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Speaker 1: From the Australian. Here's what's on the front. I'm Claire Harvey.

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Speaker 1: It's Tuesday, March thirty one, twenty twenty six. Step away

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Speaker 1: from the Jerry Can. The government says there's plenty of fuel,

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Speaker 1: but it's going to make it much cheaper starting Wednesday

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Speaker 1: by harving the fuel excise and cutting road user charges.

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Speaker 1: Jim Chalmers says it's timely, temporary and responsible. But it

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Speaker 1: puts a giant hole in the budget. So why aren't

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Speaker 1: they rationing fuel, Why did it take so long to

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Speaker 1: get here?

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Speaker 2: And will it work?

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Speaker 1: Jeff Chambers is here in just a moment.

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Speaker 3: We're making fuel cheaper today because we understand that Australians

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Speaker 3: are under serious pressure.

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Speaker 4: Will reduce the cost of a sixty five liter tank

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Speaker 4: five out nineteen dollars.

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Speaker 3: Our government will reduce the heavy vehicle due to charge

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Speaker 3: to zero for three months to help trucks continue their

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Speaker 3: vital work for our nation.

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Speaker 4: It is timely, it is temporary, and it is responsible.

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Speaker 3: We are asking people to buy as much fuel as

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Speaker 3: they need, as much fuel as they usually get, not more,

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Speaker 3: not less.

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Speaker 4: The cost of what we are announcing today is two

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Speaker 4: point five five billion dollars another fifty three million dollars.

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Speaker 1: Jeff Chambers is The Australian's political editor. Jeff On Monday,

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Speaker 1: the Prime Minister announced it pretty sweeping changes to the

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Speaker 1: way fuel is priced in Australia. First of all, are

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Speaker 1: you going to rush out and fill it?

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Speaker 4: You can't.

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Speaker 5: Well, I think there's a fair few people that will

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Speaker 5: probably wait until Wednesday when this very populous fuel exercise

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Speaker 5: cut kicks in. There'll probably be a few jerry cans

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Speaker 5: and some big traffic jams getting into the surveys. Look,

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Speaker 5: the fuel excise decision is another bit of evidence that

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Speaker 5: when this Albanezi government is under pressure, it goes to

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Speaker 5: the checkbook, the taxpayer funded checkbook, and it spends its

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Speaker 5: way out of a problem. We saw on Saturday the

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Speaker 5: Prime Minister and Chris Bowen, who's been under a lot

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Speaker 5: of pressure, say that they're going to underwrite more supply

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Speaker 5: coming into the country. So what does that mean. We

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Speaker 5: don't know how much it's going to cost, but with

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Speaker 5: the oil price the way it is, there is supply

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Speaker 5: out there, there are ships with oil on it and

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Speaker 5: the government will probably hide behind commercial and confidence, but

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Speaker 5: it will cost tens of millions of dollars to underwrite

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Speaker 5: petrol coming in, so they hope that that will sort

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Speaker 5: out the supply issue. We're already underwriting fuel refineries. There's

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Speaker 5: only a couple left in this country. They wouldn't be

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Speaker 5: open without taxpayer funded subsidies. And now we're having to

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Speaker 5: subsidize the price of petrol. And we've seen some that

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Speaker 5: will say that Angus Taylor on Friday has basically given.

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Speaker 2: A green light for the government to move this way.

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Speaker 5: Well, petrol stations are running dry. Fuel's becoming unaffordable for

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Speaker 5: Australians and this government hasn't got off its task and

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Speaker 5: done its job. The speed of the way that the

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Speaker 5: government announced it on a Monday after our Friday announcement

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Speaker 5: shows that this was already ready.

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Speaker 2: This was already prepared, it was already costed.

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Speaker 5: We're about six weeks out from the May twelve budget

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Speaker 5: and it was like, thank you very much, thanks for

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Speaker 5: giving us the green light to spend and this is

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Speaker 5: going to cost about two point five to five billion dollars.

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Speaker 5: And I think this is the issue with the major

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Speaker 5: parties is that they chase that sort of populous big

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Speaker 5: spendethon and no one's actually looking with more sort of

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Speaker 5: complex thought about future proofing Australia. Why was our fuel

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Speaker 5: stock so low? It's been low for years under the

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Speaker 5: coalition under Labor. Does anyone think that Chris Bowen put

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Speaker 5: fossil fuel petrol oil fuel reserves at the top of

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Speaker 5: his list when they won the election in twenty twenty two.

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Speaker 5: The answer to that is absolutely not.

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Speaker 1: Over the weekend, the Prime Minister was taking a very

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Speaker 1: sort of disappointed headmaster tone and it reminded me a

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Speaker 1: little bit of COVID Jeff, where he was saying he

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Speaker 1: was shocked to see photographs of people with multiple jerry

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Speaker 1: cans filling up at petrol stations. But isn't that a

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Speaker 1: problem that the government itself created by failing to do

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Speaker 1: maybe something like this or something else much much earlier

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Speaker 1: than now.

