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Speaker 1: Good morning everybody. Welcome to the Daily ODS. It is

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Speaker 1: a very special day for all politics fans and hopefully

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Speaker 1: all TDA readers and listeners out there. Today is Budget Day.

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Speaker 1: It's the one day a year where we dive into

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Speaker 1: fiscal policy. We're sending two journalists into the budget lock

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Speaker 1: up to get the head start on the budget papers

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Speaker 1: so that when it's all released by the Treasurer they

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Speaker 1: are ready to go with their analysis. I'm going to

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Speaker 1: be joined later in the podcast by one of those

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Speaker 1: two journalists, Tom Crowley, to give us a preview of

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Speaker 1: the night of nights for politics nerds. Zara, you are

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Speaker 1: a politics nerd. Before we get into the budget, tell

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Speaker 1: us the news stories of the day.

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Speaker 2: It does feel a bit like deja vu. But residents

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Speaker 2: of North and South Lismore have been issued with a

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Speaker 2: moderate to severe flood emergency warning for the second time

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Speaker 2: in just a month. According to the SEES, rainfall totals

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Speaker 2: of up to three hundred millimeters and quote life threatening

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Speaker 2: flash flooding are possible over the next two days. However,

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Speaker 2: the Bureau though of Meteorology has said the current weather

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Speaker 2: system is not meant to be as long lasting, at

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Speaker 2: least as the one earlier this month.

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Speaker 1: And just to quick content warning, this story discusses suicide

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Speaker 1: mental health Australia. The country's peak mental health sector body

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Speaker 1: has called on the federal government to implement a suicide

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Speaker 1: reduction target of twenty five percent by twenty twenty five.

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Speaker 1: Recent Australian governments have rejected calls for a suicide reduction

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Speaker 1: target in favor of pursuing the goal of zero deaths

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Speaker 1: from suicide. There were three thy one hundred and thirty

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Speaker 1: nine suicide deaths in Australia in twenty twenty.

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Speaker 2: NASA has released satellite footage that has shown the collapse

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Speaker 2: of Antarctica's conger ice shelf, which is approximately the size

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Speaker 2: of Rome. There have been unusually high temperatures recorded in

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Speaker 2: East Antarctica, with a record high of minus eleven point

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Speaker 2: eight degrees Celsius reported. It is more than forty degrees

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Speaker 2: warmer than seasonal norms.

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Speaker 1: And today's good news, Troy Kotzer has become the first

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Speaker 1: deaf man in the history of the OSCARS to win

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Speaker 1: an award for acting. Accepting his award delivered in American

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Speaker 1: sign language, Cotts has said, I just wanted to say

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Speaker 1: that this is dedicated to the deaf community, the coder community,

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Speaker 1: and the disabled community. This is our moment. If you

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Speaker 1: thought the Oscars were a big event filled with drama

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Speaker 1: and accolades, just wait until you see what's on your

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Speaker 1: television screens at about seven thirty pm tonight. It's the

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Speaker 1: twenty twenty two budget and this is a particularly important

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Speaker 1: one as we approach the federal election, which is only

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Speaker 1: a couple of weeks away. Tom Crowley, journalist for the

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Speaker 1: Daily OS, you're on your way to camera for the budget.

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Speaker 1: What does your day actually look like today, Sam? I'm

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Speaker 1: very excited about it. Firstly, it's good to be here.

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Speaker 1: I stole your chair all of last week, so it's

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Speaker 1: nice to be talking to you again. I am off

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Speaker 1: to Canberra with fellow TDA journalist Billy Fitzimon's and we're

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Speaker 1: going into the famous budget lock up this afternoon. So

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Speaker 1: that's where all journalists and media get an advanced look

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Speaker 1: at the budget. So Billy and I will go without

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Speaker 1: our phones into a kind of secret, sealed off room

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Speaker 1: for about six hours where we'll take a look at

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Speaker 1: the budget and we'll be ready to cover it on

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Speaker 1: the TDA Instagram page from seven thirty when the Treasurer

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Speaker 1: gets up to give his speech. So it's going to

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Speaker 1: be a full and certainly for someone like me Sam,

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Speaker 1: a very exciting day, and there's going to be lots

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Speaker 1: of coverage to come tonight. And when you sit down

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Speaker 1: at the desk in this budget lock up room, no phone,

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Speaker 1: obviously no internet connection then there, because they're clearly worried

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Speaker 1: about leaks of this fascinating document. What are you actually

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Speaker 1: going to see on the desk? Is there a physical

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Speaker 1: copy of the budget paper? There is, so it actually

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Speaker 1: comes in in several books, so you get a sort

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Speaker 1: of a stack that's about a foot high of different

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Speaker 1: budget books, and nobody ever reads the whole thing much.

