Transcript

Sharri | 28 August · Sharri

0:01
Speaker 1: Live on Sky News. This is Shari. Good on you Andrew,
0:08
Speaker 1: thank you for that good evening. Yes, t Price with
0:10
Speaker 1: you filling in for Shari. Shari will be back with
0:13
Speaker 1: you tomorrow night and I'll see you at six on
0:16
Speaker 1: Friday night. Now coming up on Shari tonight. Are we
0:20
Speaker 1: staring at the electoral nightmare of a minority labor government
0:24
Speaker 1: depended on the Greens and the Teals to govern? And
0:27
Speaker 1: if we are, wait for Green's leader Adam Vance's wish
0:30
Speaker 1: list that he put out today. I have more on
0:32
Speaker 1: that shortly. Also, how in the middle of an economic
0:36
Speaker 1: downturn and a housing crisis and a lack of jobs
0:39
Speaker 1: in the regions, could the federal government go and turn
0:42
Speaker 1: its back on a billion dollar gold mine in New
0:45
Speaker 1: South Wales Central West. We'll catch up with the Minerals
0:48
Speaker 1: Council on what that means for our sovereign risk in
0:52
Speaker 1: this country. Plus what did today's inflation numbers mean for
0:56
Speaker 1: interest rates and the wider economy? Lethan Onsalen unpicked that
1:00
Speaker 1: for us shortly, but first I can't help it. Green's
1:04
Speaker 1: leader and federal member for the Inner Suburbs of Melbourne
1:07
Speaker 1: today stood up and delivered a speech to the National
1:11
Speaker 1: Press Club that was highly delusional and an insult to
1:14
Speaker 1: every Australian. Adam Bant, in his self described egotistical guys
1:20
Speaker 1: of somehow being Australia's version of Robin Hood, has laid
1:25
Speaker 1: out of an attack on profitable, multi national Australian companies that
1:29
Speaker 1: he claims are ripping off ordinary Australians. He includes the
1:32
Speaker 1: big four banks, the Commonwealth Bank, our biggest company, aine Zed,
1:36
Speaker 1: the NAB and Westpac. He includes west Farmers, which of
1:40
Speaker 1: course runs the very popular Bunnings. He threw in Telstra, Woolworth's, Cole's,
1:46
Speaker 1: JB Hi Fi and even Ampol. Now Adam Bant wants
1:50
Speaker 1: to hit these companies and others. He calls it a
1:53
Speaker 1: plan to his words, hit the rich. He also promises
1:57
Speaker 1: to bring in a coal and mining tag, demonizes gas
2:01
Speaker 1: today and says this will raise five hundred and forty
2:05
Speaker 1: one billion dollars, a figure plucked out of nowhere, and
2:08
Speaker 1: that will be his price for supporting labor. In the
2:11
Speaker 1: event of a hung parliament, enough is enough.
2:17
Speaker 2: It's time to make the big corporations and billionaires pay
2:20
Speaker 2: their fair share of tax. This election, the Greens will
2:24
Speaker 2: propose a package of robin Hood reforms. The first component
2:30
Speaker 2: is targeted at big corporations who are making excessive profits
2:34
Speaker 2: beyond a normal return to shareholders. It will apply to
2:38
Speaker 2: companies with an annual turnover of over one hundred million
2:41
Speaker 2: dollars take taxing the excess profits that these companies make.
2:47
Speaker 2: This new big corporations tax would apply to both Australian
2:50
Speaker 2: corporations and multinational corporations operating in Australia. Over the next decade,
2:56
Speaker 2: this component of the tax is expected to raise to
3:00
Speaker 2: hundred ninety six billion dollars.
3:03
Speaker 1: What a joke this bloke is. Now, Let's state the
3:05
Speaker 1: bleeding obvious and then turn our attention to what the
3:07
Speaker 1: Greens under Adam Bant actually stand for robin Hood. Adam
3:11
Speaker 1: is about as likely to have anyone agree to any
3:14
Speaker 1: of this as he has living out his warp dream
3:18
Speaker 1: of being the Australian version of robin Hood. None of
3:21
Speaker 1: any of this, by the way, is new. I wrote
3:23
Speaker 1: a column back in July about this when he first
3:25
Speaker 1: outlined this craziness aimed at peeling off labor voters that
3:29
Speaker 1: lean heavily left in inner suburbs of the capital cities
3:33
Speaker 1: of Australia. Now, Bant's grasp of economics is about as
3:37
Speaker 1: sharp as someone wandering around Sherwood forest back in the
3:41
Speaker 1: fourteenth century. When you look at the corporations whose profits
3:45
Speaker 1: he describes as excessive, and who would attract this new
3:49
Speaker 1: forty percent tax that he calls a big corporations tax.
