Latest / The Late Debate / The Late Debate |12 May

Transcript

The Late Debate |12 May · The Late Debate

• 0:00
  Speaker 1: Wait, wait, gentleman, welcome, it's the Late Debate.
• 0:06
  Speaker 2: Well, good evening.
• 0:07
  Speaker 3: I'm James Macpherson with the Nika de Georgio and Caleb Bond.
• 0:10
  Speaker 2: Not the Late Debate. It's the late late Debate.
• 0:12
  Speaker 4: Late even later, even later later.
• 0:16
  Speaker 1: It is.
• 0:16
  Speaker 3: Well, we've got a lot to get through. So here's
• 0:18
  Speaker 3: some of what's coming up tonight. Abby Chatfield issues a
• 0:21
  Speaker 3: groveling apology for joking about Trump's assassination, but.
• 0:25
  Speaker 2: Will it help her boyfriend to get a US visa?
• 0:28
  Speaker 3: Parents finally say enough organizing a mass protest against an
• 0:32
  Speaker 3: LGBTQIA plus awareness day at their kids' school, and the
• 0:37
  Speaker 3: Australia's housing crisis could be about to get worse if
• 0:40
  Speaker 3: oversee Searchers for Ozzie Properties or any guide. All of
• 0:43
  Speaker 3: that shortly, but first, Jim Chalmers has delivered the federal
• 0:47
  Speaker 3: budget document, stuffed with broken promises, padded with excuses, and
• 0:51
  Speaker 3: executed with the dazzling sleight of hand of a casino magician.
• 0:55
  Speaker 3: Inflation was front and center, and nowhere was that clearer
• 1:00
  Speaker 3: then in the acknowledgment to country which appears to have
• 1:02
  Speaker 3: risen by roughly fifty percent. The Treasurer acknowledged indigenous leaders
• 1:06
  Speaker 3: in Canberra, where he was giving the speech, as well
• 1:08
  Speaker 3: as in Logan where he lives. At this rate, next
• 1:11
  Speaker 3: year's budget speech will include acknowledgments to every traditional owner
• 1:15
  Speaker 3: between Parliament House and the Treasurer's driveway. But don't get
• 1:18
  Speaker 3: mad at the Treasurer. Whatever your complaints about tonight's budget,
• 1:22
  Speaker 3: blame Donald Trump because the acknowledgment of country was immediately
• 1:26
  Speaker 3: followed by an acknowledgment of war.
• 1:29
  Speaker 5: We didn't decide when this war began, and we have
• 1:31
  Speaker 5: no control over when it will properly end.
• 1:35
  Speaker 2: Well, there you go.
• 1:36
  Speaker 3: I'm not saying that you know the war has no
• 1:39
  Speaker 3: effect on inflation, but let me give you just one
• 1:42
  Speaker 3: example of how the Treasurer used the war to take
• 1:46
  Speaker 3: heat off his own performance.
• 1:49
  Speaker 5: We were already dealing with price pressures in our economy,
• 1:52
  Speaker 5: but Treasury is now forecasting inflation to peak around five
• 1:55
  Speaker 5: percent in the middle of the year because of the conflict.
• 1:59
  Speaker 3: Did you notice that before the war we had price pressures,
• 2:02
  Speaker 3: which sounds like a gentle massage technique, But the conflict
• 2:06
  Speaker 3: is responsible for inflation which is set to hit five
• 2:09
  Speaker 3: percent next year. So price pressures that was Canberra doing
• 2:13
  Speaker 3: its best inflation. Well, that's trump baran the general unfairness
• 2:19
  Speaker 3: of the universe. Have listened to how many times Charmers
• 2:22
  Speaker 3: spoke about the conflict, the war, the price of oil.
• 2:28
  Speaker 5: Reforming the tax system for workers, businesses and future generations,
• 2:32
  Speaker 5: including a new tax cut for every working Australian taxpayer. Tonight,
• 2:37
  Speaker 5: we're proud to be delivering another round of ongoing tax
• 2:41
  Speaker 5: cuts for Australian workers. Altogether, our five different tax cuts
• 2:46
  Speaker 5: will benefit the average worker by up to two eight
• 2:49
  Speaker 5: hundred and sixteen dollars in twenty twenty eight average out
• 2:53
  Speaker 5: over the year. Our three tax cuts are instant deduction
• 2:56
  Speaker 5: and the new offset are the equivalent of up to
• 2:59
  Speaker 5: fifty four dollars back in the average owners pocket each week.
• 3:04
  Speaker 3: Sorry, that's Charmers talking about tax cuts. Here he is
• 3:07
  Speaker 3: talking constantly about.
• 3:08
  Speaker 5: The war, oil oil, So the oil slobel oil shot
• 3:13
  Speaker 5: war in the Middle East has been pushing up prices
• 3:16
  Speaker 5: in the first month of the war. Paying a hefty
• 3:18
  Speaker 5: price for this war, some consequences.
• 3:20
  Speaker 3: Of this war, And that's how he framed the entire budget.
• 3:24
  Speaker 3: In fact, he went on to say Treasury predicts inflation
• 3:27
  Speaker 3: could hit seven percent and What was interesting was that
• 3:31
  Speaker 3: there was a very little relief for consumers in this budget.
• 3:35
  Speaker 3: In fact, the relief that Charmers boasted about was relief
• 3:39
  Speaker 3: that's largely already been given. Cuts to the fuel excise.
• 3:42
  Speaker 3: He talked about that, Well, that's already in train and
• 3:45
  Speaker 3: it's only supposed to last for three months. He talked
• 3:48
  Speaker 3: about cracking down on service stations who are price gouging, Well,
• 3:52
  Speaker 3: that was announced a long time ago. And of course
• 3:55
  Speaker 3: the government's court here, aren't they denika because they want
• 3:58
  Speaker 3: to provide cost of living relief, but at the same
• 4:01
  Speaker 3: time they don't want to do anything that might stoke inflation.
• 4:05
  Speaker 2: The RBA's already warned them about that.
• 4:07
  Speaker 1: I thought.
• 4:07
  Speaker 3: The other interesting thing, Caleb was that Jim Chalmers boasted
• 4:11
  Speaker 3: that though inflation might hit five percent and possibly even
• 4:14
  Speaker 3: seven percent, Australia.
• 4:16
  Speaker 2: Was well prepared to deal with the.
• 4:19
  Speaker 3: Challenge, ignoring the fact that we had price pressures quote
• 4:23
  Speaker 3: unquote well before Donald Trump took action against Iran.
• 4:27
  Speaker 1: Let me know which MASSUSI you're going to, James, because
• 4:29
  Speaker 1: they do your price pressures for you. But how do
• 4:34
  Speaker 1: we believe that we're magically going to get you know,
• 4:36
  Speaker 1: inflation will go to five percent, and then it's going
• 4:39
  Speaker 1: to be two and a half percent every year after that.
• 4:42
  Speaker 1: And you know, it's just because they've written it down
• 4:44
  Speaker 1: on a piece of paper somewhere, we are to believe
• 4:46
  Speaker 1: that that is what is going to happen. Now, yes,
• 4:49
  Speaker 1: clearly they are now cognizant of the fact that government
• 4:53
  Speaker 1: spending has been a major contributor to inflation. And so
• 4:57
  Speaker 1: the Treasurer goes on about, you know, we've got sixty
• 5:00
  Speaker 1: seven or sixty eight billion dollars worth of savings we've
• 5:03
  Speaker 1: made in this budget. Most of that is in the NDAs,
• 5:07
  Speaker 1: and we'll talk about this when we look at the papers.
• 5:09
  Speaker 1: But they're looking to slash a large sum of money
• 5:12
  Speaker 1: out of the NDAs over the next few years. But
• 5:15
  Speaker 1: government spending will still increase. Government spending continues to go up.
• 5:22
  Speaker 1: And he can say as much as he wants, you know, well,
• 5:24
  Speaker 1: it's our spending versus GDP is going backwards, it's in
• 5:28
  Speaker 1: slight decline. But the reality is that government spending continues
• 5:32
  Speaker 1: to go up. I mean, what he's tried to do
• 5:36
  Speaker 1: is patch up one side while also saying, but actually,
• 5:40
  Speaker 1: you're not going to lose out in any way, which
• 5:42
  Speaker 1: is a really difficult tight rope to walk. And how
• 5:46
  Speaker 1: can you say that we're in a great position to
• 5:48
  Speaker 1: deal with it. I mean, the government is absolutely because
• 5:51
  Speaker 1: they can tax the be Jesus out of us. But
• 5:54
  Speaker 1: we've already had a number of interest rate rises and
• 5:56
  Speaker 1: there's nothing to suggest that that will not continue to
• 5:59
  Speaker 1: happen if inflation continues to go up. The average person
• 6:04
  Speaker 1: can't afford to absorb that. The government sure can, but
• 6:08
  Speaker 1: the average person can't. But never mind, because we'll give
• 6:11
  Speaker 1: you two hundred and fifty dollars back on your text.
• 6:13
  Speaker 6: Return, Yeah, which is what like a dollar a working day. Basically,
• 6:17
  Speaker 6: it's absolutely barely anything now. But Jim Chalmers one of
• 6:20
  Speaker 6: his other quotes of the night was that he's chosen
• 6:23
  Speaker 6: the hard road of reform, that he's chosen the really
• 6:26
  Speaker 6: tough pathway for everybody at home, all of you at home.