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Speaker 2: Yeah.

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Speaker 5: Look, we do see this delayed response in times of crises.

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Speaker 5: We've talked about it on a bunch of fronts, and

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Speaker 5: they ultimately get there, but they have to get pushed

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Speaker 5: by someone else saying why don't you do this, or

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Speaker 5: they get some polling or some focus group research coming in,

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Speaker 5: or their backbenches are saying you have to do more,

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Speaker 5: and do it quicker that's really interesting, this sort of

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Speaker 5: COVID link. And I've been getting some PTSD because I

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Speaker 5: covered so many National Cabinet meetings Scott Morrison era, and

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Speaker 5: it's funny to hear the government talking about they don't

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Speaker 5: want to intervene, they don't want to mandate things, when

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Speaker 5: I do recall them being in opposition and coming up

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Speaker 5: with a lot of pretty draconian ideas.

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Speaker 2: So it's a new world order.

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Speaker 5: Now say, look, the Prime Minister has learned from that

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Speaker 5: COVID experience that unless he absolutely has to, doesn't want

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Speaker 5: to get in talk of rationing. There was that language

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Speaker 5: from some labor ministers and Chris Bowen in regards to

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Speaker 5: these people who are filling up their Jerry cans being

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Speaker 5: un Australian, and that tone was pretty quickly, you know,

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Speaker 5: it very much toned it back. We saw Chris Bowen

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Speaker 5: and Jim Chalmers standing very grim faced and next to

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Speaker 5: the Prime Minister. These are normally the attack dogs. And

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Speaker 5: now everyone's looking towards the budget and to thinking there

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Speaker 5: could be a recession by the end of the year.

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Speaker 5: What's going to happen to the housing market, how high

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Speaker 5: are costs going to be?

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Speaker 2: And will this.

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Speaker 5: Government now try and spend its way out of trying

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Speaker 5: to lower inflation a lot they did with the power

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Speaker 5: bills and try to avoid recession.

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Speaker 2: And I think potentially.

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Speaker 5: This Donald Trump Iran war has given them potentially an

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Speaker 5: excuse to squib it and to go full spending popular

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Speaker 5: sort of approach, the idea of.

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Speaker 1: That being un Australian and filling up multiple jerry cans

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Speaker 1: at the petrol station. And it's a clear reference, I

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Speaker 1: think to the way people were hoarding so something like

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Speaker 1: toilet paper or tintune or bottle water during the COVID pandemic.

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Speaker 1: Is it on Australian or is it just kind of

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Speaker 1: sensible if you don't actually have any faith in the

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Speaker 1: government to make sure that the petrol station is not

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Speaker 1: going to run out next week.

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Speaker 2: Yeah, it's a really good point.

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Speaker 5: We've basically ostracize the oil and gas industry in this country.

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Speaker 5: We've got so much of it here and we're importing

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Speaker 5: almost everything, And what other option do Australian motorists and

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Speaker 5: those who rely on petrol have if that's their livelihood

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Speaker 5: and they're struggling to pay the bills. So yeah, really

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Speaker 5: it comes down to a supply issue. That's my issue

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Speaker 5: with the excise. I mean, obviously people would want cheaper petrol,

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Speaker 5: but at the end of the day, we just need

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Speaker 5: to have that steady flow of supply. And it's quite

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Speaker 5: ironic now to see crisp and through gritted teeth having

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Speaker 5: to subsidize the importing of a fossil fuel in oil

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Speaker 5: and bring that petrol in and make it cheaper.

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Speaker 2: And I think the only thing.

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Speaker 5: That Angus Taylor's announcement did to the Prime Minister and

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Speaker 5: Chris Bowen was really, I guess, make them quite angry

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Speaker 5: because he said to fund his fuel excise cut proposed cut,

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Speaker 5: he would cut a whole bunch of these EV and

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Speaker 5: green programs for labor.

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Speaker 2: That's a no go zone.

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Speaker 1: Well, we saw last week reports that used EV sales

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Speaker 1: were actually up for the first time ever, so maybe

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Speaker 1: Chris Bohm will get his way anyway.

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Speaker 2: Well, I mean that's it. I've heard the same thing.

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Speaker 5: And you don't get the warranty right for the battery

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Speaker 5: and there are issues with the battery.

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Speaker 2: So this is what we see.

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Speaker 5: You know, the more elite folk who could buy that

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Speaker 5: new EV and get all that great subsidy, the trickle down.

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Speaker 2: Element of that will mean that, yeah, you're going to.

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Speaker 5: Have other families buying secondhand vehicles with zero warranty. So

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Speaker 5: it's put a lot of pressure on Jim Charmer's six

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Speaker 5: weeks out from the budget.

