WEBVTT - Sharri | 26 March 0:00:01.560 --> 0:00:08.440 Live on Sky News. This is Sharry Good Evening Tonight. 0:00:08.680 --> 0:00:12.160 A decade of deficits, a trillion dollar debt and a 0:00:12.200 --> 0:00:15.800 tax cut worth less than a coffee. The political fight 0:00:15.960 --> 0:00:19.320 over the federal budget heats up. Michael Kroger and Judith 0:00:19.320 --> 0:00:22.880 Sloan will give their verdict. Also in the show, Ben 0:00:22.960 --> 0:00:26.119 Roberts Smith on the verge of taking legal action after 0:00:26.239 --> 0:00:30.240 our revelations that nine journalists Nick mackenzie claim to have 0:00:30.280 --> 0:00:34.400 obtained his legal strategy in secret recordings where he also 0:00:34.479 --> 0:00:36.479 said he'd breached his ethics. 0:00:36.520 --> 0:00:38.280 How exclusive coming. 0:00:38.080 --> 0:00:42.320 Up, Plus the extraordinary uprising against Hermus on the streets 0:00:42.320 --> 0:00:47.239 of Gaza as Palestinians brave Palestinians voice their anger with 0:00:47.280 --> 0:00:48.120 the terror regime. 0:00:48.520 --> 0:00:49.159 We will the. 0:00:49.159 --> 0:00:52.720 Hypocrites in the West finally wake up and realize that 0:00:52.800 --> 0:00:58.160 Hermus are not freedom fighters. And the shocking verbal assault 0:00:58.240 --> 0:01:02.880 of a liberal politician on breakfast television Jackie Lamby Owes 0:01:03.000 --> 0:01:08.039 Jane Hume an apology but first tonight, Jim Chalmers tax 0:01:08.080 --> 0:01:12.360 cuts today have been widely condemned across the board as small, 0:01:12.840 --> 0:01:15.960 insignificant and according to the Coalition. 0:01:15.880 --> 0:01:19.360 A hoax and a bribe. Well if a five. 0:01:19.120 --> 0:01:22.360 Dollars a week tax cut was slammed as two small 0:01:22.440 --> 0:01:24.839 twenty two years ago. 0:01:25.120 --> 0:01:27.000 Then it was even less welcome. 0:01:27.160 --> 0:01:30.560 Today we're in a cost of living crisis where this 0:01:30.720 --> 0:01:34.720 meager amount will be eroded by bracket creep within two 0:01:34.880 --> 0:01:39.560 years now. We spoke last night about how Costello announced 0:01:39.560 --> 0:01:42.520 a five dollars a week tax cut in two thousand 0:01:42.560 --> 0:01:46.600 and three and at the time his colleague Amanda Anstone 0:01:47.040 --> 0:01:52.040 admitted that it would barely afford a sandwich and a milkshake. Well, 0:01:52.600 --> 0:01:55.320 here were those comments, but. 0:01:55.280 --> 0:01:58.000 The government's sales campaign was not helped by the Family 0:01:58.040 --> 0:02:02.400 and Community Services minister was making a point on welfare payments. 0:02:02.640 --> 0:02:04.720 Of course, you want to give them five dollars more 0:02:05.000 --> 0:02:06.480 five dollars Hell, what will it buy you? 0:02:06.880 --> 0:02:08.400 A sandwich and a milkshake if you're. 0:02:08.320 --> 0:02:12.800 Lucky, a sandwich and a milkshake if you're lucky. 0:02:12.919 --> 0:02:15.160 And that was twenty two years ago. 0:02:15.320 --> 0:02:17.639 Well, since two thousand and three, the cost of food 0:02:17.880 --> 0:02:21.840 and other goods has, of course increased a multitude of times. 0:02:22.120 --> 0:02:26.440 It's my newspapers today described the tax cut as gym 0:02:26.520 --> 0:02:31.799 pickings and Jim's coffee shot and over at the nightly 0:02:32.600 --> 0:02:38.480 five bucks a week Asterix next year. Sometime the Adelaide 0:02:38.520 --> 0:02:42.480 Advertiser went with McHappy Meal Jim, where they said that 0:02:42.520 --> 0:02:45.280 the tax cut was not enough for a macer's meal, 0:02:45.760 --> 0:02:49.360 while they said Pandas at the Zoo got fourteen thousand 0:02:49.440 --> 0:02:52.600 dollars a week. Well, this was a theme that Opposition 0:02:52.720 --> 0:02:54.920 leader Peter Dutton picked up on today. 