WEBVTT - The Jim Chalmers Interview

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<v Speaker 1>From Schwartz Media. In seven Am, I'm Ashlin McGee. This

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<v Speaker 1>is the cost inside the living Crisis. This week Jim

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<v Speaker 1>Chalmers delivered a budget he's worked around the clock to

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<v Speaker 1>pull together, with the future of a labor government and

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<v Speaker 1>the country's cost of living crisis on the line. Today,

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<v Speaker 1>he joins seven Am to discuss his vision for the

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<v Speaker 1>future of the economy and whether the government's done enough

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<v Speaker 1>to win the living crisis. It's Friday May seventeen, Treasurer,

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<v Speaker 1>welcome to seven Am.

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<v Speaker 2>Hey, thanks for having me on.

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<v Speaker 1>So I want to take you back to last Sunday

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<v Speaker 1>night first before the budget, if you can remember. Back then,

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<v Speaker 1>you're in Canberra, you're finalizing your speech, You've done kind

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<v Speaker 1>of a round of media interviews during the day and

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<v Speaker 1>then you're off for dinner at the lodge with the

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<v Speaker 1>Prime Minister and the Finance Minister Katie Gallaher. What was

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<v Speaker 1>the mood like that dinner?

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<v Speaker 2>Pretty casual, pretty relaxed. There are a few other colleagues

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<v Speaker 2>there as well, but we do that relatively regularly and

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<v Speaker 2>Anthony is not a kind of super formal guy, and

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<v Speaker 2>so we have a good yack. We don't hang out

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<v Speaker 2>forever We're not those guests where people are kind of

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<v Speaker 2>looking at their watch at eleven thirty wondering when they'll,

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<v Speaker 2>you know, what kind of hits that the host needs

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<v Speaker 2>to drop. So we're only there for a little while.

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<v Speaker 2>We have dinner, We have a lovely chat, good chat, relaxed,

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<v Speaker 2>and we talk about the week ahead, primarily the budget,

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<v Speaker 2>which at that point was, you know, almost exactly forty

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<v Speaker 2>eight hours away.

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<v Speaker 1>Was it all locked off at that point or were

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<v Speaker 1>there some little tweaks going on still?

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<v Speaker 2>No, it's locked off, definitely. The decisions are locked off,

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<v Speaker 2>the printers are kind of whirring. The last thing that

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<v Speaker 2>we have to put to bed is the speech because

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<v Speaker 2>that gets printed last and bound last. And so the

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<v Speaker 2>good thing about knowing you've got a you've got a

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<v Speaker 2>plan for dinner is you use that as your deadline.

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<v Speaker 2>So I literally hit send on the last version of

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<v Speaker 2>the speech and then I leave to walk down to

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<v Speaker 2>Anthony's house.

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<v Speaker 1>So when we move on in a sect, but I

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<v Speaker 1>just want to be a little nosy first. Was it

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<v Speaker 1>a champagne or red wine kind of moment or a

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<v Speaker 1>soft drink?

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<v Speaker 2>It was a kind of It was mostly a mineral

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<v Speaker 2>water gig I think certainly for me, I gave the

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<v Speaker 2>wine away and the beers away, well a long time ago,

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<v Speaker 2>now four years maybe so sparkling water for me and

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<v Speaker 2>the other colleagues made their own decisions.

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<v Speaker 1>And so when you're chatting about the budget, what kind

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<v Speaker 1>of headline topics came up? What were the big things

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<v Speaker 1>that you were all talking about.

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<v Speaker 2>Well, the most important thing that took a lot of

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<v Speaker 2>our time or two most important things were cost of

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<v Speaker 2>living help, you know, trying to work out how can

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<v Speaker 2>we do the most we can and it's still be

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<v Speaker 2>responsible in the context of the budget. So that was

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<v Speaker 2>probably the main definitely the main near term kind of priority.

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<v Speaker 2>And then the big longer term piece was this Future

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<v Speaker 2>Made in Australia agenda, which is really about how do

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<v Speaker 2>we make Australia indispensable to the big global net zero

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<v Speaker 2>transformation and how do we make sure that creates good

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<v Speaker 2>jobs and opportunities for people in Australia.

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<v Speaker 1>And I'm sure you discussed it in those very words.

