WEBVTT - Sharri | 28 August

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<v Speaker 1>Live on Sky News. This is Shari. Good on you Andrew,

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<v Speaker 1>thank you for that good evening. Yes, t Price with

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<v Speaker 1>you filling in for Shari. Shari will be back with

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<v Speaker 1>you tomorrow night and I'll see you at six on

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<v Speaker 1>Friday night. Now coming up on Shari tonight. Are we

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<v Speaker 1>staring at the electoral nightmare of a minority labor government

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<v Speaker 1>depended on the Greens and the Teals to govern? And

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<v Speaker 1>if we are, wait for Green's leader Adam Vance's wish

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<v Speaker 1>list that he put out today. I have more on

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<v Speaker 1>that shortly. Also, how in the middle of an economic

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<v Speaker 1>downturn and a housing crisis and a lack of jobs

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<v Speaker 1>in the regions, could the federal government go and turn

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<v Speaker 1>its back on a billion dollar gold mine in New

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<v Speaker 1>South Wales Central West. We'll catch up with the Minerals

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<v Speaker 1>Council on what that means for our sovereign risk in

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<v Speaker 1>this country. Plus what did today's inflation numbers mean for

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<v Speaker 1>interest rates and the wider economy? Lethan Onsalen unpicked that

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<v Speaker 1>for us shortly, but first I can't help it. Green's

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<v Speaker 1>leader and federal member for the Inner Suburbs of Melbourne

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<v Speaker 1>today stood up and delivered a speech to the National

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<v Speaker 1>Press Club that was highly delusional and an insult to

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<v Speaker 1>every Australian. Adam Bant, in his self described egotistical guys

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<v Speaker 1>of somehow being Australia's version of Robin Hood, has laid

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<v Speaker 1>out an attack on profitable, multi national Australian companies that

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<v Speaker 1>he claims are ripping off ordinary Australians. He includes the

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<v Speaker 1>big four banks, the Commonwealth Bank, our biggest company, aine Zed,

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<v Speaker 1>the NAB and Westpac. He includes West Farmers, which of

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<v Speaker 1>course runs the very popular Bunnings. He threw in Telstra, Woolworth's, Cole's,

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<v Speaker 1>JB Hi Fi and even Ampol. Now Adam Bant wants

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<v Speaker 1>to hit these companies and others. He calls it a

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<v Speaker 1>plan to his words, hit the rich. He also promises

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<v Speaker 1>to bring in a coal and mining tack, demonizes gas

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<v Speaker 1>today and says this will raise five hundred and forty

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<v Speaker 1>one billion dollars, a figure plucked out of nowhere, and

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<v Speaker 1>that will be his price for supporting labor. In the

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<v Speaker 1>event of a hung parliament, enough is enough.

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<v Speaker 2>It's time to make the big corporations and billionaires pay

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<v Speaker 2>their fair share of tax. This election, the Greens will

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<v Speaker 2>propose a package of robin Hood reforms. The first component

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<v Speaker 2>is targeted at big corporations who are making excessive profits

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<v Speaker 2>beyond a normal return to shareholders. It will apply to

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<v Speaker 2>companies with an annual turnover of over one hundred million

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<v Speaker 2>dollars take taxing the excess profits that these companies make.

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<v Speaker 2>This new big corporations tax would apply to both Australian

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<v Speaker 2>corporations and multinational corporations operating in Australia. Over the next decade,

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<v Speaker 2>this component of the tax is expected to raise to

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<v Speaker 2>hundred ninety six billion dollars.

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<v Speaker 1>What a joke this bloke is. Now, Let's state the

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<v Speaker 1>bleeding obvious and then turn our attention to what the

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<v Speaker 1>Greens under Adam Bant actually stand for robin Hood. Adam

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<v Speaker 1>is about as likely to have anyone agree to any

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<v Speaker 1>of this as he has living out his warp dream

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<v Speaker 1>of being the Australian version of robin Hood. None of

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<v Speaker 1>any of this, by the way, is new. I wrote

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<v Speaker 1>a column back in July about this when he first

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<v Speaker 1>outlined this craziness aimed at peeling off labor voters that

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<v Speaker 1>lean heavily left in inner suburbs of the capital cities

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<v Speaker 1>of Australia. Now, Bant's grasp of economics is about as

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<v Speaker 1>sharp as someone wandering around Sherwood forest back in the

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<v Speaker 1>fourteenth century. When you look at the corporations whose profits

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<v Speaker 1>he describes as excessive, and who would attract this new

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<v Speaker 1>forty percent tax that he calls a big corporations tax.

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<v Speaker 1>Great imagination with the name by the Way, one thing

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<v Speaker 1>stands out. Every Australian with a superannuation fund, earns dividends

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<v Speaker 1>from all of those companies, especially the banks, So Adam

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<v Speaker 1>Bant would be taking from the rich and also taking

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<v Speaker 1>from the middle class, the working class and the working class. Paul,

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<v Speaker 1>I'm not sure Ban with his taxpayer funded super actually

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<v Speaker 1>understands superannuation and how it works.

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<v Speaker 2>While people went backwards, the biggest five hundred corporations made

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<v Speaker 2>ninety eight billion dollars in crisis profits off the back

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<v Speaker 2>of the pandemic. Willworths, Handcock Prospecting and nab Alone Release

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<v Speaker 2>reaped billions of dollars in crisis profits. Coles and Woolworths

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<v Speaker 2>have both increased their profits too.

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<v Speaker 1>Now incredibly, incredibly to me, the ABC representative at the

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<v Speaker 1>Press Club lunch today, interestingly sponsored by the Way with

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<v Speaker 1>a sign at the back of ban by Westpac, one

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<v Speaker 1>of the bank's bant wants to hit. The ABC reporter

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<v Speaker 1>made the point that if all these corporations, especially the

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<v Speaker 1>mining companies, are to be hit with massive new profits taxes,

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<v Speaker 1>they will simply up and move offshore.

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<v Speaker 3>The Parliamentary Budget Office, who you engage to do your

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<v Speaker 3>costings on the corporate tax issue, warns that the numbers

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<v Speaker 3>you think you'll raise was basically a happy guess at best,

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<v Speaker 3>because there's a lot of uncertainty around the assumptions. One

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<v Speaker 3>of the reasons would be that global capital is incredibly mobile.

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<v Speaker 3>Copper is available from Peru, lng is available from Russia

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<v Speaker 3>and Qatar, and iron ore from Africa and Brazil. What

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<v Speaker 3>makes you so certain you'll have a resource as industry

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<v Speaker 3>to support the welfare spending you envisage.

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<v Speaker 2>Well, our tax is designed to still encourage investment. We're

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<v Speaker 2>talking about excessive profits that can still come here and

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<v Speaker 2>make a return. We're talking about these obscene profits that

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<v Speaker 2>they're making. Like what we're saying with the gas industry,

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<v Speaker 2>for example, is that when there was a Russian increasion

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<v Speaker 2>of invasion of Ukraine and it sent the price sky high,

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<v Speaker 2>they made billions in windfall profits.

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<v Speaker 1>Even the ABC doesn't buy it now. As I said

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<v Speaker 1>at the start tonight, I'm a minority Labour government dealing

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<v Speaker 1>with this bloke and having anything to do with the

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<v Speaker 1>Greens having to implement this fantasy world where evil rich

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<v Speaker 1>corporations need to be flogged because they're profitable, and moneys

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<v Speaker 1>can flow to fix everyone's teeth and build houses. It's madness.

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<v Speaker 1>At the same time, Robin Hood refuses to accept immigration's

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<v Speaker 1>got anything to do with the housing crisis. The Middle

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<v Speaker 1>East war started by a terrorist attack on Israel can

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<v Speaker 1>be sold by everyone being nice to each other and

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<v Speaker 1>that the corrupt c FMEU is somehow going to fix itself.

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<v Speaker 1>Band presents to me like some UNI student living in

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<v Speaker 1>a sharehouse, riding a bike to lectures with a rainbow

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<v Speaker 1>view of the world where money comes off a tree

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<v Speaker 1>and if we all get together in some Kumbai world,

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<v Speaker 1>everybody wins, no poverty, no internation, conflicts, sun and win

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<v Speaker 1>power of the wide brown land. He is so naive now,

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<v Speaker 1>just finally on Band, he refused today to slam the

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<v Speaker 1>Greens housing spokesman Max Chandler Mather. He attended one of

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<v Speaker 1>those CFMA, you rallies yesterday acting like some sort of

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<v Speaker 1>warm up man. Why are the right signder attack where

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<v Speaker 1>we go?

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<v Speaker 4>Labor has used these untested allegations as an excuse to

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<v Speaker 4>attack an entire union. And let's be clear that union

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<v Speaker 4>is everyone here today, not any individual. It is all

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<v Speaker 4>of you here today, and they have attacked all of.

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<v Speaker 1>You, not the black T shirt. He's not a union member,

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<v Speaker 1>he's a Grittins MP. Now on that stage there were

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<v Speaker 1>signs calling our Prime Minister a Hitler like figure disgraceful

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<v Speaker 1>and band defended him being there. But apparently I should

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<v Speaker 1>point out Chandler Mayor asked for those signs to be

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<v Speaker 1>taken down prior to his speech, and of course the

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<v Speaker 1>CFMA you didn't do it. But have a look at

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<v Speaker 1>the agro coming from the construction arm of this union,

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<v Speaker 1>infiltrated by vikings and claims of standover tactics.

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<v Speaker 5>When I say you did you say that?

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<v Speaker 1>Put the air dochlod dot frightening stuff. Now, this mob

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<v Speaker 1>are not going away anytime soon. And watch carefully the

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<v Speaker 1>pressure they put on the Victorian government, in particular over

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<v Speaker 1>giant infrastructure projects that that union dominates. It's their workforce

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<v Speaker 1>on those projects and don't expect to send to Allen

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<v Speaker 1>to stand up to them. Get into tonight with Sharhi's

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<v Speaker 1>regular Wednesday night panel form of Victorian Liberal Party President

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<v Speaker 1>Michael Kroger is with us and former Labor Minister Graham Richardson.

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<v Speaker 1>Welcome to you both. Rich are going I start with

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<v Speaker 1>you so Bant and this super profits tax his speech

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<v Speaker 1>today claiming this would be his am but claim to

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<v Speaker 1>deal with a minority labor government. Surely they're not going

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<v Speaker 1>to deal with Band, are they?

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<v Speaker 5>Well?

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<v Speaker 1>I certainly hope not.

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<v Speaker 5>You know, the more you look at this like he

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<v Speaker 5>is completely crazy, and I just hope we don't go

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<v Speaker 5>down a Looney Tunes path. I hope we're more mature

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<v Speaker 5>than that.

