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Speaker 1: Well, we're going to change things up a little bit

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Speaker 1: as the Federal Treasurer Jim Charmers is in town tomorrow

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Speaker 1: and has got a very brief window this morning to

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Speaker 1: speak to us, so let's get straight into it. Joining

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Speaker 1: us on the line is the Federal Treasurer Jim Charmers.

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Speaker 1: Good morning to your Treasurer.

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Speaker 2: Good morning Katie. How's your training game.

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Speaker 1: Training for the marathon?

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Speaker 2: Very well, very well.

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Speaker 1: Legs are a bit sore though, mate did eleven CA's

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Speaker 1: yesterday and there they're quite sore. But anyway, now you

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Speaker 1: are in the Northern Territory tomorrow to obviously speak at

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Speaker 1: the Property Council's breakfast. What's the focus for you while

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Speaker 1: you are in the territory.

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Speaker 2: Well, I'm actually hitting town today. I'll be there today

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Speaker 2: and tomorrow. Good opportunity to catch up with Chief Minister

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Speaker 2: Files and also a Treasurer law Bla. But I'll also

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Speaker 2: be addressing the business community thanks to the Property Council.

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Speaker 2: But one of the things I'm super excited about is

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Speaker 2: will be out at the CDU tomorrow to turn the

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Speaker 2: sight on the really terrific health training facility that we've

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Speaker 2: helped to fund because we think A big part of

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Speaker 2: the future of the Northern Territory is the care economy,

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Speaker 2: in addition to tourism and resources and some of your

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Speaker 2: other strengths. And because we think that the Australian economy

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Speaker 2: is going to slow up a bit in the months ahead,

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Speaker 2: it's really important that we make these investments in the

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Speaker 2: Northern Territory. The NT is front and center when it

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Speaker 2: comes to our economic plan, and so I'm looking forward

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Speaker 2: to spending a couple of days there talking with local

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Speaker 2: leaders and others about how we make these investments in

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Speaker 2: a really important part of the country.

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Speaker 1: Well, and no doubt CDU is the future for us

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Speaker 1: in terms of training and making sure that we have

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Speaker 1: got people to fill various jobs right around the territory.

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Speaker 1: One of the issues we've got though right now, which

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Speaker 1: I'm sure you are aware of, is international students. Obviously

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Speaker 1: quite a few international students traveling to the territory to study,

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Speaker 1: but a lack of accommodation for them. So can we

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Speaker 1: anticipate any kind of announcements or any assistance from the

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Speaker 1: federal goal to try to help out in this space.

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Speaker 2: Well, one of the reasons why I'm looking forward to

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Speaker 2: spending some time with the Property Council is because we've

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Speaker 2: got a big agenda when it comes to housing and

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Speaker 2: the MT. It's why we want to pass our Housing

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Speaker 2: Australia our Future Fund through the Senate so that we

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Speaker 2: can build more homes for students, but for others as well.

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Speaker 2: It's a really important thing to remember that even with

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Speaker 2: everything that's coming at us from around the world, Northern

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Speaker 2: Territory has created something like thirty six hundred jobs in

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Speaker 2: the first year of the Albanese government, and so we

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Speaker 2: need to find a place. We need to find a

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Speaker 2: way for people to live near where these jobs and

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Speaker 2: opportunities are being created, so that the Housing Australia Future Fund.

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Speaker 2: I'm working really closely with the Auturistic Treasurer Evil Lawa

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Speaker 2: on the Housing Accord, which is about getting more investment

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Speaker 2: into more homes. The budget had initiatives around tax breaks

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Speaker 2: for build to rent property, so all of this together,

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Speaker 2: in addition to our increased to rent assistance, is about

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Speaker 2: trying to make the housing market better for the people

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Speaker 2: of the Northern Territory and I'm looking forward to talking

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Speaker 2: with people about that too.

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Speaker 1: Could we see some additional funding for the Northern Territory

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Speaker 1: when it comes to student accommodation, well.