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<v Speaker 2>Mostly well that's how we thought about it, But I'm

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<v Speaker 2>trying to make a realistic guess. I mean, you know,

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<v Speaker 2>maybe hundreds of hours of discussion go into a budget

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<v Speaker 2>and the big pieces cost living, help and future made

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<v Speaker 2>in Australia with the two biggest but also a big

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<v Speaker 2>housing package, a big care economy package and a big

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<v Speaker 2>universities package. There would have been hundreds of hours of

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<v Speaker 2>discussions that led to that.

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<v Speaker 1>As we've just talked about your fram this budget in

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<v Speaker 1>two really clear ways. So on one hand it's about

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<v Speaker 1>inflation and not adding to it, and on the other hand,

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<v Speaker 1>it's about what the government is doing to support people

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<v Speaker 1>who are struggling. So to go to that a little

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<v Speaker 1>bit more, how would you describe the gap between the

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<v Speaker 1>rich and the poor in Australia right now? Can you

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<v Speaker 1>give us a bit of a scorecard of how you

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<v Speaker 1>see things.

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<v Speaker 2>Well, obviously it's a concerning gap and that's why it's

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<v Speaker 2>one of the big motivations behind what we did when

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<v Speaker 2>we change the tax cuts, for example, And anybody who's

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<v Speaker 2>kind of followed the bouncing ball of the last few

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<v Speaker 2>years of income tax policy knows that there was some

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<v Speaker 2>tax cuts which were legislated which we're going to go

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<v Speaker 2>overwhelmingly to people on the highest incomes, and we took

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<v Speaker 2>a political risk to say we're going to rewrite those

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<v Speaker 2>tax cuts so that everybody gets a tax cut, including

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<v Speaker 2>people who were going to miss out before, which was

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<v Speaker 2>low income earners and which are with a much bigger

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<v Speaker 2>emphasis on people on middle incomes and low incomes. And

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<v Speaker 2>so we did that in January because we had to

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<v Speaker 2>legislate it in plenty of time before the changes come

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<v Speaker 2>in in July. And so that is us I think

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<v Speaker 2>acknowledging that our role is to where we can make

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<v Speaker 2>things a bit fairer in in my portfolio, the tax

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<v Speaker 2>system is an important way to do that, make multinationals

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<v Speaker 2>pay their fair share of tax, you know, crack down

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<v Speaker 2>on tax avoidance, that people of wealthier people are more

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<v Speaker 2>likely to be engaged in all of those sorts of things,

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<v Speaker 2>so we can fund things that matter to people who

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<v Speaker 2>might be struggling. You know, more rent assistance is in

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<v Speaker 2>the budget. You know, cheaper medicines is in the budget.

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<v Speaker 2>Trying to do give people a better deal in the

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<v Speaker 2>hex's student debt systems in the budget. And all of

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<v Speaker 2>this is really about trying to make sure that our

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<v Speaker 2>budgets and our economy are a bit fairer, but recognizing

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<v Speaker 2>that there's more work still to do on that front.

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<v Speaker 1>So just go to one of the specifics here, because

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<v Speaker 1>I think this is the one that a lot of

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<v Speaker 1>people are struggling to get their heads around, and that

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<v Speaker 1>is the energy rebate that goes to every single of stratagon,

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<v Speaker 1>not just those that say the lower or the middle ends.

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<v Speaker 1>Help us understand why the people at the top end,

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<v Speaker 1>why you think they need it as well well.

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<v Speaker 2>The people on the highest incomes aren't our focus in

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<v Speaker 2>what we're doing here. They're not our they're not our concern.

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<v Speaker 2>But there's a couple of reasons why we've designed it

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<v Speaker 2>the way we have. Last time we did it in

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<v Speaker 2>a more targeted way. We provided energy bill relief to

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<v Speaker 2>people who are on pensions and payments, and that was

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<v Speaker 2>really important. We're very proud of what we're able to

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<v Speaker 2>do there, but I think we have to recognize that

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<v Speaker 2>even people on kind of middle incomes, there's a lot

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<v Speaker 2>of people who are struggling as well. You know, people

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<v Speaker 2>who might have mortgages who you are dealing with these

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<v Speaker 2>higher interest rates, for example. And once you decide that

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<v Speaker 2>you're going to go beyond the pensions and payment system,

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<v Speaker 2>which the energy retailers who we work with to provide

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<v Speaker 2>the relief because it comes off your energy bill. They

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<v Speaker 2>have information about who's on pensions and payments, but they

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<v Speaker 2>don't have information about your income. The energy retailers do

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<v Speaker 2>not know how much you earn, or how much I earn,

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<v Speaker 2>or anyone else, and so we would have had to

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<v Speaker 2>design a whole new system of data sharing between these

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<v Speaker 2>tax office and the energy retailers. And a lot of

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<v Speaker 2>people wouldn't want their income information shared with their energy retailer.

