WEBVTT - Australia's gender superannuation gap

0:00:00.480 --> 0:00:04.480
<v Speaker 1>Already and this is the Daily os.

0:00:05.120 --> 0:00:06.840
<v Speaker 2>Oh, now it makes sense.

0:00:14.760 --> 0:00:17.439
<v Speaker 3>Good morning and welcome to the Daily Ours. It's Monday,

0:00:17.480 --> 0:00:18.680
<v Speaker 3>the eighth of September.

0:00:18.840 --> 0:00:20.880
<v Speaker 2>I'm Emma Gillespie, I'm Sam Kluski.

0:00:21.239 --> 0:00:25.279
<v Speaker 3>Australian men and women are retiring on average with substantially

0:00:25.440 --> 0:00:29.240
<v Speaker 3>different superannuation balances. Now there's a push in Canberra to

0:00:29.320 --> 0:00:31.880
<v Speaker 3>tackle what's known as the gender super gap.

0:00:32.320 --> 0:00:35.280
<v Speaker 2>Last week, Liberal Senator Jane Hume introduced a bill.

0:00:35.120 --> 0:00:38.160
<v Speaker 3>That would allow couples to split their super without facing

0:00:38.200 --> 0:00:41.560
<v Speaker 3>additional taxes, with the goal of improving financial outcomes for

0:00:41.640 --> 0:00:42.720
<v Speaker 3>women and gender.

0:00:42.479 --> 0:00:44.479
<v Speaker 2>Equity among aging Australians.

0:00:44.720 --> 0:00:46.880
<v Speaker 3>In today's deep Dive, we'll give you a snapshot of

0:00:46.880 --> 0:00:50.440
<v Speaker 3>where Australia's supergap is at and explain everything you need

0:00:50.479 --> 0:00:53.640
<v Speaker 3>to know about this proposed legislation. We'll get into that

0:00:53.800 --> 0:00:55.880
<v Speaker 3>right after a quick message from today's sponsor.

0:01:00.120 --> 0:01:03.840
<v Speaker 1>What an interesting topic to discuss. I feel like superannuation.

0:01:03.960 --> 0:01:06.399
<v Speaker 1>It's one of those things that we know is coming many,

0:01:06.440 --> 0:01:08.880
<v Speaker 1>many decades away for most of us and for most

0:01:08.880 --> 0:01:12.000
<v Speaker 1>of us listening. But the decisions that are made on

0:01:12.040 --> 0:01:14.600
<v Speaker 1>how it works now will really make an impact in

0:01:14.640 --> 0:01:17.560
<v Speaker 1>our later years. So why don't we start right at

0:01:17.560 --> 0:01:22.440
<v Speaker 1>the basics, give me the elevator pitch for superannuation in Australia.

0:01:22.680 --> 0:01:26.720
<v Speaker 3>Yes, So super is money set aside for retirement from

0:01:26.880 --> 0:01:31.399
<v Speaker 3>your pay. Basically, your employer has to make mandatory contributions

0:01:31.520 --> 0:01:34.520
<v Speaker 3>out of your salary. But in most cases this is

0:01:34.560 --> 0:01:37.960
<v Speaker 3>not money that you can just access willy nilly. Most

0:01:37.959 --> 0:01:39.199
<v Speaker 3>of us won't be able to get.

0:01:39.040 --> 0:01:41.039
<v Speaker 2>This money until we turn sixty.

0:01:41.720 --> 0:01:45.319
<v Speaker 3>Every employer in Australia, like I said, is legally required.

0:01:44.959 --> 0:01:47.160
<v Speaker 2>To make super contributions for their staff.

0:01:47.560 --> 0:01:49.920
<v Speaker 3>Case in point, you Sam, as a co founder, you

0:01:49.960 --> 0:01:53.760
<v Speaker 3>would be all over this. The whole system basically is

0:01:53.800 --> 0:01:57.960
<v Speaker 3>designed so that when Ossie's retire we can support ourselves

0:01:57.960 --> 0:02:01.760
<v Speaker 3>without putting too much strain on welfare payments and the

0:02:01.760 --> 0:02:04.680
<v Speaker 3>welfare system so things like the aged pension. But the

0:02:04.720 --> 0:02:07.440
<v Speaker 3>gender gap when it comes to super is significant. So

0:02:07.520 --> 0:02:11.320
<v Speaker 3>in the years approaching retirement age, the gender supergap can

0:02:11.360 --> 0:02:15.359
<v Speaker 3>be anywhere between twenty two and thirty five percent. But