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Speaker 1: Though you've very generously described it as a fascinating document,

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Speaker 1: a lot of it is just sort of very boring

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Speaker 1: and procedural, and it's like an accounting document. But there

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Speaker 1: are certain things.

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Speaker 3: In it that we look for that really do matter,

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Speaker 3: and there'll be things buried within the budget papers that

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Speaker 3: will make a really big difference to what the next

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Speaker 3: few years will look like, I suppose. So there's lots

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Speaker 3: of kind of interesting things to be gleaned from the budget.

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Speaker 3: Our job this afternoon will be to figure out what

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Speaker 3: those things are and bring them to tda's audience tonight,

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Speaker 3: and then I'll be back on the pod I think

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Speaker 3: with Billy tomorrow to debrief and dissect.

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Speaker 1: And so you obviously live and breathe the budget. It

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Speaker 1: matters a lot to you and your work and you're reporting.

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Speaker 1: Why should it matter to the average TDA listener who's

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Speaker 1: on their way to work right now and going about

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Speaker 1: their life as normal.

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Speaker 3: Absolutely, So I guess maybe I'll start here Sam by

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Speaker 3: saying that I mean not everything that the government does

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Speaker 3: has to do with money, but a lot of what

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Speaker 3: the government does has to do with money. The two

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Speaker 3: tasks of raising money and then spending that money two

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Speaker 3: of the most important things that government does. They encompass

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Speaker 3: so many of the different activities, every tiny little program

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Speaker 3: that gets funded right up to the really kind of

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Speaker 3: huge decisions about hospitals or schools or the very biggest

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Speaker 3: things in the budget. So there's so much on the

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Speaker 3: line in any budget. It's not the only time that

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Speaker 3: government it can make decisions about spending, but it is

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Speaker 3: the time when it all comes together in one document.

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Speaker 3: So there are two things that I think matter in

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Speaker 3: the budget. There's kind of the big picture and the

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Speaker 3: small picture, and if you like, I can kind of

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Speaker 3: take them one at a time. So first the big picture,

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Speaker 3: and that's kind of about how much is the government

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Speaker 3: spending and taxing overall. And the reason that matter is

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Speaker 3: it's kind of about the government's strategy. So the government

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Speaker 3: will tend to spend more money basically. I mean, this

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Speaker 3: is not kind of always the case, but the general

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Speaker 3: rule of thumb is that the government spends more money

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Speaker 3: when it thinks the economy is struggling, and it spends

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Speaker 3: less money when it thinks that the economy is strong.

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Speaker 3: That's a very very simplified way of putting it. But

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Speaker 3: that's basically kind of the strategic question that we've got,

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Speaker 3: and it's the kind of thing that gets hotly debated.

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Speaker 3: And so one of the big things that we look

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Speaker 3: for is where's the government put that balance? How well

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Speaker 3: does it think the economy is going, and how much

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Speaker 3: is it going to spend as a result.

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Speaker 1: And so obviously through COVID, it was all about kind

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Speaker 1: of propping up people who were really struggling. What's kind

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Speaker 1: of the theme them over this year, exactly, right, So, so

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Speaker 1: the last couple of years. I mean, I suppose after

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Speaker 1: years of coalition government wanting to talk about raining in spending,

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Speaker 1: and certainly that's something that for years they've talked about

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Speaker 1: coming back to a surplus. So it's just to kind

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Speaker 1: of unpack those two terms quickly. A deficit is when

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Speaker 1: the government's spending more money than it takes in, and

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Speaker 1: a surplus is the opposite of that, when it's taking

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Speaker 1: in more money than it's spending. But then, as you say,

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Speaker 1: COVID came along a whole bunch of government spending and

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Speaker 1: some very large deficits as a result to I guess

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Speaker 1: support the weak economy through COVID. Now the picture is

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Speaker 1: kind of slightly more complicated because in a lot of senses,

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Speaker 1: the economy has recovered really well. So when we look

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Speaker 1: at jobs numbers, unemployment, it's not a perfect measure, but

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Speaker 1: it does give you some sense of how things are going.

