WEBVTT - Paul Murray Live | 18 June 0:00:00.160 --> 0:00:06.920 From the Sky Center. This is Paul Murray live. Say 0:00:07.040 --> 0:00:11.920 gang the airbus Albo doesn't meet Trump's story? Who thought 0:00:12.000 --> 0:00:17.000 there was another chapter? But there is a little attention 0:00:17.160 --> 0:00:21.200 to detail. Will also tell us that maybe, just maybe 0:00:21.200 --> 0:00:23.239 he didn't have to leave the G seven in the 0:00:23.280 --> 0:00:26.280 fashion in which he said he did. Now, as you know, 0:00:27.760 --> 0:00:31.120 President Trump was there with the other world leaders, but 0:00:31.200 --> 0:00:35.280 today it was the kids table. Chance to stand out 0:00:35.280 --> 0:00:37.680 there with the rest of the world leaders, minus the 0:00:37.680 --> 0:00:40.280 most important one. And there he is, the Prime Minister, 0:00:40.400 --> 0:00:44.640 smiling politely about Oh where are you from? Oh? Hello 0:00:44.800 --> 0:00:48.360 him from Australia. Oh get, I'll get a flat. How 0:00:48.440 --> 0:00:51.839 are you know? You know, just as here I am. 0:00:51.880 --> 0:00:53.960 I know everyone, and I'm so comfortable in the world 0:00:53.960 --> 0:00:57.520 stage radio. But of course the main game had already 0:00:57.560 --> 0:00:59.440 moved on President of the United States. So it was 0:00:59.440 --> 0:01:02.720 supposed to be the again today basically the first half. 0:01:02.760 --> 0:01:05.640 It's only two days. One day was the seven most 0:01:05.680 --> 0:01:08.560 important countries in the world according to that grouping. Of 0:01:08.600 --> 0:01:11.760 course China and Russia not part of that. Then of 0:01:11.800 --> 0:01:14.960 course the B team, the kid's table, who weren't even 0:01:15.000 --> 0:01:18.759 allowed to dine with those main leaders last night, Well, 0:01:19.880 --> 0:01:22.840 they had their moment today. Now I know you know 0:01:22.880 --> 0:01:24.760 all of this, right, but I'm telling you tonight there's 0:01:24.760 --> 0:01:27.720 some new detail worth talking about here. There's some extra 0:01:27.840 --> 0:01:32.279 detail that, under the cover of football and the fog 0:01:32.280 --> 0:01:35.639 of war, that we probably should take a moment because 0:01:35.680 --> 0:01:37.520 I know that in the end the left of the 0:01:37.520 --> 0:01:40.080 ones who at this point in time are in charge 0:01:40.080 --> 0:01:44.200 of almost everything, which means anything other than everything is 0:01:44.240 --> 0:01:46.720 okay will be wiped from the record. But you, by 0:01:46.760 --> 0:01:50.559 sitting here this hour, this night, are able to learn 0:01:50.640 --> 0:01:53.680 something that they will all pretend does not exist by 0:01:53.680 --> 0:01:57.680 this time tomorrow. Today Labor Party people had to go 0:01:57.720 --> 0:01:59.920 around and tell us everything's fine. There was starting person 0:02:00.360 --> 0:02:03.600 or nothing at all about the idea that the President 0:02:03.640 --> 0:02:06.160 of the United States didn't just blow off the meeting 0:02:06.240 --> 0:02:09.040 with the Australian Prime Minister. But of course, even when 0:02:09.080 --> 0:02:11.160 on the same day he had blown off a meeting 0:02:11.200 --> 0:02:13.919 which was supposed to happen to day with the Mexican president, 0:02:14.160 --> 0:02:17.880 he called the Mexican president during the multiplower flight from 0:02:17.960 --> 0:02:22.600 Canada to Washington, d C. Australia not on the list. 0:02:23.160 --> 0:02:24.359 So he was the spin today. 0:02:25.560 --> 0:02:29.000 And this was always a chance of happening, given what's 0:02:29.000 --> 0:02:31.160 happening around the world and particularly in the Middle East. 0:02:31.200 --> 0:02:35.440 It's completely understandable that the US President would be returning 0:02:35.520 --> 0:02:36.959 to Washington, d C. 0:02:37.160 --> 0:02:37.760 To deal with that. 0:02:39.000 --> 0:02:40.840 We shouldn't be reading more into it than that. 0:02:41.760 --> 0:02:46.359 Oh, let's enjoy Richard Miles specifically though, Now that was 0:02:46.440 --> 0:02:47.880 him once he was sort of out and about, but 0:02:47.960 --> 0:02:52.560 this morning he was here having a conversation on Sky 0:02:52.639 --> 0:02:57.200 News this morning. Questions are clear answer, nothing to see here. 0:02:58.360 --> 0:03:01.280 Has there been any indication from Israel that there may 0:03:01.360 --> 0:03:04.680 be a window opening soon for flights out of Israel? 