Latest / The Bolt Report / The Bolt Report | 8 July

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The Bolt Report | 8 July · The Bolt Report

• 0:11
  Speaker 1: Gibbs, it's the report.
• 0:14
  Speaker 2: Good evening, and welcome to the Bolt Report. I'm Danikiti
• 0:16
  Speaker 2: Giorgio coming up tonight. The Reserve Bank gives Labor a
• 0:19
  Speaker 2: vote of no confidence in its handling of the economy
• 0:22
  Speaker 2: after its decision to keep rates on hold. I'll get
• 0:25
  Speaker 2: expert analysis shortly. Anthony Alberesi snaps at reporters when quizzed
• 0:30
  Speaker 2: about his response to the anti Semitism crisis and a
• 0:34
  Speaker 2: historic meeting at the White House, says Benjamin Ett Yahou
• 0:37
  Speaker 2: nominates Donald Trump for the Nobel Peace Prize. But first tonight,
• 0:42
  Speaker 2: disaster today for Labor, with confirmation it has not got
• 0:46
  Speaker 2: a hold of the economy. The Reserve Bank governor has
• 0:49
  Speaker 2: defied Jim Charmers and has decided to keep interest rates
• 0:53
  Speaker 2: on hold. The cash rate remains at three point eighty
• 0:57
  Speaker 2: five percent, and this result has shot economists and financial
• 1:01
  Speaker 2: markets who expected a quarter percentage point rate cut. And Gee,
• 1:06
  Speaker 2: the Treasurer could barely hold back his disappointment.
• 1:11
  Speaker 3: I don't second guest decisions taken independently by the Bank
• 1:14
  Speaker 3: or its board. I don't make predictions or preempt future
• 1:18
  Speaker 3: movements in interest rates. I'm focused on my job, and
• 1:23
  Speaker 3: the Governor has an opportunity to talk through some of
• 1:25
  Speaker 3: the considerations that they weighed up around the Reserve Bank
• 1:29
  Speaker 3: boardroom table over the course of the last couple of days.
• 1:34
  Speaker 4: So what does all this mean.
• 1:36
  Speaker 2: Well, the biggest message the RBA has sent today through
• 1:39
  Speaker 2: its cautious approach is that cost of living is still
• 1:44
  Speaker 2: an issue in this country.
• 1:47
  Speaker 5: I'm also really conscious that we don't want to end
• 1:50
  Speaker 5: up having to fight inflation again. We want to make
• 1:54
  Speaker 5: sure we've nailed it. And as I said, the biggest
• 1:58
  Speaker 5: thing here is that it wasn't really directionally where we
• 2:02
  Speaker 5: think we're heading in terms of eating.
• 2:04
  Speaker 2: I mean, if the RBA was so confident that inflation
• 2:08
  Speaker 2: was indeed under control, they would have cut rates today.
• 2:12
  Speaker 2: Everyone expected a cut today. The RBA had the green
• 2:15
  Speaker 2: light from the market and from economists. It was meant
• 2:18
  Speaker 2: to be guaranteed good news for mortgage holders. But the
• 2:22
  Speaker 2: board is worried about cost of living and it could
• 2:26
  Speaker 2: get worse under this government. There are no guarantees that
• 2:29
  Speaker 2: things are going to get better despite the Treasurer's assurances.
• 2:34
  Speaker 3: I've got my own job to focus on the Reserve Bank,
• 2:36
  Speaker 3: It's board and its gatherner has its own job to
• 2:39
  Speaker 3: focus on. Now, we have the same objective here, which
• 2:42
  Speaker 3: is to get inflation down. We've made good progress together,
• 2:45
  Speaker 3: but we've got different responsibilities, and I decided some time
• 2:49
  Speaker 3: ago that the best way for the Reserve Bank to
• 2:52
  Speaker 3: discharge its responsibilities is without political commentary or anything that
• 2:57
  Speaker 3: might be construed as interference.
• 3:01
  Speaker 4: Well, let's talk about inflation.
• 3:03
  Speaker 2: The CPI figure for the month of May came in
• 3:05
  Speaker 2: at two point one percent, down from two point four
• 3:07
  Speaker 2: percent in April. But the underlying inflation was down to
• 3:10
  Speaker 2: two point four percent in May from two point eight percent.
• 3:14
  Speaker 4: But this is key.
• 3:15
  Speaker 2: The Governor, Michelle Bullock, says that she needs more economic
• 3:18
  Speaker 2: data to be truly satisfied.
• 3:22
  Speaker 5: There was a couple of components in that monthly CPI
• 3:26
  Speaker 5: that suggested to us that the quarterly CPI might be
• 3:29
  Speaker 5: a little bit higher than what been in forecasting in May.
• 3:33
  Speaker 5: Now that doesn't necessarily mean that we're off track, but
• 3:35
  Speaker 5: we just want to get the data to confirm that
• 3:39
  Speaker 5: we are pretty much on track.
• 3:42
  Speaker 4: Yeah, Labor, we'll keep telling you it's slayed the inflation dragon.
• 3:46
  Speaker 3: Under the life of this government. We've got inflation.
• 3:49
  Speaker 6: Down with the continued reduction in inflation down to two
• 3:53
  Speaker 6: point one percent.
• 3:54
  Speaker 3: And in fact, at the same time we brought inflation down,
• 3:57
  Speaker 3: get real wages growing again. At a time that we're
• 4:00
  Speaker 3: getting inflation down as well.
• 4:02
  Speaker 4: We've also seen inflation coming down.
• 4:05
  Speaker 6: Working together, we have broad inflation down without sacrificing people's jobs.
• 4:11
  Speaker 4: Well not according to the RBA.
• 4:13
  Speaker 2: It's said wages growth remains elevated and that productivity is
• 4:17
  Speaker 2: weak and Labour has done nothing to help productivity in
• 4:20
  Speaker 2: its first term. In fact, many of their policies are hurting. Firstly,
• 4:25
  Speaker 2: it's dished out energy subsidies willy nilly. Now we knew
• 4:29
  Speaker 2: that when they peter out that that will put pressure
• 4:31
  Speaker 2: on inflation. They were always going to be temporary. In
• 4:35
  Speaker 2: the last six months, inflation figures have been temporarily and
• 4:38
  Speaker 2: falsely altered by Labour's electricity subsidies, both state and federally,
• 4:42
  Speaker 2: Because of course, it means that you and I are
• 4:44
  Speaker 2: helping to pay for each other's electricity bills. Subsidies are
• 4:48
  Speaker 2: a great way to trick the Reserve Bank into thinking
• 4:50
  Speaker 2: that Labour has got a big hold on the economy. Secondly,
• 4:54
  Speaker 2: through record government spending. In fact, Labour's spending will reach
• 4:58
  Speaker 2: more than thirty thousand dollars per person within four years,
• 5:02
  Speaker 2: eclipsing government expenditure during the pandemic and reaching the highest
• 5:06
  Speaker 2: per capita levels on record. Already this year, government spending
• 5:10
  Speaker 2: has been running at one thousand dollars per capita, above
• 5:13
  Speaker 2: the pandemic peak of twenty five thousand, five hundred dollars.
• 5:17
  Speaker 2: It means that the Prime Minister is spending more now
• 5:20
  Speaker 2: than what we ever did during the pandemic.
• 5:23
  Speaker 4: And of course we know the result. We know the.
• 5:25
  Speaker 2: Result of all this one point two trillion dollars in debt,
• 5:31
  Speaker 2: and of course it's the same for the states.
• 5:32
  Speaker 4: Take Victoria for example.
• 5:34
  Speaker 2: The Alan government is continuing to spend more than it
• 5:38
  Speaker 2: takes in. And thirdly, we've got a look at record migration.
• 5:43
  Speaker 2: More than one point one million migrants have come into
• 5:46
  Speaker 2: this country since Labor was elected in twenty twenty two,
• 5:49
  Speaker 2: artificially propping up GDP.
• 5:52
  Speaker 4: So it's easy for Anthony Albanesi and.
• 5:54
  Speaker 2: The Treasurer to say, oh, well, look we haven't had
• 5:56
  Speaker 2: a recession. Inflation has come down, but everything's gone up
• 6:01
  Speaker 2: and inflation stayed higher for longer, and the opposition says
• 6:05
  Speaker 2: it's getting harder and harder for families.
• 6:08
  Speaker 7: The average mortgage holder will pay around one thousand, nine
• 6:12
  Speaker 7: hundred dollars more every month in additional interest payments than
• 6:17
  Speaker 7: what they were paying before labor came to office. Australian
• 6:21
  Speaker 7: households are on their knees, industries are collapsing, businesses are
• 6:26
  Speaker 7: falling over because labor cannot manage the economy. We've seen
• 6:31
  Speaker 7: around the world comparable jurisdictions bring down interest rates sooner
• 6:36
  Speaker 7: than what we are seeing in Australia.
• 6:39
  Speaker 2: The reality is the RBA has hesitated today because labor
• 6:43
  Speaker 2: cannot give it the assurances.
• 6:44
  Speaker 4: It needs to cut rates.