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Speaker 2: Certainly students are a big focus of the housing a court.

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Speaker 2: So what we're trying to do there either and I

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Speaker 2: is attract more investment into that area because we think

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Speaker 2: CDU is a terrific place. We can understand why people

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Speaker 2: want to come from around the world and around the

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Speaker 2: country to study at CDU, particularly when we invest in

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Speaker 2: health training facilities like we're doing. And so in the

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Speaker 2: housing accord, one of the things we've been speaking with

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Speaker 2: the superannuation funds and others about is how do we

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Speaker 2: get more investment in funding, how do we get more

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Speaker 2: investment in housing for students so they can live near

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Speaker 2: where they study. And I'll be talking with EVA about

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Speaker 2: that in the next couple of days.

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Speaker 1: Well, we'll wait and see exactly what comes out of

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Speaker 1: those discussions. Now, true, for a cost of living, it's

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Speaker 1: one of the biggest issues across Australia right now, and

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Speaker 1: we're here in the North Territory are no different. I

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Speaker 1: know that figures were released yesterday in anglic Care Australia's

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Speaker 1: Living Costs Index. They've revealed that the grim reality facing

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Speaker 1: two point seventy five million Australians well, the lowest paid

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Speaker 1: workers and their families. A full time worker earning a

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Speaker 1: minimum wage has just fifty seven dollars left after essential

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Speaker 1: weekly expenses, while a family of four on the same

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Speaker 1: rate has only got seventy three dollars remaining. That's what

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Speaker 1: this new analysis has shown what's being done to try

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Speaker 1: to bring down the cost of living for Australians, but

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Speaker 1: particularly here in the territory.

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Speaker 2: Yeah, so this is really the most important focus of

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Speaker 2: the budget we hand it down in May, is to

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Speaker 2: try and take some of this thing out of these

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Speaker 2: cost of living pressures, because we do understand that Territorians

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Speaker 2: are under the pump. And so whether it's our investment

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Speaker 2: in bolk billing, whether it's our energy relief plan working

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Speaker 2: closely with the Antique government to provide some bill relief,

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Speaker 2: whether it's the biggest increased rent assistance in thirty years,

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Speaker 2: changes the job seeker and other payments, really right across

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Speaker 2: the board. What we tried to do here is recognizing

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Speaker 2: that people are under pressure, as you rightly point out,

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Speaker 2: and as that report rightly points out, and to try

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Speaker 2: and make life a little bit easier at the same

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Speaker 2: time as we manage the budget as responsibly as we can.

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Speaker 2: If you made a list of the big challenges that

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Speaker 2: we've got in the NC and around Australia, at the

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Speaker 2: very top of the list in the economy would be

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Speaker 2: these cost of living pressures. And we understand that, and

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Speaker 2: that's why we had that fifteen billion dollar cost of

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Speaker 2: living relief package in the budget.

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Speaker 1: It really feels at the moment though not only as

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Speaker 1: though those low income owners and families are struggling if

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Speaker 1: they are on those lower wages, but middle Australia is

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Speaker 1: really copying it with these interest rates continuing to rise.

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Speaker 1: I mean, it was reported yesterday in the Sydney Morning

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Speaker 1: Herald that the high interest rates are expected to make

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Speaker 1: the Australian economy one of the worst performed across the

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Speaker 1: Asia Pacific over the next two years. The concern here is,

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Speaker 1: of course, the lagging effect of previous interest rate increases.

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Speaker 1: So what work is sort of being done right now

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Speaker 1: to really try to combat this because the fact of

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Speaker 1: the matter is we're expecting further interest rate rises. Is

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Speaker 1: the impression that I'm getting, You've got a lot of

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Speaker 1: people really sort of hanging on for dear life with

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Speaker 1: their mortgages.

