1 00:00:00,040 --> 00:00:02,920 Speaker 1: We've certainly been going through the federal budget this morning, 2 00:00:03,440 --> 00:00:05,920 Speaker 1: speaking much earlier on the show about some of the 3 00:00:05,960 --> 00:00:08,440 Speaker 1: different wins I guess you'd say for the Northern Territory 4 00:00:08,440 --> 00:00:11,160 Speaker 1: when it comes to infrastructure, but some of the serious 5 00:00:11,200 --> 00:00:13,600 Speaker 1: concerns still from a lot of Australians and from a 6 00:00:13,640 --> 00:00:15,680 Speaker 1: lot of you here in the Northern Territory when it 7 00:00:15,720 --> 00:00:18,159 Speaker 1: comes to cost of living. Now joining me on the 8 00:00:18,200 --> 00:00:21,360 Speaker 1: line right now is Senator Jane Hume, who is indeed 9 00:00:21,400 --> 00:00:23,000 Speaker 1: the shadow Finance Minister. 10 00:00:23,280 --> 00:00:24,680 Speaker 2: Good morning to you, Jane. 11 00:00:25,079 --> 00:00:26,800 Speaker 3: Great to be with you, Katie. 12 00:00:26,400 --> 00:00:27,960 Speaker 2: Thanks so much for your time this morning. 13 00:00:28,000 --> 00:00:30,760 Speaker 1: Now, Jane, from your perspective, do you feel as though 14 00:00:30,760 --> 00:00:33,400 Speaker 1: this budget's gone far enough to try to lower the 15 00:00:33,440 --> 00:00:35,000 Speaker 1: cost of living for Australians. 16 00:00:35,520 --> 00:00:38,880 Speaker 3: Well, this budget really was a test for the new 17 00:00:39,360 --> 00:00:41,720 Speaker 3: Labor government. It was a test to see whether it 18 00:00:41,760 --> 00:00:44,239 Speaker 3: could build on the strong position that it inherited from 19 00:00:44,240 --> 00:00:48,239 Speaker 3: the Coalition. You know, unemployment rates lower three percent and 20 00:00:48,280 --> 00:00:51,599 Speaker 3: going down, a triple A credit rating, economic growth going up. 21 00:00:52,440 --> 00:00:54,000 Speaker 3: And it was also a test to see whether they 22 00:00:54,000 --> 00:00:56,480 Speaker 3: could address this cost of living crisis. It's bearing down 23 00:00:56,520 --> 00:01:00,440 Speaker 3: on all Australians right now. But Labor failed that they've 24 00:01:00,480 --> 00:01:06,520 Speaker 3: failed it wholeheartedly. They did absolutely nothing to assist your 25 00:01:06,560 --> 00:01:10,920 Speaker 3: family budget. There is no credible plan in the budget 26 00:01:10,920 --> 00:01:13,720 Speaker 3: to deal with the source of inflation. Not the sametimes 27 00:01:13,720 --> 00:01:16,720 Speaker 3: with the source of inflation and help families deal with 28 00:01:16,760 --> 00:01:20,720 Speaker 3: that immediate cost of living pressure. They actually said, embedded 29 00:01:20,720 --> 00:01:23,120 Speaker 3: in the budget that your cost of living is going 30 00:01:23,160 --> 00:01:26,440 Speaker 3: to go up, that your electricity bills and your gas 31 00:01:26,480 --> 00:01:29,200 Speaker 3: bills are going to go up, but your tax payments 32 00:01:29,200 --> 00:01:32,000 Speaker 3: are going to go up. The government spending is going 33 00:01:32,040 --> 00:01:35,240 Speaker 3: to go up, but that employment will go down. Around 34 00:01:35,280 --> 00:01:37,240 Speaker 3: one hundred and forty thousand people are going to lose 35 00:01:37,240 --> 00:01:40,759 Speaker 3: their jobs next year, and that real wages are also 36 00:01:40,880 --> 00:01:43,560 Speaker 3: forecast to go down, not just next year but for 37 00:01:43,640 --> 00:01:46,840 Speaker 3: the whole term of this government. So this is a 38 00:01:46,880 --> 00:01:50,400 Speaker 3: really high taxing, high spending budget and it really does 39 00:01:50,480 --> 00:01:53,279 Speaker 3: go little to help you and your family get ahead 40 00:01:53,280 --> 00:01:53,760 Speaker 3: of the curve. 