• 6:47
  Speaker 2: And this is certainly not the economy that once made
• 6:49
  Speaker 2: us one of the best in the world, and Labour's
• 6:52
  Speaker 2: constant platitudes and its round tables like its upcoming Economic summit,
• 6:57
  Speaker 2: will not change it. Joining me now for more on
• 7:03
  Speaker 2: this and the rest of the day's news is National
• 7:05
  Speaker 2: Senator Matt Canavan, Senator, it's nice to catch up with you.
• 7:08
  Speaker 4: Thanks so much for joining me.
• 7:09
  Speaker 2: Firstly, what is your reaction to today's interest rates decision?
• 7:15
  Speaker 8: Well, look, it's disappointing for Australian families. They've been doing
• 7:18
  Speaker 8: it tough. Now for the last three years under this
• 7:21
  Speaker 8: labor government, so living stands have never dropped this fast,
• 7:25
  Speaker 8: and a big part of it, big part of the
• 7:27
  Speaker 8: reasons is the very high interest rates we've seen over
• 7:30
  Speaker 8: the past three years. And now that's adding to someone
• 7:33
  Speaker 8: with the average homelan it's adding about twelve thousand dollars
• 7:35
  Speaker 8: a year to their homelan repayments. That's a lot of money.
• 7:39
  Speaker 8: So I think Australian families we're expecting this relief. I mean,
• 7:42
  Speaker 8: the key reason why we're not seeing interest rates fall
• 7:45
  Speaker 8: is because under labor we've seen the biggest and steepest
• 7:50
  Speaker 8: fall in productivity levels in our nation's history. In the
• 7:53
  Speaker 8: first term, the first three years of the Labor government,
• 7:56
  Speaker 8: productivity fell by more than five percent in Australia. Now
• 8:00
  Speaker 8: there's never been anything like that over a three year period.
• 8:03
  Speaker 8: The biggest reduction prior to that had been half percent
• 8:05
  Speaker 8: during the recession we had to have under Paul Keating,
• 8:08
  Speaker 8: so he had the biggest fall over three year period
• 8:11
  Speaker 8: of being half percent.
• 8:12
  Speaker 1: Then Anthony alb Albanezi comes along.
• 8:14
  Speaker 8: Not only breaks this record record fall and productivity, he
• 8:18
  Speaker 8: smashes it, smashes it and ends up with more than
• 8:21
  Speaker 8: ten times that fall and the Paul keating to over
• 8:24
  Speaker 8: five percent. That's why interest rates really higher than they
• 8:28
  Speaker 8: need to be, because if we're not producing as much
• 8:30
  Speaker 8: as we used to, which we're not, that means there's
• 8:33
  Speaker 8: too much money out there chasing too few goods, and
• 8:35
  Speaker 8: the Reserve Bank therefore has to keep interest rates higher
• 8:38
  Speaker 8: for longer than they were otherwise would be. Now, finally,
• 8:40
  Speaker 8: you see Jim Chalmers as convening a productivity roundtable. He
• 8:44
  Speaker 8: didn't invite the Productivity Commission to his Jobs and Skills
• 8:46
  Speaker 8: summit three years ago. I bet you they're regretting that decision.
• 8:50
  Speaker 8: Now they're having a productivity round table. But it seems
• 8:52
  Speaker 8: to have more from what was meant to be about
• 8:54
  Speaker 8: productivity to just simply be about how high we can
• 8:57
  Speaker 8: jack taxes on the rest of the country to save
• 9:00
  Speaker 8: their failing budgets. So I don't know if this is
• 9:02
  Speaker 8: going to deliver the economic dividend or the interest rate
• 9:05
  Speaker 8: reductions we could have if we had a serious agenda
• 9:08
  Speaker 8: to have a stronger economy.
• 9:10
  Speaker 4: Good point.
• 9:10
  Speaker 2: You know, a couple of days ago he flagged that
• 9:13
  Speaker 2: there will be some sort of tax re form.
• 9:15
  Speaker 4: Today he was even asked about the GST and he
• 9:18
  Speaker 4: got very testy about it.
• 9:19
  Speaker 2: So you know, who knows what's to come. I think
• 9:22
  Speaker 2: you're spot on there, Matt. Now, look a lot of
• 9:24
  Speaker 2: talk about the global impact on the rates decision. Donald
• 9:27
  Speaker 2: Trump has kept the conversation alive about his tariffs as.
• 9:30
  Speaker 4: He unveiled a whole new raft of ones.
• 9:33
  Speaker 2: He's told about fourteen trade partners via a letter that
• 9:37
  Speaker 2: sharply higher tariffs will begin at the start of August.
• 9:39
  Speaker 4: But I found this to be interesting, Matt.
• 9:41
  Speaker 2: The Productivity Commission here says that Australia will actually benefit
• 9:45
  Speaker 2: from some of the tariffs because some global capital flows
• 9:48
  Speaker 2: will be redirected towards US.
• 9:49
  Speaker 1: What do you make of that, Well, we've seen that.
• 9:53
  Speaker 8: I mean we saw a few months ago the chicken
• 9:56
  Speaker 8: littles among us all saying the sky was going to
• 9:59
  Speaker 8: fall in because Donald Trump made an announcement on tariffs.
• 10:02
  Speaker 8: But when you looked at the detail, you could see that. Take,
• 10:05
  Speaker 8: for example, Australian beef. It was going to go into
• 10:08
  Speaker 8: the US at a ten percent tariff, and our big
• 10:10
  Speaker 8: competitors in the beef market in the US Canada and Mexico,
• 10:14
  Speaker 8: and they were facing a twenty five percent tariff. So
• 10:16
  Speaker 8: clearly it was going to be a good news for
• 10:18
  Speaker 8: Australian beef, but that level of detail was missed in
• 10:21
  Speaker 8: the original reporting. I'm up here in the beef capital
• 10:24
  Speaker 8: in Central Queensland, and the beef industry has done very
• 10:27
  Speaker 8: very well since the announcement in Australia, has many other
• 10:30
  Speaker 8: Australian industries. So we're just not seeing those dire conclusions.
• 10:33
  Speaker 8: And I know the government would love to be able
• 10:35
  Speaker 8: to blame Donald Trump for him eating their homework, but
• 10:39
  Speaker 8: that's not the reason our economies in the doldrums, and
• 10:42
  Speaker 8: it's not having a huge impact on.
• 10:44
  Speaker 1: The broader issue.
• 10:45
  Speaker 8: I mean, Donald Trump is calling out the high tariffs
• 10:48
  Speaker 8: and high protection levels of other countries. I think we've
• 10:51
  Speaker 8: got off scott largely Scott free so for now because
• 10:54
  Speaker 8: we haven't had those high barriers. But for example, everyone
• 10:57
  Speaker 8: talks about Donald Trump's tariffs, but Australian beef still faces
• 11:01
  Speaker 8: a twenty five percent tariff to get into Japan. I mean,
• 11:03
  Speaker 8: people don't talk about that it's a twenty five percent
• 11:05
  Speaker 8: tariff to go to Japan, and were still expo lot
• 11:07
  Speaker 8: of beef to Japan, but that's their trade barriers. They
• 11:09
  Speaker 8: have very high trade barriers in many Asian countries, in
• 11:12
  Speaker 8: European countries, and they've gone away with it for a
• 11:15
  Speaker 8: long time.
• 11:16
  Speaker 1: Now, I all say they build support free trade.
• 11:19
  Speaker 8: Now that Donald Trump's acted, Well, how about they actually
• 11:22
  Speaker 8: practice what they preach.
• 11:23
  Speaker 2: Yeah, absolutely, you're not wrong. Nobody speaks about that beef.
• 11:27
  Speaker 4: You're right. Now. Look this.
• 11:29
  Speaker 2: I was shocked when I read this this morning, Matt.
• 11:31
  Speaker 2: More than one and a half million dollars of our
• 11:33
  Speaker 2: money were spent sending at least seventy five public servants
• 11:37
  Speaker 2: to a UN climate change summit in Azerbaijan last year.
• 11:41
  Speaker 4: It was an.
• 11:41
  Speaker 2: Average cost of twenty grand Ahead. It's also been revealed
• 11:45
  Speaker 2: that at the last three conferences of the party's summits,
• 11:48
  Speaker 2: the Australian pavilion on the conference floor cost about a
• 11:51
  Speaker 2: million dollars each. You'd think it's a joke, Matt, but
• 11:54
  Speaker 2: no it's not. That's how much we're spending of taxpayers
• 11:57
  Speaker 2: money to go look at climate change when we can't
• 12:00
  Speaker 2: even keep the lights on in our own backyard.
• 12:04
  Speaker 8: How the hell can you spend twenty grand Ahead, Well,
• 12:07
  Speaker 8: the conference only goes for a few days. Well, most
• 12:09
  Speaker 8: of the delegates are surely only there for a few days.
• 12:11
  Speaker 8: How do you spend twenty thousand dollars per person? I mean,
• 12:14
  Speaker 8: give me, I'd go on a pretty good European holiday,
• 12:17
  Speaker 8: That's what we all would.
• 12:19
  Speaker 1: But I'm not asking for that.
• 12:22
  Speaker 8: I don't think the taxpayer should be funding that, and
• 12:24
  Speaker 8: I don't think they should be funding this rubbish because
• 12:26
  Speaker 8: the other question to ask you is what have they got?
• 12:28
  Speaker 8: What have they delivered for this enormous spending the whole
• 12:32
  Speaker 8: time I've been going to these climate conferences, guess what?