0:02:15.520 --> 0:02:18.640
<v Speaker 3>on average, women in Australia right now are retiring with

0:02:18.760 --> 0:02:22.720
<v Speaker 3>about twenty five percent less super annuation than men, and

0:02:22.760 --> 0:02:26.880
<v Speaker 3>that translates to an estimated fifty two thousand dollars less

0:02:26.919 --> 0:02:30.720
<v Speaker 3>on average for women entering retirement. So the median superbalance

0:02:30.800 --> 0:02:34.160
<v Speaker 3>for men aged sixty to sixty four is over two

0:02:34.200 --> 0:02:37.120
<v Speaker 3>hundred and four thousand dollars, whereas for women in that

0:02:37.200 --> 0:02:40.680
<v Speaker 3>same group it's about one hundred and forty seven thousand dollars.

0:02:40.800 --> 0:02:46.560
<v Speaker 1>That's a pretty significant gap. It's definitely one that surprised

0:02:46.560 --> 0:02:50.480
<v Speaker 1>me when you've rolled out those numbers. Why exactly is

0:02:50.560 --> 0:02:51.400
<v Speaker 1>that gap there?

0:02:51.720 --> 0:02:55.720
<v Speaker 3>Look, there are many reasons and they're all quite interconnected,

0:02:56.040 --> 0:02:59.720
<v Speaker 3>but the biggest factor for Australia's supergap really comes down

0:02:59.760 --> 0:03:02.560
<v Speaker 3>to the fact that women are more likely to take

0:03:02.639 --> 0:03:05.480
<v Speaker 3>time out of the workforce to be the primary care

0:03:05.800 --> 0:03:09.560
<v Speaker 3>for young children. So that can include long stretches that

0:03:09.600 --> 0:03:13.600
<v Speaker 3>are career breaks, that can include maternity leave, and basically

0:03:13.600 --> 0:03:17.200
<v Speaker 3>there's this compounding effect created by that where not only

0:03:17.280 --> 0:03:20.760
<v Speaker 3>women are missing out on super contributions during their time

0:03:20.800 --> 0:03:23.960
<v Speaker 3>away from work, but they're also missing out on the

0:03:24.040 --> 0:03:28.520
<v Speaker 3>investment returns on those contributions over several decades. So there

0:03:28.560 --> 0:03:32.000
<v Speaker 3>are kind of many revenue streams that are impacted by this.

0:03:32.360 --> 0:03:35.640
<v Speaker 1>And the point there is that a dollar now into

0:03:35.640 --> 0:03:39.400
<v Speaker 1>your superannuation account that gets invested by superfund, and that

0:03:39.440 --> 0:03:42.600
<v Speaker 1>dollar probably could be four or five dollars when you retire.

0:03:42.600 --> 0:03:43.240
<v Speaker 2>Exactly, got it.

0:03:43.640 --> 0:03:46.760
<v Speaker 3>Women are also more likely to work part time than men,

0:03:46.880 --> 0:03:49.880
<v Speaker 3>so that impacts their earning power, which impacts their super

0:03:49.920 --> 0:03:53.120
<v Speaker 3>earning power. And they're also more likely to take more

0:03:53.160 --> 0:03:55.320
<v Speaker 3>time out of paid work than men to care for

0:03:55.440 --> 0:03:58.760
<v Speaker 3>elderly relatives. So there is this kind of gender care

0:03:58.880 --> 0:04:02.680
<v Speaker 3>gap as well. But you know, when we're talking super

0:04:02.880 --> 0:04:05.640
<v Speaker 3>pay gaps, it has to come from as well, a

0:04:05.800 --> 0:04:09.120
<v Speaker 3>broader gender pay gap to consider. So, on average, women

0:04:09.160 --> 0:04:12.240
<v Speaker 3>earn nearly twenty three percent less than men and are

0:04:12.360 --> 0:04:16.280
<v Speaker 3>generally underrepresented in management. So women have this pay gap.

0:04:16.320 --> 0:04:19.320
<v Speaker 3>They also have more limits on their opportunities to make

0:04:19.680 --> 0:04:22.800
<v Speaker 3>biggert salaries. And I guess what you need to know

0:04:22.960 --> 0:04:25.320
<v Speaker 3>is that in Australia, for every dollar on average that

0:04:25.320 --> 0:04:28.320
<v Speaker 3>a man makes, women earn seventy eight cents. And since

0:04:28.320 --> 0:04:31.279
<v Speaker 3>SUPER is calculated as a percentage of your salary, lower

0:04:31.320 --> 0:04:35.880
<v Speaker 3>wages mean proportionally smaller SUPER contributions over a working lifetime.