0:03:05.919 --> 0:03:10.079 Look, I'm not in a position to give a definitive 0:03:10.120 --> 0:03:11.600 answer in relation to any of that. 0:03:11.800 --> 0:03:14.280 Is this an indication that the US is prepping for 0:03:14.320 --> 0:03:15.920 a strike against Iran? 0:03:16.800 --> 0:03:19.880 Well, obviously I'm not about to speculate on what America 0:03:19.960 --> 0:03:22.040 is going to do, and I'm certainly not a spokesperson 0:03:22.120 --> 0:03:23.680 for the US government. 0:03:23.880 --> 0:03:26.200 Has the Prime Minister just avoided having to try to 0:03:26.400 --> 0:03:29.919 justify America giving US nuclear submarines out of its own 0:03:30.000 --> 0:03:34.320 navy fleet and thereby weakening itself to strengthen Australia when Australia, 0:03:34.360 --> 0:03:37.560 and Trump's view, is not spending enough to look after 0:03:37.640 --> 0:03:38.400 our own defense. 0:03:40.000 --> 0:03:41.120 Well, there's a lot in that question. 0:03:41.200 --> 0:03:44.040 Do you expect that he will recommend Australia to increase 0:03:44.200 --> 0:03:46.120 defense spending as well during that meeting? 0:03:47.320 --> 0:03:50.280 Look, I think there's a lot which has talked about 0:03:50.320 --> 0:03:51.000 in relation to. 0:03:51.360 --> 0:03:54.400 Has China indicated yet that they will be sending warships 0:03:54.400 --> 0:03:57.680 to our region to monitor the exercise? Talisman Saber? 0:03:58.640 --> 0:04:00.680 Well, it's not going to surprise you. Well, I say 0:04:00.720 --> 0:04:04.320 that China don't forecast any of that to us in advance. 0:04:04.320 --> 0:04:06.680 Do you expect there's a chance that China will conduct 0:04:06.720 --> 0:04:08.440 its own exercises next month? 0:04:09.920 --> 0:04:13.600 Well, again, I'm not about to speculate on any of that. 0:04:14.440 --> 0:04:18.080 Is it over? Is it over yet? Has he finished? 0:04:20.720 --> 0:04:23.360 Questions were clear, he could wouldn't go anywhere near it, 0:04:23.400 --> 0:04:26.160 But such his life. Oh, that only happened on sky. 0:04:26.200 --> 0:04:29.080 I don't worry about it. Nobody was able to remember 0:04:29.120 --> 0:04:33.400 what happened. Please please, But the two bits of detail 0:04:33.400 --> 0:04:36.120 that I really want you to see tonight is what 0:04:36.240 --> 0:04:39.000 about the prominence? Now again, I stand by for those 0:04:39.040 --> 0:04:43.040 that are half paying attention, for those that are looking 0:04:43.279 --> 0:04:46.400 for some reason to put me on a pilot, people 0:04:46.440 --> 0:04:49.360 who don't understand what's going on. I hope Australia has 0:04:49.400 --> 0:04:52.480 a meeting. Whenever it happens, I hope it's positive. I 0:04:52.600 --> 0:04:55.320 certainly hope that the current Prime Minister, who yes I 0:04:55.320 --> 0:04:57.040 didn't vote for but still we deal with for the 0:04:57.120 --> 0:04:59.400 next three years, is able to form some sort of 0:04:59.400 --> 0:05:02.159 a personal life relationship that means we're able to start 0:05:02.200 --> 0:05:04.719 doing deals, whatever those are big or small. I want 0:05:04.760 --> 0:05:07.840 that to take place. But don't you just love the 0:05:07.839 --> 0:05:10.279 face saving. The face saving that was there for the 0:05:10.279 --> 0:05:13.160 Prime minister today. Remember, I'm off to the G seven 0:05:13.240 --> 0:05:15.839 to meet the President of the United States. Reality, I 0:05:15.960 --> 0:05:18.280 didn't have dinner with him because he was with more 0:05:18.320 --> 0:05:22.000 important world leaders. I was at the kids table, and 0:05:22.040 --> 0:05:26.159 today I got to meet other second and third class 0:05:26.200 --> 0:05:28.640 world leaders and