• 6:30
  Speaker 4: He's very very responsible.
• 6:32
  Speaker 6: Look, I was not shocked at already pretty much opened
• 6:36
  Speaker 6: with his Iran comments, because it's a carbon copy of
• 6:38
  Speaker 6: everything that he has been saying since the Iran War started,
• 6:41
  Speaker 6: and we knew that this was going to happen. I mean,
• 6:44
  Speaker 6: Jim Chalmers has been peddling this for the last couple
• 6:47
  Speaker 6: of years, and he's been very tricky in the way
• 6:49
  Speaker 6: that he's sort of almost fooled the RBA into thinking
• 6:51
  Speaker 6: that he has a hold on the economy because you remember,
• 6:54
  Speaker 6: of course labor pedled out. Those energy rebates and subsidies
• 6:58
  Speaker 6: are a very good way to say to the RB No, look,
• 7:00
  Speaker 6: I've got absolutely everything under control.
• 7:02
  Speaker 4: That of course, what happens.
• 7:04
  Speaker 6: What happened once those energy rebates then peede it out,
• 7:07
  Speaker 6: Inflation went up, and you couple that with the perfect storm.
• 7:10
  Speaker 6: As Caleb just said, there was record government spending. Debt,
• 7:13
  Speaker 6: according to the budget papers, will now climb to one
• 7:16
  Speaker 6: point two trillions. So it has gone up and we
• 7:18
  Speaker 6: will talk about debt a little bit later on. There
• 7:20
  Speaker 6: will also be no budget surplus for more than a decade.
• 7:24
  Speaker 4: He said to us tonight. Don't worry.
• 7:26
  Speaker 6: I've made sixty three billion dollars in savings. Okay, fine,
• 7:30
  Speaker 6: the majority will come from the ndies, but what about
• 7:32
  Speaker 6: the rest. There was little to no detail about where.
• 7:34
  Speaker 4: The rest of the savings were.
• 7:36
  Speaker 6: So it's very all well and good for Jim Chalmers
• 7:38
  Speaker 6: to come out and say, look again, I've got this
• 7:40
  Speaker 6: under control.
• 7:41
  Speaker 4: But we're lacking a lot of detail.
• 7:43
  Speaker 6: So you may as well just say I surrender at
• 7:46
  Speaker 6: this point, because to me, if you put all this together,
• 7:49
  Speaker 6: it doesn't help the ordinary Australian out and the problems
• 7:53
  Speaker 6: are bigger, and it's not just going to hurt now.
• 7:55
  Speaker 4: It's going to hurt.
• 7:57
  Speaker 6: My generation, my children's generation, and my great grandchildren. This
• 8:02
  Speaker 6: is something that is going to impact many many to come.
• 8:06
  Speaker 1: It's and we can talk more at this later, but
• 8:09
  Speaker 1: I wonder whether the results of this budget will mark
• 8:14
  Speaker 1: a real turnaround for this government, and not in a
• 8:16
  Speaker 1: good way. Because remember back when Tony Abbott and Joe
• 8:20
  Speaker 1: Hockey decided that they would embark on what was at
• 8:25
  Speaker 1: the time something of a reforming budget which involved heavy cuts,
• 8:29
  Speaker 1: and they weren't shy in coming, weren't backwards in coming
• 8:32
  Speaker 1: forwards about what they were going to do. They were
• 8:34
  Speaker 1: going to cut this that left right and center right.
• 8:36
  Speaker 1: It's an austerity budget and Australians jumped up and down
• 8:40
  Speaker 1: about it, and that was basically what eventually brought that
• 8:43
  Speaker 1: government undone. People just wouldn't cop the idea of cuts.
• 8:48
  Speaker 1: So do they cop the idea now that you have
• 8:50
  Speaker 1: sixty three billion dollars worth of cuts in this budget,
• 8:55
  Speaker 1: simply because the government turns around and says we'll give
• 8:58
  Speaker 1: you two hundred and fifty dollars a year on your
• 9:00
  Speaker 1: tax return. Does it work or not?
• 9:03
  Speaker 4: I personally don't think it works.
• 9:04
  Speaker 6: I don't think it works because two hundred and fifty
• 9:07
  Speaker 6: dollars on your tax return, as I said, it's a.
• 9:09
  Speaker 4: Dollar a working day.
• 9:11
  Speaker 6: Now is that going to scratch the surface in the
• 9:13
  Speaker 6: middle of the cost of living crisis when everything keeps
• 9:15
  Speaker 6: going up and fuels up, rents up. You know, we'll
• 9:18
  Speaker 6: talk about the tax changes in a minute, but what's
• 9:22
  Speaker 6: that going to save you if it's five dollars per
• 9:25
  Speaker 6: a working week.
• 9:26
  Speaker 2: Your point is well made, But I take a different view.
• 9:27
  Speaker 3: I think it will absolutely work because this government, while
• 9:30
  Speaker 3: terrible at governing, is quite brilliant at spin. And the
• 9:34
  Speaker 3: difference between the example you gave from the Coalition when
• 9:36
  Speaker 3: they made those cuts is they were upfront, you said
• 9:38
  Speaker 3: about the cuts. Jim Chalmers has been anything but upfront
• 9:43
  Speaker 3: when it comes to the things he's done in this budget.
• 9:47
  Speaker 2: Remember the two hundred.
• 9:48
  Speaker 3: And seventy five dollars off your power price, right, it
• 9:50
  Speaker 3: has not hurt the government at all. It doesn't matter
• 9:53
  Speaker 3: how many times we remind people that he promised that
• 9:55
  Speaker 3: ninety seven times, their polls.
• 9:58
  Speaker 2: Haven't moved because of that.
• 9:59
  Speaker 3: You' I think a government would be thrown out for
• 10:01
  Speaker 3: something as crazy and as unintegrious as that.
• 10:05
  Speaker 4: Is that because it hasn't hurt.
• 10:07
  Speaker 6: Is that because though there is an ineffective opposition, though
• 10:09
  Speaker 6: that has not prosecuted.
• 10:11
  Speaker 4: The case enough.
• 10:12
  Speaker 6: Because if you had an opposition that was strong from
• 10:14
  Speaker 6: the very beginning, and you know, the coalition has been
• 10:17
  Speaker 6: a shambles, Let's be honest, in the last couple of years,
• 10:20
  Speaker 6: who's really prosecuted that case? And people going okay, that
• 10:22
  Speaker 6: is a genuine alternative government.
• 10:25
  Speaker 4: Would we be having that conversation?
• 10:26
  Speaker 1: Well, it's very good.
• 10:27
  Speaker 2: That would change things.
• 10:28
  Speaker 1: It is a good point. The other thing that will
• 10:31
  Speaker 1: be interesting is whether or not some of the changes
• 10:34
  Speaker 1: that have made tonight affect wealthier labor voters in certain
• 10:38
  Speaker 1: parts of the country, which of course brings us to
• 10:41
  Speaker 1: the centerpiece basically of this budget. I think the Treasurer
• 10:45
  Speaker 1: tonight gained himself a new theme song. Yes, new taxes abound,
• 10:59
  Speaker 1: though when he was at pains to point out tonight
• 11:02
  Speaker 1: lots of tax.
• 11:03
  Speaker 5: Cuts, reforming the tax system for workers, businesses and future generations,
• 11:09
  Speaker 5: including a new tax cut for every working Australian tax payer. Tonight,
• 11:15
  Speaker 5: we're proud to be delivering another round of ongoing tax
• 11:19
  Speaker 5: cuts for Australian workers. Altogether, our five different tax cuts
• 11:24
  Speaker 5: will benefit the average worker by up to two eight
• 11:27
  Speaker 5: hundred and sixteen dollars in twenty twenty eight average out
• 11:31
  Speaker 5: over the year. Our three tax cuts are instant deduction
• 11:34
  Speaker 5: and the new offset are the equivalent of up to
• 11:37
  Speaker 5: fifty four dollars back in the average owner's pocket each week.
• 11:41
  Speaker 5: And at a time when Australians are under pressure, this
• 11:44
  Speaker 5: budget delivers more help with the cost of living and
• 11:47
  Speaker 5: new tax cuts for workers.
• 11:51
  Speaker 1: Oh, tax cuts, tax cuts, tax cuts. I mean, this
• 11:53
  Speaker 1: was not a tax cutting budget. The only thing that
• 11:56
  Speaker 1: you could speak of that is anything like a tax cut.
• 11:59
  Speaker 1: And of course a lot of what talking about there
• 12:00
  Speaker 1: are measures that were from the previous budget that will
• 12:03
  Speaker 1: now come into effect with the financial year coming. So
• 12:07
  Speaker 1: remember they said they were going to give you basically
• 12:09
  Speaker 1: a five dollars tax cut a week. That is just
• 12:12
  Speaker 1: about to come into effect now. So you can draw
• 12:14
  Speaker 1: on all of that and say tax cuts but this
• 12:16
  Speaker 1: is not new stuff. The only new bit in terms
• 12:19
  Speaker 1: of tax cuts really is this WATO or watto or twato,
• 12:22
  Speaker 1: whatever you want to call it. The Working Australian Tax Offset,
• 12:26
  Speaker 1: which we were talking about before. It's two hundred and
• 12:28
  Speaker 1: fifty dollars that every worker in Australia will get instantly
• 12:33
  Speaker 1: off their tax, no questions asked. That begins next financial year,
• 12:38
  Speaker 1: so it kicks in twenty twenty seven, so you won't
• 12:41
  Speaker 1: get it when you put your tax return in this year.
