1 00:00:00,080 --> 00:00:03,279 Speaker 1: Now we know this well. One of these senior leaders 2 00:00:03,279 --> 00:00:06,480 Speaker 1: from the nation's corporate cop Assek is in Darwin this 3 00:00:06,519 --> 00:00:10,000 Speaker 1: week co hosting a forum with Angler Care Int really 4 00:00:10,039 --> 00:00:13,840 Speaker 1: focusing on the cost of living. Crisis. Commissioner Alan Kirkland 5 00:00:14,000 --> 00:00:17,680 Speaker 1: is going to share expertise on the financial challenges facing 6 00:00:17,760 --> 00:00:20,759 Speaker 1: territory ines and also provide some advice on ways to 7 00:00:20,800 --> 00:00:24,000 Speaker 1: stay afloat during those tough economic times. And he joins 8 00:00:24,040 --> 00:00:26,360 Speaker 1: me in the studio right now. Good morning to you Allen, 9 00:00:26,520 --> 00:00:29,440 Speaker 1: morning Katie, thank you so very much for your time. 10 00:00:29,600 --> 00:00:34,440 Speaker 1: Now tell me how tough is it for Assie's right 11 00:00:34,440 --> 00:00:37,200 Speaker 1: now when it comes to cost of living, It's really tough. 12 00:00:37,240 --> 00:00:39,320 Speaker 2: When we look at the indicators. There's been a surge 13 00:00:39,320 --> 00:00:42,280 Speaker 2: of people seeing how seeking out help through the national 14 00:00:42,320 --> 00:00:44,479 Speaker 2: debt help rune in the last year. And this is 15 00:00:44,520 --> 00:00:46,640 Speaker 2: really about people who are struggling to meet their day 16 00:00:46,680 --> 00:00:49,360 Speaker 2: to day expenses. So they're finding they're paying a lot 17 00:00:49,360 --> 00:00:53,880 Speaker 2: more when they go to the supermarket checkout, but also energy, telecommunications, 18 00:00:54,000 --> 00:00:55,840 Speaker 2: all of those things that you really can't get out 19 00:00:55,840 --> 00:00:58,200 Speaker 2: of that just costs everybody has to front up to 20 00:00:58,280 --> 00:01:00,000 Speaker 2: in day to day life and they're all costing more. 21 00:01:00,120 --> 00:01:02,080 Speaker 1: Yeah, and it always feels like, I know, we all 22 00:01:02,120 --> 00:01:04,080 Speaker 1: complain that, you know, our pays don't go up in 23 00:01:04,120 --> 00:01:06,640 Speaker 1: line with our cost of living pressures, but it really 24 00:01:06,720 --> 00:01:09,520 Speaker 1: feels at the moment that those cost of living pressures 25 00:01:09,840 --> 00:01:11,640 Speaker 1: are higher than they've ever been before. 26 00:01:12,160 --> 00:01:14,760 Speaker 2: And that's what the data show is. So yeah, we are, 27 00:01:15,000 --> 00:01:18,119 Speaker 2: you know, across all those every day expenses seeing inflation. 28 00:01:18,240 --> 00:01:20,119 Speaker 2: That's not what people have seen before. And I guess, 29 00:01:20,120 --> 00:01:23,119 Speaker 2: as ask, what we're saying is we're here to help. 30 00:01:23,160 --> 00:01:25,560 Speaker 2: We've got one of the best known sources of advice 31 00:01:25,560 --> 00:01:28,520 Speaker 2: in Australia in our Money Smart website for people that 32 00:01:28,600 --> 00:01:31,080 Speaker 2: need help with how to manage their day to day expenses, 33 00:01:31,280 --> 00:01:34,160 Speaker 2: how to work out, you know, how much they might 34 00:01:34,240 --> 00:01:36,800 Speaker 2: get in savings on the interest on their savings accounts, 35 00:01:36,880 --> 00:01:39,920 Speaker 2: so work out what their interest repayments are going to be. 36 00:01:40,040 --> 00:01:42,160 Speaker 2: And those tools are all there to help people to 37 00:01:42,280 --> 00:01:44,560 Speaker 2: really be in control of their finances, because at a 38 00:01:44,600 --> 00:01:46,800 Speaker 2: time like this, it's more important than ever that you're 39 00:01:46,840 --> 00:01:49,960 Speaker 2: in control of those decisions rather than losing control. 