then have her listen to what he 0:05:28.720 --> 0:05:31.800 throws in at the end to make it seem like, oh, 0:05:31.839 --> 0:05:33.200 and I know everybody else. 0:05:35.000 --> 0:05:39.400 I had discussions with President mccron of France, Prime Minister 0:05:39.480 --> 0:05:43.719 Modi of India, Prime Minister Ramoposa of South Africa, Prime 0:05:43.760 --> 0:05:49.880 Minister Shinbaum of Mexico, Prime Minister Maloney of Italy, as 0:05:49.880 --> 0:05:53.240 well as saying gooday to a whole bunch of other 0:05:53.320 --> 0:05:58.360 people during the day. 0:05:58.400 --> 0:06:02.320 Seriously, I met this one and this one and this one, 0:06:02.400 --> 0:06:05.560 and then I said good aid to people. Well, by 0:06:05.600 --> 0:06:09.599 that logic, I must have a thousand best friends, because 0:06:09.600 --> 0:06:11.560 when I walk in and out of Bunnings, I say 0:06:11.560 --> 0:06:15.480 good aid to people, they may or may not wave back. 0:06:16.680 --> 0:06:19.039 When I go to the shops, mate, how are you? 0:06:20.240 --> 0:06:22.840 When I'm hanging out with Asher and Zadi and they 0:06:22.880 --> 0:06:24.800 love this. When I just start randomly talking to other 0:06:24.800 --> 0:06:27.960 members of the public, get a oh, they're all my friends. 0:06:28.000 --> 0:06:33.480 Now according to this global level of leader interaction, because 0:06:33.480 --> 0:06:35.559 we're going to make it look like, oh, it doesn't matter. 0:06:35.800 --> 0:06:39.680 We were dumped. And again I repeat, I understand he 0:06:39.760 --> 0:06:41.359 had to get out of Dodge. Why because it was 0:06:41.440 --> 0:06:43.160 very serious things he had to deal with. We all 0:06:43.160 --> 0:06:49.039 know what's been happening in between Israel and Iran. But again, 0:06:49.440 --> 0:06:52.520 another little bit of detail I want you to learn about. Again, 0:06:52.560 --> 0:06:55.000 all of this will be brushed from the record. It 0:06:55.040 --> 0:06:57.839 will not exist anywhere. It will be a fever dream 0:06:57.839 --> 0:07:02.240 in our minds. Now, remember when we were told that, 0:07:02.360 --> 0:07:06.160 of course Trump absolutely number one reason he had to 0:07:06.200 --> 0:07:09.039 get back to the White House was not because he 0:07:09.160 --> 0:07:11.000 was over and he'd had enough of mccron. He was 0:07:11.040 --> 0:07:13.440 not going to meet the B team. Not only had 0:07:13.440 --> 0:07:15.640 to get back, why because of the beginning the cusp 0:07:15.680 --> 0:07:18.480 of World War three? And yes that might be so 0:07:18.680 --> 0:07:20.400 that that was the first thing he did, was running 0:07:20.400 --> 0:07:23.120 into the situation room. But it wasn't the only thing 0:07:23.200 --> 0:07:26.800 he did yesterday. Exactly in and around the time that 0:07:26.840 --> 0:07:29.920 he would have been meeting with the Australian Prime Minister, 0:07:30.880 --> 0:07:34.200 we learned that Donald Trump was doing something he considered 0:07:34.240 --> 0:07:36.240 to be more important than meeting the Australian Prime ministert 0:07:36.240 --> 0:07:40.960 Anthony Uneasy, and that was inspecting not one, but two 0:07:41.040 --> 0:07:44.960 new flag poles that he himself, as a personal citizen, 0:07:45.560 --> 0:07:48.000 is going to donate to the White House so the 0:07:48.080 --> 0:07:53.680 American flag will be visible from the public streets. And 0:07:53.800 --> 0:07:57.240 while the President had no time to meet the Australian 0:07:57.280 --> 0:08:03.400 Prime Minister, who's saying geta to other world leaders. This 0:08:03.520 --> 0:08:07.720 came out. This came out at ten to twenty Australian 0:08:07.960 --> 0:08:13.360 time today, so that was about six ish American time. 0:08:13.640 --> 0:08:15.840 He would have already met the Prime minister, but there 0:08:15.880 --> 0:08:18.080 was no time for that. Instead, these are the most 0:08:18.120 --> 0:08:23.960 magnificent poles made. They are tall, tapered rustproof rope inside 0:08:23.960 --> 0:08:28.040 the pole and the highest quality. Now I'm glad that 0:08:28.120 --> 0:08:31.680 