• 12:43
  Speaker 1: You'll have to wait another year in order to get that.
• 12:46
  Speaker 1: That's the tax cuts. Just talk about the tax increases.
• 12:50
  Speaker 1: Of course, big ones, huge broken promises. I'm sure you know.
• 12:54
  Speaker 1: Negative gearing is one of the main ones, and basically
• 12:57
  Speaker 1: it means that from tonight, if you go and buy
• 13:01
  Speaker 1: yourself an investment property and that is an existing property,
• 13:05
  Speaker 1: you will no longer be able to negatively gear if
• 13:07
  Speaker 1: you won't be able to claim your losses against your income.
• 13:11
  Speaker 1: You'll be able to do that only if you buy
• 13:14
  Speaker 1: a new property. If you already own an investment property
• 13:17
  Speaker 1: like I do, that's fine. You can keep going on
• 13:20
  Speaker 1: claiming your negative gearing, which is supposedly going to get
• 13:23
  Speaker 1: young people into the market. Now, I don't know how
• 13:25
  Speaker 1: it gets young people into the market, because it says
• 13:28
  Speaker 1: to a young person who wants to perhaps buy an
• 13:30
  Speaker 1: investment property. Let's say you're a young family, right, and
• 13:33
  Speaker 1: you go, well, we haven't got the money to buy
• 13:35
  Speaker 1: the three or four bedroom house we need for us
• 13:38
  Speaker 1: and our kids. So what we'll do is we'll go
• 13:40
  Speaker 1: and buy ourselves a unit somewhere with the intention of
• 13:44
  Speaker 1: renting it up, because at least then we have an asset.
• 13:47
  Speaker 1: It's not one we can live in, because we can't
• 13:49
  Speaker 1: afford to buy an asset to live in, but we
• 13:51
  Speaker 1: can buy an asset to get ourselves on our ladder
• 13:53
  Speaker 1: and hopefully one day be able to buy a family home. Well,
• 13:56
  Speaker 1: now they're saying that the only circumstance in which you'll
• 13:59
  Speaker 1: be able to do that is either positively geared existing property,
• 14:04
  Speaker 1: and that is hard to do, or a new build.
• 14:07
  Speaker 1: New builds, of course, don't come around overnight, and it
• 14:09
  Speaker 1: means that if people want to get in to property investment,
• 14:13
  Speaker 1: where are they all going to go. They're going to
• 14:15
  Speaker 1: go to new builds. Now, look across the rest of
• 14:17
  Speaker 1: the housing market. What happens when you have high demand
• 14:22
  Speaker 1: and low supply, and we know we're not building these
• 14:24
  Speaker 1: things fast enough against the national targets high demand, low supply,
• 14:29
  Speaker 1: higher prices. I thought this was all about getting housing
• 14:32
  Speaker 1: prices down. I don't think that is going to work.
• 14:36
  Speaker 1: The other one, of course, is the capital gains tax.
• 14:39
  Speaker 1: Now at the moment, if you own an asset for
• 14:42
  Speaker 1: more than a year, when you go to pay your
• 14:44
  Speaker 1: capital gains tax, that is the tax, of course, that
• 14:47
  Speaker 1: you're paying on the profit you've made since you've owned
• 14:50
  Speaker 1: that asset. They give you a fifty percent discount. If
• 14:53
  Speaker 1: you've owned it after a year or more than a year,
• 14:56
  Speaker 1: that will now be scrapped and it will be based
• 14:58
  Speaker 1: on inflation. Now this is supremely complicated, so try and
• 15:03
  Speaker 1: bear with me here. But if you already own the asset,
• 15:07
  Speaker 1: you will up until July twenty twenty seven, be charged
• 15:11
  Speaker 1: on the fifty percent discount. So that will continue. That
• 15:13
  Speaker 1: is grandfathered up until twenty twenty seven. But after that
• 15:19
  Speaker 1: you will have to pay based on the profit that
• 15:22
  Speaker 1: you have made on top of whatever the inflation is.
• 15:25
  Speaker 1: So to put it very simply, if the inflation is
• 15:29
  Speaker 1: two and a half percent, and in that particular year
• 15:32
  Speaker 1: you've made a three percent profit, you'll be paying tax
• 15:35
  Speaker 1: on that half a percent, basically. But that will apply
• 15:38
  Speaker 1: to everything. It's not just homes. It shares any asset
• 15:42
  Speaker 1: you own, but is an investment. Now, if this was
• 15:44
  Speaker 1: purely about getting people into the housing market and making
• 15:48
  Speaker 1: housing more affordable for people, you'd think they would only
• 15:52
  Speaker 1: change the capital gains tax when it came to housing.
• 15:55
  Speaker 1: But no, they've applied it to all assets because of
• 15:58
  Speaker 1: course it makes money for the game. Why wouldn't they
• 16:01
  Speaker 1: want to do that. But here's one that you mightn't
• 16:03
  Speaker 1: have heard a lot about tonight, and I've banged on
• 16:06
  Speaker 1: about this for a long time. Tobacco excis because of
• 16:09
  Speaker 1: course we know that the illicit market is now huge.
• 16:13
  Speaker 1: Have a look at how much money the government is
• 16:15
  Speaker 1: losing in the tobacco excise now. So in last year's
• 16:19
  Speaker 1: budget they said that at the twenty five to twenty
• 16:21
  Speaker 1: six financial year they would make seven point zero five
• 16:25
  Speaker 1: billion dollars in taxis in excise on the tobacco. This
• 16:30
  Speaker 1: is budget they say twenty five to twenty six four
• 16:32
  Speaker 1: point one three billion. I mean they've wiped off in
• 16:36
  Speaker 1: the space of a year nearly three billion dollars on that,
• 16:41
  Speaker 1: And let's compare over the forward estimates. Last year's budget
• 16:44
  Speaker 1: they said twenty six to twenty seven would be six
• 16:45
  Speaker 1: point eight billion, twenty seven, twenty eight would be six
• 16:48
  Speaker 1: point seven five billion, twenty eight twenty nine would be
• 16:50
  Speaker 1: six point seven billion. I mean, it's barely going down
• 16:53
  Speaker 1: at all. But I have a look at this is budget.
• 16:56
  Speaker 1: They say twenty six twenty seven three point five six billion.
• 16:59
  Speaker 1: That's compared to six point eight in the last one.
• 17:02
  Speaker 1: Then it goes three point h two billion for twenty seven,
• 17:05
  Speaker 1: twenty eight, twenty eight, twenty nine two point five to
• 17:08
  Speaker 1: three billion, and it gets all the way down in
• 17:10
  Speaker 1: twenty twenty nine thirty to two point one four billion. Now,
• 17:15
  Speaker 1: if you want an idea of just how badly this
• 17:18
  Speaker 1: is gone, when Labor put out their first budget in
• 17:21
  Speaker 1: October twenty twenty two, because you'll remember the Libs had
• 17:25
  Speaker 1: their own budget earlier in the year, then Labor came
• 17:27
  Speaker 1: to par and put out their own. They thought that
• 17:30
  Speaker 1: by twenty five twenty six they'd be making thirteen point
• 17:33
  Speaker 1: three billion dollars in tobacco excise, and now it is
• 17:37
  Speaker 1: four point one three. They've coughed up nearly ten billion dollars.
• 17:43
  Speaker 1: That's not small, bickies. You know, the stuff they could
• 17:47
  Speaker 1: do with ten billion dollars is significant. So here you are.
• 17:50
  Speaker 1: You've got a government of course, that is losing money
• 17:53
  Speaker 1: in so many other places. They've decided that they need
• 17:56
  Speaker 1: to go and make money elsewhere, and then they try
• 18:00
  Speaker 1: to sell it to the public as well. It's this
• 18:02
  Speaker 1: intergenerational equity business. You know, we're doing it because the
• 18:06
  Speaker 1: kiddies need to be able to go and buy a house.
• 18:08
  Speaker 1: It's not about the kiddies being able to go and
• 18:10
  Speaker 1: buy a house. It's about a government that needs money,
• 18:13
  Speaker 1: and it needs it fast, and it's decided that it
• 18:16
  Speaker 1: has enough political capital with ninety four seats in the
• 18:19
  Speaker 1: Lower House, that it can throw property investors under the bus,
• 18:23
  Speaker 1: the people who buy rental properties for other people to
• 18:25
  Speaker 1: live in, and try and make them pay more. I
• 18:28
  Speaker 1: don't I think this will go badly for everyone involved.
• 18:31
  Speaker 1: It'll drive up rents because of course, you know they've
• 18:34
  Speaker 1: tried this out in the eighties and Keating the lasted
• 18:37
  Speaker 1: two years and he brought it back. It'll drive up
• 18:39
  Speaker 1: rent it'll make it more difficult for young people to
• 18:42
  Speaker 1: get into the market. Because it won't change the price
• 18:44
  Speaker 1: of housing at all. It'll drive up the price of
• 18:46
  Speaker 1: new bills, but it makes the government tax money, so
• 18:49
  Speaker 1: who's going to complain?