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Speaker 1: Unemployment is the lowest it's been since two thousand and eight. Underemployment,

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Speaker 1: which is a measure of people who who would like

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Speaker 1: to work more hours, that's also the lowest it's been

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Speaker 1: since two thousand and eight. So there's some sense in

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Speaker 1: which things are kind of going quite well, and the

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Speaker 1: government certainly pointing out, Yeah, the recovery's been quite successful,

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Speaker 1: and so that would normally suggest that it's time to

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Speaker 1: kind of ease off the spending, at least that's what

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Speaker 1: the Treasure is saying. But at the same time you've

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Speaker 1: got these other kind of I think there be a

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Speaker 1: lot of people in the audience who are thinking, hold on,

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Speaker 1: what do you mean the economy is going well? Aren't

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Speaker 1: we talking about cost of living? We've talked on the

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Speaker 1: podcast about petrol and coffee and all these other things.

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Speaker 1: Cost of living is biting really hard. Wages haven't grown

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Speaker 1: really for the best part of a decade. That's another

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Speaker 1: thing we've spoken about on the podcast. So I think

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Speaker 1: that there's sort of although there are some signs that

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Speaker 1: the economy is strong, there are other signs that the

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Speaker 1: economy kind of is still struggling in certain ways and

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Speaker 1: reasons for support. And the government seems to be recognizing

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Speaker 1: that it's got to do something or that it wants

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Speaker 1: to do something about kind of the cost of living

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Speaker 1: as well. So it's got this kind of difficult balance

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Speaker 1: and it's sort of, to be honest, in the last

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Speaker 1: couple of weeks, the government's really been kind of sitting

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Speaker 1: on the fence a little bit and saying, on the

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Speaker 1: one hand, we've got to be you know, responsible and

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Speaker 1: start spending less, but on the other hand, we've got

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Speaker 1: to do something about the cost of living. So it's

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Speaker 1: going to be very interesting to see how they manage

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Speaker 1: that balance tonight. I've noticed over the last few days,

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Speaker 1: almost kind of a week or two now, we've been

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Speaker 1: getting these leaks from the budget. We've been given sneak

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Speaker 1: previews into what's being announced tonight. What's the political strategy

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Speaker 1: behind leaking some of these announcements, and what has caught

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Speaker 1: your eye as a big announcement that we're going to

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Speaker 1: be hearing about formally tonight.

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Speaker 3: Before every budget, governments love to kind of, you know,

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Speaker 3: drip feed little good news stories in the weeks leading up.

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Speaker 3: I suppose it's to kind of draw as much attention

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Speaker 3: to the budget as they possibly can and all that

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Speaker 3: sort of things. So I think that's kind of the

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Speaker 3: reason that they do it, and it speaks to I

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Speaker 3: guess I mentioned the big picture in the small picture before.

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Speaker 3: This is kind of the small picture. So it's all

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Speaker 3: very well and good to talk about these big you know,

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Speaker 3: how much is the government spending week economy, it's strong economy.

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Speaker 3: That's all a bit abstract, but a budget also contains

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Speaker 3: thousands and thousands of small choices that are much more concrete,

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Speaker 3: and that are things like funding a new drug that

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Speaker 3: might save someone's life, or a new program that might

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Speaker 3: really help people. And so these sort of individual little things.