he's been able to give that gift. But again, if 0:08:31.680 --> 0:08:33.480 we were told the reason I've absolutely got to go 0:08:33.559 --> 0:08:36.120 is because I'm one hundred percent focused on potentially World 0:08:36.120 --> 0:08:40.840 War three. But in the middle of that, I've got 0:08:40.880 --> 0:08:42.160 a bit of time for what he's going to be 0:08:42.160 --> 0:08:43.760 a lovely gift to the White House. They've been a 0:08:43.800 --> 0:08:46.680 couple of poles. It may be just maybe and given 0:08:46.679 --> 0:08:49.120 them we're now what a couple of days in between 0:08:49.160 --> 0:08:53.240 the urgent run out of the meeting and nothing taking 0:08:53.240 --> 0:08:56.600 place to this point in time, that maybe, just maybe 0:08:56.640 --> 0:08:59.120 he was done with it. Maybe just maybe he saw 0:08:59.160 --> 0:09:03.720 that on the call sheet was, among others, some guy 0:09:03.760 --> 0:09:07.280 from Australia. Do I have to see the guy from Australia. 0:09:07.320 --> 0:09:08.600 Oh yeah, he's the one who said he was what 0:09:09.480 --> 0:09:15.920 oh s scared of me? Okay, no, But don't worry. 0:09:16.080 --> 0:09:18.160 There's a chance that the media may well eventually get 0:09:18.200 --> 0:09:19.880 what they want, which is this meeting of which we 0:09:19.920 --> 0:09:22.840 could ask difficult questions of the President of the United 0:09:22.880 --> 0:09:25.480 States to try to play into the American news cycle, 0:09:25.720 --> 0:09:27.760 of which Anthony Abernezi will be able to make some 0:09:27.800 --> 0:09:31.800 passive aggressive comments. Because I'm standing up for Australia's rights. 0:09:31.960 --> 0:09:33.920 You know, we will show far more balls at his 0:09:34.040 --> 0:09:36.240 meeting with the President of the United States than he would, 0:09:36.280 --> 0:09:38.400 of course in the boot looking exercise with the president 0:09:38.440 --> 0:09:44.240 of China, because he's managing the relationship well. According to 0:09:44.440 --> 0:09:46.480 people that are in and around where the Prime Minister 0:09:46.559 --> 0:09:49.600 is right now in Canada, there's a chance he might 0:09:49.640 --> 0:09:51.880 put himself through this whole nonsense again in about a 0:09:51.880 --> 0:09:55.320 week's time again. Like I'm mucking around here, I'm laughing 0:09:55.320 --> 0:09:57.720 at these people, but obviously I want a meeting. I 0:09:57.720 --> 0:10:01.960 want it to be good. But everyone's spinning here. I 0:10:02.040 --> 0:10:04.000 have to get away because I'm the middle of World 0:10:04.040 --> 0:10:07.760 War three. But look at these flagpoles. I don't know. 0:10:07.840 --> 0:10:09.520 I was busy. I had people to say, get a 0:10:09.640 --> 0:10:13.160 two on the other end of things. A day after 0:10:13.280 --> 0:10:16.360 Albinizi said Defense Minister Richard Marles would be attending the 0:10:16.440 --> 0:10:20.240 NATO summit on Australia's behalf, the Prime Minister has announced 0:10:20.280 --> 0:10:23.520 he may go instead. Why the volatile state of the 0:10:23.559 --> 0:10:29.679 world so yesterday when there had already been fire exchanged 0:10:29.720 --> 0:10:33.160 between Israel Iran Iran Israel, not to mention all of 0:10:33.160 --> 0:10:37.640 the other instabilities of the world. No, No males will 0:10:37.640 --> 0:10:39.240 be going in my place. Why because I want to 0:10:39.240 --> 0:10:41.520 avoid that bloke on Sky and he's calling me airbus Albo. 0:10:42.280 --> 0:10:44.920 But instead, I don't know, sub him out because it's 0:10:44.920 --> 0:10:46.880 a chance for me to get that FaceTime and the 0:10:46.920 --> 0:10:48.480 passive aggressive and all the rest of it and bring 0:10:48.520 --> 0:10:50.640 the media mates with me to talk to Donald Trump. 