0:04:36.160 --> 0:04:38.039
<v Speaker 1>And so we talk a lot about closing that gender

0:04:38.080 --> 0:04:41.600
<v Speaker 1>pay gap and the various initiatives that are attempting over

0:04:41.640 --> 0:04:44.159
<v Speaker 1>the last kind of I'd say thirty forty years trying

0:04:44.160 --> 0:04:46.000
<v Speaker 1>to close that gap. Ye, but what then are the

0:04:46.040 --> 0:04:49.359
<v Speaker 1>longer term impacts of the gender super gap.

0:04:49.520 --> 0:04:53.240
<v Speaker 3>Yeah, So, apart from the obvious kind of gender equity

0:04:53.360 --> 0:04:55.640
<v Speaker 3>argument here, you know what is right and fair, how

0:04:55.680 --> 0:04:59.640
<v Speaker 3>do we improve outcomes for all Australians, including women, to

0:04:59.720 --> 0:05:04.160
<v Speaker 3>make things better and fairer. There's also an important financial

0:05:04.240 --> 0:05:07.960
<v Speaker 3>and welfare strain that comes from a super gap. So

0:05:08.640 --> 0:05:13.120
<v Speaker 3>individuals with low superbalancers are more likely to need the

0:05:13.200 --> 0:05:16.440
<v Speaker 3>age pension in retirement. So if you don't have a

0:05:16.440 --> 0:05:19.480
<v Speaker 3>healthy super you're going to need welfare assistance that is

0:05:19.600 --> 0:05:22.240
<v Speaker 3>at a cost to the government and the taxpayer. And

0:05:22.279 --> 0:05:24.360
<v Speaker 3>I guess it's not really a surprise then to know

0:05:24.440 --> 0:05:27.400
<v Speaker 3>that women make up around fifty five to fifty six

0:05:27.440 --> 0:05:30.719
<v Speaker 3>percent of aged pension recipients, so we have an aged

0:05:30.760 --> 0:05:34.800
<v Speaker 3>pension gender gap. Plus women live longer than men, that

0:05:34.960 --> 0:05:37.200
<v Speaker 3>is a fact. On average, women do live longer, so

0:05:37.279 --> 0:05:39.720
<v Speaker 3>you could argue that means, you know, women need even

0:05:39.760 --> 0:05:42.960
<v Speaker 3>more cash when they retire, if not equal to men,

0:05:43.120 --> 0:05:45.600
<v Speaker 3>but more superman men to ensure that they can actually

0:05:45.880 --> 0:05:47.800
<v Speaker 3>support themselves for the rest of their lives.

0:05:48.080 --> 0:05:50.120
<v Speaker 1>And so we're talking about this on the pod today

0:05:50.320 --> 0:05:54.320
<v Speaker 1>because liberal sentencor Jane Hume has put forward a solution.

0:05:54.880 --> 0:05:58.400
<v Speaker 1>She's come up with an idea to try and narrow

0:05:58.560 --> 0:06:00.960
<v Speaker 1>this gender super gap talk me through it.

0:06:01.200 --> 0:06:03.960
<v Speaker 3>So, Jane Hume has put forward this bill that would

0:06:04.000 --> 0:06:08.600
<v Speaker 3>allow couples to split their superannuation savings with no additional

0:06:08.640 --> 0:06:09.560
<v Speaker 3>tax penalties.

0:06:10.000 --> 0:06:10.640
<v Speaker 2>Now, under this.

0:06:10.640 --> 0:06:14.480
<v Speaker 3>Proposal, the partner with the most super could transfer up

0:06:14.480 --> 0:06:17.720
<v Speaker 3>to two million dollars from their fund to their partners

0:06:17.880 --> 0:06:22.120
<v Speaker 3>right now. Currently there are pretty significant tax implications for

0:06:22.320 --> 0:06:25.599
<v Speaker 3>most super transfers, so this would get rid of that

0:06:25.720 --> 0:06:29.320
<v Speaker 3>make it easier, cheaper, faster to transfer between funds. Jane

0:06:29.400 --> 0:06:32.799
<v Speaker 3>Hume calls it a simple and voluntary mechanism for fairness

0:06:32.839 --> 0:06:36.120
<v Speaker 3>to tackle one of the most persistent and unfair challenges

0:06:36.279 --> 0:06:38.159
<v Speaker 3>in our super annuation system.