0:02:56.280 --> 0:03:00.280 Seventy cents a day. I'll, by the way, it's just 0:03:00.320 --> 0:03:02.799 a rounding era for family. Who I think is the 0:03:02.800 --> 0:03:06.120 Adelaide Advertiser point out you can buy a macappy meal. 0:03:07.200 --> 0:03:09.280 I made of mindus texted me and said, you know, 0:03:09.400 --> 0:03:11.440 you paid fourteen dollars I think for two cups of 0:03:11.440 --> 0:03:15.559 coffee yesterday. So look, let's be realistic. This is a 0:03:15.680 --> 0:03:18.240 it's a hoax. It's about the next five weeks, not 0:03:18.280 --> 0:03:21.360 the next five years. And for seventy cents a day, 0:03:21.400 --> 0:03:24.960 it's not going to help families in Labour's cost living crisis. 0:03:26.280 --> 0:03:30.480 But this is all about politics. Labor introduced these tax 0:03:30.520 --> 0:03:33.359 cuts to the Parliament today so that they can then 0:03:33.400 --> 0:03:37.880 claim during the election that the Coalition voted against tax cuts. 0:03:38.360 --> 0:03:39.520 Now, of course this is. 0:03:39.440 --> 0:03:42.920 A political gimmicker trick because the Coalition is likely to 0:03:42.960 --> 0:03:45.520 announce their own tax cuts tomorrow night. 0:03:46.360 --> 0:03:48.400 During the budget lock, I've been camber yesterday. 0:03:48.720 --> 0:03:50.640 I spoke to the Treasurer and I put to him 0:03:51.000 --> 0:03:53.680 that this budget was all about the campaign. 0:03:54.800 --> 0:03:56.520 Treasure thank you so much. Great to see you today. 0:03:56.520 --> 0:03:57.280 Thanks, Sherry, you too. 0:03:57.400 --> 0:04:00.800 This is a highly political pre election budget, isn't it. 0:04:01.280 --> 0:04:01.440 Now. 0:04:01.480 --> 0:04:04.400 This is a budget which recognizes the economic pressures that 0:04:04.440 --> 0:04:07.760 people are facing, cost of living pressures and global economic uncertainty. 0:04:08.080 --> 0:04:10.280 Topping up the tax cuts is an important way that 0:04:10.320 --> 0:04:13.040 we recognize and respond to those cost of living pressures 0:04:13.280 --> 0:04:16.040 in a way that builds people's take home pay over time. 0:04:17.720 --> 0:04:19.919 So he caught it topping up the tax cuts, and 0:04:19.920 --> 0:04:22.960 he did acknowledge that it was immodest. That was his word, 0:04:23.040 --> 0:04:27.000 modest tax cut. He said this was responsible. But then 0:04:27.000 --> 0:04:29.479 he also tried to frame the tax cuts today is 0:04:29.520 --> 0:04:32.040 being worth around fifty dollars. 0:04:33.240 --> 0:04:36.279 The average annual tax cut after this year and next 0:04:36.360 --> 0:04:40.800 years is two five hundred and forty eight dollars, or 0:04:40.839 --> 0:04:43.640 about fifty dollars a week. Well, it's more than that, Sarah. 0:04:43.640 --> 0:04:46.000 That's the first point. If you combine the three tax 0:04:46.040 --> 0:04:48.960 cuts that labor is providing, it's around fifty dollars a week. 0:04:49.120 --> 0:04:51.560 There are two rounds of additional tax cuts, and together 0:04:51.640 --> 0:04:54.000 with the tax cuts which are flowing now, the average 0:04:54.040 --> 0:04:55.480 is about fifty dollars a week. 0:04:57.040 --> 0:04:59.320 Of course, the Coalition today hit back at this. They 0:04:59.320 --> 0:05:02.599 claim that it under them, under the Coalition, that the 0:05:02.600 --> 0:05:06.160 Stage three tax cuts were first announced. Now, my colleague 0:05:06.240 --> 0:05:10.000 Andrew Clenell called the treasure out out on this figure 0:05:10.360 --> 0:05:12.000 during the budget lock up yesterday. 0:05:12.760 --> 0:05:15.760 And so these tax cuts in isolation are relatively modest. 