0:10:51.200 --> 0:10:53.559 Sources said, if a meeting with the President could be 0:10:53.679 --> 0:10:59.680 locked in, he would go. Jeez. Exclusives. Exclusives. Sources say 0:11:00.000 --> 0:11:02.880 if they could organize a meeting, he'd go to the meeting. Okay, thanks, 0:11:03.440 --> 0:11:06.480 there's a lot of conversation happening, says one and again, 0:11:06.480 --> 0:11:08.120 I'm not having a crack at Philip Curiy. I'm having 0:11:08.160 --> 0:11:11.160 a crack at the sources. The White House confirmed two 0:11:11.200 --> 0:11:13.160 weeks ago that Trump will be attending the NATA summit 0:11:13.240 --> 0:11:15.920 Dune twenty four to twenty five, although the State Department 0:11:15.920 --> 0:11:18.959 has warned on Wednesday nothing is certain. Why because of 0:11:19.120 --> 0:11:25.160 the obvious I just love I love the media being 0:11:25.880 --> 0:11:29.959 more upset that they didn't get the chance to play 0:11:29.960 --> 0:11:32.240 their voodoo and all the rest of it on the 0:11:32.280 --> 0:11:35.360 president that they don't like and polish up the Prime 0:11:35.360 --> 0:11:37.840 Minister that they do like. I love that. The Prime 0:11:37.840 --> 0:11:39.960 Minister that we have among other things, says oh, and 0:11:39.960 --> 0:11:42.680 I said good to a lot of people. I'm still 0:11:42.679 --> 0:11:47.480 a world later and the President has to go because 0:11:47.520 --> 0:11:49.800 World War three is on. But in between all of that, 0:11:49.920 --> 0:11:51.920 did you see the flagpiles they bought for the joint 0:11:52.640 --> 0:11:55.719 I love this place, I really do. Now there is 0:11:55.760 --> 0:11:58.600 a chart I have shown you many many times because 0:11:58.640 --> 0:12:03.080 it is the future of the Australian relationship between government 0:12:03.800 --> 0:12:07.880 debt and the future of our country. Now I want 0:12:07.920 --> 0:12:09.600 to keep this up because you've seen it a few times. 0:12:09.720 --> 0:12:11.920 For those who do not remember. If you remember it, though, 0:12:12.240 --> 0:12:15.560 say it along with me. Every single blue line inside 0:12:15.600 --> 0:12:20.480 the red rectangle budget deficits between this year, next year, 0:12:20.520 --> 0:12:23.079 the year after five years, ten years, twenty years, all 0:12:23.120 --> 0:12:27.800 the way to twenty sixty three. Every one of those 0:12:27.840 --> 0:12:30.520 deficits is added on top of the previous one, the 0:12:30.559 --> 0:12:33.400 previous one, the previous one, the previous one, and even 0:12:33.440 --> 0:12:37.000 before this red line starts, where are trillion dollars in debt? 0:12:38.280 --> 0:12:40.440 Just putting a couple of those columns together will get 0:12:40.480 --> 0:12:43.200 us to one and a half trillion eventually two and 0:12:43.400 --> 0:12:47.160 goodness forbid, even further than that. So this matters, right, 0:12:47.200 --> 0:12:50.400 This basically is that the federal budget is structurally spending 0:12:50.400 --> 0:12:52.960 more money than is coming in, even when the population 0:12:53.040 --> 0:12:58.520 will increase to forty million people by the twenty sixties. Well, 0:12:58.600 --> 0:13:04.080 Jim Charmers, fresh the federal election campaign, he was at 0:13:04.080 --> 0:13:07.600 the National Press Club today where he confirmed what I 0:13:07.720 --> 0:13:12.880 have been saying for years, what Treasury confirmed since two 0:13:13.000 --> 0:13:17.240 thousand and twenty three. Oh, but now it's news that 0:13:17.280 --> 0:13:19.600 he's going to admit it. As far away from a 0:13:19.640 --> 0:13:23.880 federal election as possible, he has admitted that his budget 0:13:23.920 --> 0:13:28.320 is not yet sustainable, and it depends on productivity and 0:13:28.440 --> 0:13:34.160 productivity growth. Put simply, it's not sustainable because as the 0:13:34.160 --> 0:13:38.320 population grows, so will the expenses of the federal government. 0:13:38.360 --> 0:13:41.400 But the income to the federal government will not match 0:13:41.440 --> 0:13:44.800 the explosion in spending because they have promised too much 0:13:44.840 --> 0:13:49.280 spending in too many areas, for too many people. He's 0:13:49.320 --> 0:13:52.920 the Treasurer finally admitting what we've known for years but 0:13:52.960 --> 0:13:56.240 have had confirmed by his own treasury. That document I 0:13:56.320 --> 0:14:00.520 show you that graph is from twenty twenty three, so 0:14:00.600 --> 0:14:04.120 before Trump, before a whole bunch of the before what 0:14:04.240 --> 0:14:06.400 was going on in the middle of twenty twenty three. 