0:06:38.520 --> 0:06:40.120
<v Speaker 2>This would probably.

0:06:39.760 --> 0:06:43.960
<v Speaker 3>Be most helpful or particularly helpful for a traditional family

0:06:44.000 --> 0:06:46.680
<v Speaker 3>set up where we've got a partner who's worked full

0:06:46.720 --> 0:06:50.000
<v Speaker 3>time for their whole careers while another partner has been

0:06:50.040 --> 0:06:52.920
<v Speaker 3>a primary career for their children or for elderly relatives

0:06:52.960 --> 0:06:56.159
<v Speaker 3>and have missed out on super there So, under this plan,

0:06:56.400 --> 0:07:00.400
<v Speaker 3>both partners in this instance would enter retirement with more

0:07:00.520 --> 0:07:05.480
<v Speaker 3>balanced savings improving financial security for the lower earning partner.

0:07:06.080 --> 0:07:09.160
<v Speaker 3>But it's not a perfect plan. Critics have noted that

0:07:09.240 --> 0:07:14.239
<v Speaker 3>this proposal doesn't include any plans to overhaul workplace inequalities

0:07:14.680 --> 0:07:18.840
<v Speaker 3>or equalize caring responsibilities. Interesting, and the legislation really is

0:07:18.880 --> 0:07:21.920
<v Speaker 3>specifically designed for married or de facto couples, So you

0:07:21.960 --> 0:07:25.560
<v Speaker 3>could argue when those couples retire, they're going to be

0:07:25.600 --> 0:07:28.600
<v Speaker 3>sharing in the same super anyway, And it leaves out

0:07:28.760 --> 0:07:29.440
<v Speaker 3>single women.

0:07:29.720 --> 0:07:31.800
<v Speaker 2>We know single women retire.

0:07:31.600 --> 0:07:34.960
<v Speaker 3>With less super than men, and this legislation doesn't really

0:07:35.000 --> 0:07:36.320
<v Speaker 3>do anything for that group.

0:07:36.720 --> 0:07:39.280
<v Speaker 1>I noticed when you were introducing this to us you

0:07:39.320 --> 0:07:42.880
<v Speaker 1>are very careful to say Jane Hume's policy, not the

0:07:42.880 --> 0:07:47.840
<v Speaker 1>coalition's policy. Is there a reason for that choice of language.

0:07:48.200 --> 0:07:50.440
<v Speaker 1>And is Hume now pushing this independently?

0:07:50.720 --> 0:07:53.480
<v Speaker 2>Yes, so this is actually a private bill.

0:07:53.560 --> 0:07:57.280
<v Speaker 3>This is a proposal from Jane Hume, a Liberal senator,

0:07:57.560 --> 0:08:00.600
<v Speaker 3>but that doesn't mean it is an official policy position

0:08:00.720 --> 0:08:03.280
<v Speaker 3>being put forward by the coalition. So she is pressing

0:08:03.280 --> 0:08:06.240
<v Speaker 3>ahead with this agenda independently, as you suggested, Sam, But

0:08:06.360 --> 0:08:08.640
<v Speaker 3>she has said that she's raised the policy in the

0:08:08.720 --> 0:08:11.520
<v Speaker 3>Nationals party room and that she does have some support

0:08:11.680 --> 0:08:15.400
<v Speaker 3>from MPs and senators. They've not been named, though. Hume

0:08:15.600 --> 0:08:18.280
<v Speaker 3>has conceded that she's not really expecting this issue to

0:08:18.360 --> 0:08:21.520
<v Speaker 3>be high on the agenda at the upcoming federal election,

0:08:22.080 --> 0:08:25.080
<v Speaker 3>but she would advocate for the policy if the coalition

0:08:25.400 --> 0:08:28.320
<v Speaker 3>wins government. So to be very clear, that doesn't mean

0:08:28.320 --> 0:08:31.840
<v Speaker 3>the coalition would automatically adopt this policy. It's just something

0:08:31.880 --> 0:08:33.080
<v Speaker 3>that Hume would push for.

0:08:33.040 --> 0:08:36.160
<v Speaker 1>And she's planted that seed pretty early because the next

0:08:36.200 --> 0:08:38.079
<v Speaker 1>federal election is still kind of what two and a

0:08:38.120 --> 0:08:41.240
<v Speaker 1>half years away exactly, giving her a long runway into

0:08:41.280 --> 0:08:44.920
<v Speaker 1>turning this into a discussion for the country. Does it

0:08:44.960 --> 0:08:47.800
<v Speaker 1>have any opposition as an idea? Are there other ideas

0:08:47.800 --> 0:08:51.240
<v Speaker 1>on the table when it comes to leveling out this

0:08:51.520 --> 0:08:52.560
<v Speaker 1>super gap? Yeah.