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<v Speaker 1>If you were in that room and you had to

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<v Speaker 1>I mean, if the Teals couldn't get you across the

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<v Speaker 1>line and you had to deal with Band, would you

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<v Speaker 1>have any other option? Though? Well, I'd certainly be searching

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<v Speaker 1>for one.

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<v Speaker 5>You know, he'd be the last card in the pack,

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<v Speaker 5>because I think he's getting more radical as the time

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<v Speaker 5>goes by, not less, and I think that's making him

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<v Speaker 5>a harder sell. You know, the Greens just get that

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<v Speaker 5>hard line ten percent left vote in Australia. They have

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<v Speaker 5>never been able to lift it. It just sticks at

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<v Speaker 5>ten or eleven and stays there. And that's because the

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<v Speaker 5>policies that they've got will never appeal to the ordinary Australian.

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<v Speaker 1>Ever, Michael, how bad, how damaging for Australia with a

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<v Speaker 1>minority labor government doing a deal with the Greensburg, Well,

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<v Speaker 1>it would be disastrous.

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<v Speaker 6>I mean, this guy banned is a wrecker. He's a

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<v Speaker 6>wrecker around, an extremist and you know he's pie in

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<v Speaker 6>the sky policy today. I mean, you know, Ri rich

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<v Speaker 6>O's right. You know, even if Albanezi was forced to

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<v Speaker 6>do a deal with Band after the election, had to

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<v Speaker 6>be a one term labor government. So no one they told,

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<v Speaker 6>They told them the Tasmanian Labor leader at that state election,

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<v Speaker 6>you're not going to do a deal with the Greens

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<v Speaker 6>to win government down there in Tasmania. And if Albo

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<v Speaker 6>had to, he'd be there for if he won the election,

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<v Speaker 6>he'd be there for five minutes because they would wreck

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<v Speaker 6>the Labor Party and wreck Australia. And you know, thank goodness,

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<v Speaker 6>people are starting to see, you know, the more publicity

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<v Speaker 6>Band gets this anti Israel stuff, this weird tax policy,

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<v Speaker 6>this guy speaking of this CMF you rally yesterday. The

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<v Speaker 6>more exposure they get, the more extreme they get, the

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<v Speaker 6>less likely they are to win seats, and that's a

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<v Speaker 6>good thing for Australia.

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<v Speaker 1>Steve. Those disgraceful signs there are portraying Anthony Albanezi as

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<v Speaker 1>a hitler like figure Graham. That just shows that the

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<v Speaker 1>CFMU are not going to just sit back, take this

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<v Speaker 1>administrator and say, okay, we have to do things differently. Now.

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<v Speaker 1>How much of a problem is that for the PM.

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<v Speaker 5>Well, it's a problem, but provided you stick to your guns,

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<v Speaker 5>you know, it's a problem will eventually go away. The

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<v Speaker 5>one thing that Labour's got to be certain about is

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<v Speaker 5>that once you start the move, when the CFMAU, you've

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<v Speaker 5>got to finish it. You can't leave it half aasked.

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<v Speaker 5>You've got to finish it. And I hope that Albert

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<v Speaker 5>gets on with that job very quickly.

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<v Speaker 1>Michael. We learned today via a media release from an

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<v Speaker 1>outfit in Melbourne that the Muslim Votes Matters is about

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<v Speaker 1>to launch its national campaign. It's going to happen in

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<v Speaker 1>Melbourne this coming Sunday. They asked all sorts of media

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<v Speaker 1>people who want to go along, they need to register.

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<v Speaker 1>The release says Muslims in Australia had been grossly overlooked

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<v Speaker 1>and undermined for decades thanks to They blame the mainstream

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<v Speaker 1>media perpetrating Islamophobia. Michael, we saw this launched in New

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<v Speaker 1>South Wales. We're not sure where that's going to go.

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<v Speaker 1>Will it take hold in Victoria and how much should

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<v Speaker 1>the major parties be worried about this Muslim vote.

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<v Speaker 6>Well, it'll take hold to a certain degree because I

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<v Speaker 6>think that it will be quite disciplined, but I don't

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<v Speaker 6>think it'll it'll affect any seats in Australia as it

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<v Speaker 6>did in Britain Vaders who are pretty educated, and I

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<v Speaker 6>don't think it's going to I don't think it's going

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<v Speaker 6>to swing a seat. It could, but I don't think so.

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<v Speaker 6>I think I think Peter Khalil will probably still hold Wills,

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<v Speaker 6>and I think Labor will hold the seats in New

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<v Speaker 6>South Wales. But it's another distraction and to to this government,

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<v Speaker 6>and it's not it's not helping them. By the way,

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<v Speaker 6>see if you can just go back to the c

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<v Speaker 6>FMU for for one minute to add to something. Graham said,

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<v Speaker 6>What the press haven't you worked out is that Albanese

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<v Speaker 6>is Albanese is motivated by long running faction fight he's

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<v Speaker 6>been having the New South Wales division. He's Albow is

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<v Speaker 6>the leader of the hard left in the New South

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<v Speaker 6>Wales division. There's there's the soft left, which is the

0:13:49.760 --> 0:13:53.280
<v Speaker 6>old Ferguson family of which the CFMU were part of

0:13:53.280 --> 0:13:55.920
<v Speaker 6>that faction. So Albo's had this long war with the

0:13:55.920 --> 0:14:00.960
<v Speaker 6>Ferguson faction. So in bashing the c FU, he's finishing

0:14:01.000 --> 0:14:04.120
<v Speaker 6>off his long term factional opponent in the News of

0:14:04.160 --> 0:14:06.199
<v Speaker 6>Wales Labor Party. That's why he is so keen to

0:14:06.240 --> 0:14:08.360
<v Speaker 6>finish them off. There are enemies of him within the

0:14:08.400 --> 0:14:11.199
<v Speaker 6>Labor Party in New South Wales and have been for decades.

0:14:11.880 --> 0:14:12.719
<v Speaker 1>And so when he.

0:14:12.679 --> 0:14:15.319
<v Speaker 6>Says, oh, it's all because of you know, these corruption allegations,

0:14:15.320 --> 0:14:17.800
<v Speaker 6>et cetera, the subtext to all of this is great,

0:14:17.920 --> 0:14:20.160
<v Speaker 6>I can I can stick a knife into my factional

0:14:20.160 --> 0:14:22.160
<v Speaker 6>opponent in New South Wales and stick another knife into

0:14:22.200 --> 0:14:25.640
<v Speaker 6>the into the Ferguson faction who's opposed for generations. So

0:14:26.360 --> 0:14:29.720
<v Speaker 6>that's the subtext what's going on here. And the CFM

0:14:29.840 --> 0:14:32.040
<v Speaker 6>knew they're obviously a wake up to this. Mate.

0:14:33.720 --> 0:14:37.720
<v Speaker 1>Well, we got the godfather of factions with us tonight,

0:14:37.920 --> 0:14:40.280
<v Speaker 1>Richard As Michael picked that correctly.

0:14:42.560 --> 0:14:46.080
<v Speaker 5>I think, Michael, there's a grain of truth in what

0:14:46.120 --> 0:14:46.800
<v Speaker 5>Michael says.

0:14:46.840 --> 0:14:52.120
<v Speaker 1>I'll just say that a grade of truth, only a

0:14:52.200 --> 0:14:52.880
<v Speaker 1>grain of truth.

0:14:53.320 --> 0:14:56.480
<v Speaker 6>He's still very polite, gret He's still very polite.

0:14:57.280 --> 0:15:00.640
<v Speaker 1>A couple of grains. He's very polite. Whichjoe, you know

0:15:01.320 --> 0:15:04.480
<v Speaker 1>those seats of Southwest Sydney as well as anybody. Is

0:15:04.520 --> 0:15:07.760
<v Speaker 1>this Muslim vote going to catch on? And is it

0:15:07.800 --> 0:15:08.800
<v Speaker 1>a problem for labor?

0:15:10.200 --> 0:15:12.720
<v Speaker 5>Look, I don't think it'll catch on in any big way. No,

0:15:13.720 --> 0:15:18.600
<v Speaker 5>it'll be a small irritation and annoyance, but it'll be

0:15:18.640 --> 0:15:19.360
<v Speaker 5>no big deal.

0:15:22.360 --> 0:15:24.520
<v Speaker 1>Michael, I need to go back to this. Max Chandler

0:15:24.600 --> 0:15:27.000
<v Speaker 1>made the bloke. He's the guy that loves, or seems

0:15:27.000 --> 0:15:29.440
<v Speaker 1>to love a microphone. He's got a very healthy ego.

0:15:30.160 --> 0:15:34.760
<v Speaker 1>He's been blasted for addressing that rally that featured those pictures.

0:15:35.120 --> 0:15:38.320
<v Speaker 1>He wanted them taken down apparently, But what the hell

0:15:38.600 --> 0:15:43.680
<v Speaker 1>is a Greens MP from Queensland doing standing up there

0:15:44.480 --> 0:15:47.160
<v Speaker 1>addressing a CFMU rally. What's that about?

0:15:48.720 --> 0:15:51.080
<v Speaker 6>Well, he's starring up trouble against the Labor Party. That's

0:15:51.120 --> 0:15:53.560
<v Speaker 6>what he's trying to do here. Any opportunity for the

0:15:53.560 --> 0:15:55.840
<v Speaker 6>Greens to get an add to their innicity vote and

0:15:56.760 --> 0:15:58.720
<v Speaker 6>stick it into Labor, that's what he's doing. And by

0:15:58.760 --> 0:16:01.440
<v Speaker 6>the way, if this is true that you know these

0:16:01.480 --> 0:16:04.280
<v Speaker 6>signs were any request that these signs be taken down.

0:16:04.880 --> 0:16:06.720
<v Speaker 1>He should have refused to appear.

0:16:07.280 --> 0:16:09.280
<v Speaker 6>He should have said, I'm not going to stand here

0:16:09.280 --> 0:16:11.360
<v Speaker 6>at a rally where the prime Minister this country is

0:16:11.400 --> 0:16:14.000
<v Speaker 6>depicted as Adolf Hitler. Nor am I going to appear

0:16:14.040 --> 0:16:16.840
<v Speaker 6>at a rally where there's a coffin of the effectively

0:16:16.880 --> 0:16:20.680
<v Speaker 6>of Albanize eye. He's dead body politically in front of him.

0:16:20.720 --> 0:16:23.240
<v Speaker 6>He should have said, take those down and then I'll appear,

0:16:23.320 --> 0:16:25.560
<v Speaker 6>But I'm not going to appear with that behind me.

0:16:25.760 --> 0:16:30.440
<v Speaker 6>So he appeared anyway, So irresponsible of him, disgraceful of him.

0:16:30.800 --> 0:16:31.880
<v Speaker 1>But this is the Greens.

0:16:31.960 --> 0:16:35.080
<v Speaker 6>They are just wreckers and any if they can wreck

0:16:35.120 --> 0:16:37.840
<v Speaker 6>the Labor Party, boy, they're very happy to do that.