40 00:01:50,200 --> 00:01:52,840 Speaker 1: Where can people find some of those helpful sort of 41 00:01:52,880 --> 00:01:54,920 Speaker 1: bits of info if they are in a situation where 42 00:01:54,960 --> 00:01:57,360 Speaker 1: they're feeling like things are spiraling a bit well. 43 00:01:57,360 --> 00:02:00,200 Speaker 2: A great place to start is money smart dot dot you. 44 00:02:00,400 --> 00:02:02,680 Speaker 2: It is a really well known website. Over ten point 45 00:02:02,720 --> 00:02:06,120 Speaker 2: five million Australians visited it last year. But often people 46 00:02:06,160 --> 00:02:09,720 Speaker 2: also find their way they're just searching for help online. 47 00:02:09,800 --> 00:02:12,040 Speaker 2: A search engine will take you there, but money smart 48 00:02:12,320 --> 00:02:14,359 Speaker 2: is the term for search to search for and we've 49 00:02:14,360 --> 00:02:16,920 Speaker 2: got a full range of tools. One of the really 50 00:02:16,919 --> 00:02:19,400 Speaker 2: popular ones is actually a budget planner tools. So it 51 00:02:19,480 --> 00:02:21,720 Speaker 2: helps you to look at all of the things you're spending, 52 00:02:21,720 --> 00:02:24,160 Speaker 2: whether you're spending them, paying your bills sort of weekly 53 00:02:24,240 --> 00:02:26,600 Speaker 2: or monthly or quarterly or annually, and it gets them 54 00:02:26,600 --> 00:02:28,320 Speaker 2: all into a tool that helps you to work out 55 00:02:28,520 --> 00:02:30,639 Speaker 2: where your money's going and what decisions you might be 56 00:02:30,680 --> 00:02:32,679 Speaker 2: able to make to get yourself better in control. 57 00:02:32,960 --> 00:02:35,360 Speaker 1: And as you touched on before, the tough thing at 58 00:02:35,360 --> 00:02:37,560 Speaker 1: the moment is you know you may have had a 59 00:02:37,560 --> 00:02:40,799 Speaker 1: budget for your groceries five years ago, or three years ago, 60 00:02:40,919 --> 00:02:43,880 Speaker 1: even two years ago that seemed quite adequate. Now you 61 00:02:44,000 --> 00:02:46,120 Speaker 1: go to do your food shopping and you're really not 62 00:02:46,280 --> 00:02:48,480 Speaker 1: getting what you did just a couple of years ago 63 00:02:48,639 --> 00:02:49,799 Speaker 1: for the same amount of money. 64 00:02:50,160 --> 00:02:51,880 Speaker 2: I think people are finding they have to be much 65 00:02:51,919 --> 00:02:54,679 Speaker 2: more thoughtful about every dollar that they spend. So expenses 66 00:02:54,720 --> 00:02:56,280 Speaker 2: that you might have just sort of fitted in without 67 00:02:56,320 --> 00:02:58,400 Speaker 2: really thinking about or having to pay attention to prices 68 00:02:58,400 --> 00:03:00,480 Speaker 2: in the past are now things were you might find 69 00:03:00,480 --> 00:03:02,960 Speaker 2: yourself paying a lot more. So I've been really conscious 70 00:03:02,960 --> 00:03:05,720 Speaker 2: of how you're spending money is really important. And then 71 00:03:06,000 --> 00:03:09,920 Speaker 2: for people who are in genuine financial hardship, our message 72 00:03:09,919 --> 00:03:11,760 Speaker 2: would be reach out for help, because there are great 73 00:03:11,800 --> 00:03:14,840 Speaker 2: sources of help with the financial counselors and communities across 74 00:03:14,880 --> 00:03:18,080 Speaker 2: the territory who can help you to work through where 75 00:03:18,120 --> 00:03:20,520 Speaker 2: your bills are, where your money's going, and if you 76 00:03:20,600 --> 00:03:23,639 Speaker 2: need help to reach out and negotiate a repayment plan 77 00:03:23,760 --> 00:03:26,080 Speaker 2: with your energy company or with your bank, they're. 78 00:03:25,919 --> 00:03:27,960 Speaker 1: There to help. Now, tell me what are some of 79 00:03:28,000 --> 00:03:31,200 Speaker 1: the unique challenges that we've got here in the Northern Territory. 