0:05:15.960 --> 0:05:19.240 Found modest, there worth about that much a week. 0:05:19.920 --> 0:05:23.200 In combination, in combination with the tax cuts that we're 0:05:23.200 --> 0:05:25.840 already delivering, the average tax cuts about fifty bucks a week. 0:05:25.920 --> 0:05:30.440 So pineapple, you don't get a pineapple this time. You're 0:05:30.480 --> 0:05:32.880 just you're giving people a cup of coffee a week, 0:05:32.920 --> 0:05:34.920 can't you. Well, this is about topping up the text 0:05:34.960 --> 0:05:37.840 cuts which are flowing already now. 0:05:37.960 --> 0:05:40.520 The other theme that we've all been speaking about is 0:05:40.760 --> 0:05:44.080 the size of the spending in the budget now. As 0:05:44.160 --> 0:05:48.440 Matthew Cranston reported in the Australian newspaper today, Jim Chalmers 0:05:48.480 --> 0:05:52.120 has presided over the biggest deterioration in the country's underlying 0:05:52.120 --> 0:05:56.440 cash balance outside COVID and the global financial crisis, with 0:05:56.560 --> 0:05:59.440 a forty three billion dollar plunge into the red from 0:05:59.480 --> 0:06:03.680 a surplar last year, and the thought of how the 0:06:03.720 --> 0:06:07.640 record winfall from the mining industry, the high commodity prices 0:06:07.720 --> 0:06:10.840 and the record level of tax receipts have been squandered 0:06:11.400 --> 0:06:16.320 is quite concerning. The size of our nation's debt is astonishing. 0:06:17.040 --> 0:06:20.280 It will hit, as you know now, one trillion dollars 0:06:20.640 --> 0:06:25.000 for the first time in Australia's history next financial year, 0:06:25.040 --> 0:06:28.920 one trillion dollars in debt, as I said on Sky 0:06:29.040 --> 0:06:32.280 last night, this is a shocking figure, especially when there's 0:06:32.279 --> 0:06:36.880 no vision or no nation building project to show for it. 0:06:37.480 --> 0:06:40.840 And then you look at why labor is racking up 0:06:40.880 --> 0:06:44.080 this level of debt. Well, one of the most reckless 0:06:44.120 --> 0:06:47.640 wastes of money is to cut twenty percent of all 0:06:47.760 --> 0:06:52.200 student loan debts. This is nineteen billion dollars in debt 0:06:52.520 --> 0:06:56.920 for three million Australians. This is about buying the young vote, 0:06:57.279 --> 0:07:01.120 which has moved away from Labor and towards independent tier 0:07:01.200 --> 0:07:04.480 candidates or minor parties, including the Greens. 0:07:04.920 --> 0:07:07.680 So Albanizy claims he wants to help young. 0:07:07.520 --> 0:07:12.600 Voters, but instead he's saddling our future generations with an 0:07:12.680 --> 0:07:16.640 unprecedented bill to pay. Then there's the thirty three billion 0:07:16.720 --> 0:07:21.440 dollars for a housing fund that still hasn't built a 0:07:21.480 --> 0:07:25.880 single home, And I ask the Treasurer how anyone could 0:07:25.920 --> 0:07:27.920 believe that a house would be built. 0:07:27.920 --> 0:07:29.560 When it hasn't so far. 0:07:31.040 --> 0:07:34.320 On your thirty three billion dollars to deliver one point 0:07:34.400 --> 0:07:38.080 two million dollars one point two million new homes within 0:07:38.360 --> 0:07:40.720 five years by the end of the decade. Doesn't that 0:07:40.760 --> 0:07:45.920 stretch credibility when the existing Future Fund hasn't delivered a 0:07:45.960 --> 0:07:49.440 single house, The existing Housing Australia Fund hasn't delivered a 0:07:49.480 --> 0:07:50.239 single new house. 0:07:50.440 --> 0:07:52.960 It's an ambitious goal, but it's achievable if everybody does 0:07:53.000 --> 0:07:54.960 their bit. And what the budget shows is that we're 0:07:54.960 --> 0:07:57.720 prepared to do our bit. Thirty three billion dollars an investment, 0:07:58.080 --> 0:08:02.000 including some initiatives budget for the first time in this budget. 0:08:02.520 --> 0:08:04.760 We need one point two million homes in five years. 0:08:04.760 --> 0:08:06.480 Well, we're only at the start of that five year 0:08:06.520 --> 0:08:09.440 period and we will do everything we can to hit 0:08:09.480 --> 0:08:11.440 that target because we want to make sure that there 0:08:11.440 --> 0:08:14.200 are more homes for Australians to rent and buy. 0:08:14.440 --> 0:08:18.080 And that's the motivation for Aerfit Now that's outside of 0:08:18.120 --> 0:08:20.720 his control. But the Housing ministers have a lot to 0:08:20.920 --> 0:08:24.120 answer for here, so does the Prime Minister. And there's 0:08:24.160 --> 0:08:27.120 been criticism today across the board that there hasn't been 0:08:27.160 --> 0:08:31.280 any serious attempt to rein in spending or tackle the 0:08:31.280 --> 0:08:35.720 sustainability of bloated schemes that are blowing out. The NDIS 0:08:35.840 --> 0:08:37.880 is the most obvious example. 