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<v Speaker 2>And so there are a whole bunch of important reasons why.

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<v Speaker 2>You know, it wasn't possible to kind of quickly and

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<v Speaker 2>cheaply do a means test, so primarily we wanted to

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<v Speaker 2>provide the support broadly. But secondly, there are mechanical reasons,

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<v Speaker 2>logistical reasons why it would have taken too long and

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<v Speaker 2>cost too much to devise an entirely new system which

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<v Speaker 2>would have seen energy retailers have access to your salary

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<v Speaker 2>and wages.

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<v Speaker 1>It sounds like a logistical nightmare, But put that aside

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<v Speaker 1>for a moment, does it, Nicoli you a bit that

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<v Speaker 1>you know the top twenty percent who like essentially they

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<v Speaker 1>have about six times more disposable income than the rest

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<v Speaker 1>of us that they're getting this three hundred dollars bump.

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<v Speaker 2>Well, it's you know, like I said before, you know,

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<v Speaker 2>we didn't we didn't design this policy to you know,

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<v Speaker 2>with them in mind. You know, we designed this policy

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<v Speaker 2>with people on low and fixed incomes and middle incomes

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<v Speaker 2>in mind. You know, the people who are genuinely st

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<v Speaker 2>There's a lot of help that is provided broadly in

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<v Speaker 2>the economy, and people have got views about that, and

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<v Speaker 2>that's good. But also remember, and this goes to the

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<v Speaker 2>kind of political argibardgie about this very question that you're asking.

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<v Speaker 2>You know, when we said to the highest income and is, look,

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<v Speaker 2>we don't think you should get a nine thousand dollars

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<v Speaker 2>tax cut. We think you should get a smaller tax

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<v Speaker 2>cut about half of that. We're talking there about fifteen

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<v Speaker 2>times this energy rebate, we're talking about four and a

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<v Speaker 2>half thousand dollars. And so I think that sheds a

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<v Speaker 2>bit of light on what's really happening in the political

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<v Speaker 2>criticism about this. You know, some of our political opponents

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<v Speaker 2>didn't think it was fair that we haved Gina Einhart's

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<v Speaker 2>tax cut, and now they're saying, oh, it's outrageous that

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<v Speaker 2>this is which is one fifteenth of the tax change

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<v Speaker 2>that we made, so I think we need a little

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<v Speaker 2>bit of perspective. People know we are bona fide is

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<v Speaker 2>when it comes to helping people on middle incomes and

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<v Speaker 2>low incomes. We showed that in the tax system. But

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<v Speaker 2>in this instance we're providing the support broadly for a reason,

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<v Speaker 2>and there's also a logistical reason why it would have

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<v Speaker 2>taken longer and costs more.

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<v Speaker 1>So I just want to test out a couple of

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<v Speaker 1>quick things on you, because there's a whole lot of

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<v Speaker 1>ideas that float around in the lead up to the budget,

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<v Speaker 1>but given the wealth disparity, I just want to check

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<v Speaker 1>with you why these things were ruled out. So the

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<v Speaker 1>first is free and universal access to childcare. Why rule

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<v Speaker 1>that out right now?

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<v Speaker 2>Well, we are working towards universality in the early childhood

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<v Speaker 2>education system. You know, the Prime Minister has said before

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<v Speaker 2>that a country like ours should have that aspiration, and

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<v Speaker 2>in the three budgets I've handed down, one of the

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<v Speaker 2>biggest investments I've made in any of those budgets is

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<v Speaker 2>in making early childhood education cheaper. Billions and billions and

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<v Speaker 2>billions of dollars invested in our first budget for that.

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<v Speaker 2>But we believe in the transformative capacity of early childhood education,

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<v Speaker 2>so making it cheaper in the first budget. And the

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<v Speaker 2>other thing I did in this budget is we Vision four.