80 00:03:31,760 --> 00:03:34,120 Speaker 2: I think one of the biggest things that people face 81 00:03:34,160 --> 00:03:36,280 Speaker 2: when it comes to cost of living is just the 82 00:03:36,320 --> 00:03:39,520 Speaker 2: fact that it's obviously a really sort of geographically laid 83 00:03:39,520 --> 00:03:42,080 Speaker 2: out territory and in lots of communities people have got 84 00:03:42,120 --> 00:03:44,720 Speaker 2: really limited choice. So you know, in other parts of 85 00:03:44,760 --> 00:03:47,560 Speaker 2: the country, people might say shop around, go to a 86 00:03:47,560 --> 00:03:49,880 Speaker 2: different bank, go to a different supermarket, but we know 87 00:03:50,000 --> 00:03:52,240 Speaker 2: that's just not a reality where lots of people live. 88 00:03:52,320 --> 00:03:54,400 Speaker 1: Well, this is a really tough part about it, you know, 89 00:03:54,480 --> 00:03:56,520 Speaker 1: and for us, even in Darwin, we feel like we 90 00:03:56,560 --> 00:03:59,000 Speaker 1: don't have a huge number of options. But then the 91 00:03:59,040 --> 00:04:01,960 Speaker 1: more regional, all the more remote you go, the more 92 00:04:02,000 --> 00:04:06,120 Speaker 1: difficult it becomes. In some communities there's literally one supermarket. 93 00:04:06,640 --> 00:04:09,200 Speaker 2: Well, that's absolutely right, and that's where asset comes in 94 00:04:09,240 --> 00:04:11,440 Speaker 2: because we're often particularly when it comes to the financial 95 00:04:11,520 --> 00:04:14,720 Speaker 2: services businesses, so the people lending money, the banks, we're 96 00:04:14,720 --> 00:04:17,640 Speaker 2: looking really carefully about how they're trust treating their customers 97 00:04:17,640 --> 00:04:21,279 Speaker 2: in those communities because if we see those institutions doing 98 00:04:21,320 --> 00:04:23,520 Speaker 2: the wrong thing by their customers, and we can take action, 99 00:04:23,600 --> 00:04:25,760 Speaker 2: and that's something we've done time and time again. 100 00:04:26,040 --> 00:04:27,880 Speaker 1: So tell me a little bit more about the forums 101 00:04:27,880 --> 00:04:29,880 Speaker 1: that are going to be happening over the coming days, 102 00:04:30,360 --> 00:04:32,039 Speaker 1: who you're meeting with or who's going to be at 103 00:04:32,080 --> 00:04:33,880 Speaker 1: those forums and what people can expect. 104 00:04:34,240 --> 00:04:36,680 Speaker 2: So the really big one tomorrow morning is with financial 105 00:04:36,720 --> 00:04:39,919 Speaker 2: counselors from across the territory. So these are people that 106 00:04:39,960 --> 00:04:42,600 Speaker 2: are funded by the government in a range of communities, 107 00:04:42,640 --> 00:04:45,880 Speaker 2: working through organizations like anglic Care and Catholic Care, and 108 00:04:45,920 --> 00:04:49,000 Speaker 2: they're there to help people who are in genuine financial difficulties. 