3:53
Speaker 1: Great imagination with the name by the Way, one thing
3:56
Speaker 1: stands out. Every Australian with a superannuation fund, earns dividends
4:01
Speaker 1: from all of those companies, especially the banks, So Adam
4:04
Speaker 1: Bant would be taking from the rich and also taking
4:07
Speaker 1: from the middle class, the working class and the working class. Paul,
4:11
Speaker 1: I'm not sure Ban with his taxpayer funded super actually
4:14
Speaker 1: understands superannuation and how it works.
4:19
Speaker 2: While people went backwards, the biggest five hundred corporations made
4:23
Speaker 2: ninety eight billion dollars in crisis profits off the back
4:26
Speaker 2: of the pandemic. Willworths, Handcock Prospecting and nab Alone Release
4:33
Speaker 2: reaped billions of dollars in crisis profits. Coles and Woolworths
4:38
Speaker 2: have both increased their profits too.
4:42
Speaker 1: Now incredibly, incredibly to me, the ABC representative at the
4:46
Speaker 1: Press Club lunch today, interestingly sponsored by the Way with
4:51
Speaker 1: a sign at the back of ban by Westpac, one
4:54
Speaker 1: of the bank's bant wants to hit. The ABC reporter
4:57
Speaker 1: made the point that if all these corporations, especially the
5:00
Speaker 1: mining companies, are to be hit with massive new profits taxes,
5:03
Speaker 1: they will simply up and move offshore.
5:08
Speaker 3: The Parliamentary Budget Office, who you engage to do your
5:11
Speaker 3: costings on the corporate tax issue, warns that the numbers
5:17
Speaker 3: you think you'll raise was basically a happy guess at best,
5:21
Speaker 3: because there's a lot of uncertainty around the assumptions. One
5:25
Speaker 3: of the reasons would be that global capital is incredibly mobile.
5:29
Speaker 3: Copper is available from Peru, lng is available from Russia
5:34
Speaker 3: and Qatar, and iron ore from Africa and Brazil. What
5:38
Speaker 3: makes you so certain you'll have a resource as industry
5:41
Speaker 3: to support the welfare spending you envisage.
5:45
Speaker 2: Well, our tax is designed to still encourage investment. We're
5:49
Speaker 2: talking about excessive profits that can still come here and
5:52
Speaker 2: make a return. We're talking about these obscene profits that
5:54
Speaker 2: they're making. Like what we're saying with the gas industry,
5:58
Speaker 2: for example, is that when there was a Russian increasion
6:00
Speaker 2: of invasion of Ukraine and it sent the price sky high,
6:04
Speaker 2: they made billions in windfall profits.
6:08
Speaker 1: Even the ABC doesn't buy it now. As I said
6:11
Speaker 1: at the start tonight, I'm a minority Labour government dealing
6:13
Speaker 1: with this bloke and having anything to do with the
6:15
Speaker 1: Greens having to implement this fantasy world where evil rich
6:19
Speaker 1: corporations need to be flogged because they're profitable, and moneys
6:23
Speaker 1: can flow to fix everyone's teeth and build houses. It's madness.
6:27
Speaker 1: At the same time, Robin Hood refuses to accept immigration's
6:30
Speaker 1: got anything to do with the housing crisis. The Middle
6:33
Speaker 1: East war started by a terrorist attack on Israel can
6:36
Speaker 1: be sold by everyone being nice to each other and
6:39
Speaker 1: that the corrupt c FMEU is somehow going to fix itself.
6:43
Speaker 1: Band presents to me like some UNI student living in
6:47
Speaker 1: a sharehouse, riding a bike to lectures with a rainbow
6:51
Speaker 1: view of the world where money comes off a tree
6:54
Speaker 1: and if we all get together in some Kumbai world,
6:57
Speaker 1: everybody wins, no poverty, no internation, conflicts, sun and win
7:01
Speaker 1: power of the wide brown land. He is so naive now,
7:06
Speaker 1: just finally on Band, he refused today to slam the
7:08
Speaker 1: Greens housing spokesman Max Chandler Mather. He attended one of
7:13
Speaker 1: those CFMA, you rallies yesterday acting like some sort of
7:17
Speaker 1: warm up man.
7:19
Speaker 4: Why are the rights under attack?
7:21
Speaker 1: Where we go?
7:23
Speaker 2: Labor has used these untested allegations as an excuse to
7:27
Speaker 2: attack an entire union.
7:29
Speaker 4: And let's be clear that union.
7:31
Speaker 5: Is everyone here today, not any individual.
7:34
Speaker 2: It is all of you here today, and they have
7:36
Speaker 2: attacked all of.