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Speaker 2: Yeah, I understand that too, Katie. I mean, first of all,

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Speaker 2: the first part of your question about wages, I mean

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Speaker 2: this is the big reason why we supported and welcome

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Speaker 2: a decent increase in the minimum wage, but also why

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Speaker 2: you know, whether it's agecare workers or in other industries,

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Speaker 2: we are trying to get wages growing in a responsible

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Speaker 2: and sustainable way. Again, they've been too stagnant for too

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Speaker 2: long in our economy. And on interest rates, I think

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Speaker 2: it's true that when interest rates go up it does

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Speaker 2: make life a lot harder for people right throughout Middle Australia.

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Speaker 2: There's no doubt about that. And your right to point

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Speaker 2: out that the decisions taken by the independent Reserve Bank,

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Speaker 2: they put pressure on people and on the economy with

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Speaker 2: a lag and so the impact is fully felt. Well

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Speaker 2: it felt immediately by people with a mortgage, but it

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Speaker 2: takes a little bit longer for the impacts to be

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Speaker 2: felt in the economy. And so these are the sorts

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Speaker 2: of things that the Reserve Bank bollard ways up. I

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Speaker 2: try not the second guests or preempt decisions that they

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Speaker 2: might take in the future. My job is a bit

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Speaker 2: different there, and they're responsible for interest rates. I'm responsible

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Speaker 2: for the budget, and in the budget we're trying to

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Speaker 2: provide that cost of living relief without making this inflation

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Speaker 2: challenge even worse.

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Speaker 1: How big a balancing act is it though for you

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Speaker 1: at the moment as the Treasurer of Australia to really

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Speaker 1: try your best to not see the country go into recession.

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Speaker 2: Well, I think it's important to remember that both the

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Speaker 2: Treasury and the Reserve Banks the forecasts for the economy

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Speaker 2: will that it will continue to grow. But I've tried

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Speaker 2: to be really upfront with people the whole time i've

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Speaker 2: been Treasurer, and I want to be upfront with your

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Speaker 2: listeners today as well, Katie, and so that we do

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Speaker 2: expect the Australian economy to slow considerably. That's what happens

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Speaker 2: when you have all of these interest rate rises which

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Speaker 2: began before the election and continued afterwards, and that's what

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Speaker 2: happens when you've got a pretty substantial slow down in

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Speaker 2: the global economy as well. And we're not immune from that.

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Speaker 2: And so we've been upfront and said we expect the

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Speaker 2: economy to slow. That's why the budget was about trying

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Speaker 2: to make life a little bit easier for people. At

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Speaker 2: the same time as we invest in ways to grow

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Speaker 2: our economy out of this slowdown, and again there's infrastructure

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Speaker 2: investment in the Northern Territory that some of the things

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Speaker 2: we've already talked about about, investing in the care economy

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Speaker 2: and in other ways, because we want to make sure

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Speaker 2: that this slowdown that we're expecting in our economy and

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Speaker 2: in the global economy, we want to get people through

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Speaker 2: to the other side, and in doing that, we want

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Speaker 2: to make Darwin and the Northern Territory a big part

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Speaker 2: of the story of an economy which is as resilient

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Speaker 2: as possible.

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Speaker 1: Well, and it is. It's a tough juggle, right, I mean,

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Speaker 1: even when we're talking about housing just a moment ago,

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Speaker 1: talking about wages, but then you know, talking about people

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Speaker 1: with mortgages and some people really being on the brink,

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Speaker 1: you know, of going bright to put it really bluntly,

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Speaker 1: and what's going to be the situation for them in

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Speaker 1: terms of trying to hang on to their mortgages and

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Speaker 1: then needing somewhere to live if they're not able to.

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Speaker 2: Yeah, So on this, Katie, I wanted your listeners to

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Speaker 2: know as well. I've spoken to all of the CEOs

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Speaker 2: of the major banks in the aftermath of that most

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Speaker 2: recent rate rise, and what I wanted to convey to people,

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Speaker 2: and what they want to convey to people is if

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Speaker 2: you are in trouble with your mortgage, the best thing

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Speaker 2: you can do is engage your bank as soon as possible.

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Speaker 2: They do have provisions in place and people in place

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Speaker 2: to try and help people get through a difficult patch.