0:16:37.880 --> 0:16:39.720
<v Speaker 6>They're very happy to wreck the Labor Party and that's

0:16:39.760 --> 0:16:42.320
<v Speaker 6>why he steamed up with the CFMU. But what Adam

0:16:42.360 --> 0:16:44.560
<v Speaker 6>Band needs to do is given undertaking that he will

0:16:44.560 --> 0:16:47.800
<v Speaker 6>not accept any donations from the CFMU. It's going to

0:16:47.800 --> 0:16:50.320
<v Speaker 6>be harder now because they're an administration or any of

0:16:50.360 --> 0:16:53.840
<v Speaker 6>their allies who are backing the CFMU for the next election.

0:16:53.960 --> 0:16:56.480
<v Speaker 6>You just watch if there are donations from these radical

0:16:56.560 --> 0:16:59.360
<v Speaker 6>left unions to the Greens at the next election, because

0:16:59.400 --> 0:17:03.000
<v Speaker 6>any cf supporter he should say, We're not accepting donations

0:17:03.040 --> 0:17:03.320
<v Speaker 6>from you.

0:17:05.440 --> 0:17:07.960
<v Speaker 1>Labor Minister Murray, what weighed into this this morning. Here's

0:17:07.960 --> 0:17:08.720
<v Speaker 1>what he had to say.

0:17:09.920 --> 0:17:13.040
<v Speaker 7>I think it's also very very disturbing that we saw

0:17:13.119 --> 0:17:16.639
<v Speaker 7>a Greens MP, Max Chandler Nather decide to share a

0:17:16.720 --> 0:17:20.800
<v Speaker 7>stage with the Construction Union yesterday in Brisbane, despite those

0:17:20.800 --> 0:17:24.520
<v Speaker 7>placards invoking Nazi references, despite the coffins with the Prime

0:17:24.560 --> 0:17:27.600
<v Speaker 7>minister's face. I mean, what does it say to people

0:17:27.680 --> 0:17:30.639
<v Speaker 7>that a Greens MP puts grand standing in front of

0:17:30.640 --> 0:17:35.280
<v Speaker 7>a crowd above making a statement about what's respectful or not.

0:17:35.560 --> 0:17:37.479
<v Speaker 7>When you share a stage with a group, you make

0:17:37.520 --> 0:17:40.760
<v Speaker 7>a choice and you're endorsing the culture and behavior of

0:17:40.760 --> 0:17:41.640
<v Speaker 7>that organization.

0:17:43.880 --> 0:17:46.919
<v Speaker 1>Richo, how much is this about the Greens sending a

0:17:46.960 --> 0:17:49.400
<v Speaker 1>signal to the CFMAU that look, you know, if you've

0:17:49.560 --> 0:17:51.439
<v Speaker 1>got any spare money to toss around you in an

0:17:51.480 --> 0:17:54.040
<v Speaker 1>election campaign, we'd be more than happy to take it.

0:17:55.040 --> 0:17:58.600
<v Speaker 5>I think there's an element of that in this, that's

0:17:58.600 --> 0:18:03.560
<v Speaker 5>for sure. Sadly, you know, the CFMU occasionally looks to

0:18:04.119 --> 0:18:07.760
<v Speaker 5>the Greens, or some people in it do, and I

0:18:07.800 --> 0:18:10.840
<v Speaker 5>find that very sad. I mean, the CFMU has been

0:18:10.880 --> 0:18:14.520
<v Speaker 5>a bit of a let's say, a two edged sword

0:18:14.560 --> 0:18:16.800
<v Speaker 5>for years. You know, there are a lot of good

0:18:16.800 --> 0:18:19.320
<v Speaker 5>people in the CFMU, but my god, there are some

0:18:19.400 --> 0:18:21.000
<v Speaker 5>horrible bases in it as well.

0:18:23.520 --> 0:18:26.960
<v Speaker 1>Nicely put Graham. Now, Michael, let's get onto one of

0:18:27.000 --> 0:18:31.399
<v Speaker 1>our favorite topics, the dysfunctional Victorian labor government, taxing the

0:18:31.440 --> 0:18:33.679
<v Speaker 1>hell out of anyone they can find they now, have

0:18:33.760 --> 0:18:39.040
<v Speaker 1>you believed this? You know this is somehow able to

0:18:39.080 --> 0:18:40.720
<v Speaker 1>be fixed, but I'm not sure how they're going to

0:18:40.720 --> 0:18:43.320
<v Speaker 1>do it other than tax everyone to death, including now

0:18:43.320 --> 0:18:46.480
<v Speaker 1>a seven a half percent tax on Airbnb, so no

0:18:46.640 --> 0:18:49.800
<v Speaker 1>tourist will come here. You had a hospital emergency department

0:18:49.840 --> 0:18:52.800
<v Speaker 1>this morning. You two won't believe this. They had a

0:18:52.800 --> 0:18:56.760
<v Speaker 1>hospital emergency department had to call an ambulance to rush

0:18:56.800 --> 0:19:01.000
<v Speaker 1>to the hospital empty to treat a cardiac patient because

0:19:01.000 --> 0:19:05.320
<v Speaker 1>of a lack of resources inside the hospital, Michael, what

0:19:05.359 --> 0:19:06.320
<v Speaker 1>the hell was happening?

0:19:09.119 --> 0:19:13.119
<v Speaker 6>Well, when Joan Kernel left office through the good growth

0:19:13.119 --> 0:19:16.080
<v Speaker 6>of the Victorian public back in nineteen ninety two, she

0:19:16.160 --> 0:19:18.960
<v Speaker 6>left a debt behind her of thirty three billion. We're

0:19:19.000 --> 0:19:21.959
<v Speaker 6>now approaching one hundred and eighty billion under this mob right,

0:19:22.080 --> 0:19:25.600
<v Speaker 6>same dollar terms. There's no money here in Victoria, Steve.

0:19:25.840 --> 0:19:26.680
<v Speaker 1>The place is broke.

0:19:27.320 --> 0:19:32.600
<v Speaker 6>Andrews and Cindra Allison have bankrupted Victoria effectively, so there

0:19:33.119 --> 0:19:36.920
<v Speaker 6>isn't any more money for the hospital services. They've taxed

0:19:36.920 --> 0:19:38.840
<v Speaker 6>the hell out of the place. Land tax in Victoria

0:19:38.960 --> 0:19:41.560
<v Speaker 6>is at absurd level, so people have selling investment properties.

0:19:41.600 --> 0:19:45.040
<v Speaker 6>They've massively increased payroll tax in Victoria, every other tax

0:19:45.080 --> 0:19:48.280
<v Speaker 6>they could think of property taxes to make up this

0:19:48.400 --> 0:19:49.320
<v Speaker 6>shocking budget.

0:19:49.359 --> 0:19:49.800
<v Speaker 1>Shawful.

0:19:49.840 --> 0:19:53.200
<v Speaker 6>Tim Pallace has been the treasurer here for ten years. Tim,

0:19:53.240 --> 0:19:55.159
<v Speaker 6>you order hang your head in Showmte. You've left this

0:19:55.240 --> 0:19:58.240
<v Speaker 6>place a burning wreck. But there's no money, Steve. They've

0:19:58.320 --> 0:20:00.680
<v Speaker 6>run out of money. And he bought the two elections

0:20:00.680 --> 0:20:03.600
<v Speaker 6>in eighteen and twenty two. He spent fifty billion at

0:20:03.600 --> 0:20:05.920
<v Speaker 6>each election. Daniel Andrews, he promised everything. Well, of course

0:20:05.960 --> 0:20:08.720
<v Speaker 6>people are going to vote for fifty billion each time.

0:20:09.119 --> 0:20:11.480
<v Speaker 6>But of course at the next election there's nothing to spend,

0:20:11.480 --> 0:20:14.520
<v Speaker 6>and people are going to say, well, you know, you've

0:20:14.600 --> 0:20:18.000
<v Speaker 6>ruined Victoria as they have, and hopefully they' altern to

0:20:18.080 --> 0:20:20.159
<v Speaker 6>John Pursuito and the Liberal Party because this mob have

0:20:20.240 --> 0:20:22.000
<v Speaker 6>left a ruin here in Victoria.

0:20:22.080 --> 0:20:27.440
<v Speaker 1>Steve rich Omichael's very optimistic about that. I mean, if

0:20:27.440 --> 0:20:30.359
<v Speaker 1>you had an election today, incredibly, to Michael and me

0:20:30.440 --> 0:20:33.600
<v Speaker 1>and to everyone who mainly lives in Victoria, Labor would

0:20:33.600 --> 0:20:36.159
<v Speaker 1>get re elected. I mean, this is the problem that

0:20:36.200 --> 0:20:40.600
<v Speaker 1>the alternative opposition, particularly with John Pursudo as leader, who

0:20:40.680 --> 0:20:42.199
<v Speaker 1>I don't think can lead them to any sort of

0:20:42.240 --> 0:20:45.199
<v Speaker 1>win that still get back Ingram.

0:20:45.640 --> 0:20:48.520
<v Speaker 5>You know, I don't see that as a problem. I'm

0:20:48.520 --> 0:20:53.359
<v Speaker 5>delighted to hear it, but of course it's true. I

0:20:54.040 --> 0:20:57.480
<v Speaker 5>think sometimes you know that it doesn't matter how good

0:20:57.560 --> 0:21:00.280
<v Speaker 5>or vad you are, it's how you perceived. I don't

0:21:00.280 --> 0:21:03.200
<v Speaker 5>think Bashudo is ever going to be Premier of Victoria.

0:21:03.760 --> 0:21:07.920
<v Speaker 5>And the problem that lies beneath that is that how

0:21:07.960 --> 0:21:11.159
<v Speaker 5>do you replace him when you've got a caucus of

0:21:11.240 --> 0:21:15.040
<v Speaker 5>nobody's It's pretty hard to do. So I think the

0:21:15.119 --> 0:21:17.400
<v Speaker 5>Liberals in Victoria have got a lot of soul searching

0:21:17.400 --> 0:21:22.400
<v Speaker 5>to do. So Michael, get on the job. I think

0:21:22.400 --> 0:21:23.640
<v Speaker 5>he might already be on the job.

0:21:23.640 --> 0:21:25.119
<v Speaker 1>Graham. I don't think you need to tell him to

0:21:25.119 --> 0:21:30.560
<v Speaker 1>do that. I've long thank you. Oh, I don't know

0:21:30.560 --> 0:21:33.200
<v Speaker 1>about that. Michael and Graham, thank you as always. We'll

0:21:33.240 --> 0:21:36.160
<v Speaker 1>catch up with you shortly coming up after the break.