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<v Speaker 2>You know, we made room for billions of dollars in

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<v Speaker 2>higher wages in the care economy, whether it's age care

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<v Speaker 2>wages or early childhood educators, because they have been underpaid

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<v Speaker 2>for too long. And so once we get the decision

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<v Speaker 2>out of the Fairwork Commission about pay in the care economy,

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<v Speaker 2>we've made room in the budget to make sure that

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<v Speaker 2>we can fund our part of that.

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<v Speaker 1>The other one I just really quickly want to touch

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<v Speaker 1>on is more support to help people go electric in

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<v Speaker 1>their homes and with their cars. There seems like there's

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<v Speaker 1>some huge benefits financially to that. Why not offer more

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<v Speaker 1>direct incentives to households.

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<v Speaker 2>Yeah, I take from your question about direct incentives that

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<v Speaker 2>you're probably aware that we had in an earlier budget.

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<v Speaker 2>We've got a system of concessional loans to help people electrify,

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<v Speaker 2>which obviously a super important objective that we get. You know,

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<v Speaker 2>if people want to electrify, we want to make it

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<v Speaker 2>as easy as possibly want to get emissions down, and

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<v Speaker 2>households have got a big role to play in that

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<v Speaker 2>what we have considered, you know what next steps we

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<v Speaker 2>might want to do in that front. We've got a

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<v Speaker 2>pretty open mind to doing more in the future, you know,

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<v Speaker 2>when we can do that in a kind of responsible,

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<v Speaker 2>affordable way.

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<v Speaker 1>Tell me are about that? That sounds like an interesting

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<v Speaker 1>point to pick you up on there.

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<v Speaker 2>What are you thinking, Well, well, we don't think it's

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<v Speaker 2>a bad idea, but we've got to make everything out

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<v Speaker 2>up and so you know, one of the big jobs

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<v Speaker 2>of budgets that your followers and listeners would understand is

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<v Speaker 2>that there are more good ideas than you can fit

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<v Speaker 2>into a budget, and so you've got to work out, Okay,

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<v Speaker 2>what are we going to do now, what are we

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<v Speaker 2>going to try and do later, What are we going

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<v Speaker 2>to try and do after that. That's not an unusual

0:11:33.640 --> 0:11:35.840
<v Speaker 2>thing in all kinds of different professions and that's the

0:11:35.840 --> 0:11:39.240
<v Speaker 2>same for us. And so we think household electrification is

0:11:39.280 --> 0:11:43.000
<v Speaker 2>a very very important objective. We've made some investments in

0:11:43.040 --> 0:11:45.760
<v Speaker 2>that in the past. We've got an open mind about

0:11:45.800 --> 0:11:46.680
<v Speaker 2>doing more in the future.

0:11:48.600 --> 0:11:51.480
<v Speaker 1>After the break what a humble pineapple has to do

0:11:51.640 --> 0:12:05.120
<v Speaker 1>with intergenerational inequality, So treasurer for our sins, we went

0:12:05.160 --> 0:12:07.440
<v Speaker 1>back and looked at the last fifteen years of budget

0:12:07.520 --> 0:12:08.280
<v Speaker 1>night speeches.

0:12:08.360 --> 0:12:11.679
<v Speaker 2>That is madness. That is the maddest thing.

0:12:11.679 --> 0:12:14.280
<v Speaker 1>I have definition of manners right there. Look, it was

0:12:14.320 --> 0:12:17.440
<v Speaker 1>just a little free time entertainment. And the thing that

0:12:17.480 --> 0:12:21.080
<v Speaker 1>we found interesting was that the only time that young

0:12:21.080 --> 0:12:24.120
<v Speaker 1>people really get mentioned in these budget night speeches is

0:12:24.120 --> 0:12:26.560
<v Speaker 1>when it's to get them into more apprenticeships or to

0:12:26.640 --> 0:12:29.400
<v Speaker 1>let them use their superannuation to save for a house.

0:12:30.640 --> 0:12:33.679
<v Speaker 1>Your budget seems like and certainly your speech had more

0:12:33.720 --> 0:12:36.040
<v Speaker 1>of a focus on young people, So I wanted to

0:12:36.080 --> 0:12:39.319
<v Speaker 1>ask you about why that in particular was important to you.