41 00:01:54,120 --> 00:01:56,680 Speaker 1: Jim, what do you make of Jim Chalmers obviously saying 42 00:01:56,680 --> 00:01:59,360 Speaker 1: that they've got this five point plan for cost of 43 00:01:59,400 --> 00:02:03,840 Speaker 1: living related cheaper childcare, expanding paid parental leave, cheaper medicines, 44 00:02:04,240 --> 00:02:08,560 Speaker 1: more affordable housing, and getting wages moving again. I mean, 45 00:02:08,600 --> 00:02:11,079 Speaker 1: I think that that last point's the hardest one. How 46 00:02:11,160 --> 00:02:13,280 Speaker 1: exactly are they going to get wages moving again? 47 00:02:14,000 --> 00:02:17,400 Speaker 3: Well, this is the thing. Getting wages moving again takes 48 00:02:17,440 --> 00:02:19,880 Speaker 3: more than a wish. You know, you've got to be 49 00:02:19,919 --> 00:02:22,880 Speaker 3: able to really back it in with high productivity and 50 00:02:22,960 --> 00:02:25,480 Speaker 3: economic growth. And there's really nothing in this budget to 51 00:02:25,520 --> 00:02:30,120 Speaker 3: improve the productive capacity of the economy. Those five points 52 00:02:30,200 --> 00:02:32,640 Speaker 3: that Labour said were going to reduce the cost of living, 53 00:02:32,800 --> 00:02:34,960 Speaker 3: most of them don't even kick in for the next 54 00:02:35,000 --> 00:02:37,880 Speaker 3: two years. And the problem is Australians need help with 55 00:02:37,919 --> 00:02:42,160 Speaker 3: the cost of living right now. Childcare reform is fantastic, 56 00:02:42,200 --> 00:02:45,720 Speaker 3: that'll make childcare cheaper, but the problem is really not 57 00:02:46,080 --> 00:02:50,400 Speaker 3: only affordability, it's accessibility. Where are these you know, where's 58 00:02:50,440 --> 00:02:53,440 Speaker 3: this demand going to go? Because there's particularly regional communities 59 00:02:53,720 --> 00:02:58,840 Speaker 3: are really struggling to find accessible childcare and you know, 60 00:02:59,000 --> 00:03:01,760 Speaker 3: paid parentally. Well, that sterrific if you're in the first 61 00:03:01,800 --> 00:03:04,840 Speaker 3: six months of having a baby. But for most Australian people, 62 00:03:04,840 --> 00:03:08,480 Speaker 3: for most Australian families, there's very little in that five 63 00:03:08,520 --> 00:03:11,280 Speaker 3: point plan that will make a difference today. 64 00:03:11,800 --> 00:03:14,519 Speaker 1: Now for the Northern Territory, there is quite a bit 65 00:03:14,720 --> 00:03:17,119 Speaker 1: in it for us when it comes to infrastructure. Two 66 00:03:17,120 --> 00:03:21,080 Speaker 1: point five billion dollars towards key infrastructure projects, along with 67 00:03:21,120 --> 00:03:25,359 Speaker 1: some more housing investments in remote communities and more places 68 00:03:25,400 --> 00:03:30,320 Speaker 1: for territorians at university. We do still have issues though, 69 00:03:30,360 --> 00:03:32,720 Speaker 1: like with workforce. You know, we hear it pretty regularly 70 00:03:33,080 --> 00:03:35,760 Speaker 1: on the show, people saying to us and businesses saying 71 00:03:35,760 --> 00:03:37,960 Speaker 1: to us, you know, Katie, we need help to try 72 00:03:37,960 --> 00:03:40,840 Speaker 1: to get workers into jobs and to try to attract 73 00:03:40,840 --> 00:03:41,760 Speaker 1: people to live here. 74 00:03:42,840 --> 00:03:46,200 Speaker 3: Well, and that's exactly right. And because we're now forecasting 75 00:03:46,240 --> 00:03:50,000 Speaker 3: there's going to be job losses right around the country, 76 00:03:50,360 --> 00:03:52,760 Speaker 3: this is going to have an effect on where the 77 00:03:52,840 --> 00:03:55,560 Speaker 3: businesses reinvest and whether they can grow and whether they 78 00:03:55,560 --> 00:03:58,520 Speaker 3: can employ people where people are