0:21:36.200 --> 0:21:38.879
<v Speaker 1>Premier Chris Men's in New South Wales. Look, he's not

0:21:38.960 --> 0:21:42.439
<v Speaker 1>holding back his disappointment at Tannya Plipa Sex decision to

0:21:42.440 --> 0:21:46.320
<v Speaker 1>block this billion dollar gold mine. Mining Council CEO Stephen

0:21:46.400 --> 0:21:49.280
<v Speaker 1>Galilee will join me to discuss what that might mean

0:21:49.320 --> 0:21:53.280
<v Speaker 1>for projects right around the country, plus the stunning snub

0:21:53.640 --> 0:22:00.679
<v Speaker 1>by former Queensland Premier Anastasia Palache. Hang around. Welcome back

0:22:00.760 --> 0:22:02.040
<v Speaker 1>Steve Price in for Shari.

0:22:02.119 --> 0:22:02.280
<v Speaker 8>Now.

0:22:02.440 --> 0:22:05.200
<v Speaker 1>This route between the New South Wales and the Federal

0:22:05.280 --> 0:22:08.639
<v Speaker 1>Labor government around this gold mine has escalated. Today. You

0:22:08.720 --> 0:22:11.520
<v Speaker 1>had the Premier of New South Wales, Chris Mins, ramping

0:22:11.640 --> 0:22:15.679
<v Speaker 1>up his retric against the Commonwealth's last minute order to

0:22:15.800 --> 0:22:19.560
<v Speaker 1>kill off this gold mine. Min's didn't hold back in

0:22:19.640 --> 0:22:22.480
<v Speaker 1>budget estimates earlier today I ever listened to him. I'm

0:22:22.520 --> 0:22:26.120
<v Speaker 1>disappointed by the decision from the Commonwealth Government. You disagree

0:22:26.119 --> 0:22:28.240
<v Speaker 1>with the reversion. I'm slut said that many times and

0:22:28.520 --> 0:22:32.320
<v Speaker 1>so in your view ten you're cleversick using that power.

0:22:32.359 --> 0:22:33.240
<v Speaker 9>Was she was in error?

0:22:33.600 --> 0:22:36.960
<v Speaker 1>Yes, that's Chris Mins Today. Now the Prime Ministers insisting

0:22:37.320 --> 0:22:41.360
<v Speaker 1>that the project can still go ahead though regiu's resources

0:22:41.400 --> 0:22:43.920
<v Speaker 1>does not sound as confident. Let's bring in New South

0:22:43.920 --> 0:22:49.280
<v Speaker 1>Wales Minerals Council Chief Executive Stephen Galilee. Stephen, good to

0:22:49.280 --> 0:22:54.040
<v Speaker 1>see you again defending this decision, Minister Pleversecond, even the

0:22:54.119 --> 0:22:57.560
<v Speaker 1>Prime Minister say, look, this can go ahead, just move

0:22:57.720 --> 0:23:01.720
<v Speaker 1>the tailings dam But surely the company, Stephen, looked at

0:23:01.760 --> 0:23:04.200
<v Speaker 1>all those alternative sites, didn't they.

0:23:04.440 --> 0:23:07.359
<v Speaker 8>This is political damage control from the Prime Minister and

0:23:07.400 --> 0:23:10.840
<v Speaker 8>the minister involved. This decision is a dagger at the

0:23:10.880 --> 0:23:13.919
<v Speaker 8>heart of the project. The Minister knew exactly what she

0:23:14.000 --> 0:23:17.280
<v Speaker 8>was doing when she made her decision. She knew that

0:23:17.359 --> 0:23:20.199
<v Speaker 8>the tailing stand was integral to the mind design the

0:23:20.280 --> 0:23:22.439
<v Speaker 8>viability of the project. She was told that by the

0:23:22.480 --> 0:23:26.199
<v Speaker 8>company formally and as was her department on many occasions.

0:23:26.200 --> 0:23:29.640
<v Speaker 8>She knew exactly what the implications were of her decision.

0:23:30.240 --> 0:23:33.080
<v Speaker 8>And this is the kind of political damage control and

0:23:33.160 --> 0:23:35.919
<v Speaker 8>rhetoric you get from people that have never had a

0:23:35.920 --> 0:23:39.280
<v Speaker 8>real job outside of Parliament. They've been in Parliament too long.

0:23:39.320 --> 0:23:41.040
<v Speaker 8>They think that if you put it in a press release,

0:23:41.080 --> 0:23:44.560
<v Speaker 8>it happens. Mind design is not some kind of cut

0:23:44.600 --> 0:23:48.760
<v Speaker 8>and paced exercise to move that tailing stan means an

0:23:48.880 --> 0:23:54.080
<v Speaker 8>entire redesign of the mind itself. It means geotechnical, geological engineering,

0:23:54.320 --> 0:23:59.680
<v Speaker 8>biodiversity ek, environmental, cultural, heritage and other studies need to

0:23:59.680 --> 0:24:03.520
<v Speaker 8>be done. It means a new application needs to be

0:24:03.600 --> 0:24:06.240
<v Speaker 8>prepared and assessed. And at the end of all that,

0:24:06.400 --> 0:24:08.800
<v Speaker 8>after several years, you know, four or five years or so,

0:24:09.840 --> 0:24:14.240
<v Speaker 8>potentially you've got another spurious veto decision from the Minister again.

0:24:14.359 --> 0:24:17.359
<v Speaker 8>So these comments from the Prime Minister and from Minister

0:24:17.400 --> 0:24:21.719
<v Speaker 8>Pleitasek are a breath taking misunderstanding of how the planning

0:24:21.760 --> 0:24:25.600
<v Speaker 8>system works in New South Wales and just how out

0:24:25.640 --> 0:24:27.760
<v Speaker 8>of touch they are in relation to how things happen

0:24:27.800 --> 0:24:28.520
<v Speaker 8>in the real world.

0:24:29.520 --> 0:24:33.760
<v Speaker 1>So explain, if you ken Stephen, this section ten legislation

0:24:34.000 --> 0:24:37.159
<v Speaker 1>for us, what sort of power does that bestow on

0:24:37.320 --> 0:24:41.119
<v Speaker 1>the minister and what sort of sovereign risk might that

0:24:41.320 --> 0:24:44.640
<v Speaker 1>pose to Australian mining projects Right around the country.

0:24:45.400 --> 0:24:48.040
<v Speaker 8>Well, it effectively bestows a right of vetail on the

0:24:48.080 --> 0:24:53.600
<v Speaker 8>Minister in relation to a claimed cultural heritage status of

0:24:53.640 --> 0:24:57.199
<v Speaker 8>particular sites in relation to these sorts of projects. And

0:24:57.240 --> 0:25:00.679
<v Speaker 8>it's not just mining projects. We've seen these sorts of

0:25:00.720 --> 0:25:04.639
<v Speaker 8>claims made in relation to gas projects in relation to

0:25:05.280 --> 0:25:08.600
<v Speaker 8>other mining projects, and I'm sure that that'd be applicable

0:25:08.600 --> 0:25:11.240
<v Speaker 8>to renewable energy and other projects in regional New South

0:25:11.240 --> 0:25:15.600
<v Speaker 8>Wales as well. They give the Minister a discretion to

0:25:15.680 --> 0:25:19.680
<v Speaker 8>block projects on the basis in this case of information

0:25:19.840 --> 0:25:22.919
<v Speaker 8>she says it's culturally sensitive that she can't repeat it.

0:25:23.040 --> 0:25:26.560
<v Speaker 8>So how's how's the proponents supposed to know that it

0:25:26.640 --> 0:25:31.840
<v Speaker 8>creates massive sovereign risks issues for any major investment in

0:25:31.880 --> 0:25:35.720
<v Speaker 8>regional Australia. This is a New South Wales example, but

0:25:35.800 --> 0:25:38.920
<v Speaker 8>this is a risk for regional projects right across the country.

0:25:39.000 --> 0:25:41.800
<v Speaker 8>And it's a it's a it's a weaponized piece of

0:25:41.920 --> 0:25:46.360
<v Speaker 8>legislation that we've seen used by the Environmental Environmental Defenders

0:25:46.440 --> 0:25:51.440
<v Speaker 8>Office and others to try and block resources projects. And

0:25:52.119 --> 0:25:57.200
<v Speaker 8>this is what happens when a weaponized project is given

0:25:57.400 --> 0:26:00.440
<v Speaker 8>some kind of way by the minister. So she she's

0:26:00.520 --> 0:26:04.359
<v Speaker 8>swung a wrecking ball at this project. The project is

0:26:04.440 --> 0:26:07.280
<v Speaker 8>now back to the drawing board, and for her and

0:26:07.320 --> 0:26:10.480
<v Speaker 8>the Prime Minister to suggest they can simply tweak the

0:26:10.560 --> 0:26:13.280
<v Speaker 8>application and everything is going to be okay, is, as

0:26:13.280 --> 0:26:17.080
<v Speaker 8>I said, a breathtaking misunderstanding of how these major projects

0:26:17.119 --> 0:26:19.240
<v Speaker 8>are assessed through state planning systems.

0:26:19.920 --> 0:26:22.639
<v Speaker 1>And we're not talking here. Are we about a threat

0:26:22.680 --> 0:26:27.280
<v Speaker 1>to native animals or some major environmental impact on the

0:26:27.320 --> 0:26:31.240
<v Speaker 1>region that's going to destroy a river or create damage.

0:26:31.440 --> 0:26:35.199
<v Speaker 1>We're actually talking about an indigenous complaint from an individual

0:26:35.680 --> 0:26:39.920
<v Speaker 1>that was not agreed by the actual indigenous landholders of

0:26:39.960 --> 0:26:42.800
<v Speaker 1>that area, and we don't even know exactly what the

0:26:42.800 --> 0:26:43.480
<v Speaker 1>complaint is.

0:26:44.119 --> 0:26:48.560
<v Speaker 8>These cultural heritage claims were rigorously assessed through the New

0:26:48.600 --> 0:26:53.240
<v Speaker 8>South Wales government's own processes. The local Aboriginal Land Council

0:26:53.359 --> 0:26:58.040
<v Speaker 8>said there were no sites or artifacts of cultural significance

0:26:58.160 --> 0:27:01.359
<v Speaker 8>that would prevent this project from seeding. That should be

0:27:01.440 --> 0:27:05.119
<v Speaker 8>the end of the matter. But Minister Plebsek has entertained

0:27:05.160 --> 0:27:09.520
<v Speaker 8>whispers in her ear from a dissident local indigenous group

0:27:10.440 --> 0:27:15.240
<v Speaker 8>of dubious credentials which she says are so sensitive she

0:27:15.280 --> 0:27:19.040
<v Speaker 8>can't repeat, to block this project. She knew exactly what

0:27:19.119 --> 0:27:22.720
<v Speaker 8>she was doing. She swung a wrecking ball at this project.