0:08:38.600 --> 0:08:38.760 Now. 0:08:38.920 --> 0:08:42.360 Spending in the budget runs to fifty billion dollars more 0:08:42.480 --> 0:08:46.480 per year than the country is collecting in tax and 0:08:46.520 --> 0:08:49.559 it seems like the Albaneze government has given up on 0:08:49.679 --> 0:08:52.200 a balanced budget at least for the time being, at 0:08:52.320 --> 0:08:53.120 least to. 0:08:53.120 --> 0:08:53.920 Win this election. 0:08:54.720 --> 0:08:57.319 But what is the plan if there's an economic downturn 0:08:57.880 --> 0:09:02.200 or international shock with this current level of borrowing and 0:09:02.480 --> 0:09:06.559 the Treasurer has warned about global volatility and as others 0:09:06.559 --> 0:09:09.840 have pointed out, debt is so high that we'll be paying. 0:09:09.559 --> 0:09:11.360 Forty eight billion dollars in. 0:09:11.200 --> 0:09:15.960 Interest in four years time, the seventh highest item in 0:09:16.040 --> 0:09:19.520 spending into the budget, and it's been reported that it's 0:09:19.520 --> 0:09:25.720 set to soon eclipse Medicare outgoings. Now Peter Dutton hasn't 0:09:26.080 --> 0:09:28.839 made this very clear as yet, we might see it 0:09:28.920 --> 0:09:32.600 tomorrow night, but he appears to be promising a more 0:09:32.679 --> 0:09:34.240 fiscally conservative approach. 0:09:35.520 --> 0:09:37.840 This is the Treasurer now who will deliver a trillion 0:09:37.880 --> 0:09:40.400 dollars worth of debt to the istral and public, which 0:09:40.440 --> 0:09:43.920 is a terrible legacy, but an expected one from Labor government. 0:09:45.440 --> 0:09:49.440 So we'll need to see tomorrow night exactly what the 0:09:49.440 --> 0:09:53.400 figures are under the coalition's proposed plan. Now, Jim Chalmers 0:09:53.440 --> 0:09:56.360 is right that he didn't spend the higher than expected 0:09:56.400 --> 0:10:00.600 revenue from commodity prices and tax receipts. But then Peter 0:10:00.679 --> 0:10:03.640 Darton made the point that Labour's first two surplaces were 0:10:03.679 --> 0:10:07.400 delivered partly because the Coalition had done some of the 0:10:07.440 --> 0:10:10.480 hard work, and that is to Josh Fridenberg's credit. 0:10:11.120 --> 0:10:13.640 But the Coalition can't go to an. 0:10:13.520 --> 0:10:18.920 Election opposing tax cuts. That is electoral suicide. Now, they've 0:10:18.960 --> 0:10:21.600 long signaled that they are going to bring tax relief 0:10:22.040 --> 0:10:24.559 and it will now need to be more substantial than 0:10:24.640 --> 0:10:28.760 Labour's modest five dollars a week cuts, but the Coalition 0:10:28.880 --> 0:10:31.720 needs to pay for it. So the Coalition claims to 0:10:31.720 --> 0:10:35.280 be the party of better and more responsible economic management, 0:10:35.920 --> 0:10:39.160 So if they're going to offer more generous tax cuts, 0:10:39.679 --> 0:10:42.680 they will need to balance the books and show how 0:10:42.800 --> 0:10:46.200 they'll pay for it. They've criticized Labor for announcing some 0:10:46.880 --> 0:10:50.760 sixty seven billion dollars in new spending measures over the 0:10:50.800 --> 0:10:55.440 past three months alone, but much of these promises they've matched. 0:10:56.040 --> 0:10:58.920 So the danger for the coalition will be in wanting 0:10:58.960 --> 0:11:03.439 to match these popular measures dollar for dollar. Labour has 0:11:03.480 --> 0:11:06.400 now used the budget as the start of their election campaign. 