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Speaker 1: Coming up, So why aren't we imposing limits at the

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Speaker 1: petrol pump. Let's just look at that idea of rationing though, Jeff,

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Speaker 1: maybe this is on Australian I don't know, but would

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Speaker 1: a hundred leader ration have been such a bad idea

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Speaker 1: three weeks ago if the government had said, look, there's

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Speaker 1: nothing wrong with your supply, but to make sure that

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Speaker 1: there's enough for everybody and that nobody feels the need

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Speaker 1: to panic by, we're going to limit you to one

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Speaker 1: hundred leaders per stop at the petrol station, maybe per

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Speaker 1: week or per few days. Would that have been such

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Speaker 1: a bad idea and could it potentially have avoided this

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Speaker 1: massive hit to the budget that they're now going to

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Speaker 1: have to deal with.

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Speaker 2: Yeah.

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Speaker 5: I think there's a lot of trauma and paranoia amongst

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Speaker 5: the political class thinking about COVID and mandates that came down,

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Speaker 5: and I think that drove a lot of that resistance.

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Speaker 5: I think Pauline Hanson had come out and talked about

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Speaker 5: that as well. So you see the major parties, she

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Speaker 5: does this to them where she'll come out with something

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Speaker 5: very early, then they try and find their way through

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Speaker 5: it and how they respond to it. I think it's

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Speaker 5: difficult in the fact that you've got suburban motorists, You've

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Speaker 5: got regional motorists out of suburban motorists.

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Speaker 2: So how do you get that rationing level right?

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Speaker 5: Cars generally are more efficient than they were many years ago,

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Speaker 5: so I personally probably fill up once a week now,

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Speaker 5: where in the old days I probably would have filed

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Speaker 5: that more than that. So I think it came down

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Speaker 5: to that. But it was pretty obvious to me that

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Speaker 5: the government were very flat footed. I think as soon

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Speaker 5: as the Iran War started, you surely thought about supply

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Speaker 5: chain and for US our strategic reserve being in the

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Speaker 5: US that was never going to come our way, so

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Speaker 5: they should have had a plan in place, and unfortunately,

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Speaker 5: I just as I said earlier, I don't think Chris

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Speaker 5: Bowen when he came in in twenty twenty two, would

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Speaker 5: have looked at our strategic reserves just how fragile they

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Speaker 5: are in that thirty day mark and gone, we need

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Speaker 5: to prioritize this to protect our sovereignty and to protect

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Speaker 5: our families motor workers. It's sort of like he's learning

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Speaker 5: it on the job. We've had shortages of ad Blue

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Speaker 5: during COVID. It wasn't because they couldn't come out of China,

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Speaker 5: but people were hoarding it. So you've got to get

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Speaker 5: the actual suppliers sitting around the table.

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Speaker 2: You've got to know who they are.

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Speaker 5: There's also we had gas issues in terms of gas shortfalls,

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Speaker 5: so you bring in all the gas bosses and you

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Speaker 5: lay the law down. So I've heard that there are

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Speaker 5: some independent fuel and other sort of private companies who

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Speaker 5: are hoarding as well because it's not in their best

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Speaker 5: financial interests. So it's going to be a pretty costly

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Speaker 5: exercise over a few months because we weren't prepared for this.

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Speaker 1: Well, Jim Thomas has clearly got a new mantra, and

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Speaker 1: it's giving me flashbacks to budgets a couple of budgets ago.

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Speaker 2: Jeff.

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Speaker 1: It's temporary, it's timely, and it's repet so we've got

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Speaker 1: six more weeks to hear that until budget night. I

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Speaker 1: hope you enjoy it.

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Speaker 5: Yeah, Well, this was supposed to be his big reforming budget.

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Speaker 5: He was supposed to show us how he was going

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Speaker 5: to lift productivity and everything's been blown out of the water.

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Speaker 5: And the Prime minister's a pretty cautious fellow and his

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Speaker 5: Treasurer has a lot of ambition.

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Speaker 2: So who wins the day?

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Speaker 5: And I think given the situation where it's been a

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Speaker 5: while since we've seen these cost of living sweeteners, they

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Speaker 5: didn't do it at my EFO. I think that there's

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Speaker 5: going to be more to come on this. The problem

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Speaker 5: is if inflation keeps going up, where does this stop?

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Speaker 5: For How long can the government think they can keep

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Speaker 5: propping up household budgets when the cost of everything keeps

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Speaker 5: just going through the roof And the projections are is

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Speaker 5: that we may well fall into recession and those cost

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Speaker 5: of living pressures might just keep rising and rising.

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Speaker 1: Well, Jeff, thank you very much and I'll see you

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Speaker 1: at the petrol station on Wednesday.

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Speaker 2: I see there.

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Speaker 1: Thanks, hopefully we'll see you there too. Jeff Chambers is

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Speaker 1: The Australian's political editor. You can read all his unrivaled

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Speaker 1: analysis at the Australian dot com do AU