0:27:23.040 --> 0:27:26.160
<v Speaker 8>It's a billion dollars of investment, it's eight hundred local

0:27:26.240 --> 0:27:28.879
<v Speaker 8>jobs in regional New South Wales. And this is a

0:27:28.920 --> 0:27:31.199
<v Speaker 8>threat not just to this project but for any future

0:27:31.240 --> 0:27:34.239
<v Speaker 8>mining project here in New South Wales and across the

0:27:34.240 --> 0:27:36.879
<v Speaker 8>central west of our state, where critical minerals and metals

0:27:36.880 --> 0:27:39.320
<v Speaker 8>projects are so important to our economy for the future.

0:27:39.359 --> 0:27:42.199
<v Speaker 8>And good on Premier mins for recognizing that and for

0:27:42.240 --> 0:27:45.919
<v Speaker 8>saying that. And I feel for the local average and

0:27:45.920 --> 0:27:48.560
<v Speaker 8>a land Council who must be thinking, well, what are

0:27:48.600 --> 0:27:52.639
<v Speaker 8>our views worth in these assessments if Minister plebasec can

0:27:52.680 --> 0:27:55.720
<v Speaker 8>ignore our views and listen to whispers in her ear

0:27:55.800 --> 0:27:59.119
<v Speaker 8>from a different group and block the project on that basis.

0:28:01.400 --> 0:28:05.080
<v Speaker 1>The Premier has been strong, but he says he's not

0:28:05.280 --> 0:28:07.800
<v Speaker 1>going to pick up the phone for some reason and

0:28:08.000 --> 0:28:09.480
<v Speaker 1>try and intervene. Should he?

0:28:09.920 --> 0:28:12.960
<v Speaker 8>Well, I know that the New South Wales government, they've

0:28:13.000 --> 0:28:16.560
<v Speaker 8>done their assessment. They did the right thing. They've conducted

0:28:16.720 --> 0:28:19.240
<v Speaker 8>an assessment over more than three years on this project.

0:28:19.280 --> 0:28:22.320
<v Speaker 8>They send it to the Independent Planning Commission in our state,

0:28:22.359 --> 0:28:25.440
<v Speaker 8>which conducts an independent assessment. It was given the tick

0:28:25.480 --> 0:28:28.960
<v Speaker 8>for approval. The issues that have been raised at the

0:28:28.960 --> 0:28:31.920
<v Speaker 8>commonwealth level were raised at the state level and they

0:28:31.960 --> 0:28:34.560
<v Speaker 8>were taken into account when the approval was granted. So

0:28:35.560 --> 0:28:38.360
<v Speaker 8>if any state government should be very concerned that the

0:28:38.400 --> 0:28:41.200
<v Speaker 8>federal government now has this effective right of VUTA over

0:28:41.320 --> 0:28:44.600
<v Speaker 8>any project they wish to develop within their own jurisdictions,

0:28:44.640 --> 0:28:47.080
<v Speaker 8>and in this case it's New South Wales and the

0:28:47.120 --> 0:28:50.600
<v Speaker 8>New South Wales government has reacted accordingly, but any state

0:28:50.640 --> 0:28:53.920
<v Speaker 8>government around the country should be very wary of what

0:28:54.040 --> 0:28:57.000
<v Speaker 8>this leads to. This means that the Commonwealth can block

0:28:57.080 --> 0:29:01.959
<v Speaker 8>any project that they don't see to be politically consistent

0:29:02.000 --> 0:29:04.880
<v Speaker 8>with their values, or if they decide that they want

0:29:04.920 --> 0:29:08.440
<v Speaker 8>to block it for other reasons. So good on the

0:29:08.440 --> 0:29:10.800
<v Speaker 8>Premier and good on the New South Wales government for

0:29:10.840 --> 0:29:14.120
<v Speaker 8>standing up for New South Wales. But it's not just

0:29:14.160 --> 0:29:16.320
<v Speaker 8>a case that you can just tweak this application and

0:29:16.360 --> 0:29:19.040
<v Speaker 8>put it back into the system and move the tailings

0:29:19.120 --> 0:29:21.800
<v Speaker 8>dam on the mind plan in some kind of cut

0:29:21.840 --> 0:29:25.120
<v Speaker 8>and paced exercise. These things happen in the real world

0:29:25.160 --> 0:29:28.200
<v Speaker 8>in a lot more complicated fashion than that, and the

0:29:28.240 --> 0:29:30.440
<v Speaker 8>Prime Minister and the Minister should know that.

0:29:30.600 --> 0:29:33.480
<v Speaker 1>You make an interesting point there. I mean, what chance.

0:29:33.560 --> 0:29:37.040
<v Speaker 1>Do you think this project would have been canceled if

0:29:37.040 --> 0:29:40.080
<v Speaker 1>it were, say a renewable energy project like a wind

0:29:40.120 --> 0:29:42.320
<v Speaker 1>farm or some solar panels.

0:29:42.640 --> 0:29:45.480
<v Speaker 8>Well, if this was a dam rather than a tailings dam,

0:29:45.480 --> 0:29:47.880
<v Speaker 8>if it was a dam for a punped hydro project,

0:29:48.480 --> 0:29:51.800
<v Speaker 8>perhaps the outcome and the minister's discretionary decision would have

0:29:51.800 --> 0:29:55.320
<v Speaker 8>been different. If this was the minister from regional a

0:29:55.440 --> 0:29:59.080
<v Speaker 8>regional electorate rather from an inner city electorate under threat

0:29:59.120 --> 0:30:04.440
<v Speaker 8>from the maybe the decision would have been different. But look,

0:30:04.520 --> 0:30:06.320
<v Speaker 8>in the end, we are where we are. It's a

0:30:06.440 --> 0:30:09.600
<v Speaker 8>terrible decision and what makes it worse is the minister's

0:30:09.600 --> 0:30:13.200
<v Speaker 8>refusal to actually go to the region and front up

0:30:13.280 --> 0:30:15.800
<v Speaker 8>to the people involved in the communities that have lost

0:30:15.840 --> 0:30:18.200
<v Speaker 8>these jobs in this investment and explain her decision.

0:30:18.480 --> 0:30:21.840
<v Speaker 1>What do you reckon this might have cost the company Regions, Well.

0:30:21.720 --> 0:30:24.240
<v Speaker 8>They've already written down hundreds of millions of dollars in

0:30:24.280 --> 0:30:28.680
<v Speaker 8>their annual reporting so far. They've spent hundreds of millions

0:30:28.720 --> 0:30:31.719
<v Speaker 8>of dollars and well over five years trying to develop

0:30:31.760 --> 0:30:32.400
<v Speaker 8>this resource.

0:30:32.440 --> 0:30:33.440
<v Speaker 1>So they did the right thing.

0:30:33.480 --> 0:30:36.719
<v Speaker 8>They decided they would invest in New South Wales, create

0:30:36.760 --> 0:30:40.480
<v Speaker 8>those jobs and generate that investment, and I'm sure they

0:30:40.520 --> 0:30:43.560
<v Speaker 8>are reeling and others are also thinking, well why would

0:30:43.560 --> 0:30:46.280
<v Speaker 8>we bother, not just in New South Wales but around

0:30:46.280 --> 0:30:49.160
<v Speaker 8>the country when this sort of decision can be imposed

0:30:49.160 --> 0:30:51.320
<v Speaker 8>at the very last minute after our more than four

0:30:51.400 --> 0:30:54.760
<v Speaker 8>or five year extensive assessment process by the state government

0:30:54.760 --> 0:30:55.280
<v Speaker 8>and others.

0:30:55.320 --> 0:30:56.560
<v Speaker 1>This project had.

0:30:56.400 --> 0:31:00.640
<v Speaker 8>All its Commonwealth approvals as well, apart from Minister Clevers's

0:31:00.880 --> 0:31:04.960
<v Speaker 8>Cultural Heritage approval too, So you know, it's a terrible

0:31:05.000 --> 0:31:07.760
<v Speaker 8>signal for investment in region on East South Wales and

0:31:07.880 --> 0:31:10.760
<v Speaker 8>these projects are so important for regional economies and regional

0:31:10.800 --> 0:31:14.280
<v Speaker 8>communities and that's why you've seen such a reaction from

0:31:14.440 --> 0:31:18.320
<v Speaker 8>the locals in that region, and it's a warning sign

0:31:18.440 --> 0:31:20.720
<v Speaker 8>for any other regional community across the country.

0:31:21.160 --> 0:31:24.600
<v Speaker 1>Well, it's just disgraceful. Stephen Galilee, appreciate it. Thank you

0:31:24.680 --> 0:31:28.760
<v Speaker 1>very much for coming on the program tonight. Well that

0:31:28.840 --> 0:31:30.960
<v Speaker 1>was a very blunt assessment, wasn't it. Now still to

0:31:30.960 --> 0:31:34.320
<v Speaker 1>come Jim Chalmers, the Treasurer, he's today doubled down on

0:31:34.360 --> 0:31:39.000
<v Speaker 1>those comments where he said Peter Dutton is a divisive figure.

0:31:39.400 --> 0:31:41.960
<v Speaker 1>Is Labor playing the right game? Here? Will ask the

0:31:42.000 --> 0:31:45.280
<v Speaker 1>panel up next. Plus I'll be joined by economist Leith Vannsel,

0:31:45.360 --> 0:31:47.520
<v Speaker 1>and we'll talk about He'll join us live to break

0:31:47.560 --> 0:31:54.640
<v Speaker 1>down the latest inflation figures and what they mean. Welcome

0:31:54.640 --> 0:31:57.400
<v Speaker 1>back on this Wednesday night, Steve Price in for Charie Markson.

0:31:57.720 --> 0:32:00.000
<v Speaker 1>Shari will be back with you tomorrow night. Paul Murray

0:32:00.160 --> 0:32:03.160
<v Speaker 1>coming up at the top of the hour. Now, treasure

0:32:03.160 --> 0:32:06.200
<v Speaker 1>of Jim Chalmers. He made a very long, hour long

0:32:06.240 --> 0:32:10.000
<v Speaker 1>speech at the weekend, and he doubled down today on

0:32:10.040 --> 0:32:12.520
<v Speaker 1>some of the comments he made in that speech about

0:32:12.520 --> 0:32:16.200
<v Speaker 1>Opposition leader Peter Dutton. Now, he used the word divisive

0:32:16.280 --> 0:32:18.960
<v Speaker 1>on the weekend, but he also used the word dangerous.

0:32:19.000 --> 0:32:21.600
<v Speaker 1>Now he said today that he was standing by his

0:32:21.840 --> 0:32:25.840
<v Speaker 1>comments that the opposition leader is divisive. But I note

0:32:25.880 --> 0:32:29.320
<v Speaker 1>that the word dangerous went missing. Here was what Jim

0:32:29.400 --> 0:32:30.640
<v Speaker 1>Chalmers had to say today.