• 12:35
  Speaker 8: Carbon emissions continue to go up. In fact, since the
• 12:39
  Speaker 8: since the Glasgow Climate Conference where the world apparently signing
• 12:43
  Speaker 8: for zero missions, coal mining in China, India, Indonesia and
• 12:47
  Speaker 8: Mongolia has increased by one point two billion tons a year.
• 12:52
  Speaker 8: That's the increase We only produced in Australia every year
• 12:55
  Speaker 8: four hundred and fifty million tons, so nearly three times
• 12:58
  Speaker 8: that amount has been the increase in the country.
• 13:00
  Speaker 1: So it's all been for nought.
• 13:02
  Speaker 8: And maybe some of these officials have had a wonderful
• 13:04
  Speaker 8: European or other wherever they go these days holiday at
• 13:08
  Speaker 8: the taxpace time and keeping on. This is just this
• 13:11
  Speaker 8: is just the very thin edge of the wedge. The
• 13:13
  Speaker 8: Labor Party now wants to host the whole shebang. They
• 13:16
  Speaker 8: want to host the climate change conference here in Australia
• 13:19
  Speaker 8: next year. That Glasgow conference I just mentionedst that cost
• 13:23
  Speaker 8: UK taxpayers five hundred million dollars Australia and so that's
• 13:27
  Speaker 8: about what the bill will be up for. This could
• 13:29
  Speaker 8: be Voice two point zero. Now, well, this will be
• 13:33
  Speaker 8: the anthey Albanezi's second term voice where he spends half
• 13:36
  Speaker 8: a billion dollars on a useless climate conference that produces
• 13:39
  Speaker 8: no results, just like the Voice did.
• 13:41
  Speaker 1: And it's money we have to borrow.
• 13:42
  Speaker 2: We don't have it, no exactly baffles It just baffles
• 13:46
  Speaker 2: the mind that they want to hold it here in Australia.
• 13:48
  Speaker 4: What an absolute waste of money? Before we let you go.
• 13:50
  Speaker 2: The Prime Minister today has confirmed that he will visit
• 13:53
  Speaker 2: China this weekend. Four meetings with China, Matt none with
• 13:57
  Speaker 2: the US. Why is the Prime Minister with China?
• 14:03
  Speaker 8: Well, I think people probably draw their own conclusions there.
• 14:07
  Speaker 8: I think the problem is that the Prime Minister, as
• 14:09
  Speaker 8: he said once, says he's in politics to fight Tories.
• 14:13
  Speaker 1: He's you know, he didn't when he was asked why
• 14:15
  Speaker 1: are you in politics.
• 14:15
  Speaker 8: He didn't say it's to defend our country, to pursue
• 14:18
  Speaker 8: the best interests of Australia.
• 14:20
  Speaker 1: It was to defeat Torris.
• 14:21
  Speaker 8: So the clearly the Albaneze government has been in a
• 14:25
  Speaker 8: period of mourning since Donald Trump won the election of
• 14:28
  Speaker 8: the United States because they don't like right wing and
• 14:30
  Speaker 8: conservative people winning elections. Now Chijing Ping's not right wing
• 14:34
  Speaker 8: or conservative, he's communists, so they feel close to him.
• 14:37
  Speaker 1: But they've got it.
• 14:38
  Speaker 8: When you leave our shaws, when you leave Australia and
• 14:41
  Speaker 8: go and represent the Australian government, you need to put
• 14:44
  Speaker 8: those partisan political interests aside and put the nation's interests first.
• 14:48
  Speaker 8: And this is a very scary time for our country
• 14:50
  Speaker 8: because clearly our nation's interests continue to be to have
• 14:54
  Speaker 8: a strong relationship with the United States, our most important
• 14:57
  Speaker 8: friend and ally in the region, a fellow democratic we
• 15:00
  Speaker 8: have a long history with fighting alongside whoever is in
• 15:03
  Speaker 8: the White House.
• 15:03
  Speaker 1: That has to happen.
• 15:05
  Speaker 8: And clearly an aggressive totalitarian regime who has recently conducted
• 15:11
  Speaker 8: live fire exercises underneath a civilian flight path near Australia
• 15:15
  Speaker 8: without warning is not this kind of friend or ally
• 15:18
  Speaker 8: like the United States is so the preum has got
• 15:20
  Speaker 8: some explaining due to the Istrail people. And I don't
• 15:22
  Speaker 8: think he's being upfront with Australians about why he hasn't
• 15:25
  Speaker 8: gone to Washington, DC to visit Donald Trump.
• 15:27
  Speaker 2: No, and you just gave one example there. But this
• 15:30
  Speaker 2: is why we need the US more than ever. Matt Canavan,
• 15:32
  Speaker 2: good to catch up. Thanks so much for joining me
• 15:34
  Speaker 2: on the show this evening. Well, Liberal candidates in battleground
• 15:37
  Speaker 2: seats could be chosen by the general public via US
• 15:41
  Speaker 2: style primaries under a radical plan to rebuild the party's
• 15:44
  Speaker 2: grassroots support. The Daily Telegraph is reporting that a push
• 15:47
  Speaker 2: for candidates to be selected by open primaries is gaining
• 15:51
  Speaker 2: traction within the New South Wales Liberal Parties senior ranks
• 15:54
  Speaker 2: as a way to win back electorates.
• 15:56
  Speaker 4: Lost to the Tials Now. Under this primary.
• 15:58
  Speaker 2: System, local voters would be given to say in selecting
• 16:01
  Speaker 2: Liberal candidates, even if they're not paid up by Liberal
• 16:05
  Speaker 2: Party members now.
• 16:06
  Speaker 4: The plan is being championed.
• 16:07
  Speaker 2: By the opposition's Legal affairs spokesperson Julian Lisa, who said
• 16:10
  Speaker 2: that primaries would help the Liberal Party increase diversity. Jody
• 16:15
  Speaker 2: now is Shadow Cabinet Secretary Andrew Wallace Andrew, thank you
• 16:18
  Speaker 2: so much for joining me.
• 16:20
  Speaker 4: Do you support this proposal?
• 16:24
  Speaker 9: What I support, Danika, is this is an opportunity for
• 16:28
  Speaker 9: the Liberal Party, for the parliamentary wing of the Liberal Party,
• 16:31
  Speaker 9: to look at all options to try and get an
• 16:35
  Speaker 9: appeal to more Australians. You know, we had our and
• 16:39
  Speaker 9: absolutely trouncing at the last selection and I think we
• 16:42
  Speaker 9: need to have a position that all options are on
• 16:47
  Speaker 9: the table. And I think when you look at what
• 16:49
  Speaker 9: has happened over the last couple of terms, the Tials
• 16:53
  Speaker 9: have done this very well. They have engaged with the
• 16:57
  Speaker 9: broader community first and in engaging with the broader community,
• 17:02
  Speaker 9: they've then gone on and found a candidate. And we
• 17:05
  Speaker 9: kind of do the opposite in the Liberal Party. We
• 17:07
  Speaker 9: find a candidate and then expect them to go out.
• 17:10
  Speaker 9: So look, I haven't made a view on this yet.
• 17:15
  Speaker 9: This is something that's been put forward by my colleagues,
• 17:19
  Speaker 9: Julian Lisa, my friend and colleague Julian Lisa. I think
• 17:22
  Speaker 9: it's worthwhile considering as I think there's a lot of
• 17:26
  Speaker 9: other things and I was on your show a couple
• 17:28
  Speaker 9: of days ago, Janika, when I said that the Queensland
• 17:32
  Speaker 9: l MP did a fantastic job at the last state
• 17:34
  Speaker 9: election in encouraging more women to stand and won their seats.
• 17:41
  Speaker 9: So you know, this is not a binary type situation.
• 17:47
  Speaker 9: I think that we should be looking at all options
• 17:49
  Speaker 9: on the table to not just appeal to a broader subset,
• 17:52
  Speaker 9: but also to get more women in the party too.
• 17:55
  Speaker 2: Well, I guess the question would be, you know, we've
• 17:58
  Speaker 2: got Anthony Albanezi being an embarrassment on the world stage.
• 18:02
  Speaker 2: We've got anti semitism here, we've got cost of living.
• 18:05
  Speaker 2: The Liberal Party is doing a lot of talking about
• 18:07
  Speaker 2: itself right now. I mean we're now talking about preselection,
• 18:11
  Speaker 2: we're talking about gender quotas.
• 18:13
  Speaker 4: I just wonder is that really.
• 18:14
  Speaker 1: A strategy that tonight A Danika?
• 18:17
  Speaker 2: Well, and I get that, but I think that you're
• 18:19
  Speaker 2: looking at a strategy of how you can win the
• 18:20
  Speaker 2: next election as opposed to telling the general public, Hey,
• 18:24
  Speaker 2: this is how we're going to help you and how
• 18:26
  Speaker 2: we're going to make your lives better.
• 18:29
  Speaker 4: How would you respond to that?