• 18:50
  Speaker 3: You know. Out of everything you just talked about, my
• 18:52
  Speaker 3: biggest takeaway is the fastest growing part of the economy
• 18:56
  Speaker 3: will be the illicit tobacco trade.
• 18:57
  Speaker 4: Badly that budgeted for that.
• 19:00
  Speaker 3: But the other thing about the two hundred and fifty
• 19:02
  Speaker 3: dollars offset you said that that comes into effect middle
• 19:05
  Speaker 3: of next year, which very conveniently, will be about eleven
• 19:08
  Speaker 3: months before the next federal election.
• 19:11
  Speaker 2: So that's what it's conveniences.
• 19:14
  Speaker 1: They do it on time. It's quite possible we'll have
• 19:16
  Speaker 1: an early federal election, which would probably happen around October
• 19:19
  Speaker 1: November next year sometime. Just as I mean kicking in very.
• 19:23
  Speaker 4: Good Yeah, that's a really really good point.
• 19:24
  Speaker 6: But also at the cost of six point four billion
• 19:26
  Speaker 6: dollars over four years this waio, why would you even
• 19:29
  Speaker 6: bother I just don't understand what the point of it is.
• 19:32
  Speaker 6: Where As I said, it's going to cost the average person,
• 19:34
  Speaker 6: it's going about five dollars a working week, that's one
• 19:36
  Speaker 6: dollar a day.
• 19:37
  Speaker 4: Why would you even bother to do that? I think
• 19:39
  Speaker 4: that's just ridiculous.
• 19:40
  Speaker 6: You know, the number one thing that people my age
• 19:43
  Speaker 6: all talking about right now is how we're going to
• 19:45
  Speaker 6: be able to enter the housing market now. Based on
• 19:47
  Speaker 6: what we have heard tonight, it is going to make
• 19:50
  Speaker 6: what is a very difficult situation and already even more
• 19:54
  Speaker 6: difficult situation because it makes it unattractive to want to
• 19:57
  Speaker 6: enter the market. A lot of my closest friends actually
• 19:59
  Speaker 6: bought their properties as investments. They're still living at home,
• 20:02
  Speaker 6: trying to still save up as much money and this
• 20:05
  Speaker 6: is going to impact them too on their investment properties.
• 20:08
  Speaker 6: And they weren't cheap to begin with. Living in Sydney
• 20:10
  Speaker 6: is very, very expensive, as it is in capital cities
• 20:13
  Speaker 6: across the country. Labor is not helping my generation nor
• 20:16
  Speaker 6: the next generation. And when it comes to the capital
• 20:19
  Speaker 6: gains tax changes, okay, we might see sales increase, fine,
• 20:23
  Speaker 6: that could be part.
• 20:24
  Speaker 4: Of it, but what does it do to supply.
• 20:27
  Speaker 6: We have got a supply crisis where labor has not
• 20:29
  Speaker 6: been able to meet any of its housing targets. In
• 20:31
  Speaker 6: its National Housing Accord, it promised to do one point
• 20:34
  Speaker 6: two million homes by.
• 20:36
  Speaker 4: The end of this decade.
• 20:37
  Speaker 6: It's now been pushed out to the twenty thirty, so
• 20:39
  Speaker 6: it's not meeting any targets.
• 20:40
  Speaker 4: You can't just tax your way into supply nothing at all.
• 20:45
  Speaker 6: And I worry about what it means for renters because
• 20:47
  Speaker 6: many first home buyers were once renters and if you
• 20:50
  Speaker 6: are looking to make that jump, well you may as
• 20:52
  Speaker 6: well be tossed out in the street at the rate.
• 20:54
  Speaker 4: That we're going.
• 20:55
  Speaker 1: Indeed, and they're not hiding why they're doing all of this.
• 20:58
  Speaker 1: I mean, this was the treasure of tonight, basically saying
• 21:01
  Speaker 1: it's wealthy distribution.
• 21:05
  Speaker 5: These changes will level the playing field for workers and
• 21:08
  Speaker 5: first home buyers and support investment in productive assets, including
• 21:12
  Speaker 5: new housing supply. And they will find our new round
• 21:15
  Speaker 5: of tax relief for more than thirty million Australian workers.
• 21:19
  Speaker 1: I mean, you know, Rob Peter to pay Paul, we're
• 21:22
  Speaker 1: charging more over here on this tax so we can
• 21:24
  Speaker 1: pay for this WATO thing. Now, they'll probably rake in
• 21:28
  Speaker 1: more than they pay on the WATO, but that's how
• 21:29
  Speaker 1: they're selling it. They're trying to say, you know, you
• 21:32
  Speaker 1: poor people out there are being done over because property
• 21:35
  Speaker 1: investors have been able to claim the losses that they
• 21:38
  Speaker 1: are making on that property. But by claiming those losses,
• 21:42
  Speaker 1: it allows them to keep rent down to some degree
• 21:45
  Speaker 1: so people can afford to live in those properties. It
• 21:49
  Speaker 1: will not do anything that they claim it will actually do.
• 21:52
  Speaker 6: And can I just say, Wato? What a shocking name
• 21:55
  Speaker 6: like trying to sell that? Is that going to be
• 21:57
  Speaker 6: on a commercial? How are you going to sell that?
• 21:58
  Speaker 6: It's an absolute used.
• 22:00
  Speaker 3: It in a headline the other day and we all
• 22:02
  Speaker 3: had to google what it Sato.
• 22:06
  Speaker 1: Getting up your wate.
• 22:09
  Speaker 4: Exactly.
• 22:09
  Speaker 6: Well, look here is my big ripe from the budget.
• 22:12
  Speaker 6: Big Australia is getting even bigger yet again under Labor
• 22:16
  Speaker 6: and we haven't spoken enough about this. Tonight immigration numbers
• 22:20
  Speaker 6: have blown out again net overseas migration, so the nom
• 22:24
  Speaker 6: that is the marker for overseas arrivals. It's up around
• 22:27
  Speaker 6: thirteen percent from last year's budget. So what does that mean? Well,
• 22:32
  Speaker 6: it's pretty simple. Labour claims it's bringing down immigration. Well
• 22:35
  Speaker 6: it's all lies, isn't it. It means more pressure on
• 22:38
  Speaker 6: an already tough housing market. As we've just discussed the
• 22:41
  Speaker 6: cost of living, groceries, infrastructure. I mean you've seen how
• 22:44
  Speaker 6: crowded the roads are, but it's getting worse under Labor.
• 22:47
  Speaker 4: Because it still has not got a hold on immigration.
• 22:50
  Speaker 6: So let's bring up this graph that was in the
• 22:52
  Speaker 6: budget papers to explain it. The light blue there is
• 22:55
  Speaker 6: a forecast for twenty twenty five to twenty six.
• 22:58
  Speaker 4: The dark blue is twenty twenty six twenty seven.
• 23:00
  Speaker 6: Now what you can see there is Australia will welcome
• 23:03
  Speaker 6: thirty five thousand additional people in twenty twenty five twenty
• 23:07
  Speaker 6: six compared to the previous forecast, and an extra twenty
• 23:11
  Speaker 6: thousand in twenty twenty six twenty twenty seven financial year.
• 23:16
  Speaker 6: So that is one point two million people between twenty
• 23:19
  Speaker 6: and twenty five to two thousand and thirty in terms
• 23:22
  Speaker 6: of the NOOM again, which is outrageous because when you
• 23:25
  Speaker 6: think Labour's already let in more than one million migrants
• 23:28
  Speaker 6: since first elected. Now, according to the budget papers, it
• 23:32
  Speaker 6: says the NOOM is forecast to be moderately higher than
• 23:35
  Speaker 6: previously expected in twenty twenty five, twenty six and twenty
• 23:38
  Speaker 6: six twenty seven, which reflects that migrants on temporary visas
• 23:42
  Speaker 6: are departing Australia at lower rates than the past.
• 23:46
  Speaker 4: Oh hello, what are you doing about it? Then? Although
• 23:50
  Speaker 4: the NOM drop forty four.
• 23:51
  Speaker 6: Percent, this is back in twenty twenty four to twenty five.
• 23:55
  Speaker 6: It still remains above pre pandemic averages, so we're still
• 23:59
  Speaker 6: experiencing these record numbers. Now, the budget does not forecast
• 24:03
  Speaker 6: to cut for another two years. Two years now, have
• 24:06
  Speaker 6: a think about that, have a think two years. So
• 24:09
  Speaker 6: the question is why is Labor then delaying cuts to immigration?
• 24:13
  Speaker 4: Right? Well, I think it's pretty simple.
• 24:16
  Speaker 6: It's delaying it until after the next election. And what
• 24:18
  Speaker 6: does that tell you? It needs the migrant vote. Now,
• 24:22
  Speaker 6: we saw this in the lead up to the last election,
• 24:24
  Speaker 6: the pandering to places like western and southwestern Sydney, particularly
• 24:28
  Speaker 6: in areas with a higher Muslim population.
• 24:30
  Speaker 4: And remember when everybody got.
• 24:32
  Speaker 6: A citizenship when Tony Burke went on that Australia Wide tour.
• 24:35
  Speaker 6: You got a citizenship and you got a citizenship. High
• 24:38
  Speaker 6: migration suits labor politically, and of course it has propped
• 24:43
  Speaker 6: up this Ponzi scheme economy. So perhaps this is why
• 24:46
  Speaker 6: Treasurer Jim Chalmers didn't even bother, not once to mention
• 24:51
  Speaker 6: migration in his.