0:32:31.960 --> 0:32:34.520
<v Speaker 10>Most people look around the world and see the divisiveness

0:32:34.520 --> 0:32:36.960
<v Speaker 10>in politics overseas. They want to reject it, and he

0:32:37.000 --> 0:32:39.560
<v Speaker 10>seems to want to embrace it. And so the point

0:32:39.560 --> 0:32:41.680
<v Speaker 10>that I made then and the point that I'm making

0:32:41.800 --> 0:32:45.240
<v Speaker 10>again today is that our focus is on the cost

0:32:45.280 --> 0:32:48.320
<v Speaker 10>of living and the fight against inflation. His focus is

0:32:48.360 --> 0:32:52.120
<v Speaker 10>on dividing people. And that's because that's all he knows,

0:32:52.320 --> 0:32:53.920
<v Speaker 10>and it's all that he does.

0:32:56.080 --> 0:32:59.240
<v Speaker 1>Pure politics. That's it's all about. Let's bring in tonight's

0:32:59.480 --> 0:33:02.640
<v Speaker 1>political panel talking in politics, Liberal Senator Holly Hugheser was

0:33:02.640 --> 0:33:05.600
<v Speaker 1>great to see her and Julia Gallat's former press secretary

0:33:05.880 --> 0:33:11.000
<v Speaker 1>Darren Barnette. Welcome to you both. Can I start with you, Senator?

0:33:12.680 --> 0:33:14.640
<v Speaker 1>I feel like I'm in a bit of a time

0:33:14.720 --> 0:33:17.880
<v Speaker 1>warp here I can take us and you were there,

0:33:18.000 --> 0:33:19.920
<v Speaker 1>you can go all the way back. This is how

0:33:20.080 --> 0:33:23.880
<v Speaker 1>the Labor Opposition used to describe Tony Abbott, wasn't.

0:33:23.640 --> 0:33:28.600
<v Speaker 11>It Absolutely And that went so well for them. But

0:33:28.680 --> 0:33:33.080
<v Speaker 11>it's just extraordinary that these personal attacks on Peter Dutton

0:33:33.440 --> 0:33:37.560
<v Speaker 11>is basically all they've got left in their armory. They've

0:33:37.640 --> 0:33:40.560
<v Speaker 11>completely failed when it comes to addressing cost of living

0:33:40.600 --> 0:33:44.320
<v Speaker 11>pressures in this country. Everyday Australians are doing an increasingly

0:33:44.400 --> 0:33:48.560
<v Speaker 11>tough whether it's a supermarket at the petrol bowser, trying

0:33:48.560 --> 0:33:51.240
<v Speaker 11>to put a roof over the head and food on

0:33:51.280 --> 0:33:55.280
<v Speaker 11>the table. It's becoming increasingly difficult for Australian families. Yet

0:33:55.320 --> 0:33:59.600
<v Speaker 11>all this Labor government has is continual personal attacks and

0:34:00.280 --> 0:34:06.120
<v Speaker 11>is and Jim Chalmers to spend his time making these

0:34:06.160 --> 0:34:10.080
<v Speaker 11>outrageous statements when Australians are doing so Doing it so

0:34:10.160 --> 0:34:13.800
<v Speaker 11>tough is just ridiculous and insulting to all of those.

0:34:13.640 --> 0:34:18.239
<v Speaker 1>Australians, Darren. In your time in government, obviously you sit

0:34:18.280 --> 0:34:23.160
<v Speaker 1>down and discuss tactics with a leader, when you discuss

0:34:23.760 --> 0:34:26.880
<v Speaker 1>how to portray the person you want to beat in

0:34:26.920 --> 0:34:31.239
<v Speaker 1>an electoral contest, how much discussion around the table is

0:34:31.640 --> 0:34:33.360
<v Speaker 1>how much of it should be personal?

0:34:35.160 --> 0:34:37.680
<v Speaker 12>I think that Look, Labor Party does it and other

0:34:37.719 --> 0:34:40.080
<v Speaker 12>parties do it too. Is they go to focus groups,

0:34:40.080 --> 0:34:44.640
<v Speaker 12>they see which words, which phrases, which descriptions resonate with

0:34:44.719 --> 0:34:48.400
<v Speaker 12>people at a certain point in time. Obviously that term

0:34:48.640 --> 0:34:53.120
<v Speaker 12>divisive or divisive has come up at some point. But honestly,

0:34:53.160 --> 0:34:56.799
<v Speaker 12>it's not a surprise that an opposition leader would try

0:34:56.800 --> 0:34:59.520
<v Speaker 12>to be divisive. That's their job. They oppose, They open

0:34:59.600 --> 0:35:03.480
<v Speaker 12>up fault lines in government arguments and they try to

0:35:03.760 --> 0:35:06.839
<v Speaker 12>exploit those and convince people to come over to their

0:35:06.920 --> 0:35:09.759
<v Speaker 12>side when they next vote. But that second word that

0:35:09.800 --> 0:35:13.600
<v Speaker 12>you mentioned, being dangerous, that's a much more risky word

0:35:13.640 --> 0:35:16.600
<v Speaker 12>to use, and I think that's probably why it's been

0:35:16.719 --> 0:35:20.160
<v Speaker 12>left in the locker for today's speech. But divisive. I

0:35:20.160 --> 0:35:22.440
<v Speaker 12>think that's going to be a term that everyone in

0:35:22.480 --> 0:35:25.960
<v Speaker 12>opposition is going to be described by everyone in government,

0:35:26.200 --> 0:35:29.080
<v Speaker 12>and when there's inevitably a change of government, they'll just

0:35:29.080 --> 0:35:31.920
<v Speaker 12>swap talking points and the same descriptions will run in

0:35:31.960 --> 0:35:32.640
<v Speaker 12>the other direction.

0:35:35.000 --> 0:35:37.480
<v Speaker 1>Holly, I mean Tony Abbott had the Gold Medal for

0:35:37.680 --> 0:35:40.160
<v Speaker 1>how to be an opposition leader, put your arguments and

0:35:40.200 --> 0:35:44.880
<v Speaker 1>get elected. Is Peter Dutton taking a leaf out of

0:35:44.960 --> 0:35:47.560
<v Speaker 1>Abbot's book and modeling the way he's going to fight

0:35:47.600 --> 0:35:51.319
<v Speaker 1>this election on the way Abbott did it? Well?

0:35:51.320 --> 0:35:54.840
<v Speaker 11>I think Peter is being Peter. I've known him for

0:35:54.880 --> 0:35:57.040
<v Speaker 11>over twenty years and I think he's doing a great

0:35:57.120 --> 0:36:00.440
<v Speaker 11>job as opposition leader. And I think Margaret's use to

0:36:00.440 --> 0:36:02.560
<v Speaker 11>say I love it when they go personal because it

0:36:02.600 --> 0:36:05.840
<v Speaker 11>means they've got no arguments left. And I think that's

0:36:05.880 --> 0:36:09.160
<v Speaker 11>the case with this government. And it's interesting though, using

0:36:09.200 --> 0:36:12.960
<v Speaker 11>the word divisive or the creating division, when we know

0:36:13.080 --> 0:36:15.799
<v Speaker 11>it was this Prime Minister through the Voice campaign that

0:36:15.920 --> 0:36:19.480
<v Speaker 11>probably injected the moist division this country has ever seen

0:36:20.360 --> 0:36:23.000
<v Speaker 11>within the communities. So I think they have to be

0:36:23.040 --> 0:36:26.239
<v Speaker 11>careful here in the ALP because it's very easy to

0:36:26.280 --> 0:36:28.759
<v Speaker 11>turn around that this is a government that's brought more

0:36:28.760 --> 0:36:32.440
<v Speaker 11>division to this country. Whether it's been how they've dealt

0:36:32.760 --> 0:36:35.960
<v Speaker 11>with the situation in Gaza and anti Semitic attacks and

0:36:35.960 --> 0:36:40.000
<v Speaker 11>their inability to get off the fence and defend our

0:36:40.040 --> 0:36:43.480
<v Speaker 11>Australian Jewish community and what's been happening, whether it was

0:36:43.520 --> 0:36:47.520
<v Speaker 11>the Voice referendum, but the continual divisiveness that this alp

0:36:47.719 --> 0:36:51.720
<v Speaker 11>government has tried to stoke. I can't see it working

0:36:51.760 --> 0:36:54.360
<v Speaker 11>well for them as we get closer to the election.

0:36:56.520 --> 0:36:59.120
<v Speaker 1>Darren, the choice of the word divisive, what do you

0:36:59.160 --> 0:37:04.680
<v Speaker 1>think exactly that Treasurer Charmers is pointing to. Is he

0:37:04.800 --> 0:37:09.280
<v Speaker 1>talking about the attitude of Peter Dutton to not allow

0:37:10.040 --> 0:37:14.839
<v Speaker 1>visa holders from Palestine into Australia when they're not being

0:37:14.920 --> 0:37:17.440
<v Speaker 1>checked properly. Is it division about how we're going to

0:37:17.480 --> 0:37:20.600
<v Speaker 1>generate power or is it a general term that he

0:37:20.719 --> 0:37:23.920
<v Speaker 1>divides the community because of his tough politics.

0:37:24.600 --> 0:37:26.840
<v Speaker 12>Well, I think it's a term that resonates in different

0:37:26.840 --> 0:37:30.960
<v Speaker 12>parts of the country. You'll find the inner suburban seats

0:37:31.000 --> 0:37:35.040
<v Speaker 12>of the major capitals, probably the two that you just described,

0:37:35.440 --> 0:37:38.960
<v Speaker 12>they are issues that resonate. I think the nuclear power

0:37:39.040 --> 0:37:42.920
<v Speaker 12>debate divisive is one way of describing it's certainly bold

0:37:43.840 --> 0:37:46.160
<v Speaker 12>and we will wait to see how the Australian people

0:37:46.560 --> 0:37:49.160
<v Speaker 12>take that when they put their vote at the next election.

0:37:49.560 --> 0:37:52.480
<v Speaker 12>But as I said before, it's the job of the

0:37:52.520 --> 0:37:55.880
<v Speaker 12>opposition to put up alternatives and it's their job to

0:37:56.000 --> 0:37:59.160
<v Speaker 12>open up fault lines in government arguments. And when you're

0:37:59.160 --> 0:38:02.280
<v Speaker 12>a government minister and you're trying to sell the message

0:38:02.280 --> 0:38:04.440
<v Speaker 12>of the day or the story of the day and

0:38:04.520 --> 0:38:09.200
<v Speaker 12>someone comes along and just completely derails that, you probably

0:38:09.200 --> 0:38:11.719
<v Speaker 12>get a bit frustrated. But that's part of the rough

0:38:11.719 --> 0:38:13.919
<v Speaker 12>and tumble of politics and you just got to deal

0:38:13.920 --> 0:38:14.680
<v Speaker 12>with it and move on.

