon? 0:14:29.680 --> 0:14:31.600 Well where are you? What are you doing tonight? 0:14:34.240 --> 0:14:38.200 My marathon days are well and truly over, Danika. The 0:14:38.240 --> 0:14:40.720 best I've done is a half marathon here a couple 0:14:40.760 --> 0:14:43.160 of years ago. But no, we've got the Sunshine Case 0:14:43.240 --> 0:14:45.000 Marathon Festival on this weekend. 0:14:45.680 --> 0:14:46.479 It's fantastic. 0:14:46.560 --> 0:14:50.320 We'll see tens of thousands of runners to doing the 0:14:50.400 --> 0:14:54.000 forty two k and the half marathon, and there's also 0:14:54.120 --> 0:14:56.880 some other races of smaller races as well. 0:14:56.880 --> 0:14:59.560 But it's great. I'm a big I love running. I'm 0:14:59.560 --> 0:15:01.480 a big bo There's nothing like that. 0:15:01.920 --> 0:15:03.360 Run is high you get at the end of a 0:15:03.360 --> 0:15:07.359 good run, and it's just it's just a beautiful time. 0:15:07.120 --> 0:15:08.640 Of the year to be doing this year on the 0:15:08.680 --> 0:15:09.320 Sunny Coast. 0:15:09.680 --> 0:15:11.160 No good on you, As I said to you, you 0:15:11.160 --> 0:15:13.280 are such an advocate for your local community and I 0:15:13.280 --> 0:15:16.680 can hear there's some very excited kids around you tonight 0:15:16.720 --> 0:15:19.760 as well. Andrew, good to catch up as always, Thanks 0:15:19.800 --> 0:15:20.920 so much for joining. 0:15:20.600 --> 0:15:21.360 Me on the show. 0:15:24.200 --> 0:15:27.760 Well, joining me now is Macro Business chief economist Leith 0:15:27.960 --> 0:15:28.680 van Onslan. 0:15:29.160 --> 0:15:30.400 Leith, thank you for joining me. 0:15:30.680 --> 0:15:32.560 First, I just want to get your reaction as well 0:15:32.600 --> 0:15:35.960 to today's tariff's decision by Donald Trump. Is it really 0:15:36.000 --> 0:15:38.320 the vindication that labor claims it is. 0:15:39.280 --> 0:15:41.840 Look, it's certainly good news, and I guess the government 0:15:41.840 --> 0:15:46.080 can claim credit for not antagonizing the Trump administration administration. 0:15:46.600 --> 0:15:49.480 You can probably also gain a bit of credit for 0:15:49.480 --> 0:15:52.800 relaxing by security rules around beef imports, which obviously would 0:15:52.800 --> 0:15:56.440 have pleased President Trump. But the reality is, Danika, that 0:15:56.520 --> 0:15:57.920 the lower baseline tariff of. 0:15:57.920 --> 0:15:59.280 Ten percent that's been applied to. 0:15:59.240 --> 0:16:02.400 Australia makes sense because we are one of the few 0:16:02.440 --> 0:16:05.080 countries that has a very large trade deficit with the 0:16:05.240 --> 0:16:09.040 United States. We import more than double the amount that 0:16:09.080 --> 0:16:10.920 we export the United States. You also have a free 0:16:10.960 --> 0:16:12.840 trade agreement with the US which has been in place 0:16:12.880 --> 0:16:15.480 for twenty years, so the trade relationship with the US 0:16:15.600 --> 0:16:16.880 is very heavily. 0:16:16.480 --> 0:16:18.200 Weighted in the americans favor. 0:16:18.280 --> 0:16:21.280 And I think that's why we got the lower ten 0:16:21.320 --> 0:16:22.600 percent baseline tariff. 0:16:22.960 --> 0:16:24.560 Yeah, absolutely, I mean it was always going to be 0:16:24.560 --> 0:16:28.520 the default, as announced by the Trump administration after the 0:16:28.520 --> 0:16:30.000 president's inauguration. 0:16:30.480 --> 0:16:32.320 Now, look, I want to ask you about this story. 0:16:32.360 --> 0:16:35.240 The Treasurer could introduce a new cash flow tax on 0:16:35.240 --> 0:16:39.360 Australia's largest companies. The recommendation was made by the Productivity Commission, 0:16:39.440 --> 0:16:42.320 of course, ahead of Labour's upcoming round table. 