• 24:52
  Speaker 4: Budget speech this evening.
• 24:54
  Speaker 6: Labor is not serious about cutting migration, and we always
• 24:57
  Speaker 6: talk about this. You wonder why one nation keeps topping
• 24:59
  Speaker 6: the pop But where are we going to put all these.
• 25:01
  Speaker 4: People who plan to call Australia home Now.
• 25:04
  Speaker 6: The federal budget, and we just spoke about housing, then
• 25:06
  Speaker 6: will make the housing shortage worse than it is by
• 25:10
  Speaker 6: reducing the supply of new homes because if you look
• 25:13
  Speaker 6: at the actual budget papers, it says that even with
• 25:17
  Speaker 6: changes to negative gearing and capital gains tax.
• 25:21
  Speaker 4: It will reduce the supply of.
• 25:22
  Speaker 6: New homes by around thirty five thousand over the next decade.
• 25:27
  Speaker 6: So Labour's not achieved any of its goals already, as
• 25:30
  Speaker 6: I just mentioned before, of one point two million by
• 25:32
  Speaker 6: the end of the decade, and now another reduction in supply.
• 25:36
  Speaker 6: So this is suicidally stupid to be keeping the welcome
• 25:40
  Speaker 6: matte firmly, open, roll up and come in at a
• 25:43
  Speaker 6: time when we do not even have enough homes in
• 25:45
  Speaker 6: the first place.
• 25:46
  Speaker 3: So one point four million people in the next sorry,
• 25:49
  Speaker 3: one point two million people in the next four years.
• 25:52
  Speaker 6: Yes the top of We've already had more than one
• 25:55
  Speaker 6: million migrants since Labor was first elected.
• 25:57
  Speaker 3: So it means the next four years we add another
• 25:59
  Speaker 3: adelaide to Australia. It's a good point, and tell me
• 26:02
  Speaker 3: we're going to build another Adelaide in the next four years.
• 26:04
  Speaker 2: Of course we're not.
• 26:05
  Speaker 6: No.
• 26:05
  Speaker 3: So the budget apply speech that Angus Taylor gives. I
• 26:10
  Speaker 3: know he's got to address lots of things, but if
• 26:12
  Speaker 3: he doesn't hone in on two things, immigration and net
• 26:16
  Speaker 3: zero and what that's costing us, that would signal he's
• 26:19
  Speaker 3: learned nothing from what happened at the pharaoh by election,
• 26:22
  Speaker 3: because that's what moved voters there, and they are the
• 26:25
  Speaker 3: two glaring problems in this budget. Didn't address immigration in
• 26:29
  Speaker 3: his speech, and of course we keep spending on net zero.
• 26:32
  Speaker 3: Address those two things you mentioned earlier. What would have
• 26:35
  Speaker 3: happened if we'd had a stronger opposition earlier in the piece.
• 26:38
  Speaker 3: One of the problems with the opposition is they don't
• 26:40
  Speaker 3: find a message and stick to it. They announce something,
• 26:43
  Speaker 3: they talk about it for three days, and then they
• 26:45
  Speaker 3: forget all about it. I know I'm getting ahead of
• 26:48
  Speaker 3: the game here, but when Angus Taylor addresses this budget,
• 26:51
  Speaker 3: he needs to just find a couple of things and
• 26:54
  Speaker 3: ram them home.
• 26:55
  Speaker 6: Is this not an opportunity then to come out and
• 26:58
  Speaker 6: talk about what you're going to cap Migrain? Because the
• 27:01
  Speaker 6: coalition doesn't have a plan for numbers. Yet we need
• 27:04
  Speaker 6: to know what the num is going to be, because
• 27:06
  Speaker 6: that is critical. It's all well and good and I
• 27:08
  Speaker 6: agree on a values based system, but based on the
• 27:11
  Speaker 6: budget papers tonight, is that not more evidence that you
• 27:14
  Speaker 6: must give a number to the Australian people, a firm
• 27:17
  Speaker 6: commitment of how many people you were going to let
• 27:19
  Speaker 6: in if you're elected.
• 27:20
  Speaker 3: Absolutely Otherwise it's just talk and no one really believes
• 27:23
  Speaker 3: that you're serious.
• 27:24
  Speaker 1: But the problem is, of course that the government's in a
• 27:26
  Speaker 1: real pickle because, as you point out, so much of
• 27:29
  Speaker 1: their economic plan and their numbers are predicated on getting
• 27:34
  Speaker 1: these migrants. Because if they didn't have these migrants, our
• 27:38
  Speaker 1: productivities through the floor. Things would look a hell of
• 27:41
  Speaker 1: a lot worse on paper than they do at the moment.
• 27:44
  Speaker 1: We actually see the reality of what's going on. You know,
• 27:47
  Speaker 1: the jobs we keep creating through the nda is. I
• 27:49
  Speaker 1: think the government get a real shock after they put
• 27:51
  Speaker 1: some cuts through to the nda is what it might
• 27:53
  Speaker 1: do to employment. And when they start looking at that,
• 27:56
  Speaker 1: they're like, go, oh my god, what are we going
• 27:57
  Speaker 1: to do here? Because essentially what they was bring these
• 27:59
  Speaker 1: people the government pays to give them a job and
• 28:02
  Speaker 1: then they go, hey, we've got employment growth and the
• 28:05
  Speaker 1: economy is look at all right, Well, we're not actually
• 28:08
  Speaker 1: making much at all in this country. The Australian devirol.
• 28:11
  Speaker 1: Let's have looked through some of the papers and how
• 28:13
  Speaker 1: they're covering it. The OS says seventy seven billion dollar
• 28:18
  Speaker 1: tax grab. Now I showed you before Jim Charm's going
• 28:21
  Speaker 1: about to tax cuts. But what's this all about? So
• 28:24
  Speaker 1: Jim Chalmers has unveiled seventy seven billion dollars of net
• 28:29
  Speaker 1: tax increases, but will continue to live in deficits until
• 28:32
  Speaker 1: midnext decade, with a hit on housing investments and trusts
• 28:36
  Speaker 1: dwarfing the relief of a new five dollars a week
• 28:39
  Speaker 1: tax cut. The budget reaching balance in twenty thirty four
• 28:42
  Speaker 1: to thirty five is predicted on higher taxes, predicated I
• 28:46
  Speaker 1: should say, on high taxes and optimistic projections that NDAs
• 28:50
  Speaker 1: reforms will save one hundred and eighty four point nine
• 28:52
  Speaker 1: billion dollars over a decade, as the Treasury decleares. His
• 28:56
  Speaker 1: blueprint is aimed at tackling intergenerational challenges by refe forming
• 29:00
  Speaker 1: the tech system for workers, businesses, and future generations, what
• 29:04
  Speaker 1: by charging them another seventy seven billion dollars. Is that
• 29:08
  Speaker 1: the plan? I mean, come on, you can't claim tax
• 29:10
  Speaker 1: cuts when you're making more tax revenue, can you. No?
• 29:14
  Speaker 6: Surely that's absolutely redundant, right, what a redundant statement?
• 29:16
  Speaker 4: Can I just say?
• 29:17
  Speaker 6: I love this book that The Australian has put on
• 29:19
  Speaker 6: the front page, The Joy of Tax in large and
• 29:22
  Speaker 6: updated edition since two thousand and ninety nineteen. I think
• 29:26
  Speaker 6: that's absolutely a perfect summary. It says doctor Jim Chalmers,
• 29:31
  Speaker 6: author of the charmers Sutra.
• 29:34
  Speaker 1: You considered calibrated position. I wonder if one of them
• 29:39
  Speaker 1: is that one of the price pressures that you get
• 29:42
  Speaker 1: down at your local message.
• 29:43
  Speaker 3: The other thing we didn't talk about earlier but is
• 29:45
  Speaker 3: mentioned in this article is that the gross debt our
• 29:47
  Speaker 3: national debt will surge well past a trillion dollars, yes,
• 29:51
  Speaker 3: in the lifetime of this budget. So that's a major problem,
• 29:54
  Speaker 3: historic achievement for this government.
• 29:56
  Speaker 1: Well, if we get time, we'll talk a bit more
• 29:58
  Speaker 1: about that afterwards. It also says about the NDAs, which
• 30:01
  Speaker 1: I mentioned before, Jim Charmer's aims to shave one hundred
• 30:04
  Speaker 1: and eighty five billion dollars from the NDAs in the
• 30:07
  Speaker 1: next decade to achieve structural budget repair and quote saved
• 30:10
  Speaker 1: the NDAs from itself by slashing its annual growth to
• 30:14
  Speaker 1: as little as point two percent. You know, an admirable
• 30:18
  Speaker 1: thing to try and do. But the point is it
• 30:20
  Speaker 1: should never have got out to be that big in
• 30:23
  Speaker 1: the first place. Right, this was designed by labor. Labor
• 30:26
  Speaker 1: is now having to wind it back. The pigs are
• 30:29
  Speaker 1: going to squeal. I'm not sure they realize just how
• 30:32
  Speaker 1: hard it is going to be to do this. You know,
• 30:34
  Speaker 1: Bill Shorten gave it a go and failed so much
• 30:39
  Speaker 1: so that he said, bugger this, I can't do them
• 30:41
  Speaker 1: out job and left politics. I mean, this is there
• 30:44
  Speaker 1: would imagine being the Minister responsible like Mark Butler, and
• 30:48
  Speaker 1: it is a poison chalice.