• 18:32
  Speaker 9: Well, you know, we're talking about this tonight. I'd rather
• 18:36
  Speaker 9: be talking about policy rather than gender quotas and that
• 18:41
  Speaker 9: sort of thing. I think that at the end of
• 18:44
  Speaker 9: the day, this is a time after the general election
• 18:49
  Speaker 9: for us to regroup, look at all of our policies,
• 18:52
  Speaker 9: look at our procedures, which is something that I'm certainly
• 18:55
  Speaker 9: doing from a shadow cabinet perspective as its secretary, because
• 19:01
  Speaker 9: we need to be a lot fitter, We need to
• 19:03
  Speaker 9: be matched, ready to take the fight up to the
• 19:07
  Speaker 9: Labor Party.
• 19:08
  Speaker 1: But look, you're.
• 19:10
  Speaker 9: Right, we do need to be talking more about the
• 19:13
  Speaker 9: community and how we're going to be representative of them
• 19:17
  Speaker 9: and service them better and keep the government to account.
• 19:21
  Speaker 9: God knows they're giving us enough ammunition and really did
• 19:24
  Speaker 9: in the last election give us plenty of ammunition to
• 19:28
  Speaker 9: take the fight up to them.
• 19:30
  Speaker 1: But you know, look, I would just say bear with us.
• 19:33
  Speaker 1: This is an opportunity for us.
• 19:36
  Speaker 9: Over the next little while to really look and see
• 19:40
  Speaker 9: how we can do things better. The last thing we
• 19:43
  Speaker 9: should be doing is rushing into anything this shortly after
• 19:47
  Speaker 9: the general election. And as I said, I think we should.
• 19:50
  Speaker 1: Keep all options on the table.
• 19:52
  Speaker 2: With a lot of things all right, I want to
• 19:54
  Speaker 2: move on to some of the issues of the day.
• 19:56
  Speaker 2: I've got to say the Prime Minister, how to real
• 19:58
  Speaker 2: hissy fit of a day Andrew, he was snapping it
• 20:01
  Speaker 2: about every question that reporters asked of him.
• 20:03
  Speaker 4: Here he was on anti semitism.
• 20:06
  Speaker 10: Jewish community leaders saying that the sixty million dollars in
• 20:09
  Speaker 10: funding supplied earlier this year for safety improvements is insufficient
• 20:13
  Speaker 10: and they need more CCTV and guards outside places of
• 20:16
  Speaker 10: worship or schools. Is your government prepared?
• 20:19
  Speaker 6: Well, who is saying that Jewish community leader? Well, I
• 20:23
  Speaker 6: spoke with Jewish community leaders on Saturday, ask for more.
• 20:27
  Speaker 6: I spoke with Jewish community leaders on Saturday. Every time
• 20:30
  Speaker 6: there has been a request, it has been met.
• 20:33
  Speaker 2: In the face of a national crisis on antisemitism, the
• 20:35
  Speaker 2: Prime Minister is basically asking, well, which Jewish leaders want
• 20:38
  Speaker 2: to help keep the community safe. He went on to
• 20:41
  Speaker 2: say that we have an envoy, so that's certainly enough
• 20:44
  Speaker 2: when it comes to this anti semitism crisis.
• 20:47
  Speaker 4: How insulting is that to the community.
• 20:50
  Speaker 9: Well, clearly, you know that journalist hit a raw nerve
• 20:54
  Speaker 9: with the Prime Minister because he knows that the issue
• 20:57
  Speaker 9: of antisemitism, the issue of of the attacks on Jewish
• 21:02
  Speaker 9: Australians in our community, the likes of which we saw
• 21:05
  Speaker 9: repeated again on Friday night in Victoria, are hitting a
• 21:08
  Speaker 9: raw nerve.
• 21:10
  Speaker 11: Most Australians abhor this.
• 21:12
  Speaker 9: They believe that we are better than this as a country,
• 21:17
  Speaker 9: and we are finding ourselves in this awful situation where
• 21:21
  Speaker 9: hate is being leveled at Jewish Australians. And we're in
• 21:27
  Speaker 9: this situation because as Prime Minister he failed to act
• 21:32
  Speaker 9: with any degree of leadership. Really from about the ninth
• 21:37
  Speaker 9: of October twenty twenty three, which is when we saw
• 21:40
  Speaker 9: those horrible scenes of people on the Sydney Opera house steps,
• 21:48
  Speaker 9: and ever since the Prime Minister has been dragged kicking
• 21:52
  Speaker 9: and screaming on issues of anti Semitism. You know, he
• 21:56
  Speaker 9: couldn't mention the very thought of antisemit without comparing it
• 22:01
  Speaker 9: to other forms of racism. There is no moral equivalence
• 22:05
  Speaker 9: here in this argument. No Jewish Australians are being attacked
• 22:09
  Speaker 9: and it's got to stop, and he's got to step
• 22:12
  Speaker 9: up to the plate.
• 22:13
  Speaker 2: Oh look absolutely and less talk, more action. You know
• 22:17
  Speaker 2: that's the reality. Andrew Wallace, good to see you, as always,
• 22:20
  Speaker 2: really appreciate you joining me.
• 22:21
  Speaker 4: Thank you very much.
• 22:22
  Speaker 2: Well after the break, I'll be joined by former White
• 22:24
  Speaker 2: House Press Secretary Sean Spicer. As Australia holds its breadth
• 22:28
  Speaker 2: over the prospect of more US tariffs, plus the RBA
• 22:31
  Speaker 2: hands down its decision.
• 22:32
  Speaker 4: On an interest rate cut.
• 22:33
  Speaker 2: I'll get expert analysis next, don't go away, welcome back.
• 22:39
  Speaker 4: Well.
• 22:39
  Speaker 2: As I said earlier, Donald Trump has sent letters to
• 22:42
  Speaker 2: heads of several countries informing.
• 22:44
  Speaker 4: Them of their new tariff right.
• 22:46
  Speaker 2: America's key allies, Japan and South Korea have been slapped
• 22:49
  Speaker 2: with twenty five percent levies, while the deadline has been
• 22:52
  Speaker 2: extended to August one. The Prime Minister says though he's
• 22:55
  Speaker 2: not concerned about the impact on Australian prices.
• 22:58
  Speaker 6: Teriff a penalty on the country that is imposing them,
• 23:03
  Speaker 6: because what they require is for goods to be purchased
• 23:09
  Speaker 6: that with a tax on top, and the US has
• 23:13
  Speaker 6: made that decision.
• 23:16
  Speaker 2: Joining me is former White House Press Secretary Sean Spicer, Sewan,
• 23:21
  Speaker 2: thank you so much for joining me. Why does Donald
• 23:23
  Speaker 2: Trump keep changing the goalposts on tariffs?
• 23:27
  Speaker 12: Simply put, because he can look.
• 23:30
  Speaker 4: He is embolden.
• 23:31
  Speaker 12: He is on fire the last few weeks, both in
• 23:34
  Speaker 12: terms of what he has accomplished internationally and then here
• 23:37
  Speaker 12: domestically in the United States, with the passage of what
• 23:39
  Speaker 12: they call the Big Beautiful Bill, this signature tax bill,
• 23:44
  Speaker 12: and Border bill that was just passed through, And so
• 23:47
  Speaker 12: I think he is now turning his attention to trade
• 23:50
  Speaker 12: and this issue.
• 23:52
  Speaker 11: Look, as you guys know.
• 23:53
  Speaker 12: Has been a top of mind for him for decades,
• 23:57
  Speaker 12: the imbalance and in fairness, in the lack of faareness
• 24:00
  Speaker 12: that exists between many of our trading partners in the
• 24:03
  Speaker 12: United States in terms of both tariff and non tariff barriers.
• 24:07
  Speaker 4: But most Americans can.
• 24:08
  Speaker 12: Wrap their heads around the tariff imbounds really easy. It's
• 24:11
  Speaker 12: almost terriff free to come into the US market, and
• 24:14
  Speaker 12: then we're getting charged fifteen to twenty thirty forty percent
• 24:18
  Speaker 12: tariff you know, in the case of India upwards of
• 24:20
  Speaker 12: one hundred. So for Donald Trump, it makes sense, and
• 24:23
  Speaker 12: I think that he feels emboldened and so he wants
• 24:26
  Speaker 12: to make sure that he shows the American people.
• 24:28
  Speaker 11: That he's fighting for them.
• 24:31
  Speaker 12: And look, my guess is that you know, many of
• 24:34
  Speaker 12: these countries are going to fold real quick because they
• 24:37
  Speaker 12: recognize the importance of access to the US market.
• 24:40
  Speaker 2: Yeah, and it will be really interesting as well to
• 24:42
  Speaker 2: say if there's any impact on Australia moving forward with
• 24:45
  Speaker 2: these additional changes.
• 24:47
  Speaker 12: You didn't make the naughty list, right, off the bat.
• 24:49
  Speaker 12: So that's a good sign.
• 24:50
  Speaker 2: Well, look, thank goodness for that. We didn't make the
• 24:52
  Speaker 2: naughty least. But I guess anything is possible at this point.