0:16:42.680 --> 0:16:42.800 Now. 0:16:42.840 --> 0:16:45.840 It recommends the corporate tax rate for businesses with revenue 0:16:45.920 --> 0:16:49.200 under one billion be slashed in twenty percent, while around 0:16:49.240 --> 0:16:52.760 five hundred companies so major banks, miners and supermarkets would 0:16:52.800 --> 0:16:54.680 miss out on a cut leath. 0:16:54.800 --> 0:16:56.640 Is this a good move? Do you think? 0:16:57.240 --> 0:16:59.960 Look, I'm a little bit lukewarm the idea. The Protein 0:17:00.080 --> 0:17:02.880 Commission claims that the move is going to boost private investment, 0:17:03.000 --> 0:17:05.159 which is at recessory levels and it's part of the 0:17:05.200 --> 0:17:09.360 reason why Australia's productivity absolutely stinks. But personally, I think 0:17:09.359 --> 0:17:11.920 there's better ways to boost investment and cheaper as well. 0:17:11.960 --> 0:17:14.320 So I think first the federal government should offer time 0:17:14.400 --> 0:17:18.360 limited tax breaks for startup businesses. And the reason why 0:17:18.680 --> 0:17:21.639 startups is that they're more likely to employ staff than 0:17:21.680 --> 0:17:24.760 existing businesses, which already have the staff they need. They're 0:17:24.760 --> 0:17:27.760 more likely to innovate because they're typically looking to introduce 0:17:27.840 --> 0:17:31.760 new products and services or provide older ones in new ways, 0:17:32.200 --> 0:17:35.359 so they are very innovative. And also there's way fewer 0:17:35.400 --> 0:17:38.560 startup businesses than there are existing businesses, so it'd be 0:17:38.680 --> 0:17:42.680 very cheap. And of course, because it'd be time limited 0:17:42.680 --> 0:17:47.200 to startups and startups don't stay startups forever, it's also 0:17:47.280 --> 0:17:49.840 a way of containing the cost. And I think the 0:17:49.880 --> 0:17:53.080 government also needs to provide direct tax breaks for new 0:17:53.119 --> 0:17:58.240 investments only, so this would boost business investment directly by 0:17:58.560 --> 0:18:02.520 encouraging said business investment, and that's better than blanket corporate 0:18:02.560 --> 0:18:05.760 tax cuts because corporate the blanket tax cuts for everyone, 0:18:06.160 --> 0:18:08.640 or at least for businesses blow one billion basically rewards 0:18:08.680 --> 0:18:12.159 existing businesses for past investment, not new investment. And the 0:18:12.200 --> 0:18:14.840 government needs to stimulate new investment and it needs to 0:18:14.840 --> 0:18:16.080 do it the lowest cost way. 0:18:16.840 --> 0:18:17.040 Yeah. 0:18:17.080 --> 0:18:19.240 Well, I just said we've got this productivity round table 0:18:19.240 --> 0:18:21.480 coming up. Let's see what sort of taxes are on 0:18:21.560 --> 0:18:24.680 the table. And I'm sure that the Treasurer already knows 0:18:24.720 --> 0:18:26.640 what could be coming up, so stay tuned. 0:18:26.800 --> 0:18:28.680 Now let's talk immigration Leith. 0:18:28.760 --> 0:18:31.560 We've just witnessed the highest net arrival number on record 0:18:31.680 --> 0:18:34.560 in May, and now there's more proof that high immigration 0:18:34.760 --> 0:18:38.560 is harming productivity. Now, obviously productivity is a disaster in 0:18:38.560 --> 0:18:41.720 this country. But what's the link with Labour's Big Australia policy. 