0:14:07.000 --> 0:14:10.760 The next forty years were screwed. From twenty twenty three. 0:14:10.880 --> 0:14:13.600 Nothing to see here. Everything's also in twenty four. Thanks 0:14:13.600 --> 0:14:16.360 for the reelection in twenty five and now this. 0:14:17.640 --> 0:14:21.160 To deliver higher living standards for our people. We recognize 0:14:21.600 --> 0:14:26.520 three blunt truths. Our budget is stronger, but it's not 0:14:26.600 --> 0:14:31.080 yet sustainable enough. Our economy is growing, but it's not 0:14:31.120 --> 0:14:35.480 productive enough. It is resilient, but it's not resilient enough 0:14:35.640 --> 0:14:38.640 in the face of all of this global economic volatility. 0:14:39.600 --> 0:14:41.560 Now they're not the first, they won't be the last. 0:14:42.560 --> 0:14:45.000 But these people were able to get themselves not just 0:14:45.080 --> 0:14:47.560 re elected, but with a thumper, so much so that 0:14:47.600 --> 0:14:50.760 the opposition that was already behind the eight ball is 0:14:50.840 --> 0:14:56.320 now gasping for a political life. So they are in 0:14:56.360 --> 0:14:58.320 a perfect political position to suggest they're going to be 0:14:58.360 --> 0:15:01.520 around for a very, very long time. But as they 0:15:01.560 --> 0:15:04.160 did with the vote for us and cost of living, 0:15:04.160 --> 0:15:06.480 will we get better? The majority of people fell for 0:15:06.520 --> 0:15:08.960 the lie in twenty two. We told you it was 0:15:09.000 --> 0:15:11.880 a lie. They said it wasn't a lie. The reality 0:15:11.880 --> 0:15:14.720 turned out that it was a lie. We've turned the corner. 0:15:14.760 --> 0:15:19.680 Everything's awesome, everything's okay, we're excellent economic managers. We told 0:15:19.720 --> 0:15:22.240 you it was a lie, but people fell for the lie, 0:15:22.400 --> 0:15:27.640 and now we get proof of the lie being a lie. 0:15:29.320 --> 0:15:33.400 So we get to this scenario about exactly what's going 0:15:33.440 --> 0:15:35.400 to take place. And what is going to take place 0:15:35.560 --> 0:15:39.640 is a thing called tax reform. And I want you 0:15:39.680 --> 0:15:41.440 to hear how many times he said it in the 0:15:41.480 --> 0:15:43.640 speech to make sure that even the idiot right up 0:15:43.680 --> 0:15:47.359 the back was able to learn. Hey, guys, tax reform, tax. 0:15:47.160 --> 0:15:52.600 Reform, tax reform, tax reform, tax reform, tax reform, tax reform, 0:15:52.640 --> 0:15:53.920 tax reform, tax reform. 0:15:54.880 --> 0:15:57.640 Now you may well think tax reform just means cutting 0:15:57.680 --> 0:16:00.280 taxes everywhere. Well, we already know that that has been 0:16:00.280 --> 0:16:02.320 part of the game over the past couple of years. 0:16:02.320 --> 0:16:05.360 But of course, if you rob the government of revenue 0:16:05.840 --> 0:16:08.520 but you continue to increase in spending, then guess what. 0:16:08.600 --> 0:16:12.600 The budget becomes unsustainable. So there's one option, which is 0:16:12.640 --> 0:16:14.600 to cut back the amount that you are spending, but 0:16:14.640 --> 0:16:18.240 of course that would create losers and cuts cuts, cuts, cuts, cuts, cuts, cuts, cuts, 0:16:18.240 --> 0:16:20.080 cuts is sort of the evil uga bug and stuff 0:16:20.160 --> 0:16:23.320 that has very successfully worked against the Liberal Party for 0:16:23.400 --> 0:16:26.520 a couple of elections. Now, so guess what tax reform 0:16:26.600 --> 0:16:31.280 means increasing revenue to the federal government. And you may 0:16:31.320 --> 0:16:33.160 well read and every time you hear that there's not 0:16:33.280 --> 0:16:35.640 enough tax reform, you pretty much now need to read 0:16:36.080 --> 0:16:41.400 that there's not enough plans for increasing revenue. Now, obviously, politically, 0:16:42.000 --> 0:16:44.080 would they ever put up the tax