0:38:17.000 --> 0:38:20.400
<v Speaker 1>We all love a political snub. Queensland Premier Stephen Miles,

0:38:20.440 --> 0:38:22.839
<v Speaker 1>now you've got to say not the most popular bloke

0:38:22.920 --> 0:38:26.839
<v Speaker 1>in Queensland. Even his predecessor and his one time all

0:38:27.239 --> 0:38:30.920
<v Speaker 1>Anastagia Palischoe, the former Premier, wouldn't endorse him. Have a

0:38:30.960 --> 0:38:33.240
<v Speaker 1>look at this awkward encounter over the weekend.

0:38:34.360 --> 0:38:38.240
<v Speaker 12>Sere a Miles endorsement though, well, thanks for coming along today,

0:38:38.360 --> 0:38:38.840
<v Speaker 12>I got.

0:38:38.680 --> 0:38:42.239
<v Speaker 1>To keep going. Can we expect to see it? Not

0:38:42.360 --> 0:38:46.160
<v Speaker 1>exactly a ringindorsement An hour later, Holly, obviously, after the

0:38:46.239 --> 0:38:49.640
<v Speaker 1>video began being sent out on social media. The premier

0:38:49.719 --> 0:38:52.759
<v Speaker 1>reached out to the Career Mail to say that of

0:38:52.840 --> 0:38:58.319
<v Speaker 1>course she endorses the embattled Stephen Miles. Mister Miles would

0:38:58.360 --> 0:39:00.000
<v Speaker 1>not have been happy boy behind the scene.

0:39:00.000 --> 0:39:03.880
<v Speaker 11>I wouldn't have thought, Oh, nothing more bitter than a

0:39:03.920 --> 0:39:07.000
<v Speaker 11>former Labor premier who was tapped on the shoulder for

0:39:07.040 --> 0:39:09.680
<v Speaker 11>this bloke. I mean, I think the writing's on the

0:39:09.680 --> 0:39:14.080
<v Speaker 11>wall for the ALP and Queensland. They've absolutely destroyed the

0:39:14.160 --> 0:39:17.640
<v Speaker 11>state of Queensland and continue to drive its economy into

0:39:17.680 --> 0:39:21.480
<v Speaker 11>the ground. It's probably the most sensible thing Anastasia Palichet's

0:39:21.520 --> 0:39:24.560
<v Speaker 11>ever done by not endorsing Steven Miles. Maybe she's thinking

0:39:24.600 --> 0:39:27.080
<v Speaker 11>of coming back and doesn't want to tire her own reputation,

0:39:27.280 --> 0:39:31.120
<v Speaker 11>but I can't imagine anyone's out there too heavily endorsing

0:39:31.200 --> 0:39:34.400
<v Speaker 11>Steven Miles except for Steven Miles. At this point in time.

0:39:36.120 --> 0:39:40.680
<v Speaker 1>Darren Norton territory election, we saw obviously the Country Liberal

0:39:40.680 --> 0:39:44.000
<v Speaker 1>Party not Labour sideways so much so that Labour's only

0:39:44.000 --> 0:39:45.800
<v Speaker 1>going to end up. I think with about five seats

0:39:46.040 --> 0:39:49.040
<v Speaker 1>you've got Queensland. Talking of Miles, there they are facing,

0:39:49.360 --> 0:39:52.719
<v Speaker 1>if the polls are right, something of an electra wipeout

0:39:52.719 --> 0:39:56.880
<v Speaker 1>in a couple of months time. That's too Domino's down.

0:39:57.360 --> 0:40:01.280
<v Speaker 1>How worried would the head office of the Labor Party

0:40:01.320 --> 0:40:03.800
<v Speaker 1>be about those two elections going that way?

0:40:05.280 --> 0:40:09.359
<v Speaker 12>Well, it's obviously not a good trend. But equally there's

0:40:09.400 --> 0:40:12.239
<v Speaker 12>not a lot of upside for Labor in Queensland or

0:40:12.400 --> 0:40:15.840
<v Speaker 12>Northern Territory when it comes to the next election. Frankly,

0:40:15.920 --> 0:40:19.360
<v Speaker 12>the federal result in Queensland for Labor last time around

0:40:19.640 --> 0:40:22.319
<v Speaker 12>was disappointing that the seats that were there to be

0:40:22.400 --> 0:40:25.359
<v Speaker 12>won ended up being picked up by the Greens. And

0:40:25.400 --> 0:40:29.160
<v Speaker 12>as we all know, whether it's Greens or Teals or Independence,

0:40:29.520 --> 0:40:34.239
<v Speaker 12>once your seats go to those independent style candidates, it's

0:40:34.360 --> 0:40:37.240
<v Speaker 12>very hard to get them back. So I think, look,

0:40:37.280 --> 0:40:40.120
<v Speaker 12>it's not great, I'm not happy. I'm not going to

0:40:40.320 --> 0:40:45.160
<v Speaker 12>try and sugarcoat that. But equally, the next election, they're

0:40:45.200 --> 0:40:48.399
<v Speaker 12>probably not the two parts of Australia where it will

0:40:48.440 --> 0:40:49.839
<v Speaker 12>be either won or lost.

0:40:52.280 --> 0:40:55.480
<v Speaker 1>Holly. Speaking of the Greens, Adam Bant likes to portray

0:40:55.560 --> 0:40:59.960
<v Speaker 1>himself these days as Robin Hood he was the National

0:41:00.080 --> 0:41:03.160
<v Speaker 1>Press Press Club. Today is a little bit of what

0:41:03.239 --> 0:41:03.800
<v Speaker 1>he promised.

0:41:04.800 --> 0:41:07.719
<v Speaker 2>It's time to make the big corporations and billionaires pay

0:41:07.760 --> 0:41:10.640
<v Speaker 2>their fair share of tax. Today I can announce the

0:41:10.680 --> 0:41:14.040
<v Speaker 2>first of these robin Hood reforms. We're calling it a

0:41:14.080 --> 0:41:17.560
<v Speaker 2>big Corporations tax. It will apply to companies with an

0:41:17.600 --> 0:41:21.719
<v Speaker 2>annual turnover of over one hundred million dollars, taxing the

0:41:21.840 --> 0:41:24.399
<v Speaker 2>excess profits that these companies make.

0:41:25.840 --> 0:41:29.160
<v Speaker 1>Holly robin Hood dressed in green rights with a bull

0:41:29.200 --> 0:41:30.320
<v Speaker 1>and arrow.

0:41:31.160 --> 0:41:32.960
<v Speaker 11>I was just going to say, the only thing missing

0:41:33.160 --> 0:41:36.719
<v Speaker 11>was the tights. There's certainly not an economics textbook the

0:41:36.760 --> 0:41:39.839
<v Speaker 11>Greens have ever read in their life. It just their

0:41:40.120 --> 0:41:44.440
<v Speaker 11>complete ignorance when it comes to basic economics is always

0:41:45.000 --> 0:41:48.880
<v Speaker 11>quite a thing of beauty in its complete the extent

0:41:49.000 --> 0:41:52.880
<v Speaker 11>of it is unbelievable. They have no idea. Who do

0:41:52.920 --> 0:41:56.200
<v Speaker 11>they think employees Australians. You know, it's not government that

0:41:56.280 --> 0:41:59.480
<v Speaker 11>creates jobs, it is business. And what they're trying to

0:41:59.560 --> 0:42:03.360
<v Speaker 11>do will either destroy business here will send it off shore.

0:42:03.680 --> 0:42:05.960
<v Speaker 11>We know that they would have us all living in

0:42:06.000 --> 0:42:09.520
<v Speaker 11>treehouses eating mung beans and witchity grubs, and we might

0:42:09.760 --> 0:42:12.200
<v Speaker 11>not be allowed to the witchity grubs anymore. But you know,

0:42:12.320 --> 0:42:14.440
<v Speaker 11>I mean, these guys are just so out of touch

0:42:14.480 --> 0:42:17.840
<v Speaker 11>with reality. But as Darren just made in the previous point.

0:42:18.040 --> 0:42:21.120
<v Speaker 11>You know, in Queensland Labor didn't pick up seats off

0:42:21.160 --> 0:42:24.719
<v Speaker 11>the coalition. Those seats that we lost in Queensland went

0:42:24.800 --> 0:42:28.120
<v Speaker 11>to the Greens, and people in Australia need to really

0:42:28.160 --> 0:42:30.799
<v Speaker 11>the electorate needs to have a really, really good think

0:42:31.280 --> 0:42:33.960
<v Speaker 11>about what it would look like with the Greens in

0:42:34.000 --> 0:42:37.960
<v Speaker 11>a minority government. Putting the Greens near the treasury benches,

0:42:38.480 --> 0:42:41.399
<v Speaker 11>it's not good news for anyone in Australia.

0:42:41.719 --> 0:42:41.919
<v Speaker 1>Now.

0:42:41.960 --> 0:42:45.040
<v Speaker 11>Obviously I'd like to vote for the Liberal Party, and

0:42:45.040 --> 0:42:47.480
<v Speaker 11>I'm sure Darren would like them to vote Labor. But

0:42:47.640 --> 0:42:50.719
<v Speaker 11>this trend of not voting for a major party of government,

0:42:51.480 --> 0:42:55.960
<v Speaker 11>I think runs the risk of really putting our parliament

0:42:56.040 --> 0:42:57.719
<v Speaker 11>in a very precarious situation.

0:43:00.200 --> 0:43:02.640
<v Speaker 1>Darren, I was quite pleased with myself tonight. I've described

0:43:02.640 --> 0:43:06.040
<v Speaker 1>Adam Banders reminding me of a student living in a sharehouse,

0:43:06.120 --> 0:43:11.359
<v Speaker 1>riding his bike to university and eating, as Holly just said,

0:43:11.360 --> 0:43:14.960
<v Speaker 1>among being sandwiches for lunch. The Labor Party are not

0:43:14.960 --> 0:43:17.960
<v Speaker 1>going to deal with the Greens, are they? Surely I

0:43:18.000 --> 0:43:18.560
<v Speaker 1>think they can.

0:43:18.680 --> 0:43:20.920
<v Speaker 12>Amusingly, I knew Adam Bant when he was a student

0:43:20.960 --> 0:43:23.640
<v Speaker 12>at Melbourne University about thirty years ago and he was

0:43:23.719 --> 0:43:29.000
<v Speaker 12>exactly as you describe, not surprisingly, but that said, look,

0:43:29.120 --> 0:43:33.600
<v Speaker 12>Labor in combination with the Greens, we saw what happened.

0:43:33.600 --> 0:43:36.440
<v Speaker 12>I worked in the Gillard government. We saw how popular

0:43:36.480 --> 0:43:39.520
<v Speaker 12>that was with the electorate. Labor does not want to

0:43:39.640 --> 0:43:44.080
<v Speaker 12>form minority government with the Greens, full stop, not now,

0:43:44.360 --> 0:43:45.719
<v Speaker 12>not in the current political life.