0:12:40.360 --> 0:12:42.760
<v Speaker 2>Well, I feel like to use what is probably a

0:12:42.920 --> 0:12:47.839
<v Speaker 2>very Queensland saying, I feel like young people too often

0:12:47.880 --> 0:12:51.960
<v Speaker 2>get the rough end of the pineapple. And I think

0:12:52.000 --> 0:12:56.679
<v Speaker 2>that's true of I think that's true in the way

0:12:56.720 --> 0:12:59.200
<v Speaker 2>that the hex step was calculated last year. That's why

0:12:59.280 --> 0:13:02.600
<v Speaker 2>we fixed that. I think it's true in the rental market,

0:13:02.600 --> 0:13:05.199
<v Speaker 2>that's why we're trying to build heaps more rental properties

0:13:06.120 --> 0:13:09.560
<v Speaker 2>and providing rent assistance. I think it's true in the

0:13:09.559 --> 0:13:12.600
<v Speaker 2>tax system. You know, one of the main motivations when

0:13:12.640 --> 0:13:15.120
<v Speaker 2>we rewrote the tax cuts was because too many young

0:13:15.160 --> 0:13:18.880
<v Speaker 2>people were missing out under the old one, and many,

0:13:18.920 --> 0:13:21.640
<v Speaker 2>many more young people benefit from the new tax cuts.

0:13:21.640 --> 0:13:26.199
<v Speaker 2>And so, to be honest with you, I'm really pleased

0:13:26.200 --> 0:13:29.240
<v Speaker 2>that you notice that, because we were very deliberate about

0:13:29.360 --> 0:13:34.560
<v Speaker 2>trying to say young people often feel disproportionately these cost

0:13:34.600 --> 0:13:38.120
<v Speaker 2>of living pressures, and we've got some opportunities here to

0:13:38.160 --> 0:13:40.480
<v Speaker 2>try and do a bit better. And so that's why

0:13:40.520 --> 0:13:43.559
<v Speaker 2>they were a bigger part. Younger people were a bigger

0:13:43.600 --> 0:13:45.079
<v Speaker 2>part of the budget speech than usual.

0:13:45.559 --> 0:13:47.560
<v Speaker 1>For people who already have a home, they're really nervous

0:13:47.600 --> 0:13:49.320
<v Speaker 1>about future rate rises.

0:13:49.600 --> 0:13:52.040
<v Speaker 2>What can you say to them, Well, I go out

0:13:52.080 --> 0:13:55.040
<v Speaker 2>of my way. I try really really hard not to

0:13:55.080 --> 0:13:59.720
<v Speaker 2>say anything that gives that pretends that you know, I

0:13:59.760 --> 0:14:02.280
<v Speaker 2>have You know, I'm a decider here. You know, this

0:14:02.400 --> 0:14:06.360
<v Speaker 2>is decided independently by the Reserve Bank governor and her board,

0:14:07.840 --> 0:14:10.280
<v Speaker 2>and I don't like to make predictions or preempt that.

0:14:10.679 --> 0:14:12.920
<v Speaker 2>I like to take responsibility for my part of it.

0:14:13.520 --> 0:14:16.080
<v Speaker 2>My part of it is to do responsible budgets that

0:14:16.160 --> 0:14:18.160
<v Speaker 2>help people with the cost of living and put downward

0:14:18.160 --> 0:14:21.120
<v Speaker 2>pressure on inflation, because that's one of the things that

0:14:21.160 --> 0:14:23.720
<v Speaker 2>the Reserve Bank Board considers when it meets to decide

0:14:23.960 --> 0:14:26.160
<v Speaker 2>the future movement of interest rates. There's lots of views

0:14:26.200 --> 0:14:30.400
<v Speaker 2>about it. I understand that people are under pressure because

0:14:30.440 --> 0:14:33.600
<v Speaker 2>of these rate rises, but it's not especially helpful for

0:14:33.640 --> 0:14:35.400
<v Speaker 2>me to tell the governor of the Reserve Bank how

0:14:35.440 --> 0:14:37.040
<v Speaker 2>to do her job, and she doesn't tell me how

0:14:37.080 --> 0:14:41.120
<v Speaker 2>to do my job. We talk frequently, we compare notes frequently.

0:14:41.600 --> 0:14:43.400
<v Speaker 2>I know where she's coming from, and she knows where

0:14:43.400 --> 0:14:44.840
<v Speaker 2>I'm coming from, But I don't tell her how to

0:14:44.920 --> 0:14:45.400
<v Speaker 2>do her job.