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Speaker 2: There's a range of different ways that they can try

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Speaker 2: and help you, and so i'd encourage anyone who's listening

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Speaker 2: to the show this morning, if these rate risers are

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Speaker 2: making you fear that you can't make your repayments, the

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Speaker 2: best thing you can do is engage early, because there's

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Speaker 2: a number of things that the banks are prepared to

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Speaker 2: do to try and help you get to the other

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Speaker 2: side of what is a difficult period.

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Speaker 1: Treasure. Let's talk about the Northern Territory specifically right now.

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Speaker 1: We know that there is obviously plenty of issues that

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Speaker 1: we're facing. Cost of living is an enormous concern for

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Speaker 1: a lot of people, as is crime. But the issue

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Speaker 1: of crime in Alice Springs has been on the agenda

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Speaker 1: for some time. The Northern Territory government continues to call

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Speaker 1: for needs based funding when it comes to domestic violence,

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Speaker 1: because we know that domestic violence is having a huge

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Speaker 1: impact when we talk about police resourcing, the number of

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Speaker 1: call outs they're getting each and every day. Is the

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Speaker 1: federal government and looking at providing needs based funding when

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Speaker 1: it comes to domestic violence.

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Speaker 2: Well, what we've shown, i think Katie, in all of

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Speaker 2: the discussions we've had with the Northern Territory government and

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Speaker 2: also on the ground in our springs as well, is

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Speaker 2: we are prepared to help fund addressing some of these

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Speaker 2: entrenched challenges that we have in communities like Alice and

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Speaker 2: the two hundred and fifty million dollar investment that we

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Speaker 2: announced not that long ago, we're rolling that out and

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Speaker 2: obviously part of that is around justice and law and order,

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Speaker 2: trying to keep people safe. And so my colleague Linda Bernie,

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Speaker 2: the Prime Minister, has certainly engaged on this and other

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Speaker 2: colleague as well. You know, we've tried to listen to

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Speaker 2: the territory government and also the people on the ground

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Speaker 2: and provide the funding that is needed. Obviously those conversations

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Speaker 2: are always ongoing, but we've own that we are prepared

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Speaker 2: to put serious Commonwealth money into improving the situation on

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Speaker 2: the ground.

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Speaker 1: So I mean, obviously there's been an enormous investment in

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Speaker 1: terms of that, more than two hundred million dollars, but

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Speaker 1: it doesn't sound as though there is going to be

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Speaker 1: a change in the way that things have funded to

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Speaker 1: a needs based model for the territory. When it comes

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Speaker 1: to domestic violence, well.

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Speaker 2: We're certainly funding the needs on the ground as we

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Speaker 2: understand them and as we see them. And even separate

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Speaker 2: to that two hundred and fifty million dollar investment, specifically

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Speaker 2: in Central Australia, we've got big, well funded programs when

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Speaker 2: it comes to domestic and family violence as well, and

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Speaker 2: so obviously the Northern Territory is entitled to part of

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Speaker 2: that funding as well. And so I guess what I'm

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Speaker 2: trying to say, Katie, is that we've shown that we're

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Speaker 2: prepared to be try and be part of a solution here. Obviously,

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Speaker 2: those conversations are ongoing. I get to work with Evil Lawla,

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Speaker 2: who's a terrific treasurer up there, and Chief Minister Files

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Speaker 2: as well. We understand the challenges. We're doing our best

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Speaker 2: to listen and we're funding programs where we can no

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Speaker 2: doubt there will be calls for more funding in different areas.

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Speaker 2: Over time, we risten respectfully and we do what we

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Speaker 2: can well.

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Speaker 1: Treasure Jim Charmers, Federal Treasurer, we really appreciate your time

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Speaker 1: this morning. Thanks very much for taking the time to

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Speaker 1: have a chat to us ahead of your trip to

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Speaker 1: the territory.

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Speaker 2: I really appreciate it. Katie, thanks very much.

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Speaker 1: Thank you,