0:08:52.720 --> 0:08:56.559
<v Speaker 3>The Albanezy government has taken a different approach to try

0:08:56.559 --> 0:08:59.560
<v Speaker 3>to resolve this gap, and one of the big policy

0:08:59.600 --> 0:09:03.160
<v Speaker 3>areas is relating to changes to paid parental leave. So

0:09:03.800 --> 0:09:08.480
<v Speaker 3>this year we saw superannuation added to paid parental leave.

0:09:08.600 --> 0:09:11.320
<v Speaker 3>So for the first time, if you receive paid parental

0:09:11.400 --> 0:09:15.160
<v Speaker 3>leave entitlements, twelve percent super will be paid on top

0:09:15.360 --> 0:09:18.240
<v Speaker 3>of that. So that came in from one July this year.

0:09:18.400 --> 0:09:21.240
<v Speaker 1>And if you think about the core reasons that you

0:09:21.320 --> 0:09:23.680
<v Speaker 1>gave earlier in terms of why that gap exists and

0:09:23.720 --> 0:09:26.640
<v Speaker 1>the time off work and some of those reasons. That's

0:09:26.720 --> 0:09:28.720
<v Speaker 1>kind of countering that head on.

0:09:29.160 --> 0:09:31.400
<v Speaker 3>Yeah, and Labour says essentially that this is going to

0:09:31.400 --> 0:09:34.360
<v Speaker 3>boost the superbalances of around one hundred and eighty families

0:09:34.400 --> 0:09:37.120
<v Speaker 3>each year. Paid parental leave does go up to twenty

0:09:37.160 --> 0:09:40.400
<v Speaker 3>six weeks next year and from that point these super

0:09:40.440 --> 0:09:45.000
<v Speaker 3>contributions will be worth more than three thousand dollars per person.

0:09:45.520 --> 0:09:49.000
<v Speaker 3>The government has also legislated the publication of gender pay

0:09:49.040 --> 0:09:52.839
<v Speaker 3>gaps for large companies, so the Workplace Gender Equality Agency

0:09:53.360 --> 0:09:56.960
<v Speaker 3>now reports very transparently on pay gaps. There are mandatory

0:09:57.040 --> 0:10:00.440
<v Speaker 3>reporting standards for all employers that give us us a

0:10:00.480 --> 0:10:03.240
<v Speaker 3>better sense of where the pay gap is at and

0:10:03.280 --> 0:10:06.160
<v Speaker 3>you know, put more pressure on employers to address disparities.

0:10:06.480 --> 0:10:08.320
<v Speaker 1>So it's kind of a bit of a multi pronged

0:10:08.559 --> 0:10:11.720
<v Speaker 1>attack from both the government and the opposition. It's clear

0:10:11.800 --> 0:10:14.080
<v Speaker 1>that both sides of the aisle are thinking about this

0:10:14.200 --> 0:10:17.880
<v Speaker 1>as a core issue. That's the political response. I'd like

0:10:17.920 --> 0:10:21.360
<v Speaker 1>to quickly turn to the industry response. The superannuation industry

0:10:21.360 --> 0:10:24.040
<v Speaker 1>itself is very powerful and has a lot of say

0:10:24.120 --> 0:10:27.400
<v Speaker 1>in how these types of programs roll out. Have we

0:10:27.440 --> 0:10:29.280
<v Speaker 1>heard from industry groups.

0:10:29.600 --> 0:10:32.400
<v Speaker 3>Yeah, so there are a couple of other ideas being

0:10:32.480 --> 0:10:35.240
<v Speaker 3>put forward. As you mentioned, this is a multi kind

0:10:35.240 --> 0:10:39.280
<v Speaker 3>of pronged approach. But the Association of Superannuation Funds of

0:10:39.320 --> 0:10:44.160
<v Speaker 3>Australia was in support of compulsory on paid parental leave.

0:10:44.240 --> 0:10:47.200
<v Speaker 3>They advocated for that before those reforms came in a

0:10:47.240 --> 0:10:51.240
<v Speaker 3>couple of months ago. And separately, the Association of super

0:10:51.240 --> 0:10:55.280
<v Speaker 3>Funds has proposed a super baby bonus. So this would

0:10:55.280 --> 0:10:58.680
<v Speaker 3>involve the government depositing five thousand dollars into the super

0:10:58.720 --> 0:11:01.680
<v Speaker 3>accounts of women and they give birth to a child.