109 00:04:49,080 --> 00:04:51,440 Speaker 2: So if you go to them, say because you can't 110 00:04:51,480 --> 00:04:54,000 Speaker 2: afford to repay your credit card or or one of 111 00:04:54,040 --> 00:04:57,080 Speaker 2: your loans, what they can do is look through all 112 00:04:57,080 --> 00:04:59,640 Speaker 2: of your bills and help you to sort through how 113 00:04:59,680 --> 00:05:01,960 Speaker 2: to get back in control of your financial life. And 114 00:05:02,000 --> 00:05:04,560 Speaker 2: they can reach out and negotiate with your bank to 115 00:05:04,640 --> 00:05:07,160 Speaker 2: delay repayments for a period of time or reduce them 116 00:05:07,160 --> 00:05:09,560 Speaker 2: for a period so that you stay in control and 117 00:05:09,640 --> 00:05:12,000 Speaker 2: you don't end up sort of being chased by debt collectors. 118 00:05:12,120 --> 00:05:14,400 Speaker 1: Now, I know the forums for Darwin and the Northern 119 00:05:14,520 --> 00:05:17,800 Speaker 1: Territory yet to get under way, but tell us are 120 00:05:17,839 --> 00:05:21,800 Speaker 1: there more people than ever before really seeking that kind 121 00:05:21,839 --> 00:05:25,520 Speaker 1: of help and you know and under juris I guess 122 00:05:25,560 --> 00:05:27,000 Speaker 1: when it comes to their finances. 123 00:05:27,320 --> 00:05:30,039 Speaker 2: So the National Debt Helpline, which is the front door 124 00:05:30,080 --> 00:05:32,279 Speaker 2: for those financial counselors that I was just talking about, 125 00:05:32,400 --> 00:05:34,440 Speaker 2: I mean, it had a surge in complaints last year, 126 00:05:34,480 --> 00:05:36,520 Speaker 2: so a big year on year increase more than thirty 127 00:05:36,520 --> 00:05:39,360 Speaker 2: percent extra callers or people reaching out via the internet 128 00:05:40,000 --> 00:05:42,400 Speaker 2: seeking assistance. And that's just a sign of how many 129 00:05:42,400 --> 00:05:44,800 Speaker 2: people are doing it tough, but we would also say 130 00:05:45,200 --> 00:05:47,240 Speaker 2: there's something good in that because we really want people 131 00:05:47,279 --> 00:05:49,680 Speaker 2: to reach out and seek help if they're in trouble, 132 00:05:49,760 --> 00:05:52,480 Speaker 2: because the best thing to do is to speak to 133 00:05:53,000 --> 00:05:55,680 Speaker 2: the businesses that you own money to, particularly if you've 134 00:05:55,800 --> 00:05:58,279 Speaker 2: got loans, to speak to the bank or the lender 135 00:05:58,279 --> 00:06:00,600 Speaker 2: as early as possible, because there are things they can do. 136 00:06:01,560 --> 00:06:03,240 Speaker 2: The longer that you sort of leave it where you 137 00:06:03,320 --> 00:06:06,240 Speaker 2: might be missing repayments, the more difficult that your situation 138 00:06:06,360 --> 00:06:08,560 Speaker 2: can be, and the harder it can be for a 139 00:06:08,560 --> 00:06:09,839 Speaker 2: financial counsel to help. 140 00:06:09,720 --> 00:06:12,240 Speaker 1: You through it. And then you know is there all 141 00:06:12,279 --> 00:06:14,640 Speaker 1: being done as well to try and help Indigenous people 142 00:06:14,640 --> 00:06:16,880 Speaker 1: in the territory if they feel as though they're potentially 143 00:06:16,880 --> 00:06:19,040 Speaker 1: being exploited or not being treated fairly. 