rates on the 0:16:44.160 --> 0:16:47.520 individual worker, remember, the single biggest source of revenue to 0:16:47.560 --> 0:16:51.640 the federal government. Know why because those people vote. But 0:16:51.720 --> 0:16:54.280 of course they're going to go after a certain section 0:16:54.560 --> 0:16:57.200 of those people who may well not traditionally vote for them. 0:16:57.880 --> 0:16:59.840 Or they might go after businesses of which they don't 0:16:59.840 --> 0:17:02.280 care if they hit the wall or not. Because remember 0:17:02.280 --> 0:17:04.280 how many times we talk about the plan is the 0:17:04.320 --> 0:17:08.440 triangle to be dependent via handout, to be dependent because 0:17:08.440 --> 0:17:11.040 you work for them, or to be dependent if government 0:17:11.119 --> 0:17:14.000 is your biggest customer. This gets into sixty seventy percent 0:17:14.040 --> 0:17:16.919 of the population. Look at what Andrews and Alan have 0:17:16.960 --> 0:17:21.520 done in Victoria, what Palichet until recently had done in Queensland. 0:17:23.440 --> 0:17:27.680 See how people don't rock the boat. Well. Ken Henry 0:17:28.119 --> 0:17:32.480 is a man who was hired by the Rudgun to do, 0:17:32.600 --> 0:17:34.960 among other things, a full root and branch review of 0:17:34.960 --> 0:17:38.239 the tax system. He of course has come in and 0:17:38.240 --> 0:17:43.480 out of well plenty of corporate jobs, but the media 0:17:43.560 --> 0:17:45.640 often turned to him as the guy who did the 0:17:45.800 --> 0:17:50.640 tax reform review. The tax review so interestingly in a review. 0:17:50.760 --> 0:17:53.400 In a interview with the Australian Financial Review, Ken Henry 0:17:54.160 --> 0:17:56.080 is kind of starting to build the cat about what 0:17:56.200 --> 0:18:01.040 tax reform would actually mean. Can I read this to you? 0:18:02.080 --> 0:18:05.280 At some point, the rate of the GST is going 0:18:05.320 --> 0:18:08.439 to have to be increased. Okay, So the GST is 0:18:08.480 --> 0:18:08.840 going to. 0:18:08.760 --> 0:18:09.280 Go up. 0:18:10.920 --> 0:18:12.760 And its base is going to have to be broad 0:18:12.800 --> 0:18:16.800 and meaning more things, more things. I'm just running on 0:18:16.880 --> 0:18:20.800 this down in GST. You know, it's like fresh food 0:18:22.400 --> 0:18:24.440 revenue is not a problem. If you want to boost 0:18:24.480 --> 0:18:27.840 the federal budget overnight by fifty billion dollars a year, 0:18:28.760 --> 0:18:30.960 all you would have to do is apply a carbon 0:18:31.160 --> 0:18:34.919 tax at the present price of carbon credits to the 0:18:34.960 --> 0:18:39.960 carbon embedded in a stratus fossil fuel exports, coal and gas. 0:18:40.000 --> 0:18:44.520 That would give you fifty billion dollars a year. Yes 0:18:44.840 --> 0:18:46.880 that I know that by just putting a price tag 0:18:46.920 --> 0:18:51.120 on something, theoretically, theoretically you're able to clik the tick 0:18:51.160 --> 0:18:53.399 and that fifty billion dollars. But maybe if the cost 0:18:53.640 --> 0:18:55.800 and the difference between the profit you make on the 0:18:55.840 --> 0:18:58.840 export is anything under that fifty billion dollars the people 0:18:58.840 --> 0:19:00.720 who are exporting it won't do because they're not going 0:19:00.760 --> 0:19:05.360 to do it to lose money. Mate. The former treasury 0:19:05.400 --> 0:19:08.280 head said that the government should also address a really 0:19:08.320 --> 0:19:11.360 bigger normally of superannuation. Okay, so that one as well 0:19:11.480 --> 0:19:15.600 super taxes. Okay. So despite the fact that you since 0:19:15.640 --> 0:19:18.159 the nineteen nineties have been putting your money away, forced 0:19:18.160 --> 0:19:20.639 to do so by the government on the provision that 0:19:20.840 --> 0:19:24.159 if you know, five, seven, eleven percent, sixteen percent, if 0:19:24.200 --> 0:19:26.320 you're in the public service, is being put away, that 0:19:26.480 --> 0:19:28.679 nothing will ever eat away at it. Oh but now 0:19:28.680 --> 0:19:30.600 it's a big giant