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Speaker 3: They can be either kind of good news stories or

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Speaker 3: bad news stories, and the government loves to highlight some

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Speaker 3: of the little good news stories over the weeks and

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Speaker 3: the lead up to the budget. So as far as

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Speaker 3: the big things, maybe I'll start with something that we've

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Speaker 3: spoken about on the pod before, Sam, which is the

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Speaker 3: cost of petrol. So the government is, it seems, going

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Speaker 3: to cut the fuel excise, which is a forty four

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Speaker 3: cent per liter tax on petrol. There was a suggestion

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Speaker 3: in fact that it's going to take effect from midnight

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Speaker 3: on Budget night, so sort of a big grabby headline,

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Speaker 3: and I think we'll hear the Treasurer in his speech

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Speaker 3: tonight say and the great news is when you drive

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Speaker 3: off to the petrol pump tomorrow, it'll be automatically cheaper,

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Speaker 3: or you know, something along those lines. So that's kind

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Speaker 3: of one of the big ones. There was a major

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Speaker 3: funding announcement a couple of days ago for endometriosis initiatives,

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Speaker 3: including specialized clinics in every state and a new type

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Speaker 3: of scan for people with severe endometriosis to be funded

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Speaker 3: by Medicare. So that was another one that got some attention.

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Speaker 3: And there are a couple of other bits and pieces.

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Speaker 3: There's some subsidies for apprentices, there's we think a one

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Speaker 3: off two hundred and fifty dollars payment for pensioners, and

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Speaker 3: there's some support for first home buyers as well. So

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Speaker 3: there's some of the things we've been drip fed. There'll

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Speaker 3: be lots more to come tonight.

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Speaker 1: And Tom, just to round out this chat, how are

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Speaker 1: you going to be approaching this budget as a journalist? Well,

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Speaker 1: you've got an audience of over three hundred and forty thousand,

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Speaker 1: mostly young people, but we've got you know, listeners of

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Speaker 1: all different walks of life and ages on the podcast

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Speaker 1: as well. How are you going to be approaching this

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Speaker 1: task ahead of you?

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Speaker 3: That's a good question, Sam, and I'm very interested to

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Speaker 3: see how it all goes today. It's my first time

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Speaker 3: covering a budget as a journalist. I've been on the

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Speaker 3: other side helping to write budgets before, I've been analyzing

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Speaker 3: them in different jobs, but this is the first time

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Speaker 3: I've had to cover them. And I think the challenge

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Speaker 3: and the way that we want to try and do

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Speaker 3: it at TDA consistent with our I guess our philosophy

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Speaker 3: here of breaking down the news and making it accessible

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Speaker 3: will be how do you turn this sort of sea

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Speaker 3: of little things and a big picture story into kind

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Speaker 3: of a narrative that you can grab onto and that

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Speaker 3: makes sense. So I think that we'll try as much

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Speaker 3: as we can with our coverage to make things really tangible.

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Speaker 3: So we'll probably have a single post that deals with

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Speaker 3: the big picture, and then we'll break this small picture

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Speaker 3: up into kind of topic areas. So we'll talk about

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Speaker 3: health on its own, we might talk about education on

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Speaker 3: its own, we might talk about welfare. Try and break

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Speaker 3: things down and I guess try to put them in

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Speaker 3: a little bit of context. Give you some context for

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Speaker 3: the numbers, give you some context for kind of you know,

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Speaker 3: what the norm, how significant is each little piece of news,

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Speaker 3: and try and give you a little bit of that,

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Speaker 3: as we always do that background behind the news. So

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Speaker 3: you'll see a whole flurry of posts from us on

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Speaker 3: the page tonight, and if we're doing our job well,

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Speaker 3: we'll really try and give readers as much of that

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Speaker 3: tools to put the news in its context.

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Speaker 1: I have no doubt you and Billy are up for

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Speaker 1: the task, and I am so excited to be on

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Speaker 1: the other side of the WhatsApp message when you send

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Speaker 1: the text through, when you finally get your phone back,

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Speaker 1: saying these are the ten pieces I've made over the

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Speaker 1: last six hours, and we're just excited to bring the

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Speaker 1: news to our readers. If you want to follow along

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Speaker 1: with Budget Night on Instagram, you can find us at

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Speaker 1: the Daily Os. The audience of three hundred and forty

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Speaker 1: fives is waiting for you to join them. Until then,

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Speaker 1: we'll come back to you tomorrow with a Budget Wrap

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Speaker 1: to give you a full rundown on the highs and

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Speaker 1: lows of the twenty twenty two budget. Until then, have

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Speaker 1: a good day,