• 24:55
  Speaker 2: As you said, donald Trump does it because he can,
• 24:58
  Speaker 2: so I guess it's a case of white see what
• 25:00
  Speaker 2: happens now. Look, Sean, I've got to talk to you
• 25:02
  Speaker 2: about this bromance which is well and truly over between
• 25:06
  Speaker 2: Elon Musk and Donald Trump. In fact, Trump has now
• 25:08
  Speaker 2: said that Musk has gone off the rails and has
• 25:11
  Speaker 2: become a train wreck after the tech billionaire announced plans,
• 25:14
  Speaker 2: of course, to form a new party. He's taken to
• 25:17
  Speaker 2: truth social he said, quote he even wants to start
• 25:20
  Speaker 2: a third political party despite the fact that they have
• 25:23
  Speaker 2: never succeeded in the US. The system seems not designed
• 25:26
  Speaker 2: for them. And Sean, look, I can't help but wonder, though,
• 25:29
  Speaker 2: I've got to say, is Musk actually serious about this?
• 25:32
  Speaker 2: And how hard would it be to get a party
• 25:35
  Speaker 2: off the ground.
• 25:36
  Speaker 12: Look, it's nearly impossible, and Donald Trump's right, they just
• 25:40
  Speaker 12: don't take off. It's for a myriad of reasons. I
• 25:43
  Speaker 12: spent three cycles six years at the Republican National Committee,
• 25:47
  Speaker 12: the political parties in this country really put a stranglehold
• 25:51
  Speaker 12: on independent candidates and third parties getting valid access for example.
• 25:55
  Speaker 12: So how do you actually get on those key ballots.
• 25:58
  Speaker 12: It's very difficult in the lot of seats. Elon must
• 26:00
  Speaker 12: may be brilliant a business and I give him a
• 26:02
  Speaker 12: lot of credit for what he has accomplished as a businessman,
• 26:06
  Speaker 12: and frankly for what he accomplished in his effort with
• 26:08
  Speaker 12: what they call doge here in the United States rooting
• 26:11
  Speaker 12: out waste and fraud and inefficiencies in our government. But
• 26:14
  Speaker 12: when it comes to politics, I think he's out of
• 26:16
  Speaker 12: his league here.
• 26:17
  Speaker 2: Yeah, that's certainly a good point. Now, look, I found
• 26:19
  Speaker 2: this next topic very interesting. Elked memo has revealed former
• 26:23
  Speaker 2: President Joe Biden's advisors convinced him to hold an early
• 26:27
  Speaker 2: summer debate with Donald Trump last year, insisting it would
• 26:30
  Speaker 2: allow him to reach the widest audience possible. It says,
• 26:34
  Speaker 2: quote in addition, the earlier you are able to debate,
• 26:37
  Speaker 2: the better, so that the American people can see you
• 26:41
  Speaker 2: standing next to Trump and showing the strength of your
• 26:44
  Speaker 2: leadership compared to Trump's weakness and chaos. Jay Shan I
• 26:48
  Speaker 2: couldn't help but notice there that these bizarre capital and
• 26:51
  Speaker 2: bold references to the president. What do you make of
• 26:54
  Speaker 2: the strategy to get up and in front of.
• 26:56
  Speaker 4: The audiences as early as possible.
• 26:58
  Speaker 12: There's a few things that I that jumped out at me.
• 27:00
  Speaker 12: Number one, I feel like the only thing that was
• 27:02
  Speaker 12: missing is like pictures like it looked like it was.
• 27:05
  Speaker 11: Written for a twelve year old.
• 27:07
  Speaker 12: You should do this because you're the best. You're so great,
• 27:11
  Speaker 12: you should come out on top on this. It's rather embarrassing,
• 27:15
  Speaker 12: and it lends credence to this argument that he really
• 27:17
  Speaker 12: wasn't in charge and the aides were running the White House.
• 27:21
  Speaker 12: I have a feeling if you dove deep into the
• 27:24
  Speaker 12: origin to this, the only one that would be smart
• 27:26
  Speaker 12: enough to put their name on it would be Kamala
• 27:27
  Speaker 12: Harris because the idea that somehow he would do well
• 27:31
  Speaker 12: at at nine o'clock debate early on in the cycle
• 27:34
  Speaker 12: is nuts. Nobody with a brain thought that that was
• 27:37
  Speaker 12: a good idea. It was literally a political suicide mission.
• 27:41
  Speaker 12: And that's why I think that, you know, it's got
• 27:42
  Speaker 12: to be the Kamala people that wrote it, because no
• 27:44
  Speaker 12: one who actually likes Joe Biden, who supported him, would
• 27:48
  Speaker 12: think that this was a good idea.
• 27:50
  Speaker 2: Yeah, and clearly the aides were running him for far
• 27:53
  Speaker 2: too long as we know now. Look, Democratic lawmakers say
• 27:56
  Speaker 2: their votes, their voters are enraged at the lack of
• 27:59
  Speaker 2: a to counter Donald Trump's agenda, some even saying that
• 28:03
  Speaker 2: that could resort to violence. Axios has spoken to over
• 28:06
  Speaker 2: two dozen House Democrats to measure the temperature of the
• 28:09
  Speaker 2: base and it found that there was red hot anger
• 28:12
  Speaker 2: and a burgeoning desire to circumvent.
• 28:14
  Speaker 4: The rule of law.
• 28:15
  Speaker 2: Jayshawn, what did it happened to the so called tolerant left.
• 28:18
  Speaker 4: I mean, look at who they quoted in there.
• 28:20
  Speaker 12: Now, most of the lawmakers are nameless and anonymous. But
• 28:25
  Speaker 12: this isn't some party grassroots leader in some.
• 28:29
  Speaker 4: Random county in America.
• 28:31
  Speaker 12: These are elected officials saying that it's going to take
• 28:33
  Speaker 12: us getting shot and shedding blood because that's what's going
• 28:37
  Speaker 12: to get attention. It's sad because if you are an
• 28:40
  Speaker 12: elected official and you are actually using that as a strategy,
• 28:44
  Speaker 12: that violence or bodily injury are tactics that make sense.
• 28:50
  Speaker 12: Think about where you are as a party, what you
• 28:53
  Speaker 12: think is acceptable in this country. I mean, there are
• 28:55
  Speaker 12: so many levels of wrong in that whole statement and
• 28:58
  Speaker 12: that story, because this seems to me that aside from
• 29:02
  Speaker 12: just random political rhetoric, this is scary.
• 29:05
  Speaker 11: We continue to see elevated political violence in this country.
• 29:09
  Speaker 12: When I was in the White House, the former whip
• 29:11
  Speaker 12: in the House of Representative Steve Scalice and other members
• 29:14
  Speaker 12: of the Republican Conference were.
• 29:16
  Speaker 11: Shot, some almost died.
• 29:19
  Speaker 12: Then you saw Donald Trump be you know, two assassination
• 29:22
  Speaker 12: attempts on him. These lawmakers out in Minnesota just recently
• 29:27
  Speaker 12: who were targeted. There is a problem here in this
• 29:30
  Speaker 12: country with violence, and the left not only won't talk
• 29:33
  Speaker 12: about it denounce it, but it's almost like this is
• 29:36
  Speaker 12: part of their strategy.
• 29:37
  Speaker 11: And it's sad and frankly demented.
• 29:39
  Speaker 2: Yes, of course, but the left will keep telling you
• 29:41
  Speaker 2: that they are so tolerant and so accepting, as we
• 29:44
  Speaker 2: know that that's their mantra. Sean Spicer, it's always good
• 29:47
  Speaker 2: to chat with you. Thanks so much for joining me
• 29:48
  Speaker 2: on the show.
• 29:50
  Speaker 1: As always, thank you.
• 29:51
  Speaker 2: Let's return now to that RBA decision to keep rights
• 29:54
  Speaker 2: on hold at three point eight five percent. Joining me
• 29:56
  Speaker 2: now is imp Chief economist shan Alibah sh thank you
• 30:00
  Speaker 2: for joining me. Were you surprised by the board's decision. Okay,
• 30:11
  Speaker 2: we'll try and get Shane Oliver back as soon as
• 30:13
  Speaker 2: we can. Obviously, a big day with the RBA rates
• 30:16
  Speaker 2: on hold for a second day in a row would
• 30:19
  Speaker 2: be good to get here on how he feels about it,
• 30:21
  Speaker 2: particularly given that the RBA hesitated to cut rates. Says
• 30:24
  Speaker 2: a lot really about the economy. In fact, we do
• 30:27
  Speaker 2: have a Shane back now, Shae, we've got your mic
• 30:30
  Speaker 2: up now.
• 30:30
  Speaker 4: I just want to ask you, first off the bat,
• 30:32
  Speaker 4: what was your reaction to today's news.
• 30:35
  Speaker 13: Well, I guess I was surprised, As I said, I
• 30:39
  Speaker 13: wasn't shocked. You know, the RBA sometimes goes against the consensus,
• 30:43
  Speaker 13: and fair enough, I tend to think it was probably
• 30:46
  Speaker 13: a mistake. But you can argue that well, you know,
• 30:49
  Speaker 13: if they cut this month or they wait five weeks
• 30:53
  Speaker 13: till next month, the next meeting is probably not going
• 30:55
  Speaker 13: to be a disaster for the economy.
• 30:57
  Speaker 11: But obviously the.
• 30:58
  Speaker 13: Reserve Bank is still thing thinking, well, unemployment is still low. Yes,
• 31:03
  Speaker 13: inflation's coming down, but we can wait for more evidence
• 31:06
  Speaker 13: on that front before we move again. So fair enough.