144 00:06:19,400 --> 00:06:21,359 Speaker 2: There is a lot and that's a huge focus of 145 00:06:21,400 --> 00:06:25,000 Speaker 2: ASEX work. We work really closely with financial counselors working 146 00:06:25,040 --> 00:06:29,599 Speaker 2: in Indigenous communities across the territory and we've shown that 147 00:06:29,600 --> 00:06:32,640 Speaker 2: we're willing to take action. So over time we've taken 148 00:06:32,680 --> 00:06:36,280 Speaker 2: action against acbf u PLA, the funeral insurer that ripped 149 00:06:36,279 --> 00:06:39,280 Speaker 2: off lots of people. We've got a stop order at 150 00:06:39,279 --> 00:06:41,920 Speaker 2: the moment against an urban rampage, which is a store 151 00:06:42,320 --> 00:06:45,479 Speaker 2: there was using center pay as a way for people 152 00:06:45,480 --> 00:06:48,760 Speaker 2: to repay make repayments for goods that they'd bought. So, 153 00:06:48,800 --> 00:06:51,240 Speaker 2: where we hear that there are issues on the ground, 154 00:06:51,640 --> 00:06:53,880 Speaker 2: we're willing to step in and take action to better 155 00:06:53,880 --> 00:06:56,400 Speaker 2: protect indigenous consumers like other consumers. 156 00:06:56,480 --> 00:06:58,720 Speaker 1: Yeah, well, which has to happen, right, you know, you've 157 00:06:58,720 --> 00:07:00,320 Speaker 1: got to make sure that people aren't being take an 158 00:07:00,320 --> 00:07:03,440 Speaker 1: advantage of. Now, tell me what are your hope comes 159 00:07:03,440 --> 00:07:05,400 Speaker 1: from the forums over the coming days. 160 00:07:05,839 --> 00:07:07,560 Speaker 2: Well, for me, a lot of it's about listening. To 161 00:07:07,600 --> 00:07:11,400 Speaker 2: be honest, this is really about hearing what is actually 162 00:07:11,840 --> 00:07:14,040 Speaker 2: coming through the door for those people that are helping 163 00:07:14,040 --> 00:07:15,880 Speaker 2: people on the ground and what's different about it in 164 00:07:15,920 --> 00:07:18,800 Speaker 2: the territory. That's a really important part of what ACID 165 00:07:18,800 --> 00:07:21,600 Speaker 2: does is to understand what is happening here and how 166 00:07:21,600 --> 00:07:23,680 Speaker 2: can we help? And then the second part of it 167 00:07:23,720 --> 00:07:25,840 Speaker 2: is really to talk to people about that second part 168 00:07:25,840 --> 00:07:28,440 Speaker 2: of it, how can we help, So making sure that 169 00:07:28,480 --> 00:07:32,000 Speaker 2: people understand the range of tools online that ACID has 170 00:07:32,040 --> 00:07:35,960 Speaker 2: got to help people, and also making sure people understand 171 00:07:36,240 --> 00:07:38,520 Speaker 2: where we can take action if businesses are treading their 172 00:07:38,560 --> 00:07:39,960 Speaker 2: consumers unfairly. 173 00:07:39,920 --> 00:07:41,640 Speaker 1: So where can people go if they are keen to 174 00:07:41,680 --> 00:07:43,120 Speaker 1: find out a little bit more, if they want to 175 00:07:43,160 --> 00:07:46,000 Speaker 1: find out more about the forum as well, so. 176 00:07:45,920 --> 00:07:48,480 Speaker 2: You can reach out via ask for more information about 177 00:07:48,480 --> 00:07:51,640 Speaker 2: the forum. But in general, if you're looking for help 178 00:07:51,680 --> 00:07:53,360 Speaker 2: on any of the issues or have just been talking 179 00:07:53,360 --> 00:07:55,960 Speaker 2: about moneysmart, dot gov dot au is a great place 180 00:07:55,960 --> 00:07:59,000 Speaker 2: to start or for people in financial difficulty, the National 181 00:07:59,240 --> 00:08:01,680 Speaker 2: Debt Helpline can be reached on one eight hundred double 182 00:08:01,720 --> 00:08:02,840 Speaker 2: O seven, double O seven. 183 00:08:03,240 --> 00:08:06,400 Speaker 1: Well as a Commissioner, Alan Kirkland, I really appreciate your 184 00:08:06,440 --> 00:08:08,200 Speaker 1: time this morning, Thanks so much for joining us in 185 00:08:08,200 --> 00:08:10,320 Speaker 1: this studio. Thanks Ketty, thank you.