• 30:49
  Speaker 3: And this thing's been growing at such a rate and
• 30:51
  Speaker 3: they are telling us I'll get it down to an
• 30:53
  Speaker 3: annual growth rate of five percent. Ultimately that's in a
• 30:57
  Speaker 3: couple of years. I'm not sure anyone, including Mark but
• 31:00
  Speaker 3: really believes that they can do that.
• 31:01
  Speaker 4: Well, the proof's going to be in the pudding.
• 31:05
  Speaker 1: I don't think there'll be any pudding so heavily taxpayer
• 31:08
  Speaker 1: funded pudding. And also another interesting story in the front
• 31:12
  Speaker 1: of the oosits, says Charmers, the ultimate impost er. Jim
• 31:16
  Speaker 1: Charmers will become Australia's highest income taxing treasurer since records
• 31:20
  Speaker 1: were kept driven by personal collection. Hang on, I thought
• 31:23
  Speaker 1: he was the man. A tax cuts budget paper figures
• 31:26
  Speaker 1: show the total income tax is a share of GDP
• 31:29
  Speaker 1: will hit eighteen point six percent in twenty five, twenty
• 31:31
  Speaker 1: six and twenty six twenty seven, staying at similarly high
• 31:35
  Speaker 1: levels for the next three years. Once again, you can
• 31:39
  Speaker 1: go on about tax cuts all he likes. They're not
• 31:42
  Speaker 1: cutting taxes and the unspoken issue of bracket creep causes
• 31:47
  Speaker 1: a great deal of this, which, you know what, disproportionately
• 31:50
  Speaker 1: hurts young people who are trying to get up the
• 31:53
  Speaker 1: employment ladder. But we're all doing it in the name
• 31:56
  Speaker 1: of intergenerational bloody reform. Unbelievable.
• 31:58
  Speaker 4: Don't forget Caleb chosen the hard road. Oh yeah, please
• 32:03
  Speaker 4: get that line right.
• 32:03
  Speaker 6: Don't forget chosen a hard road for utra traverse exactly.
• 32:09
  Speaker 6: Jim knows what he's on about. Let's take a look
• 32:11
  Speaker 6: at the Daily Telegraph. A really great headline here your
• 32:14
  Speaker 6: capital his gain, and Charmers is laughing at all of
• 32:18
  Speaker 6: us there, Jim charmers will whack investors in a mega
• 32:21
  Speaker 6: tax hit that frees up money for more inflationary handouts
• 32:25
  Speaker 6: in the most radical redistribution of wealth since the Whitler Mirror.
• 32:28
  Speaker 6: The Treasurer's fifth budget last night locked in a major
• 32:30
  Speaker 6: broken election promise by slashing negative gearing and the capital
• 32:33
  Speaker 6: gains tax discount. It also included a forty one point
• 32:36
  Speaker 6: six billion dollars spending increase in seventy seven billion in
• 32:39
  Speaker 6: extra taxes over ten years. With that brilliant communism socialism
• 32:46
  Speaker 6: symbol right on the front there, Jim knows what he's
• 32:48
  Speaker 6: doing with your money.
• 32:49
  Speaker 3: It's a great front page. Let's have a look at
• 32:51
  Speaker 3: the front page of the Career Mail. I like this
• 32:54
  Speaker 3: one as well.
• 32:54
  Speaker 2: Jim's guide to lying the headline subtle.
• 32:58
  Speaker 1: Isn't it.
• 32:59
  Speaker 3: Treasurer Jim has given all Labor MPs a cheat sheet
• 33:02
  Speaker 3: on how to explain why the government broke two massive
• 33:05
  Speaker 3: election promises in last night's federal budget. The article goes
• 33:09
  Speaker 3: on to say MPs have been given seven different ways
• 33:14
  Speaker 3: to defend the government's decision to so blatantly break the
• 33:17
  Speaker 3: campaign promise to not touch two key issues that voters
• 33:21
  Speaker 3: rejected at the twenty nineteen election. One of these cheat
• 33:26
  Speaker 3: sheet talking points says that MPs should tell people when
• 33:31
  Speaker 3: they complain that you broke a promise, their response is
• 33:34
  Speaker 3: to be the right decision is to do the right
• 33:37
  Speaker 3: thing with the right policies at the right time, which
• 33:41
  Speaker 3: basically tries to frame breaking a promise as a moral issue.
• 33:46
  Speaker 3: Not that you've been immoral by breaking the promise, but
• 33:49
  Speaker 3: you've been moral by now breaking the promise because it's
• 33:52
  Speaker 3: the right thing to do at the right time, with
• 33:54
  Speaker 3: the right policy.
• 33:55
  Speaker 4: If I say right.
• 33:56
  Speaker 3: Enough times, people will just hypnotically go into a trance
• 34:00
  Speaker 3: and believe that, well it must be right. This is
• 34:03
  Speaker 3: treating punters like absolute mugs as Indeed, the insert says,
• 34:08
  Speaker 3: why your local MP is about to treat you as
• 34:11
  Speaker 3: a total mug?
• 34:12
  Speaker 6: Yeah, but James, any reasonable government must take those issues seriously.
• 34:17
  Speaker 3: That's the whole intergeneration thing, right, because to criticize their
• 34:20
  Speaker 3: economic policy, right there you go, Right, if you criticize
• 34:24
  Speaker 3: the economic policy, you're waging war against everybody's grandchildren. You
• 34:28
  Speaker 3: don't want your grandchildren to suffer.
• 34:30
  Speaker 1: Do you.
• 34:30
  Speaker 3: So the use of the term intergenerational is also very
• 34:33
  Speaker 3: clever as a justification for breaking their word.
• 34:37
  Speaker 1: Amazing is that let's rip through some of the other payers.
• 34:39
  Speaker 1: What do they say on the front of the Herald's
• 34:40
  Speaker 1: son They say, though Jim Ripper with headline election promises
• 34:45
  Speaker 1: dead and buried, a CGT discount, negative gearing, slashed, housing
• 34:48
  Speaker 1: supply to fall, rents rise under change is one point
• 34:51
  Speaker 1: twenty five trillion dollar debt bomb.
• 34:54
  Speaker 4: Yeah, and look at the advertiser.
• 34:56
  Speaker 6: I love this one charm again promise breaking truly dull
• 35:00
  Speaker 6: A debt man walking in homeowner tax grab love it.
• 35:04
  Speaker 4: I think that's perfect and.
• 35:05
  Speaker 1: I love how they've put all the digits there for
• 35:09
  Speaker 1: the debt.
• 35:09
  Speaker 6: It really puts in speaks amount owing, they say, amount owing.
• 35:13
  Speaker 3: If the Advertiser're going to continue that trend next to
• 35:16
  Speaker 3: our budget, they'll have to be a broadsheet rather than
• 35:18
  Speaker 3: a tabloid.
• 35:19
  Speaker 2: Indeed fit the national debt.
• 35:21
  Speaker 3: The Townshill Bulletin's gone for its grim gym. North Queensland
• 35:25
  Speaker 3: misses out in the budget of broken promises, and Caleb,
• 35:29
  Speaker 3: you've got the Canberra Times.
• 35:30
  Speaker 1: There you have a look at this one calculated risk
• 35:35
  Speaker 1: measure outlines labour's budget of broken promises. And look at
• 35:40
  Speaker 1: the photographs of the calculated it's a bit pity.
• 35:45
  Speaker 6: Well did they get those two photos from their official
• 35:48
  Speaker 6: headshots on the website and did they get that calculated
• 35:50
  Speaker 6: risk from the press very quickly?
• 35:53
  Speaker 1: Just before we get to the breaker. If you thought
• 35:55
  Speaker 1: the budget was bad enough, how about the Greens today
• 35:58
  Speaker 1: have a look at this.
• 36:00
  Speaker 5: From a lot of the reporting, it seems as if
• 36:04
  Speaker 5: the government he's going a grand person in existing arrangements.
• 36:09
  Speaker 1: I mean, come on, come along, d can't we talk
• 36:13
  Speaker 1: about grandfathering without turning it woke for good on.
• 36:16
  Speaker 4: A daylight today?
• 36:17
  Speaker 6: When there's such big issues at stake, we're talking about
• 36:19
  Speaker 6: the budget. The Greens are more worried about gender your
• 36:22
  Speaker 6: own terms?
• 36:23
  Speaker 4: What does that tell you? Seriously, we're going to go
• 36:25
  Speaker 4: to a break.
• 36:25
  Speaker 3: When we come back, Abby Chatfield tries to make amends
• 36:28
  Speaker 3: with Donald Trump, but will work. That's coming up next.
• 36:34
  Speaker 2: Well, welcome back to the program.
• 36:36
  Speaker 3: We're going to go live to Sophie Ellsworth in London
• 36:38
  Speaker 3: now for some breaking news.
• 36:40
  Speaker 2: Sophie. Things are getting a lot worse for Secure Starmer.
• 36:46
  Speaker 4: Yeah, great to be with you, James. They absolutely are.