needed. We already know 79 00:03:58,560 --> 00:04:01,800 Speaker 3: that there are job shortages in things like childcare, like 80 00:04:01,960 --> 00:04:05,480 Speaker 3: age care, and yet this budget is essentially planning to 81 00:04:05,560 --> 00:04:10,840 Speaker 3: have these industries filled miraculously magically, somehow over the next 82 00:04:10,840 --> 00:04:13,960 Speaker 3: couple of years. And while there's some really good infrastructure 83 00:04:13,960 --> 00:04:16,640 Speaker 3: investments certainly being made in the Northern territory, I've got 84 00:04:16,680 --> 00:04:20,880 Speaker 3: to start questioning some of the other choices of infrastructure 85 00:04:21,040 --> 00:04:24,599 Speaker 3: spending over I'm from Victoria. One of the commitments that 86 00:04:24,600 --> 00:04:27,320 Speaker 3: we've made in this government was two point two billion 87 00:04:27,400 --> 00:04:31,400 Speaker 3: dollars of taxpayers money to a suburban rail loop, which 88 00:04:31,480 --> 00:04:34,440 Speaker 3: is a commitment of the Andrews Labor government down there 89 00:04:34,480 --> 00:04:37,920 Speaker 3: five weeks out from an election. Now, Labor did say 90 00:04:38,160 --> 00:04:41,440 Speaker 3: before the election that they were going to make sure 91 00:04:41,440 --> 00:04:44,200 Speaker 3: that every dollar that they spend was quality spending and 92 00:04:44,200 --> 00:04:46,599 Speaker 3: that was going to be the difference between the Labor 93 00:04:46,640 --> 00:04:50,239 Speaker 3: government and a Coalist government. Well, quite frankly, the suburban 94 00:04:50,320 --> 00:04:53,920 Speaker 3: rail loop hasn't even been through infrastructure Australia. The cock 95 00:04:53,960 --> 00:04:58,600 Speaker 3: benefit analysis doesn't stack up, and the Victoria Victaire and 96 00:04:58,680 --> 00:05:02,240 Speaker 3: Order to General said much so that really you know, 97 00:05:02,440 --> 00:05:07,000 Speaker 3: belies that proclamation by the Labor government prior to the election. 98 00:05:07,240 --> 00:05:09,280 Speaker 3: But it's not a surprise because you know, hey, prior 99 00:05:09,320 --> 00:05:10,640 Speaker 3: to the election they also said they were going to 100 00:05:10,640 --> 00:05:12,960 Speaker 3: bring down electricity prices by two hundred and seventy five 101 00:05:13,000 --> 00:05:15,840 Speaker 3: dollars and they've certainly renegged on that energy prices are 102 00:05:15,839 --> 00:05:19,719 Speaker 3: going up fifty percent electricity fifty percent, gas forty percent. 103 00:05:20,080 --> 00:05:22,560 Speaker 3: And they also said that Australians would be better off 104 00:05:23,120 --> 00:05:25,039 Speaker 3: under a Labor government, that they would feel it in 105 00:05:25,080 --> 00:05:27,400 Speaker 3: their bank accounts. Well, I think that there's a few 106 00:05:27,400 --> 00:05:29,359 Speaker 3: Australians out there that are feeling in their bank accounts, 107 00:05:29,400 --> 00:05:31,400 Speaker 3: but not the way that Jim Chalmers said they were 108 00:05:31,440 --> 00:05:31,680 Speaker 3: going on. 109 00:05:31,800 --> 00:05:34,279 Speaker 1: Well, Jane, one of the areas it was certainly not 110 00:05:34,279 --> 00:05:36,960 Speaker 1: not seeing it in our bank accounts is when it. 111 00:05:36,880 --> 00:05:38,120 Speaker 2: Comes to the cost of petrol. 112 00:05:38,240 --> 00:05:41,720 Speaker 1: And there's on flow in so many different areas, particularly 113 00:05:42,000 --> 00:05:45,120 Speaker 1: in regional parts of Australia and places like the Northern Territory, 114 00:05:45,120 --> 00:05:48,200 Speaker 1: in more remote areas of the territory. But what we've 115 00:05:48,200 --> 00:05:51,560 Speaker 1: now learned through the Australian Financial Review, they're saying that 116 00:05:51,600 --> 00:05:54,640 Speaker 1: costs could jump by forty cents a later within a week, 117 00:05:55,279 --> 00:06:00,640 Speaker 1: potentially skyrocketing some of those prices around Australia's major eton cities. 