0:11:06.800 --> 0:11:09.280 This is the basis they'll use to argue for a 0:11:09.320 --> 0:11:13.280 second term in office. But there's no vision for Australia 0:11:13.760 --> 0:11:17.360 or for our future. It's all about buying the election. 0:11:21.559 --> 0:11:24.520 Okay for more budget reaction. Now, let's bring in the 0:11:24.520 --> 0:11:27.840 former President to the Victorian Liberal Party, Michael Kroeger and 0:11:27.920 --> 0:11:30.120 former Labor Minister Gray and Richardson. 0:11:30.280 --> 0:11:31.240 Welcome to you both. 0:11:31.800 --> 0:11:35.000 Michael, I just want to get your reaction to the budget, 0:11:35.559 --> 0:11:36.360 the debt, the. 0:11:36.360 --> 0:11:39.720 Deficits, the spending. What is it that concerns you the most? 0:11:39.920 --> 0:11:43.000 Or maybe the lack of vision for the nation's future, 0:11:43.040 --> 0:11:45.959 the fact that Albaneze is going to this election without 0:11:46.120 --> 0:11:49.600 any plan for the future, without any vision for how 0:11:49.640 --> 0:11:50.959 he wants our nation to become. 0:11:53.679 --> 0:11:57.160 Well, we've only got an hour. Shari so you know, 0:11:57.320 --> 0:11:59.000 I'll have to be I'll have to be brief. But 0:12:00.040 --> 0:12:02.839 what you've got is Jim Chalmers, who's just a fantasist. 0:12:03.600 --> 0:12:05.800 I mean, he believes in the tooth fairy. This bloke, 0:12:06.200 --> 0:12:08.959 he's Andrew Boths just mentioned this. He said on Radio 0:12:09.000 --> 0:12:11.920 National this morning that gross said is one hundred and 0:12:11.920 --> 0:12:17.240 seventy seven billion dollars lower than when he came to office. 0:12:18.559 --> 0:12:20.040 The truth matter is, if you have look at the 0:12:20.080 --> 0:12:24.400 budget papers, the budgety Aggar, it's page fifty eight, Appendix A, 0:12:24.520 --> 0:12:28.440 it's fifty one billion dollars higher than when he came 0:12:28.480 --> 0:12:31.880 to office, nine forty as opposed to eight eighty nine. 0:12:33.640 --> 0:12:38.040 He's out by two hundred and twenty eight billion. This bloke. 0:12:38.160 --> 0:12:40.360 Just if you listen to his interviews, he throws in 0:12:40.440 --> 0:12:45.080 these fantastic figures, platitudes that political journalists still mainly doing 0:12:45.120 --> 0:12:47.960 the interviewing, can't pick him up on, and he just 0:12:48.040 --> 0:12:50.240 moves on to the next thing without being fact checked. 0:12:51.440 --> 0:12:54.200 He just makes these figures up. He's not across the detail. 0:12:54.320 --> 0:12:58.760 He's a good salesman because he's very clever, but he's 0:12:58.800 --> 0:13:04.120 a fantasist. And what worries me the most unconstrained debt 0:13:04.640 --> 0:13:07.600 from a treasurer who has exploded public spending, who is 0:13:07.679 --> 0:13:12.319 out of his depth, who doesn't have the intellectual capacity 0:13:13.040 --> 0:13:16.480 to properly run a budget, and he criticizes Angus Taylor. 0:13:16.559 --> 0:13:18.959 I think Angus is a Rhodes scholar ym I don't 0:13:18.960 --> 0:13:20.080 think I'd be criticizing him. 0:13:20.120 --> 0:13:24.040 Mate, Well, rich O, what do you think about how 0:13:24.080 --> 0:13:27.560 this from a political perspective, how this budget will be received? 0:13:29.320 --> 0:13:31.960 I think their budget will be received all right. I 0:13:32.000 --> 0:13:34.920 think that the kind of arguments that Michael's running aren't 0:13:34.960 --> 0:13:38.000 running in the ordinary Australians, as they said around the 0:13:38.080 --> 0:13:46.000 dinner table. So I just think people have great, healthy 0:13:46.080 --> 0:13:50.880 disrespect for politicians in some respects, and they'll just maintain that. 0:13:51.400 --> 0:13:54.359 They'll sit back and they'll say, well, these are politicians. 0:13:54.360 --> 0:13:56.720 What do you expect they say the same if the 0:13:56.760 --> 0:14:00.800 Liberals were in power. And I don't blame them. I mean, 0:14:02.200 --> 0:14:04.040 if you have a look at the record, you can 0:14:04.120 --> 0:14:08.160 understand Australian is getting a little bit tired of hearing 0:14:08.200 --> 0:14:12.680 the same old line from either side when the reality 0:14:12.800 --> 0:14:14.280 is they know it's not going to happen. 