• 36:49
  Speaker 7: We had a cabinet meeting he held at ten Downing
• 36:53
  Speaker 7: Street today.
• 36:54
  Speaker 4: This is on the back of.
• 36:55
  Speaker 7: Nearly eighty MPs here in the UK, which is the
• 36:59
  Speaker 7: required twenty percent of Labor MPs calling for his resignation,
• 37:04
  Speaker 7: on the back of those disastrous council elections last week,
• 37:08
  Speaker 7: and just in the last hour we have had three
• 37:11
  Speaker 7: ministers resign, including Safeguarding Minister Jess Phillips. But he is
• 37:17
  Speaker 7: standing firm. He's not going anywhere. He's saying he wants
• 37:21
  Speaker 7: to get on with the job. But James, this seems
• 37:24
  Speaker 7: like a rolling disaster for the Prime Minister, and all
• 37:28
  Speaker 7: the commentators here are really saying that his time is up.
• 37:33
  Speaker 7: But he has dug those heels in and he's trying
• 37:36
  Speaker 7: to move on because tomorrow is the King's Speech at
• 37:39
  Speaker 7: the House House of Parliament. So the timing of this
• 37:43
  Speaker 7: is terrible. But at the moment he remains Prime Minister.
• 37:47
  Speaker 3: Three ministers resigning in the last hour, that's amazing. It's
• 37:51
  Speaker 3: surely he does not have much time left. Sophie Ellsworth,
• 37:54
  Speaker 3: thanks so much for updating us. How long you reckoning
• 37:57
  Speaker 3: to last?
• 37:57
  Speaker 4: Anika?
• 37:58
  Speaker 6: Well, I mean I thought he would be gone surely
• 38:00
  Speaker 6: by the end of the week, but I don't know why.
• 38:02
  Speaker 6: I mean, how embarrassing imagine just going no, I'm not
• 38:04
  Speaker 6: going to move even though nobody likes you.
• 38:06
  Speaker 4: Come on, move on.
• 38:08
  Speaker 2: I thought resilience was the new buzzwords.
• 38:10
  Speaker 4: Politics is a reform the politics.
• 38:14
  Speaker 1: Leave him there, Just leave him there in basket, not
• 38:17
  Speaker 1: in the glory, just the damage or whatever he's done
• 38:20
  Speaker 1: to the joint. Just leave him there. Well make you
• 38:22
  Speaker 1: beg your line.
• 38:23
  Speaker 6: Well, well, you know, I don't think that he thinks
• 38:26
  Speaker 6: that way. Seems to think he's really fantastic. You know
• 38:29
  Speaker 6: who else has made their bed and has laid in it,
• 38:31
  Speaker 6: Abby Chatfield, you know the alleged Australian influencer g Her
• 38:35
  Speaker 6: and her partner by the name of us Kelly Holiday.
• 38:38
  Speaker 4: They're in a world of pain right now now.
• 38:40
  Speaker 6: Kelly Holiday is a singer in the band A Peaking Duck.
• 38:45
  Speaker 6: He's currently on a North America tour right now, but
• 38:48
  Speaker 6: he was refused to entry into the United States, so
• 38:51
  Speaker 6: that's thrown his entire tour into disarray.
• 38:55
  Speaker 4: Now.
• 38:55
  Speaker 6: Both Kelly Holliday and Abby Chatfield have been very vocal
• 38:59
  Speaker 6: critic of Donald Trump. In fact, Abby Chatfield and we
• 39:03
  Speaker 6: spoke about this on the show last night, she once
• 39:06
  Speaker 6: called for gun violence.
• 39:07
  Speaker 4: This is what she said.
• 39:09
  Speaker 1: Americans, when are you going to do it? Why isn't
• 39:13
  Speaker 1: it already done you? Every day?
• 39:17
  Speaker 8: There's another right, awful for your kind, true awful?
• 39:22
  Speaker 1: Right?
• 39:25
  Speaker 4: Why don't we redirect this energy to something else? Yeah?
• 39:31
  Speaker 6: Maybe that energy would have been better placed somewhere else, Abby.
• 39:35
  Speaker 3: Yes, loved as she crosses herself while calling from the
• 39:37
  Speaker 3: assassination of the US president.
• 39:39
  Speaker 6: She's holier than now, clearly clearly, Yeah, look what Probably
• 39:42
  Speaker 6: energy would have been better placed elsewhere, Abby, because ge karma.
• 39:46
  Speaker 4: Oh it's a good one, isn't It got Abby?
• 39:48
  Speaker 6: And it clearly got Kelly as well, because now she
• 39:52
  Speaker 6: has been forced to issue this.
• 39:54
  Speaker 4: Groveling and well it was. It was quite an appalling apology.
• 39:58
  Speaker 6: This was her Abby Chatfield's attempt of saying sorry for
• 40:02
  Speaker 6: her actions today.
• 40:03
  Speaker 8: The videar that I posted a year ago has come
• 40:07
  Speaker 8: back to haunt me essentially, and I honestly think that
• 40:10
  Speaker 8: I should address it and apologize for it, because while
• 40:13
  Speaker 8: I do think that it was taken out of context
• 40:16
  Speaker 8: and that the intention behind it has been stripped and warped,
• 40:20
  Speaker 8: I still think that I should talk about it and
• 40:22
  Speaker 8: apologize for it because, honestly, since posting that video a
• 40:26
  Speaker 8: year ago.
• 40:27
  Speaker 9: I have done so much growing, I have done so
• 40:33
  Speaker 9: much work to really understand the impact.
• 40:38
  Speaker 8: Of my words.
• 40:40
  Speaker 6: Wow, you are an incredible woman, Abby, You've done so
• 40:46
  Speaker 6: much hard.
• 40:47
  Speaker 4: Work on yourself.
• 40:48
  Speaker 6: You've really centered yourself since the comments where you were
• 40:51
  Speaker 6: basically calling for violence against Donald Trump.
• 40:54
  Speaker 4: So well done to you.
• 40:55
  Speaker 6: Too late, though, because you've completely bugged up your own
• 40:58
  Speaker 6: boyfriend's career. Well done and commiserations to count.
• 41:02
  Speaker 1: I'm glad you're clarified before Danika that she's been laid
• 41:05
  Speaker 1: in her bed, because that's normally the appropriate place to
• 41:07
  Speaker 1: do it. But all she's tried to really clarify here
• 41:12
  Speaker 1: is that you know, her chances of getting into the
• 41:15
  Speaker 1: US clearly are in danger as well. That's why she's
• 41:19
  Speaker 1: done it. It's too late for mister Holiday. He's coming
• 41:22
  Speaker 1: back to Australia. I think he's performing here on Thursday
• 41:24
  Speaker 1: nights or something. It's too late for him. But she's
• 41:27
  Speaker 1: obviously realized, well heck, if they've turned him off, we
• 41:31
  Speaker 1: showed that again last time. Not on that Earth's that
• 41:34
  Speaker 1: I mean? Then he's just kiddies, close your eyes, you haven't,
• 41:41
  Speaker 1: don't before you go to bed tonight. But seriously, she's
• 41:45
  Speaker 1: now realized that it means she won't be able to
• 41:47
  Speaker 1: go over there as well. They'll turn her around straight away.
• 41:50
  Speaker 1: Why she's just trying to say, Oh, don't worry about me.
• 41:52
  Speaker 2: My question for Abby Chatfield.
• 41:54
  Speaker 3: She says, the intention behind that first video calling for
• 41:57
  Speaker 3: the assassination of Donald Trump was was skewed and.
• 42:01
  Speaker 2: Was taken out of context. What was the intention then, well, growing,
• 42:08
  Speaker 2: very clear intention of that.
• 42:09
  Speaker 1: She's done a lot of growing, a lot of reform.
• 42:11
  Speaker 1: Just understand, while we're talking about doing some growing. Apparently
• 42:17
  Speaker 1: over in the United Kingdom, there's been a bit of
• 42:19
  Speaker 1: uproar about the navy uniform for women, or the ceremonial
• 42:25
  Speaker 1: Navy uniform for women, because if we've got an image
• 42:27
  Speaker 1: of it here, and the complaint is apparently that the
• 42:32
  Speaker 1: two top buttons are in the spot where one's nipples
• 42:36
  Speaker 1: would be, and some people think that's inappropriate. Now, I
• 42:40
  Speaker 1: would never have thought of that, because my mind is
• 42:42
  Speaker 1: not in the gutter, unlike Danika over there laughing her
• 42:46
  Speaker 1: head off.
• 42:46
  Speaker 6: Yeah right, you would have thought that immediately, Kaylee.
• 42:51
  Speaker 1: You would have.
• 42:51
  Speaker 6: Looked at that and you would have made that comment.
• 42:53
  Speaker 6: If we were not on air, you would have said that.
• 42:54
  Speaker 1: Headlights are on and anyway, two hundred thousand pounds to
• 43:00
  Speaker 1: redesign this has it cost two hundred thousand pounds to
• 43:04
  Speaker 1: move some buttons. I mean again, here's another government contract
• 43:09
  Speaker 1: I wish I could get my hands on. Not the
• 43:12
  Speaker 1: placement of the buttons it should be set, but the
• 43:15
  Speaker 1: design of it. I mean, you know, seriously, two hundred quid,
• 43:19
  Speaker 1: two hundred thousand.