• 31:10
  Speaker 13: Obviously they had a fairly a solid debate. Three members
• 31:13
  Speaker 13: voting looks like for.
• 31:14
  Speaker 11: A cut six for staying on hold.
• 31:16
  Speaker 13: So it looks like the broad direction I think is
• 31:18
  Speaker 13: still down and they probably will cut again come the
• 31:22
  Speaker 13: August meeting, but for now they've just decided to sit
• 31:24
  Speaker 13: tight for a bit longer.
• 31:26
  Speaker 2: What was interesting because Michelle Bullock said that she's waiting
• 31:28
  Speaker 2: on economic data.
• 31:29
  Speaker 4: She needs more economic.
• 31:31
  Speaker 2: Data first before she can make a decision. What does
• 31:34
  Speaker 2: the RBA's hesitation to cut rates today say about how
• 31:39
  Speaker 2: the economy is going, particularly when it comes to tackling inflation.
• 31:44
  Speaker 11: Well, obviously they've got a view.
• 31:47
  Speaker 13: I think that they're feeling fairly cautious about the outlook,
• 31:50
  Speaker 13: but not so cautious that they feel the need to
• 31:54
  Speaker 13: cut interest rates back to back meetings. We did see
• 31:57
  Speaker 13: something like that at the time of the pandemic. We
• 32:00
  Speaker 13: did see rate hikes when they worried about inflation back
• 32:03
  Speaker 13: in twenty twenty two at consecutive meetings. But right now
• 32:07
  Speaker 13: they're obviously not concerned.
• 32:08
  Speaker 11: Enough to do that.
• 32:10
  Speaker 13: So I think they sort of think, well, the economy
• 32:14
  Speaker 13: is still okay, it's not fantastic. It could probably do
• 32:17
  Speaker 13: with some rate cuts, but by the same token, there's
• 32:20
  Speaker 13: no rush to do that.
• 32:21
  Speaker 11: So that's the way I think they're seeing it.
• 32:23
  Speaker 13: Obviously, there is a big change between the tone from
• 32:26
  Speaker 13: the governor's press conference at this meeting and say six
• 32:30
  Speaker 13: weeks ago, back in May, and it seemed that back
• 32:33
  Speaker 13: then they were a lot more dubbish. I think that's
• 32:35
  Speaker 13: why many economists and the money markets sort of came
• 32:38
  Speaker 13: round to the view they'll cut again, particularly after we've
• 32:41
  Speaker 13: got those weak inflation and GDP numbers. But obviously they've
• 32:45
  Speaker 13: had a tone ship back the other way and they're thinking, well, yeah,
• 32:48
  Speaker 13: maybe we should be cutting, but there's a case to
• 32:51
  Speaker 13: wait a little bit longer.
• 32:52
  Speaker 2: Productivity was a big one that came out of today
• 32:55
  Speaker 2: and it's certainly a worry. It's a concern the rate
• 32:59
  Speaker 2: of productivity in this country. How much of this comes
• 33:02
  Speaker 2: down to Labour's policy or lack there of in the
• 33:05
  Speaker 2: last three years.
• 33:08
  Speaker 11: Well, it's the lack thereof.
• 33:10
  Speaker 13: I mean, labor has done some things on the productivity front,
• 33:13
  Speaker 13: but not a lot. I mean, we have big issues
• 33:15
  Speaker 13: with our tax system, which is too reliant on income tax.
• 33:19
  Speaker 13: The marginal tax rates prohibited, particularly when you get to
• 33:23
  Speaker 13: the higher levels. We need to rely more on indirect tax.
• 33:26
  Speaker 13: The GST within the tax systems all sorts of complications.
• 33:31
  Speaker 11: We have silly state taxes like stamp beauty, but not
• 33:34
  Speaker 11: only that.
• 33:35
  Speaker 13: You know, we've got an overly regulated labor market, overly
• 33:39
  Speaker 13: regulated product markets, so we really need to do a
• 33:42
  Speaker 13: lot of work here. The other problem I think that's
• 33:44
  Speaker 13: been happening is this gradual creep higher and government spending
• 33:49
  Speaker 13: year after year that's come in stronger than expected. That
• 33:52
  Speaker 13: means the private sector doesn't have the resources that it
• 33:55
  Speaker 13: would otherwise have, particularly in terms of labor, and that
• 33:59
  Speaker 13: of course has slowed down the private sector, and of
• 34:02
  Speaker 13: course adversal effects productivity because private sector productivity is traditionally stronger.
• 34:07
  Speaker 11: Than in the public sector.
• 34:08
  Speaker 13: So all of these things are weighing here, and to
• 34:11
  Speaker 13: be honest with you, I think they have made the
• 34:12
  Speaker 13: Reserve Bank's job a bit harder than it otherwise should
• 34:16
  Speaker 13: have been, because the public sector growth that we have
• 34:19
  Speaker 13: been seeing has just sort of kept parts of the
• 34:23
  Speaker 13: economy going, kept the labor market perhaps a little bit
• 34:26
  Speaker 13: tighter than would otherwise have been the case. Not for that,
• 34:29
  Speaker 13: the Reserve Bank I think could have cut interest rates
• 34:32
  Speaker 13: earlier through last year and faster. So it has come
• 34:36
  Speaker 13: at a cost particularly for those people with a mortgage.
• 34:38
  Speaker 13: I mean the price for very strong government spending has
• 34:43
  Speaker 13: been higher than otherwise interest rates.
• 34:46
  Speaker 2: Yeah, fascinating decision today, hesitation in that the RBA seem
• 34:49
  Speaker 2: to have the green light to go ahead and cut
• 34:51
  Speaker 2: but not today, Shane Oliver, good to see you. Thank
• 34:54
  Speaker 2: you not today, Thanks so much for joining me for
• 34:56
  Speaker 2: coming up after the break. The green dream goes bust
• 34:59
  Speaker 2: again as Labour's climate target slips further out of reach
• 35:03
  Speaker 2: and is a solution to the anti Semitism crisis banning protests.
• 35:06
  Speaker 2: I'll ask my panel next welcome back joining me now
• 35:12
  Speaker 2: is the panel. Will Kingston, host of Fire at Will,
• 35:14
  Speaker 2: the podcast from the Spectator on politics and culture, and
• 35:18
  Speaker 2: Sky News contributor Joe Hildebrand.
• 35:20
  Speaker 4: We had to both of you good time.
• 35:24
  Speaker 2: That's what we want to hear. We want you to
• 35:25
  Speaker 2: be fired up. Joe hilder Brand. Now, look, let's start.
• 35:28
  Speaker 2: I spoke about this earlier, but I wanted to get
• 35:30
  Speaker 2: both of your thoughts on this. The New South Wales
• 35:32
  Speaker 2: liberals are considering a US style primaries plan that would
• 35:35
  Speaker 2: see candidates in battleground seats selected by the general public.
• 35:39
  Speaker 4: Will is this the solution to the Liberals problems.
• 35:44
  Speaker 14: No is the short answer. I can see arguments on
• 35:48
  Speaker 14: either side, but I actually think what's more revealing here
• 35:51
  Speaker 14: is the way that different people within the Liberal Party
• 35:53
  Speaker 14: have tried to sell this. So you have people like
• 35:55
  Speaker 14: Angus Taylor who have said this is a way to
• 35:57
  Speaker 14: re engage the grassroots.
• 35:59
  Speaker 11: Tip find good.
• 36:01
  Speaker 14: You also have people like Susan Lay, like Angus Lisa
• 36:04
  Speaker 14: who have said, well, this is a vehicle for us
• 36:06
  Speaker 14: to champion diversity in the party. This is a way
• 36:08
  Speaker 14: to show that we are more open and welcoming and
• 36:10
  Speaker 14: broad and tolerant. This is a way to get more
• 36:13
  Speaker 14: women into the party. And this makes you wonder why
• 36:17
  Speaker 14: does the labor right wing of the Liberal Party, which
• 36:21
  Speaker 14: is what I would consider those people to be, so
• 36:24
  Speaker 14: intent on caving into the leftist identity politics narrative which
• 36:29
  Speaker 14: has killed the Liberal Party over the last decade. I
• 36:32
  Speaker 14: just can't fathom it. I don't have a problem with
• 36:35
  Speaker 14: engaging people via a primary system, but I think the
• 36:37
  Speaker 14: more important point here is that you have a leader
• 36:39
  Speaker 14: of the Liberal Party that cares more about identity politics
• 36:42
  Speaker 14: than traditional liberal values, and the great irony being that
• 36:45
  Speaker 14: if you were to primary liberal leadership at a national level,
• 36:48
  Speaker 14: there's no way that Susan lay would come within coue
• 36:51
  Speaker 14: of winning that primary because she does not represent what
• 36:54
  Speaker 14: the Liberal Party at least used to stand for.
• 36:56
  Speaker 2: Well, I just also think that the Liberal Party doesn't
• 36:58
  Speaker 2: know what it is, who it is or who it stands.
• 37:00
  Speaker 15: For at the moments in the party room, so they're
• 37:06
  Speaker 15: just going to outsource it to the general community.
• 37:09
  Speaker 4: It is.
• 37:09
  Speaker 1: It is a terrible idea.
• 37:10
  Speaker 15: First, I just I have to great will for UP.