0:14:17.080 --> 0:14:18.520 I just want to I meant to pick up something 0:14:18.520 --> 0:14:22.120 you said there before, Michael, about the level of debt. 0:14:22.200 --> 0:14:25.200 So I suppose what the treasure is saying is that 0:14:25.800 --> 0:14:31.080 the level of debt now that's nine hundred and nine 0:14:31.200 --> 0:14:34.240 hundred and forty billion dollars this year is lower than 0:14:34.280 --> 0:14:37.280 what was forecast a few years ago. I heard Chris 0:14:37.320 --> 0:14:40.080 cann you go through this earlier tonight as well. 0:14:40.120 --> 0:14:44.720 But reaching one, that's that's not what he said. That's 0:14:44.720 --> 0:14:48.040 not what he said. He said quite his exact words. 0:14:48.320 --> 0:14:51.880 He said, gross debt when we came to office this 0:14:52.000 --> 0:14:54.800 year is one hundred and seventy seven billion dollars lower 0:14:54.840 --> 0:14:56.240 than when we came to office. 0:14:56.320 --> 0:14:57.560 Yeah, yeah, that's insane point. 0:14:57.920 --> 0:15:00.720 Chris Kenny went through these figures earlier tonight. He's saying 0:15:01.120 --> 0:15:03.200 that the debt level they have is one hundred and 0:15:03.240 --> 0:15:05.560 seventy seven billion dollars less than what was forecast in 0:15:05.600 --> 0:15:07.760 the budget papers at the time. But my point is 0:15:07.800 --> 0:15:10.840 it's kind of irrelevant because Australia will hit a trillion 0:15:10.880 --> 0:15:15.920 dollars in debt for the first time ever next year, presuming. 0:15:15.480 --> 0:15:17.800 Those forecasts are accurate, which. 0:15:17.600 --> 0:15:21.440 Is extremely concerning because it doesn't seem like there's any 0:15:21.680 --> 0:15:23.080 concern for budget repair. 0:15:23.120 --> 0:15:24.600 It's all about winning the election. 0:15:25.360 --> 0:15:27.640 Here was Pete Stefanovic speaking about this with the Prime 0:15:27.680 --> 0:15:28.840 Minister earlier today. 0:15:30.160 --> 0:15:33.000 Are you making things harder for the next generation? For 0:15:33.080 --> 0:15:36.840 this short term ism? 0:15:37.000 --> 0:15:42.440 Pete, there's nothing other than long term objective. By turning 0:15:42.440 --> 0:15:45.680 a seventy eight billion dollar deficit into a surplus, which 0:15:45.720 --> 0:15:48.720 is what we did, delivering another surplus, which is what 0:15:48.800 --> 0:15:49.440 we did. 0:15:49.640 --> 0:15:50.800 You don't have those anymore. 0:15:50.800 --> 0:15:55.800 Now we're about to deficit almost. We are almost. We 0:15:55.920 --> 0:16:00.320 have almost halved the deficit that we inherited, that was 0:16:00.320 --> 0:16:04.520 predicted and foreshadowed in the twenty twenty two budget. 0:16:06.360 --> 0:16:08.520 And so let's now have a look at some of 0:16:08.560 --> 0:16:12.120 the reactions for how people responded to what is now 0:16:12.200 --> 0:16:14.400 being called a five dollars a week tax cut. 0:16:14.400 --> 0:16:14.880 Have a look. 0:16:21.000 --> 0:16:23.760 Have we got these comments coming? Maybe we'll come back 0:16:23.800 --> 0:16:25.680 to them. Okay, let's have a look. 0:16:25.720 --> 0:16:25.920 Now. 0:16:26.600 --> 0:16:27.680 Five dollars is nothing. 0:16:28.200 --> 0:16:30.920 Would it sway you at all to vote for labor on. 0:16:30.840 --> 0:16:31.760 Top of everything else? 0:16:32.080 --> 0:16:32.560 Probably not. 0:16:32.960 --> 0:16:35.120 It might be a cappuccino or something like that though 0:16:35.120 --> 0:16:39.200 I could save on, but in general probably not. 0:16:39.200 --> 0:16:39.320 Not. 0:16:39.360 --> 0:16:43.040 Really five dollars a week, would it, I guess, convince 0:16:43.120 --> 0:16:44.000 you to vote for labor? 0:16:44.280 --> 0:16:47.080 Not really, Michael. 