7:37
Speaker 1: You, not the black T shirt. He's not a union member,
7:42
Speaker 1: he's a Grittins MP. Now on that stage there were
7:44
Speaker 1: signs calling our Prime Minister a Hitler like figure disgraceful
7:49
Speaker 1: and band defended him being there. But apparently I should
7:52
Speaker 1: point out Chandler Mayor asked for those signs to be
7:55
Speaker 1: taken down prior to his speech, and of course the
7:58
Speaker 1: CFMA you didn't do it. But have a look at
8:00
Speaker 1: the agro coming from the construction arm of this union,
8:04
Speaker 1: infiltrated by vikings and claims of standover tactics.
8:10
Speaker 6: Way, when I say you say that, put the air dochlod.
8:32
Speaker 1: Dot frightening stuff. Now, this mob are not going away
8:39
Speaker 1: anytime soon. And watch carefully the pressure they put on
8:43
Speaker 1: the Victorian government, in particular over giant infrastructure projects that
8:48
Speaker 1: that union dominates. It's their workforce on those projects and
8:52
Speaker 1: don't expect to send to Allen to stand up to them.
9:00
Speaker 1: Get into tonight with Sharhi's regular Wednesday night panel form
9:02
Speaker 1: of Victorian Liberal Party president Michael Kroger is with us
9:06
Speaker 1: and former Labor Minister Graham Richardson. Welcome to you both.
9:10
Speaker 1: Rich Are can I start with you? So Bant and
9:12
Speaker 1: this super profits tax his speech today claiming this would
9:16
Speaker 1: be his am but claim to deal with a minority
9:19
Speaker 1: labor government. Surely they're not going to deal with Band,
9:23
Speaker 1: are they?
9:25
Speaker 7: Well?
9:25
Speaker 1: I certainly hope not.
9:28
Speaker 7: You know, the more you look at this like he
9:29
Speaker 7: is completely crazy and I just hope we don't go
9:33
Speaker 7: down a Looney Tunes path. I hope we're more mature
9:37
Speaker 7: than that.
9:40
Speaker 1: If you were in that room and you had to,
9:42
Speaker 1: I mean, if the Teals couldn't get you across the
9:45
Speaker 1: line and you had to deal with Band, would you
9:48
Speaker 1: have any other option? Though? Well, I'd certainly be searching
9:53
Speaker 1: for one.
9:55
Speaker 7: You know, he'd be the last card in the pack
9:58
Speaker 7: because I think he's getting more radical as the time
10:01
Speaker 7: goes by, not less, and I think that's making him
10:05
Speaker 7: a harder sell. You know, the Greens just get that
10:09
Speaker 7: hard line ten percent left vote in Australia. They have
10:13
Speaker 7: never been able to lift it. It just sticks at
10:16
Speaker 7: ten or eleven and stays there. And that's because the
10:20
Speaker 7: policies that they've got will never appeal to the ordinary Australian.
10:24
Speaker 1: Ever, Michael, how bad, how damaging for Australia with a
10:30
Speaker 1: minority labor government doing a deal with the Greensburg, Well,
10:35
Speaker 1: it would be disastrous.
10:36
Speaker 8: I mean, this guy banned is a wrecker. He's a
10:38
Speaker 8: wrecker around, an extremist and you know he's pie in
10:42
Speaker 8: the sky policy today. I mean, you know, rich rich
10:46
Speaker 8: O's right. You know, even if Albanezi was forced to
10:50
Speaker 8: do a deal with Band after the election, had to
10:52
Speaker 8: be a one term labor government. So no one they told,
10:55
Speaker 8: They told them the Tasmanian Labor leader at that state election,
10:59
Speaker 8: you're not going to do a deal with the Greens
11:01
Speaker 8: to win government down there in Tasmania. And if Albo
11:05
Speaker 8: had to, he'd be there for if he won the election,
11:08
Speaker 8: he'd be there for five minutes because they would wreck
11:10
Speaker 8: the Labor Party and wreck Australia. And you know, thank goodness,
11:14
Speaker 8: people are starting to see, you know, the more publicity
11:17
Speaker 8: Band gets this anti Israel stuff, this weird tax policy,
11:21
Speaker 8: this guy speaking of this CMF you rally yesterday. The
11:25
Speaker 8: more exposure they get, the more extreme they get, the
11:27
Speaker 8: less likely they are to win seats, and that's a
11:30
Speaker 8: good thing for Australia.
11:31
Speaker 1: Steve. Those disgraceful signs there are portraying Anthony Albanezi as
11:37
Speaker 1: a Hitler like figure Graham. That just shows that the
11:40
Speaker 1: CFMU are not going to just sit back, take this
11:43
Speaker 1: administrator and say, okay, we have to do things differently. Now.
11:47
Speaker 1: How much of a problem is that for the PM.