• 37:13
  Speaker 15: I have to defend the labor right and the terrible
• 37:15
  Speaker 15: confametry comment that he made that the New South Wales
• 37:19
  Speaker 15: wets were that they're actually that's actually the labor left
• 37:22
  Speaker 15: of the Liberal Party will.
• 37:24
  Speaker 14: The labor the labor right is far more affecting.
• 37:27
  Speaker 15: The labor right in any ways, actually is actually more
• 37:30
  Speaker 15: conservative than a lot of those people on left anyway.
• 37:36
  Speaker 1: So the Labor Party actually did this right.
• 37:38
  Speaker 15: So we did this after it was sort of like
• 37:40
  Speaker 15: a poison pill that Kevin Rudd made Sam Bastiari implement
• 37:44
  Speaker 15: on a condition of him coming back to the Prime ministership,
• 37:47
  Speaker 15: and it was sort of almost done with a gun
• 37:48
  Speaker 15: to the party's head, but it wasn't didn't go all
• 37:51
  Speaker 15: the way. But basically fifty percent of the leadership vote
• 37:55
  Speaker 15: is determined by a rank and file ballot, and the
• 37:57
  Speaker 15: remainder of the fifty percent waiting is the part room.
• 38:00
  Speaker 15: The result of this has been a leadership process, an
• 38:03
  Speaker 15: election process that is far less democratic than it used
• 38:07
  Speaker 15: to be, because now no one will even allow a
• 38:09
  Speaker 15: leadership contest because it's too risky to have rank and
• 38:14
  Speaker 15: file be able to blow it up. Because the rank
• 38:16
  Speaker 15: and file of the party, the membership of a.
• 38:18
  Speaker 11: Party, will always vote for someone who.
• 38:22
  Speaker 15: Is closer to the left in case of the Labor Party,
• 38:24
  Speaker 15: or the right in the case of the Liberal Party.
• 38:26
  Speaker 15: As Will said, Susan wouldn't even get a look in,
• 38:28
  Speaker 15: and so you actually end up electing the leader least
• 38:31
  Speaker 15: qualified to take the party to an election victory determined,
• 38:37
  Speaker 15: especially in Australia, by people in the middle of polt.
• 38:40
  Speaker 2: What would be a disaster, I be there's a baffling,
• 38:43
  Speaker 2: a real true baffling idea.
• 38:44
  Speaker 15: Honestly, would elect Peter and over and over?
• 38:47
  Speaker 9: Not?
• 38:47
  Speaker 2: Well, I've looked exactly, Look, let's move on. Labour's green
• 38:50
  Speaker 2: dream continues to implode at the seams. Renewable power generation
• 38:55
  Speaker 2: grew at only half the rate required to meet Labour's
• 38:57
  Speaker 2: climate goals. That's according to new analysis. In fact, LABEL
• 39:00
  Speaker 2: will need to triple the rate of decline in coal
• 39:02
  Speaker 2: power generation to have any chance of meeting its twenty
• 39:05
  Speaker 2: thirty target. Well, how many more warnings, seriously does there
• 39:11
  Speaker 2: need to be to tell you that the renewables only
• 39:14
  Speaker 2: fantasy is failing.
• 39:17
  Speaker 14: Who could have possibly seen this coming, Daneka, Despite the
• 39:21
  Speaker 14: fact that renewables have been around for decades now, despite
• 39:25
  Speaker 14: the fact that they had every possible form of assistance,
• 39:27
  Speaker 14: from subsidies to banning fossil fuels on the other end
• 39:31
  Speaker 14: to eliminate the competition, you still realize that there is
• 39:35
  Speaker 14: no adequate substitute, at least in the short to medium term,
• 39:38
  Speaker 14: when it comes to affordability, reliability, scalability, versatility of energy
• 39:43
  Speaker 14: than fossil fuels. And the problem is, though, that we
• 39:46
  Speaker 14: are now so stuck in this symbolic net zero virtue signaling.
• 39:50
  Speaker 14: And make no mistake, it is symbolic because it won't
• 39:52
  Speaker 14: impact the climate, that they're going to double down, And
• 39:55
  Speaker 14: as we get closer and closer to that date, I
• 39:57
  Speaker 14: don't think they're going to pull back on it. And
• 39:59
  Speaker 14: get to some point of sanity. I think they're going
• 40:01
  Speaker 14: to become more coercive with their energy policies policy and
• 40:04
  Speaker 14: the only thing that means is it means higher energy
• 40:06
  Speaker 14: prices for Australian consumers.
• 40:07
  Speaker 2: Yeah, and I mean our bills already going up. So
• 40:10
  Speaker 2: you know it's a disaster now. Can you imagine it
• 40:12
  Speaker 2: into the future now, I want to talk about anti Semitism.
• 40:15
  Speaker 2: Of course, four attacks on the Jewish community in Melbourne
• 40:17
  Speaker 2: at the weekend, but there are now calls to ban
• 40:19
  Speaker 2: anti Israel protests. Former Prime Minister Tony Abbott is leading
• 40:23
  Speaker 2: the charge.
• 40:23
  Speaker 4: Here he was with Peter Kredlin tonight.
• 40:26
  Speaker 16: All we've had up till now is largely impotent hand
• 40:31
  Speaker 16: ringing from people in authority. I wouldn't so much have
• 40:35
  Speaker 16: a fifteen point plan, I'd have a one point plan
• 40:38
  Speaker 16: to stop this. Just as the police cracked down hard
• 40:44
  Speaker 16: on the freedom protests during the pandemic, there's nothing to
• 40:48
  Speaker 16: stop them cracking down hard on these pro Hamas due
• 40:53
  Speaker 16: hatred protests. They've been going on for far too long.
• 40:58
  Speaker 16: This is not a question of freedom of speech and
• 41:00
  Speaker 16: the right to protest. This is blatant intimidation of decent
• 41:06
  Speaker 16: law abiding Australians.
• 41:08
  Speaker 4: Joe is banning protests the solution.
• 41:10
  Speaker 15: I understand where tonyab it's coming from, but no, it's not.
• 41:12
  Speaker 15: It is an infringement on free speech. And the only
• 41:14
  Speaker 15: way that Andrews was able to crack down on the
• 41:18
  Speaker 15: anti VAXX protesters or the anti lockdown protesters is because
• 41:22
  Speaker 15: Victoria was in Melbourne, was in a constant state of lockdown,
• 41:24
  Speaker 15: and so I could use the law to stop them
• 41:27
  Speaker 15: from gathering. And that again is also I think, and overreach.
• 41:31
  Speaker 15: So I don't like it when the left does it,
• 41:32
  Speaker 15: and I don't like it when the right does it.
• 41:34
  Speaker 4: Yeah, and will banning or.
• 41:35
  Speaker 14: Not, No, I agree with Joe. I have nothing but
• 41:39
  Speaker 14: admiration for Tony and he still has that rare ability
• 41:42
  Speaker 14: to cut through with communication in a way no other
• 41:44
  Speaker 14: politician can. But at the same time I have a
• 41:47
  Speaker 14: real problem with how so much of the modern liberal
• 41:50
  Speaker 14: party is moving away from free speech. The response to
• 41:53
  Speaker 14: this stuff is more and better speech and calling out
• 41:56
  Speaker 14: the elephant in the room, which are many of the
• 41:58
  Speaker 14: fundamental problems with some of these communities in Australia, and
• 42:01
  Speaker 14: too many of the politicians on the right are scared
• 42:04
  Speaker 14: to have that conversation. So why don't we start there
• 42:06
  Speaker 14: before we start banning speech?
• 42:07
  Speaker 15: True?
• 42:08
  Speaker 4: Fair, fair call.
• 42:08
  Speaker 2: Now, before I let you both go, I've got to
• 42:10
  Speaker 2: ask you about an emerging trend with young gen Z men.
• 42:14
  Speaker 2: They're ditching alcohol and instead embracing a sober, healthy lifestyle
• 42:18
  Speaker 2: and your recess. Research by Dry July has found one
• 42:21
  Speaker 2: in five eighteen to twenty four year olds went longer
• 42:23
  Speaker 2: than six months without alcohol in twenty twenty four. Joe,
• 42:27
  Speaker 2: they're saying that it's a desire to save money to
• 42:29
  Speaker 2: be healthy. Now, point out you tour a bit over
• 42:32
  Speaker 2: the gen Z rape.
• 42:34
  Speaker 11: But please, they are definitely do.
• 42:36
  Speaker 15: Not fit into this case.
• 42:38
  Speaker 1: Do not speak for me.
• 42:39
  Speaker 15: I worry for the young. I'm worried about the young.
• 42:42
  Speaker 15: I don't know how they get together anymore. I don't
• 42:44
  Speaker 15: know how they're going to reproduced. They're consumed by anxiety.
• 42:49
  Speaker 15: Well you wonder why because they're not getting out on
• 42:51
  Speaker 15: the tiles and trying.
• 42:52
  Speaker 4: To healthy men. Joe, healthy health.
• 42:54
  Speaker 15: Apparently, will I have to drill to make up for myself?
• 42:58
  Speaker 4: Well, apparently tradees a leading the trend on this. What
• 43:01
  Speaker 4: do you think?