118 00:06:00,680 --> 00:06:03,680 Speaker 1: Now they're talking sort of two dollars fourteen prices. When 119 00:06:03,680 --> 00:06:08,320 Speaker 1: it comes to unlettered we're already incredibly high at this 120 00:06:08,440 --> 00:06:11,600 Speaker 1: point here in the territory. Do you think that more 121 00:06:11,640 --> 00:06:14,200 Speaker 1: could have been done around petrol? And I know that 122 00:06:14,240 --> 00:06:17,359 Speaker 1: obviously the Coalition had announced or did have the fuel 123 00:06:17,400 --> 00:06:18,279 Speaker 1: excise in place. 124 00:06:18,400 --> 00:06:19,880 Speaker 2: It was incredibly expensive. 125 00:06:19,920 --> 00:06:22,159 Speaker 1: I don't know whether that could have continued on, But 126 00:06:22,240 --> 00:06:24,240 Speaker 1: could we be doing more in this space? 127 00:06:24,960 --> 00:06:26,680 Speaker 3: Well, I think there's certainly more that we can be 128 00:06:26,760 --> 00:06:29,839 Speaker 3: doing to tackle the cost of living more broadly, Yes, 129 00:06:29,839 --> 00:06:32,000 Speaker 3: you're right. When the Coalition was in government and the 130 00:06:32,040 --> 00:06:35,640 Speaker 3: cost of living pressures began to bite, our response, particularly 131 00:06:35,680 --> 00:06:38,440 Speaker 3: to the increased petrol crisis because of the crisis in 132 00:06:38,480 --> 00:06:41,640 Speaker 3: the Ukraine, was to temporarily reduce the excise. That was 133 00:06:41,680 --> 00:06:45,360 Speaker 3: one cost of living measure that we implemented. Now Labor 134 00:06:45,400 --> 00:06:48,000 Speaker 3: decided not to continue with that for their own reasons. 135 00:06:48,279 --> 00:06:50,320 Speaker 3: They had advice that suggested that that was not the 136 00:06:50,320 --> 00:06:53,039 Speaker 3: best solution. But if that wasn't the best solution, what 137 00:06:53,279 --> 00:06:56,880 Speaker 3: is the best solution? Because reducing pressure on interest rates 138 00:06:56,880 --> 00:06:59,920 Speaker 3: and inflation through careful budget management isn't what they've done. 139 00:07:00,080 --> 00:07:03,440 Speaker 3: In fact, we're saying debt and deficits blow out across 140 00:07:03,480 --> 00:07:08,120 Speaker 3: the next teen years, and clearly reducing into electricity prices 141 00:07:08,120 --> 00:07:11,000 Speaker 3: and gas prices isn't. It isn't something that they've been 142 00:07:11,040 --> 00:07:15,320 Speaker 3: advised to do, because they're predicting fifty forty percent rises 143 00:07:15,600 --> 00:07:20,080 Speaker 3: in electricity and gas, so they're really not tackling supply constraints. 144 00:07:20,120 --> 00:07:23,040 Speaker 3: They're not tackling red tape, you know, they're actually increasing 145 00:07:23,200 --> 00:07:24,960 Speaker 3: union action, which is going to be a cost of 146 00:07:25,000 --> 00:07:27,640 Speaker 3: small business. I'm struggling to see where it is that 147 00:07:27,680 --> 00:07:30,040 Speaker 3: they are helping out with the cost of living for 148 00:07:30,120 --> 00:07:31,000 Speaker 3: ordinary australiums. 149 00:07:31,280 --> 00:07:33,560 Speaker 1: Well, Joan Hume, you've given people a bit to think 150 00:07:33,600 --> 00:07:37,560 Speaker 1: about there, the shadow Finance Minister. We really appreciate your 151 00:07:37,560 --> 00:07:39,440 Speaker 1: time this morning. Thanks so much for having a chat 152 00:07:39,480 --> 00:07:40,240 Speaker 1: with us. 153 00:07:40,280 --> 00:07:41,440 Speaker 3: Great to be with you, Katie. 154 00:07:41,440 --> 00:07:42,080 Speaker 2: Thank you.