0:16:47.160 --> 0:16:49.560 I think the trick that Labor played today where they 0:16:49.680 --> 0:16:52.600 put this to the Parliament knowing the Coalition was going 0:16:52.600 --> 0:16:55.400 to vote against the tax cuts. They'll now go during 0:16:55.400 --> 0:16:57.880 the election campaign and say, well, the coalition voted against 0:16:57.920 --> 0:16:58.400 tax cuts. 0:16:58.400 --> 0:16:59.720 That'll be their line, won't it. 0:17:01.880 --> 0:17:04.679 Well, unless Peter Dutton announces bigger task cuts tomorrow night. 0:17:05.880 --> 0:17:08.200 But to do that, of course he's got to find 0:17:08.200 --> 0:17:11.520 saving elsewhere. But Charri, this is this is we're going 0:17:11.560 --> 0:17:13.800 down a well worn path here in Australian politics, which 0:17:13.800 --> 0:17:17.200 has been happening most of my political life. Labour can't 0:17:17.200 --> 0:17:20.040 control this spending. They explode the budget, they plunge the 0:17:20.560 --> 0:17:25.840 state or federal governments into debt crisis. The Liberal Party 0:17:25.840 --> 0:17:27.640 then said has to come and clean up the mess 0:17:27.680 --> 0:17:29.800 left by Labor, and Labor say, you've got all these 0:17:29.880 --> 0:17:32.480 secret cuts, the secrets cuts coming. No one likes cuts, 0:17:32.480 --> 0:17:36.280 everyone likes handouts from governments. And so this cycle continues, 0:17:36.520 --> 0:17:39.719 and and you know it's it's hard to win an 0:17:39.720 --> 0:17:43.120 election politically when you're trying to make savings, when people 0:17:43.160 --> 0:17:45.399 are used to government large s and people think, oh, 0:17:45.440 --> 0:17:47.200 the budget death is nothing to do with me. Someone 0:17:47.200 --> 0:17:50.000 else round it up, not me. So Labor have been 0:17:50.119 --> 0:17:53.120 very clever in the last few decades creating this view 0:17:53.160 --> 0:17:57.080 that you know, increased debt doesn't matter. Well as you say, 0:17:57.080 --> 0:18:00.520 we're heading to a trillion dollars. You know, he talks 0:18:00.520 --> 0:18:03.200 to Swarny about surpluses. There's one hundred and fifty billion 0:18:03.240 --> 0:18:05.679 dollars plus of deficits coming in the next four years. 0:18:05.720 --> 0:18:08.359 I mean, seriously, I mean, this is we're in a 0:18:08.359 --> 0:18:12.159 budget crisis now. But fantasist Jim thinks we're living in 0:18:12.200 --> 0:18:13.640 the land of milk and honey. 0:18:15.680 --> 0:18:15.960 Rich O. 0:18:16.280 --> 0:18:19.040 You know, clearly labor's trying to buy the young vote 0:18:19.040 --> 0:18:22.080 with the promise to pay off everyone's. 0:18:21.640 --> 0:18:24.399 Hex debt, all student hex debt, twenty percent of it. 0:18:24.880 --> 0:18:27.520 But you know, when I think older generations, when they 0:18:27.600 --> 0:18:29.959 look at the prospect of more than a trillion dollars 0:18:29.960 --> 0:18:33.960 in debt, and how they saddle the future generations like that. 0:18:34.119 --> 0:18:37.600 We don't know what's coming to our country. Who knows. 0:18:37.640 --> 0:18:40.840 Trump might demand that there's an increase in defense spending 0:18:41.240 --> 0:18:43.800 in return for the orchesteal. There might be a proposition 0:18:43.960 --> 0:18:49.480 like that which requires more money. So it is, you know, fine, 0:18:49.520 --> 0:18:51.240 they're trying to buy the young vote. But then what 0:18:51.359 --> 0:18:54.720 about the rest of Australians who hate this level of debt? 0:18:56.040 --> 0:18:59.359 Yeah, look when you say they hate this level of debt, 0:19:00.080 --> 0:19:03.200 I'm just not sure you're right. I don't walk around 0:19:03.240 --> 0:19:07.520 the place and hear conversations about Australia's debt. I just don't. 0:19:07.960 --> 0:19:12.800 I think we've become accustomed to high debt. I think 0:19:12.880 --> 0:19:15.440 we're inured to it now. I think we just get 0:19:15.520 --> 0:19:18.480 used to it. Lie back and think of England. That's 0:19:18.480 --> 0:19:24.560 basically what we're doing. And I just don't think ordinary 0:19:24.560 --> 0:19:26.600 Australians are as worried as you are. 0:19:27.760 --> 0:19:29.399 Well, I am worried about it. Michael. 