0:14:45.720 --> 0:14:48.280
<v Speaker 1>What happens if inflation doesn't get down below three percent

0:14:48.360 --> 0:14:48.840
<v Speaker 1>by the end of.

0:14:48.840 --> 0:14:51.800
<v Speaker 2>The year, Well, that's the best estimation, you know, that's

0:14:51.800 --> 0:14:55.520
<v Speaker 2>the best forecast of the professional economists that work in

0:14:55.560 --> 0:14:58.240
<v Speaker 2>the Treasury Department in Canberra. They come up with their

0:14:58.240 --> 0:15:02.200
<v Speaker 2>best estimate of where they think inflation is going to head.

0:15:02.920 --> 0:15:05.680
<v Speaker 2>It's a difficult job. It's not always four carts aren't

0:15:05.680 --> 0:15:09.480
<v Speaker 2>always perfect, and it's especially difficult when times of volatile

0:15:09.560 --> 0:15:11.960
<v Speaker 2>like they are now. But that's their best estimate. And

0:15:12.440 --> 0:15:15.640
<v Speaker 2>my job is not to you know, I don't write

0:15:15.680 --> 0:15:19.520
<v Speaker 2>those four casts. I don't kind of my job is

0:15:19.560 --> 0:15:21.480
<v Speaker 2>to do what I can to get inflation down as

0:15:21.520 --> 0:15:23.240
<v Speaker 2>soon as I can, as quickly as I can. And

0:15:23.280 --> 0:15:25.720
<v Speaker 2>on that front, I might not feel like it out

0:15:25.760 --> 0:15:28.520
<v Speaker 2>in the community necessarily yet, but inflation has come down

0:15:28.560 --> 0:15:31.000
<v Speaker 2>really substantially. It had a six in front of it

0:15:31.040 --> 0:15:32.800
<v Speaker 2>when we came to office two years ago. Now it's

0:15:32.840 --> 0:15:34.440
<v Speaker 2>got a three in front of it. Still too high.

0:15:34.440 --> 0:15:37.080
<v Speaker 2>We need it to go lower, and the budget's going

0:15:37.080 --> 0:15:39.200
<v Speaker 2>to play a role in making sure that it does.

0:15:39.720 --> 0:15:41.520
<v Speaker 1>What is it that keeps you awaken that treasurer?

0:15:41.840 --> 0:15:44.160
<v Speaker 2>Well, pretty much that at the moment these cost of

0:15:44.200 --> 0:15:48.640
<v Speaker 2>living pressures, you know, and I come from a community

0:15:48.680 --> 0:15:51.640
<v Speaker 2>which has got its fair share of challenges, and some

0:15:51.680 --> 0:15:54.040
<v Speaker 2>of them are economic challenges. You know, people are under

0:15:54.080 --> 0:15:58.080
<v Speaker 2>the pump. And what I try to do as Treasurer

0:15:58.160 --> 0:16:00.000
<v Speaker 2>is not kind of locked myself away. I try to

0:16:00.160 --> 0:16:02.320
<v Speaker 2>be really engaged with my local community. I try to

0:16:02.360 --> 0:16:05.720
<v Speaker 2>engage as much as I can more broadly. And the

0:16:05.880 --> 0:16:09.320
<v Speaker 2>inescapable conclusion of all of those hundreds of conversations you

0:16:09.400 --> 0:16:11.720
<v Speaker 2>have in real communities with real people as that they're

0:16:11.800 --> 0:16:14.760
<v Speaker 2>under pressure, and you know, as the treasurer and as

0:16:15.160 --> 0:16:18.840
<v Speaker 2>a local representative as well, obviously that weighs heavily on

0:16:18.880 --> 0:16:21.560
<v Speaker 2>my mind. And that's why we do what we can,

0:16:21.840 --> 0:16:23.960
<v Speaker 2>and we do as much as we can in these budgets.

0:16:24.520 --> 0:16:28.160
<v Speaker 1>So you're a politician who's spoken about big, bold ideas

0:16:28.200 --> 0:16:31.080
<v Speaker 1>in the past. Are you proud of this budget.