0:11:02.120 --> 0:11:05.439
<v Speaker 3>So that's a really interesting conversation that's going on now.

0:11:05.480 --> 0:11:06.679
<v Speaker 2>From the business.

0:11:06.280 --> 0:11:10.400
<v Speaker 3>World, we have KPMG who has proposed catch up super

0:11:10.440 --> 0:11:12.160
<v Speaker 3>concessions for carers.

0:11:12.520 --> 0:11:13.880
<v Speaker 2>So these would allow people.

0:11:13.679 --> 0:11:16.800
<v Speaker 3>Who've taken time out of the workforce for caring responsibilities,

0:11:16.840 --> 0:11:20.960
<v Speaker 3>as we've discussed, to make higher contributions later when they

0:11:21.000 --> 0:11:24.760
<v Speaker 3>returned to work. So a couple of interesting conversations I

0:11:24.760 --> 0:11:26.120
<v Speaker 3>suppose ongoing.

0:11:25.880 --> 0:11:27.840
<v Speaker 1>And so give me a sense of what happens from here.

0:11:27.880 --> 0:11:30.760
<v Speaker 1>We have one member of the Opposition coming forward with

0:11:30.800 --> 0:11:34.080
<v Speaker 1>this private bill that's Jane Hume, is it likely to

0:11:34.120 --> 0:11:35.160
<v Speaker 1>become a thing?

0:11:35.600 --> 0:11:39.640
<v Speaker 3>Look, it is unlikely, as with many private bills, for

0:11:39.760 --> 0:11:42.000
<v Speaker 3>this to become law, it would need the support of

0:11:42.040 --> 0:11:45.439
<v Speaker 3>the government, and that seems unlikely at this stage given

0:11:45.480 --> 0:11:48.760
<v Speaker 3>how recently they introduced SUPER on paid parental leave, and

0:11:48.840 --> 0:11:53.440
<v Speaker 3>also given how recently SUPER contributions increased. So Labour has

0:11:53.480 --> 0:11:56.920
<v Speaker 3>its own approach clearly on this and they might see

0:11:56.920 --> 0:12:00.000
<v Speaker 3>that as sufficient for now. So I don't think Jane

0:12:00.160 --> 0:12:02.520
<v Speaker 3>Hume is going to get this one over the line immediately,

0:12:02.960 --> 0:12:06.480
<v Speaker 3>but there's certainly an ongoing discussion around what we can

0:12:06.559 --> 0:12:09.199
<v Speaker 3>do to improve outcomes for women when they retire.

0:12:09.679 --> 0:12:12.439
<v Speaker 1>I think these topics are good when they don't necessarily

0:12:12.440 --> 0:12:15.600
<v Speaker 1>correlate directly to a law that's here and now, but

0:12:16.040 --> 0:12:19.320
<v Speaker 1>keeps conversations moving, keeps us thinking of options that are

0:12:19.320 --> 0:12:22.320
<v Speaker 1>out there on the table, and I think it's probably

0:12:22.360 --> 0:12:24.520
<v Speaker 1>a case of politics working well, which is quite rare.

0:12:25.040 --> 0:12:27.679
<v Speaker 1>Fancy that and that's all we've got for you on

0:12:27.720 --> 0:12:30.120
<v Speaker 1>today's episode of The Daily Os. We're going to be

0:12:30.160 --> 0:12:33.240
<v Speaker 1>back in the afternoon with your headlines. Until then, have

0:12:33.360 --> 0:12:39.400
<v Speaker 1>a great start to the week. My name is Lily

0:12:39.400 --> 0:12:42.840
<v Speaker 1>Maddon and I'm a proud Arunda Bungelung Kalguttin woman from

0:12:42.840 --> 0:12:47.200
<v Speaker 1>Gadighl country. The Daily oz acknowledges that this podcast is

0:12:47.240 --> 0:12:49.720
<v Speaker 1>recorded on the lands of the Gadighl people and pays

0:12:49.720 --> 0:12:52.960
<v Speaker 1>respect to all Aboriginal and Torres Strait island and nations.

0:12:53.280 --> 0:12:56.200
<v Speaker 1>We pay our respects to the first peoples of these countries,

0:12:56.320 --> 0:13:00.199
<v Speaker 1>both past and present, and m