0:19:29.400 --> 0:19:31.400 What do you think do you think Australians care about 0:19:31.400 --> 0:19:32.640 a trillion dollars in debt? 0:19:34.600 --> 0:19:35.640 Well, more and more they do. 0:19:35.760 --> 0:19:37.600 When you see that more than thirty billion dollars a 0:19:37.680 --> 0:19:39.760 year is now going to be used in interest payments. 0:19:40.160 --> 0:19:44.960 I mean, the budget deficit is unsustainable. Massively increasing debt 0:19:45.000 --> 0:19:49.280 every year is unsustainable. Sooner or later there has to 0:19:49.320 --> 0:19:52.280 be a day of reckoning. And the problem is that 0:19:52.320 --> 0:19:55.479 it'll be our kids and their kids who are saddled 0:19:55.480 --> 0:19:58.080 with these you know, more than a billion dollars. It's 0:19:58.119 --> 0:20:03.119 one point two trillion in the next decade and more 0:20:03.400 --> 0:20:09.080 so you mestionally increase, you know, debt repayments. Of course 0:20:09.080 --> 0:20:11.480 people get worried about it. Labour says, Oh, I don't 0:20:11.480 --> 0:20:13.479 worry about it. No, I don't worry about it because compared 0:20:13.480 --> 0:20:15.680 to other countries internationally, now WECD, we've got nothing to 0:20:15.720 --> 0:20:18.640 worry about. Well, that's all our answer to everything, which 0:20:18.880 --> 0:20:22.680 it's extremely economically dishonest or it's intellectually dishonest. Don't worry 0:20:22.720 --> 0:20:24.160 about us because the others are worse. 0:20:25.200 --> 0:20:25.359 You know. 0:20:25.440 --> 0:20:27.719 This is their political trick in order to get re elected, 0:20:27.760 --> 0:20:29.680 and it's disgraceful, I. 0:20:29.600 --> 0:20:30.959 Mean, keating. 0:20:31.160 --> 0:20:31.320 You know. 0:20:31.320 --> 0:20:32.800 I read in the paper that he doesn't speak to 0:20:32.880 --> 0:20:37.800 charmers anymore, you know, because anytime Paul talks to Jim, 0:20:37.840 --> 0:20:39.680 it's time Paul won't get back. 0:20:40.960 --> 0:20:43.320 Yeah. I don't know if that. I don't know anything 0:20:43.320 --> 0:20:44.520 about that story, if it's true or not. 0:20:44.520 --> 0:20:46.359 But I read it in Margin Call as well, by 0:20:46.440 --> 0:20:48.000 Yonnie Bashan, who was telling. 0:20:47.840 --> 0:20:48.639 Me about it last night. 0:20:48.680 --> 0:20:51.879 Actually, now I want to turn to this interaction between 0:20:51.960 --> 0:20:55.320 Jackie Lamby and Jane Hume this morning because I was 0:20:55.480 --> 0:20:57.399 genuinely appalled by it. 0:20:57.800 --> 0:21:00.480 Jackie Lamby unleashed a. 0:21:00.560 --> 0:21:04.040 Shocking verbal assault on Liberal Senator Jane Hume. This was 0:21:04.040 --> 0:21:09.040 on Sunrise, completely disgusting behavior from Jackie Lamby. She was 0:21:09.119 --> 0:21:12.360 meant to be speaking about last night's budget, but instead 0:21:12.440 --> 0:21:16.560 turned the whole conversation into an attack on Jane Hume. 0:21:16.640 --> 0:21:20.520 Have a look, are you going. 0:21:20.480 --> 0:21:25.480 To cut the cuts into contract that out again? I 0:21:25.560 --> 0:21:27.640 know what she's talking about, and ask you about your 0:21:27.720 --> 0:21:29.080 public good ideas cuts. 0:21:29.160 --> 0:21:31.320 I have a very good idea what she's talking about, 0:21:31.320 --> 0:21:34.320 because the cold one of the coalition's policies seems to 0:21:34.359 --> 0:21:42.600 be to cut public servants by tens of thousands there 0:21:42.720 --> 0:21:45.840 in Queensland and Victoria regional centers. 0:21:47.320 --> 0:21:51.000 She even defended the teals on the basis that they 0:21:51.000 --> 0:21:54.600 were female while she was attacking a woman, and you know, 0:21:55.080 --> 0:21:59.320