0:16:31.680 --> 0:16:33.760
<v Speaker 2>I'm really proud of this budget, and I'm proud of

0:16:33.800 --> 0:16:38.240
<v Speaker 2>it because it's difficult sometimes, in whatever line of work

0:16:38.320 --> 0:16:41.720
<v Speaker 2>you're in, it's difficult sometimes to devote the right amount

0:16:41.760 --> 0:16:45.200
<v Speaker 2>of attention to the here and now and the big

0:16:45.240 --> 0:16:47.200
<v Speaker 2>fu you know, even if it's ten or fifteen years

0:16:47.200 --> 0:16:49.480
<v Speaker 2>down the track. And the thing that I feel most

0:16:49.480 --> 0:16:51.880
<v Speaker 2>confident about and proud us about in this budget is

0:16:51.920 --> 0:16:54.280
<v Speaker 2>the way that we've said there are two jobs in

0:16:54.280 --> 0:16:56.920
<v Speaker 2>this budget, not just one, and they're both important. The

0:16:56.920 --> 0:16:59.680
<v Speaker 2>first one is super important in the here and now,

0:16:59.800 --> 0:17:02.600
<v Speaker 2>help people with these cost living pressures, but to not

0:17:03.040 --> 0:17:06.320
<v Speaker 2>neglect our intergenerational responsibilities at the same time trying to

0:17:06.320 --> 0:17:09.000
<v Speaker 2>build an economy which is making a great contribution to

0:17:09.080 --> 0:17:12.760
<v Speaker 2>the net zero transformation. And to be able to do

0:17:12.800 --> 0:17:14.760
<v Speaker 2>both of those things in the see it come together

0:17:15.080 --> 0:17:17.040
<v Speaker 2>and what I hope other people will see as a

0:17:17.080 --> 0:17:18.960
<v Speaker 2>kind of a coherent fashion. You know, That's what I'm

0:17:18.960 --> 0:17:19.320
<v Speaker 2>proud of.

0:17:21.480 --> 0:17:23.119
<v Speaker 1>Treasurer. Thanks so much for your time today.

0:17:23.520 --> 0:17:25.119
<v Speaker 2>I really appreciate the chat. Thanks very much.

0:17:42.920 --> 0:17:45.359
<v Speaker 1>Also in the News today, one of the country's biggest

0:17:45.400 --> 0:17:49.560
<v Speaker 1>suppliers of digital prescriptions for medication has been hacked, with

0:17:49.680 --> 0:17:53.240
<v Speaker 1>both personal and health data of Australians being ransomed by

0:17:53.359 --> 0:17:59.160
<v Speaker 1>the hackers. Medi Securer identified itself after Australia's National Cybersecurity

0:17:59.200 --> 0:18:03.400
<v Speaker 1>Coordinator Michie McGinnis confirmed that a major Australian health services

0:18:03.440 --> 0:18:06.960
<v Speaker 1>company had been attacked, and Labour and the Coalition are

0:18:07.040 --> 0:18:10.120
<v Speaker 1>voted together in the Senate to pass a motion condemning

0:18:10.160 --> 0:18:13.480
<v Speaker 1>the phrase from the river to the sea, Palestine will

0:18:13.520 --> 0:18:16.639
<v Speaker 1>be free after a Labour senator used the phrase in

0:18:16.680 --> 0:18:20.280
<v Speaker 1>a statement that broke ranks with the government. WA Senator

0:18:20.320 --> 0:18:23.640
<v Speaker 1>Fatima Payman gave a statement on Wednesday night to SBS

0:18:23.680 --> 0:18:27.080
<v Speaker 1>News saying that after feeling uneasy about the government's position,

0:18:27.600 --> 0:18:30.800
<v Speaker 1>she wanted to say publicly that quote this is a

0:18:30.840 --> 0:18:35.000
<v Speaker 1>genocide and we need to stop pretending otherwise. Seven Am

0:18:35.160 --> 0:18:38.080
<v Speaker 1>is a daily show from Schwartz Media and The Saturday Paper.

0:18:38.359 --> 0:18:42.400
<v Speaker 1>It's produced by Kara Jensen, McKinnon, Shane Anderson and Zalton Fecho.

0:18:42.840 --> 0:18:46.399
<v Speaker 1>Our senior producer is Chris Ngaid. Our Technical producer is

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<v Speaker 1>Atticus Bastow. Our editor is Scott Mitchell. Sarah McVie is

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<v Speaker 1>our head of audio. Eric Jensen is our editor in chief.

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