pot of money, thanks very much, 0:19:30.760 --> 0:19:37.080 we might change the taxes on that very So that's 0:19:37.119 --> 0:19:41.240 what tax reform is going to mean. Okay, Now we 0:19:41.320 --> 0:19:44.680 might clip a little bit here. But the reason we're 0:19:44.680 --> 0:19:47.200 clipping a little bit here is because we can sell 0:19:47.240 --> 0:19:51.119 that to all of the little mushrooms who vote and 0:19:51.160 --> 0:19:54.399 because they work for companies they don't run companies, because 0:19:54.400 --> 0:19:58.080 they work for businesses that don't own businesses. Who cares 0:19:59.119 --> 0:20:03.320 well the reality after multiple years of this government, its 0:20:03.359 --> 0:20:07.919 policies and its administration. There are thousands, thousands of businesses 0:20:08.000 --> 0:20:11.280 that don't exist anymore. A record number went to the 0:20:11.280 --> 0:20:13.520 wall in the past three years. And guess what the 0:20:13.600 --> 0:20:15.520 latest numbers about where we are this year compared to 0:20:15.600 --> 0:20:20.480 last year is we're even higher than that. Nearly seven 0:20:20.520 --> 0:20:24.800 thousand business collapseses insolvencies surge, particular areas that are copying 0:20:24.800 --> 0:20:28.960 at the construction industry, food and accommodation. But because of 0:20:29.000 --> 0:20:30.720 course all of that's not run by the federal government 0:20:30.760 --> 0:20:33.040 or the state government or the local government, who cares. Right, 0:20:34.640 --> 0:20:37.359 the number of businesses shutting their doors has reached a 0:20:37.480 --> 0:20:41.960 historic high as almost seven thousand businesses across New South 0:20:42.000 --> 0:20:46.040 Wales have become insolvent in the past eleven months. Data 0:20:46.040 --> 0:20:48.920 shows insolvency in New South Wales increase by twenty six 0:20:49.000 --> 0:20:53.960 percent from the same time period last year, which was 0:20:54.440 --> 0:20:58.000 five and a bit. It's now almost seven thousand businesses. 0:20:58.040 --> 0:21:01.280 Because you see, they're outside of the triangle, right, anything 0:21:01.320 --> 0:21:04.479 outside of the triangle. The only thing that it is 0:21:04.520 --> 0:21:07.359 for is to give money to the triangle. That's it. 0:21:09.320 --> 0:21:13.480 The latest ATTIC insolvency data reveals one thousand businesses in 0:21:13.520 --> 0:21:17.240 the accommodation and food services sector, mostly cafes and restaurants, 0:21:17.359 --> 0:21:21.120 have shut their doors close to two thousand construction companies 0:21:21.119 --> 0:21:25.359 between July one last year May twenty five this year. 0:21:26.359 --> 0:21:28.600 Let's compare this state to state and is the most 0:21:28.600 --> 0:21:32.119 insolvencies compared to others. Victoria has five thousand of them, 0:21:32.200 --> 0:21:34.760 Queensland has three thousand of them. Western Australia has twelve 0:21:34.840 --> 0:21:37.040 hundred of them and South Australia has eight hundred and 0:21:37.080 --> 0:21:41.880 fifty All but now it's the time for tax reform, 0:21:42.320 --> 0:21:47.199 tax reform, tax reform, tax reform, yep, nothing will it 0:21:47.320 --> 0:21:50.440 all happen to the businesses of Australia. If you increase 0:21:50.520 --> 0:21:54.040 the GST from ten to twelve to fifteen percent, yes, 0:21:54.080 --> 0:21:55.600 most of that money will go to the States, which 0:21:55.600 --> 0:21:58.600 means less complaining from them, but still the sticker price 0:21:59.600 --> 0:22:02.640 is going to go up. Oh that's serious. That's serious 0:22:02.680 --> 0:22:08.640 tax reform. Just charging people more is not tax reform. 0:22:09.760 --> 0:22:13.760 It is just trying to find the fuel to fill 0:22:13.800 --> 0:22:16.760 the tank for how hot the government is running when 0:22:16.760 --> 0:22:19.960 it comes to its own expenditure, which by its own admission, 0:22:20.480 --> 0:22:24.159 will be in deficit next year the year after the 0:22:24.240 --> 0:22:26.159 year after that. As far as we can see for 0:22:26.200 --> 0:22:29.760