0:43:46.200 --> 0:43:47.760
<v Speaker 11>They will though if they can.

0:43:49.400 --> 0:43:52.200
<v Speaker 12>Who's to say what the future holds that they do

0:43:52.280 --> 0:43:54.480
<v Speaker 12>not want to And look, I'm to say it, I'm

0:43:54.520 --> 0:43:57.320
<v Speaker 12>not employed by the Labor Party these days. If Labour's

0:43:57.320 --> 0:44:00.759
<v Speaker 12>in minority government with the Greens, it's their last. It's

0:44:00.800 --> 0:44:05.279
<v Speaker 12>really that simple. So these policies that Adam Bant is

0:44:05.320 --> 0:44:09.319
<v Speaker 12>putting out, they are actually popular with younger voters in

0:44:09.360 --> 0:44:12.480
<v Speaker 12>a city, people who can't afford a home, who are

0:44:12.480 --> 0:44:16.160
<v Speaker 12>struggling with various parts of cost of living, and they

0:44:16.200 --> 0:44:20.240
<v Speaker 12>see the big bad multinational corporations. It's like an episode

0:44:20.239 --> 0:44:22.880
<v Speaker 12>of Team America. But you've got to take it on

0:44:22.920 --> 0:44:25.360
<v Speaker 12>board that those people still vote and their vote is

0:44:25.400 --> 0:44:28.799
<v Speaker 12>worth as much as anybody else's. At the moment, you'd

0:44:28.800 --> 0:44:31.160
<v Speaker 12>have to think with their vote the Greens holding up

0:44:31.160 --> 0:44:34.560
<v Speaker 12>at twelve to fourteen percent, they may not lose their

0:44:34.560 --> 0:44:39.040
<v Speaker 12>lower House representation, and they will probably hold their Senate representation,

0:44:39.440 --> 0:44:42.400
<v Speaker 12>so they're not going anywhere. The difficulty for the major

0:44:42.440 --> 0:44:45.200
<v Speaker 12>parties is who do you deal with if you're facing

0:44:45.280 --> 0:44:49.719
<v Speaker 12>minority and on what terms do you deal with them?

0:44:50.080 --> 0:44:52.400
<v Speaker 1>Well said Darren, I can just imagine you and Adam

0:44:52.480 --> 0:44:56.160
<v Speaker 1>sharing a bunk bed at the university in the good

0:44:56.160 --> 0:44:59.839
<v Speaker 1>old days. Holly Huestarebinette, thank you very much for joining

0:44:59.920 --> 0:45:03.960
<v Speaker 1>us tonight. Still to come. The inflation numbers were out today.

0:45:04.280 --> 0:45:08.400
<v Speaker 1>We'll catch up with the economist Leaf and onsol and

0:45:08.680 --> 0:45:12.000
<v Speaker 1>to see what it means for the crucial upcoming rates decision.

0:45:16.480 --> 0:45:18.759
<v Speaker 1>Charry Marxon back with you tomorrow night. Paul Murray coming

0:45:18.840 --> 0:45:22.399
<v Speaker 1>up next. CPI Index released today showed that inflation needs

0:45:22.480 --> 0:45:25.640
<v Speaker 1>to three point five percent in annual terms in July,

0:45:25.800 --> 0:45:28.800
<v Speaker 1>down three point eight from June. Now overall, the Treasure

0:45:28.840 --> 0:45:30.920
<v Speaker 1>seem pretty pleased with those results.

0:45:32.200 --> 0:45:35.920
<v Speaker 10>We'd like inflation to fall further and faster, and we

0:45:36.040 --> 0:45:36.640
<v Speaker 10>expect it to.

0:45:37.840 --> 0:45:38.680
<v Speaker 1>What we've seen in.

0:45:38.640 --> 0:45:42.280
<v Speaker 10>This data today is really quite welcoming, are quite welcome

0:45:42.440 --> 0:45:43.520
<v Speaker 10>and quite encouraging.

0:45:45.760 --> 0:45:49.360
<v Speaker 1>Let's bringing Macro Business Chief economist Leith van Onsel and

0:45:49.440 --> 0:45:53.280
<v Speaker 1>Leith Let's start with the market predictions. It didn't quite

0:45:53.520 --> 0:45:57.880
<v Speaker 1>fall as economist's forecast. What kept it a bit more sticky,

0:45:57.880 --> 0:45:58.359
<v Speaker 1>do we think?

0:46:00.160 --> 0:46:02.680
<v Speaker 9>Look, there was a lot of uncertainty amongst economists about

0:46:02.680 --> 0:46:05.440
<v Speaker 9>today's result, really because we didn't know what the impact

0:46:05.480 --> 0:46:07.239
<v Speaker 9>of the federal government's energy.

0:46:06.960 --> 0:46:09.200
<v Speaker 1>Subsidies would be, so we had market.

0:46:08.920 --> 0:46:12.439
<v Speaker 9>Economists predicted anything from two point seven percent to three

0:46:12.440 --> 0:46:14.640
<v Speaker 9>point nine percent, So it'd ended up coming to a

0:46:14.680 --> 0:46:16.800
<v Speaker 9>three point five percent, which was slightly higher than the

0:46:16.840 --> 0:46:19.600
<v Speaker 9>median forecast of three point four percent. As it turned out,

0:46:19.600 --> 0:46:22.319
<v Speaker 9>electricity prices in the CPI fell by six point four

0:46:22.320 --> 0:46:23.640
<v Speaker 9>percent over the month, and that pretty.

0:46:23.440 --> 0:46:24.320
<v Speaker 1>Much drove the result.

0:46:24.760 --> 0:46:28.200
<v Speaker 9>There was some good news though, We are seeing broadening

0:46:28.239 --> 0:46:32.600
<v Speaker 9>disinflationary pressures beyond energy, so Steve. The number of items

0:46:32.600 --> 0:46:36.480
<v Speaker 9>in the CPI basket which had annual inflation rates below

0:46:36.680 --> 0:46:40.000
<v Speaker 9>two percent actually out numbers the number of ibeans where

0:46:40.040 --> 0:46:42.920
<v Speaker 9>inflation has grown above the Reserve banks target of three percent.

0:46:43.000 --> 0:46:46.880
<v Speaker 9>So we are seeing some broadening disinflationary pressures, which I

0:46:46.920 --> 0:46:48.440
<v Speaker 9>think is good news.

0:46:49.560 --> 0:46:51.200
<v Speaker 1>It's hard thing to get your head around. I mean,

0:46:51.239 --> 0:46:55.040
<v Speaker 1>petrol prices in Victoria at the moment are really low,

0:46:55.239 --> 0:46:58.359
<v Speaker 1>but three weeks ago, you were paying two twenty two

0:46:58.440 --> 0:47:02.040
<v Speaker 1>thirty cents a leader. Now you're paying somewhere around somewhere

0:47:02.080 --> 0:47:05.080
<v Speaker 1>between dollars sixty dollars eighty. But petrol's in there.

0:47:04.960 --> 0:47:08.799
<v Speaker 9>Right, Yeah, that's right mate. Petrol rents pretty much. You know,

0:47:09.080 --> 0:47:12.080
<v Speaker 9>there's a whole bunch of stuff that that we paid for. Look,

0:47:12.080 --> 0:47:16.280
<v Speaker 9>the Reserve Bank tends to look beyond those really volatile measures,

0:47:16.280 --> 0:47:18.440
<v Speaker 9>so it looks more at things which is something called

0:47:18.520 --> 0:47:22.560
<v Speaker 9>underlying inflation, and that also eased as well, So that

0:47:22.960 --> 0:47:25.080
<v Speaker 9>fell to three point seven percent in July from four

0:47:25.080 --> 0:47:27.920
<v Speaker 9>percent in June, and in fact, the monthly result for

0:47:28.000 --> 0:47:30.680
<v Speaker 9>the underlying inflation was actually the lowest since July twenty

0:47:30.719 --> 0:47:33.840
<v Speaker 9>twenty one, so we are getting some progress there in inflation.

0:47:34.320 --> 0:47:36.520
<v Speaker 9>The big problem I got, Steve, though, is that the

0:47:36.560 --> 0:47:39.200
<v Speaker 9>thing that's driven the fallen inflation over the last year

0:47:39.560 --> 0:47:42.080
<v Speaker 9>has actually been tradable good so that's basically things that

0:47:42.120 --> 0:47:45.919
<v Speaker 9>we pull off off a shipping container. Inflation there's only

0:47:45.960 --> 0:47:48.400
<v Speaker 9>been at one and a half percent. The sticky part

0:47:48.719 --> 0:47:52.160
<v Speaker 9>is that services inflation, or non tradable inflation, that's that

0:47:52.239 --> 0:47:55.360
<v Speaker 9>domestically driven inflation, is still running at five percent and

0:47:55.400 --> 0:47:57.160
<v Speaker 9>That's the thing that I think will worry the RBA

0:47:57.320 --> 0:47:59.799
<v Speaker 9>because that's quite sticky. It looks like we've run our

0:47:59.840 --> 0:48:02.520
<v Speaker 9>ray with tradeables. They're not going to fall below what

0:48:02.560 --> 0:48:05.319
<v Speaker 9>they're at. So if we are going to bring inflation down,

0:48:05.360 --> 0:48:09.840
<v Speaker 9>we need this sticky services inflation to fall. Still, no

0:48:09.960 --> 0:48:13.840
<v Speaker 9>rate cut till next year, Yeah, no, absolutely not. I

0:48:13.840 --> 0:48:15.920
<v Speaker 9>think we could rule out rate cuts this year. To

0:48:15.960 --> 0:48:17.839
<v Speaker 9>see rate cuts, we're going to have to see one

0:48:18.040 --> 0:48:20.040
<v Speaker 9>or two things. One of them is, obviously we're going

0:48:20.120 --> 0:48:23.520
<v Speaker 9>to have to see inflation fall much further than it has. Otherwise,

0:48:23.520 --> 0:48:26.279
<v Speaker 9>we're going to have to see unemployment rise significantly. And

0:48:26.280 --> 0:48:28.959
<v Speaker 9>I don't think we'll get either of those things before

0:48:28.960 --> 0:48:29.520
<v Speaker 9>the end of the year.

0:48:29.560 --> 0:48:33.640
<v Speaker 1>Wow. Yeah, No one wants to see that, Leith. I

0:48:33.680 --> 0:48:35.920
<v Speaker 1>agree with you completely. Thank you very much for that,

0:48:35.960 --> 0:48:38.600
<v Speaker 1>my friend Leith and Nonseloin there on the issue of

0:48:38.680 --> 0:48:42.800
<v Speaker 1>whether we'll get a rate cut up next Paul Murray