• 43:20
  Speaker 3: That's the funny part, right, But the serious part is,
• 43:22
  Speaker 3: here's how they're going to pay for it.
• 43:23
  Speaker 2: They say the cost of the new.
• 43:25
  Speaker 3: Jacket two hundred pounds, two hundred thousand pounds will be
• 43:29
  Speaker 3: offset by a reduction in the number of uniforms issued.
• 43:33
  Speaker 3: So they're going to pay for this, and they're able
• 43:35
  Speaker 3: to pay for it because they have a decreasing number
• 43:38
  Speaker 3: of people in the military.
• 43:39
  Speaker 2: Somehow, that's good news.
• 43:41
  Speaker 3: I would have thought that's caused for major concern, far
• 43:44
  Speaker 3: more than the inappropriate placement of buttons.
• 43:46
  Speaker 6: Well, I just wonder if China's currently spending a lot
• 43:49
  Speaker 6: of money trying to rearrange the buttons on their navy
• 43:51
  Speaker 6: uniform or are they preparing themselves for war. I would
• 43:54
  Speaker 6: say it's probably the latter, and they're going the West.
• 43:57
  Speaker 4: They never learn do.
• 43:58
  Speaker 1: That, just making sure they don't have any people jackets.
• 44:00
  Speaker 1: I mean, you know what terrible, isn't it. You'd be
• 44:02
  Speaker 1: thinking about that going to war, wouldn't You don't know?
• 44:05
  Speaker 4: Oh no, no, can't fire at them.
• 44:07
  Speaker 3: No, or they leave the buttons and add some tassels.
• 44:13
  Speaker 1: Well done, James, All.
• 44:15
  Speaker 3: Right, very quickly before we go to a break, I
• 44:17
  Speaker 3: want to get your thoughts on parents hitting back against
• 44:21
  Speaker 3: the promotion of pride and LGBTQ issues in their local school.
• 44:25
  Speaker 3: This is a school in South Australia, your neck of
• 44:28
  Speaker 3: the woods, Caleb. They've invited students via a email to
• 44:33
  Speaker 3: wear rainbow accessories, scrunchy socks, wristbands or ribbon pins as
• 44:38
  Speaker 3: a symbol of support for LGBTQ plus students.
• 44:44
  Speaker 2: Now parents are out rived about this UIA plus sorry,
• 44:47
  Speaker 2: whatever it is. Parents are outraged.
• 44:49
  Speaker 3: The schools for kids from prep right through to year
• 44:54
  Speaker 3: twelve and so parents are going to stage a protest
• 44:57
  Speaker 3: outside the school. I thought comment from the Education Department
• 45:01
  Speaker 3: Chief Executive or interesting. He said that no directive is
• 45:05
  Speaker 3: given to schools. They don't have to celebrate this day
• 45:07
  Speaker 3: if they don't want to. However, the Department encourages schools
• 45:11
  Speaker 3: to celebrate this day because it promotes safety and inclusive environments,
• 45:16
  Speaker 3: and these are core principles for the Education Department, because
• 45:20
  Speaker 3: we want students to be respected and valued, so we
• 45:24
  Speaker 3: don't demand.
• 45:25
  Speaker 2: That schools do this.
• 45:26
  Speaker 3: But that's a pretty strong hint that if you don't know,
• 45:29
  Speaker 3: the department are unimpressed.
• 45:30
  Speaker 1: What a lot of tosh good on the parents for protesting.
• 45:33
  Speaker 1: The day is called the International Day against Homophobia, bi Phobia,
• 45:37
  Speaker 1: inter sexism and Transphobia.
• 45:40
  Speaker 4: Which idah hobbs.
• 45:42
  Speaker 1: Down to Ida Hobbit. And when I heard about Ida
• 45:45
  Speaker 1: Hobbit Day, I thought it was about the Lord of
• 45:46
  Speaker 1: the Rings.
• 45:48
  Speaker 6: I was condoning too when I read the headline, What
• 45:50
  Speaker 6: the heck is Ida Hobbit?
• 45:51
  Speaker 1: What do the Hobbits have to do with the Hobbits
• 45:53
  Speaker 1: doing there?
• 45:53
  Speaker 4: I mean, celebrate? Can I just say well done to
• 45:55
  Speaker 4: these parents? Well done?
• 45:57
  Speaker 3: All right, we're going to go to a break when
• 45:58
  Speaker 3: we come back. Penny warm was of course in Parliament
• 46:02
  Speaker 3: today for the budget, and she looked less than impressed.
• 46:06
  Speaker 3: We'll show you why after this. What's fair to say
• 46:12
  Speaker 3: that most of us weren't that impressed with the federal
• 46:15
  Speaker 3: budget but there were some other people unimpressed as well.
• 46:18
  Speaker 6: Yeah, if you have a look at Penny Wong tonight
• 46:23
  Speaker 6: in the chamber, Oh, go on.
• 46:27
  Speaker 4: There is that the bird. Was she flipping it to Jimbo?
• 46:30
  Speaker 6: I'm not sure, but based on that, Penny doesn't look
• 46:35
  Speaker 6: too happy, doesn't.
• 46:35
  Speaker 1: I mean, of all the fingers to choose to adjust
• 46:39
  Speaker 1: your glasses, I mean, I think she may well be
• 46:42
  Speaker 1: sending a message that the rest of us were feeling.
• 46:45
  Speaker 4: Yeah, I think so too. Who well, I thought it
• 46:46
  Speaker 4: would have come from Penny.
• 46:47
  Speaker 3: Our politicians are supposed to be our representatives, and I'd
• 46:50
  Speaker 3: say she's representing the feelings of most people in the electric.
• 46:53
  Speaker 1: Indeed, just as I am now representing my feelings about
• 46:56
  Speaker 1: the people were on the late debate and now a
• 46:59
  Speaker 1: couple of other interesting things out of the budgets very
• 47:01
  Speaker 1: quickly in the budget speech, because he is a written
• 47:04
  Speaker 1: copy of the speech, you can find it online, the
• 47:07
  Speaker 1: doctor Chalmers, the treat was meant to say tonight, we
• 47:09
  Speaker 1: are proud to have backed twenty one billion dollars in
• 47:12
  Speaker 1: wage rises for women working in sectors like aged care
• 47:15
  Speaker 1: and childcare, which have been undervalued for too long. That's
• 47:19
  Speaker 1: what he had written in front of him. But this
• 47:21
  Speaker 1: is what he actually said.
• 47:24
  Speaker 5: We're proud to have backed twenty one billion dollars in
• 47:27
  Speaker 5: wage rises women working in sectors like age care and
• 47:30
  Speaker 5: early childhood education, which have been undervalued for too long.
• 47:35
  Speaker 1: Jesus saw actually the clip of Penny going like that.
• 47:38
  Speaker 1: You're really impressed in she But notice in the written
• 47:40
  Speaker 1: speech it said childcare, and he's swapped it tonight for
• 47:44
  Speaker 1: early childhood education. I don't reckon that's a mistake. I
• 47:48
  Speaker 1: think he does it because to talk about early childhood
• 47:52
  Speaker 1: education makes it sound a lot more serious and important
• 47:55
  Speaker 1: than childcare, which all feeds into this business. They want
• 47:58
  Speaker 1: to get your kids away from you early and get
• 48:00
  Speaker 1: them to someone else as soon as they can. Just
• 48:03
  Speaker 1: that those subtle changes in language, I think are important.
• 48:07
  Speaker 2: I'm very impressed that you've picked that up. You're following
• 48:09
  Speaker 2: that speech very closely.
• 48:10
  Speaker 1: I was, indeed, what they pay me for?
• 48:13
  Speaker 2: What's that old expression?
• 48:14
  Speaker 3: There's lies, damn lies and government forecast have listened to
• 48:19
  Speaker 3: Jim Chalmers making it sound like the national gross debt
• 48:22
  Speaker 3: is actually coming down.
• 48:25
  Speaker 5: Gross debt will be nine hundred and eighty two billion
• 48:27
  Speaker 5: dollars at the end of this financial year, and it
• 48:30
  Speaker 5: peaks lower, it peaks earlier, and is lower in every
• 48:34
  Speaker 5: year for the next eleven years. And this means in
• 48:36
  Speaker 5: share of economy terms, gross and net debt remain well
• 48:40
  Speaker 5: below what we inherited in every year going forward, debt
• 48:45
  Speaker 5: is lower and the budget position is stronger in every
• 48:47
  Speaker 5: year of the medium term because of our savings.
• 48:51
  Speaker 3: So if I'm understanding this correctly, the debt will be
• 48:54
  Speaker 3: lower than forecast, but it continues to go up in
• 48:58
  Speaker 3: real terms, so it's not saving any money. We're digging
• 49:02
  Speaker 3: a deeper hole while they're claiming to be ahead of
• 49:04
  Speaker 3: the curve.
• 49:05
  Speaker 1: And if you turned on the tell you some mug
• 49:07
  Speaker 1: punter and listen to that, you'd think, oh jeez, the
• 49:09
  Speaker 1: dead's going down. The det's not going very trick.
• 49:12
  Speaker 2: Don't believe Jim spin tricky Jim.
• 49:15
  Speaker 3: There you go.
• 49:15
  Speaker 2: That's it from us.
• 49:16
  Speaker 4: Stick around.
• 49:16
  Speaker 3: Coming up is Newsnight, Good night,