• 43:03
  Speaker 14: Yeah, I call BS on that. But Joe, you wonder
• 43:05
  Speaker 14: how gen Zeta going to reproduce. The answer is they're
• 43:08
  Speaker 14: not reproducing and gen Zetta having less sex than previous generations.
• 43:15
  Speaker 14: So I think this is a real problem. I've got
• 43:17
  Speaker 14: I've got that image of the old vb ad in
• 43:19
  Speaker 14: my mind of the trade getting off the work site.
• 43:21
  Speaker 14: And you know, you can have it working, you can
• 43:23
  Speaker 14: have it smoking, you can have it any old time.
• 43:25
  Speaker 14: I missed out Australia all right too.
• 43:28
  Speaker 2: I mean, God, God help these men who just want
• 43:30
  Speaker 2: it hard for themselves, who just want a healthier lifestyle.
• 43:33
  Speaker 2: But okay, Will Kingston, Joe Hilda Ran, good to have
• 43:36
  Speaker 2: you both faiths. Thank you well after the break, a
• 43:39
  Speaker 2: historic meeting in the White House today between Donald Trump
• 43:41
  Speaker 2: and Benjamin Netna, who, as the US President is nominated
• 43:44
  Speaker 2: for the Nobel Peace Prize. Former Israeli government spokesperson Elon
• 43:47
  Speaker 2: Levy joins me next.
• 43:52
  Speaker 4: Welcome back.
• 43:52
  Speaker 2: Well, there's been a historic meeting in the White House
• 43:54
  Speaker 2: today between Donald Trump and Israeli Prime Minister Benjamin Netyahoo,
• 43:58
  Speaker 2: in which the Israeli nominated the US President for the
• 44:01
  Speaker 2: Nobel Peace Prize for helping in the fight against Iran.
• 44:05
  Speaker 4: Joining me now is former Israeli.
• 44:06
  Speaker 2: Government spokesperson Elon Levy, Elon, it is always great to
• 44:09
  Speaker 2: catch up with you.
• 44:10
  Speaker 4: How significant is this gesture by Israel.
• 44:14
  Speaker 17: Well, I think President Trump deserves a Nobel Prize for
• 44:17
  Speaker 17: bringing peace between Israel, the UAE, Morocco, and Bahrain in
• 44:21
  Speaker 17: his first term. And he's certainly done more for nuclear
• 44:24
  Speaker 17: disarmament now than anyone else, certainly President Obama, who won
• 44:28
  Speaker 17: a Nobel Prize for the same reason by making that
• 44:31
  Speaker 17: historic decision to knock out the Iranian nuclear facilities. But
• 44:34
  Speaker 17: you know, President Trump's big test still lies ahead because
• 44:38
  Speaker 17: he wants to be a big peacemaker in the Middle East.
• 44:40
  Speaker 17: He wants to remake the region. He doesn't want to
• 44:42
  Speaker 17: go back to October sixth, to the world that existed
• 44:45
  Speaker 17: before Hamas's attack. He wants to bring more normalization agreements.
• 44:49
  Speaker 17: There's talk of maybe peace with Syria, with Lebanon, with
• 44:53
  Speaker 17: Saudi Arabia, and if President Trump can pull that off,
• 44:56
  Speaker 17: then he definitely should be the front runner for a
• 44:58
  Speaker 17: Nobel Peace Prize.
• 45:00
  Speaker 4: It's a really fair point.
• 45:01
  Speaker 2: I've got to ask you, how do you think that
• 45:02
  Speaker 2: this will be deliberately miscon construed by the left, that
• 45:07
  Speaker 2: the pro Palestinian Left in particular.
• 45:11
  Speaker 17: Oh, we're already seeing how they're trying to spin it,
• 45:13
  Speaker 17: pointing out the fact that President the Prime Minister Netanyahu
• 45:17
  Speaker 17: has an arrest warrant on him from the ICC, whose judges,
• 45:21
  Speaker 17: by the way, are also sanctioned by the United States,
• 45:23
  Speaker 17: of saying Netania, who can't actually go to Warslow, although
• 45:25
  Speaker 17: the judges of the ICC can't go to Washington either,
• 45:29
  Speaker 17: Talking about the fact that Netanyahu is a partner in
• 45:31
  Speaker 17: Trump's attacks on Iran, but I think that only strengthens
• 45:34
  Speaker 17: the case for President Trump getting that Nobel pride. Yes,
• 45:38
  Speaker 17: Israel and the United States work together to dismantle the
• 45:41
  Speaker 17: Iranian nuclear program.
• 45:43
  Speaker 11: The world is safer now than.
• 45:45
  Speaker 17: It was a month ago, because a month ago, Iran
• 45:47
  Speaker 17: was a newcare threshold state and it's no longer a
• 45:49
  Speaker 17: nuclear threshold state.
• 45:50
  Speaker 11: And I think a lot of people are very.
• 45:52
  Speaker 17: Bitter that Israel proved a lot of people wrong and
• 45:55
  Speaker 17: together with the United States, took that decisive action to
• 45:58
  Speaker 17: stop the world's was dangerous rage from getting the world's
• 46:01
  Speaker 17: most dangerous weapons.
• 46:02
  Speaker 2: Absolutely, I completely agree, and you mentioned just before as well.
• 46:07
  Speaker 2: You know, this is a very important meeting they're going
• 46:09
  Speaker 2: to be discussing the future of the region ceasefire talks
• 46:12
  Speaker 2: in particular, what do you think we can expect out
• 46:15
  Speaker 2: of that?
• 46:17
  Speaker 17: Well, Israel really stands at the crossroads right now. The
• 46:19
  Speaker 17: IDF has captured most of the girls are strip. Hamas
• 46:22
  Speaker 17: is a shadow of its former self. It's reduced to
• 46:25
  Speaker 17: a gorilla force, but it is still holding fifty hostages,
• 46:28
  Speaker 17: twenty of whom are still alive, and they are being
• 46:30
  Speaker 17: tortured and starved in the dungeons under Gaza.
• 46:33
  Speaker 11: And Israel has two choices now.
• 46:35
  Speaker 17: One is to go for a ceasefire with Hamas, strike
• 46:38
  Speaker 17: a deal that will get at least some of the
• 46:40
  Speaker 17: hostages back, and the other is to go all in
• 46:43
  Speaker 17: towards the full military conquest of the.
• 46:45
  Speaker 11: Girls a strip.
• 46:46
  Speaker 17: Right now, Israel has said yes to the Cuttery proposal
• 46:50
  Speaker 17: on the table for a ceasefire. It's a bad deal.
• 46:53
  Speaker 17: It lets Hamas keep half of the hostages pending more negotiations,
• 46:57
  Speaker 17: but it would get at least half.
• 46:58
  Speaker 11: Of them out.
• 47:00
  Speaker 17: The ball is now in Hamas's colt. Is it willing
• 47:02
  Speaker 17: to end the war that it's started? Because for that
• 47:05
  Speaker 17: war to end, it's not enough to just give the
• 47:08
  Speaker 17: hostages back. Hamas is also going to have to lay
• 47:10
  Speaker 17: down its arms to allow the whole region to move
• 47:13
  Speaker 17: forward and the people of Gaza to break through from
• 47:15
  Speaker 17: its gi Hatey regime.
• 47:16
  Speaker 2: Given you know you said, Hamas is a shell of
• 47:18
  Speaker 2: its former self, and there were even reports the other
• 47:20
  Speaker 2: day that it is pretty much totally lost control now
• 47:23
  Speaker 2: of the Gaza strip. Why is it so difficult still
• 47:26
  Speaker 2: to be able to get in there and get the hostages.
• 47:30
  Speaker 17: Because the hostages are being held in underground tunnels by
• 47:34
  Speaker 17: captors who have orders to execute them if any IDF
• 47:36
  Speaker 17: soldiers get close. That's why what Israel is trying to
• 47:39
  Speaker 17: do is to put military pressure on Hamas to get
• 47:42
  Speaker 17: better terms for a ransom to get the hostages up.
• 47:45
  Speaker 17: But it's going to be very difficult to rescue them
• 47:47
  Speaker 17: from tunnels thirty meters underground where they are chained and
• 47:50
  Speaker 17: someone is pointing a gun at their heads. As for
• 47:52
  Speaker 17: why it's difficult to defeat Hamas, because look how Hamas
• 47:56
  Speaker 17: is fighting. It directly embeds itself inside hospitals and schools
• 48:01
  Speaker 17: and even UN facilities, using civilians as human sacrifices. It
• 48:06
  Speaker 17: doesn't care how many people are killed. That's why we've
• 48:09
  Speaker 17: seen so much damage inside the Gaza strip because this
• 48:12
  Speaker 17: is a death cult and that's the reason we've seen
• 48:14
  Speaker 17: so much damage. And hopefully a deal that will get
• 48:16
  Speaker 17: at least some of the hostages out will give room
• 48:19
  Speaker 17: for diplomacy to go to Hamas and say it's game over.
• 48:23
  Speaker 17: You're never running Gaza again.
• 48:26
  Speaker 2: Absolutely, we all hope and pray for that outcome. Elon Levy,
• 48:29
  Speaker 2: thank you very much for joining me on the show
• 48:31
  Speaker 2: this evening.
• 48:32
  Speaker 4: That's it for me. Now it's time for Sharry Marks
• 48:34
  Speaker 4: and good night.