0:18:42.359 --> 0:18:45.960 Yeah, so I just mentioned that that business investments at 0:18:46.000 --> 0:18:48.879 processionary levels. But the flip side of that is the 0:18:48.920 --> 0:18:51.960 main reason that Australias productivities collapse is that we've grown 0:18:52.000 --> 0:18:56.760 the population aggressively eight point seven million this century through immigration, 0:18:57.080 --> 0:18:59.600 at the same time as we have not grown business investment, 0:19:00.000 --> 0:19:03.000 structure of housing anywhere near to keep up and as 0:19:03.000 --> 0:19:07.159 a result, the capital labor ratio has fallen significantly and 0:19:07.160 --> 0:19:09.919 what that's led to is so called capital shelling. So 0:19:09.920 --> 0:19:12.879 basically we've got less tools, less equipment per worker, and 0:19:12.960 --> 0:19:15.360 that means we've got less productivity growth. And we've also 0:19:15.440 --> 0:19:19.080 driven up housing and congestion costs through just traffic, congestion, 0:19:19.160 --> 0:19:22.280 those sorts of things, and they're harmful for productivity. So 0:19:22.320 --> 0:19:24.399 with Australia's population projected to grow by thirteen and a 0:19:24.440 --> 0:19:27.080 half million people in the next forty years officially Taneka 0:19:27.119 --> 0:19:29.919 that's another Sydney, Melbourne and Brisbane, it basically means that 0:19:29.960 --> 0:19:33.920 Australia's population productivity is going to stink unless we can 0:19:34.240 --> 0:19:37.480 keep up with business investment with infrastructure and housing, which 0:19:37.480 --> 0:19:40.359 seems very unlikely. We basically need to replicate another Sydney, 0:19:40.359 --> 0:19:42.560 Melbourne and Brisbane in forty years. So one of the 0:19:42.560 --> 0:19:45.960 ways to actually improve productivity is to slow the population 0:19:46.080 --> 0:19:49.160 growth so that business, housing, infrastructure investment can. 0:19:49.119 --> 0:19:52.720 Keep up well while we keep keeping the door open. 0:19:53.119 --> 0:19:55.200 I mean, we're just not heading in a good direction. 0:19:55.280 --> 0:19:57.440 But it seems to be Labour's big policy. 0:19:57.600 --> 0:19:58.520 Leak before we let you go. 0:19:58.600 --> 0:20:01.280 Inflation of course, as f Allan, based on the new 0:20:01.600 --> 0:20:03.960 results this week, can we expect a rate cut? Do 0:20:04.000 --> 0:20:06.560 you think when the board meets next Absolutely? 0:20:06.600 --> 0:20:07.040 Lock it in. 0:20:07.080 --> 0:20:09.320 So the RBO is waiting on two key pieces of 0:20:09.400 --> 0:20:12.520 data and that was basically the Q two CPI which 0:20:12.520 --> 0:20:14.640 you got this week and the tune labor force which 0:20:14.680 --> 0:20:17.040 we've got a few weeks back. Both of those were 0:20:17.160 --> 0:20:20.080 very benign for inflation. So I think a rate cut 0:20:20.200 --> 0:20:21.280 is virtually guaranteed. 0:20:22.160 --> 0:20:24.920 All right, Well, I'm sure mortgage holders were very pleased 0:20:25.040 --> 0:20:27.360 with that. Leif van Onsen, good to see you, Thanks 0:20:27.480 --> 0:20:29.439 very much for joining me on the show this evening. 0:20:29.920 --> 0:20:32.199 We're coming up after the break my panel, we'll discuss 0:20:32.240 --> 0:20:35.200 our relationship with the United States. More than twenty world 0:20:35.280 --> 0:20:37.600 leaders have met with Donald Trump. Wait till you hear 0:20:37.640 --> 0:20:40.560 which countries have while Albo, of course remains out in 0:20:40.560 --> 0:20:41.040 the cold. 0:20:41.080 --> 0:20:48.359 That's next. Welcome back, Johnny me now is Skinnies contributor 0:20:48.480 --> 0:20:51.880 Tina McQueen and New South Wales Independent MP Tanya mahalo Kai. 0:20:52.040 --> 0:20:53.639 Both of you. Good to see you. Thank you for 0:20:53.720 --> 0:20:54.159 joining me. 0:20:54.400 --> 0:20:56.720 Now we've been speaking about Donald Trump and would you 0:20:56.760 --> 0:20:59.600