11:50
Speaker 7: Well, it's a problem, but provided you stick to your guns,
11:55
Speaker 7: you know, it's a problem will eventually go away. The
11:58
Speaker 7: one thing that Labour's got to be certain about is
12:01
Speaker 7: that once you start the move when the CFMAU, you've
12:05
Speaker 7: got to finish it. You can't leave it half asked.
12:08
Speaker 7: You've got to finish it. And I hope that Albert
12:11
Speaker 7: gets on with that job very quickly.
12:15
Speaker 1: Michael. We learned today via a media release from an
12:18
Speaker 1: outfit in Melbourne that the Muslim Votes Matters is about
12:23
Speaker 1: to launch its national campaign. It's going to happen in
12:26
Speaker 1: Melbourne this coming Sunday. They asked all sorts of media.
12:29
Speaker 1: People who want to go along, they need to register.
12:32
Speaker 1: The release says Muslims in Australia had been grossly overlooked
12:37
Speaker 1: and undermined for decades thanks to They blame the mainstream
12:41
Speaker 1: media perpetrating Islamophobia. Michael, we saw this launched in New
12:47
Speaker 1: South Wales. We're not sure where that's going to go.
12:49
Speaker 1: Will it take hold in Victoria and how much should
12:52
Speaker 1: the major parties be worried about this Muslim vote.
12:56
Speaker 8: Well, it'll take hold to a certain degree because I
12:59
Speaker 8: think that it will be quite disciplined. But I don't
13:03
Speaker 8: think it'll it'll affect any seats in Australia as it
13:07
Speaker 8: did in Britain, Vaders who are pretty educated, and I
13:12
Speaker 8: don't think it's going to I don't think it's going
13:14
Speaker 8: to swing a seat. It could, but I don't think so.
13:17
Speaker 8: I think I think Peter Khalil will probably still hold
13:20
Speaker 8: Wills and I think Labor will hold the seats in
13:22
Speaker 8: New South Wales. But it's another distraction and to to
13:26
Speaker 8: this government, and it's not it's not helping them. By
13:30
Speaker 8: the way, see if you can just go back to
13:32
Speaker 8: the c FMU for for one minute to add to
13:34
Speaker 8: something Graham said, what the press haven't you worked out
13:36
Speaker 8: is that Albanese is Albanese is motivated by long running
13:40
Speaker 8: faction fight he's been having the New South Wales division.
13:43
Speaker 8: He's Albow is the leader of the hard left in
13:46
Speaker 8: the New South Wales division. There's there's the soft left,
13:49
Speaker 8: which is the old Ferguson family of which the CFMU
13:52
Speaker 8: were part of that faction. So Albo's had this long
13:55
Speaker 8: war with the Ferguson faction. So in bashing the c FU,
14:00
Speaker 8: he's finishing off his long term factional opponent in the
14:03
Speaker 8: News of Wales Labor Party. That's why he is so
14:05
Speaker 8: keen to finish them off. There are enemies of him
14:08
Speaker 8: within the Labor Party in New South Wales and have
14:10
Speaker 8: been for decades. And so when he says, oh, it's
14:13
Speaker 8: all because of you know, these corruption allegations, et cetera,
14:15
Speaker 8: the subtext to all of this is great, I can
14:18
Speaker 8: I can stick a knife into my factional opponent in
14:20
Speaker 8: New South Wales and stick another knife into the into
14:22
Speaker 8: the Ferguson faction who's opposed for generations. So that's the
14:26
Speaker 8: subtext what's going on here. And the CFM knew they're
14:30
Speaker 8: obviously a wake up to this mate.
14:33
Speaker 1: Well, we got the godfather of factions with us tonight,
14:37
Speaker 1: Richard As Michael picked that correctly.
14:42
Speaker 7: I think, Michael, there's a grain of truth in what
14:46
Speaker 7: Michael says.
14:46
Speaker 1: I'll just say that a grade of truth, only a
14:52
Speaker 1: grain of truth. He's still very polite. He's still very polite.
14:57
Speaker 1: A couple of grains. He's very polite. Whichjoe, you know
15:01
Speaker 1: those seats of Southwest Sydney as well as anybody. Is
15:04
Speaker 1: this Muslim vote going to catch on? And is it
15:07
Speaker 1: a problem for labor?
15:10
Speaker 7: Look, I don't think it'll catch on in any big way. No,
15:13
Speaker 7: it'll be a small irritation and annoyance, but it'll be
15:18
Speaker 7: no big deal.
15:22
Speaker 1: Michael, I need to go back to this. Max Chandler
15:24
Speaker 1: made the bloke. He's the guy that loves, or seems
15:27
Speaker 1: to love a microphone. He's got a very healthy ego.
15:30
Speaker 1: He's been blasted for addressing that rally that featured those pictures.
15:35
Speaker 1: He wanted them taken down apparently, But what the hell
15:38
Speaker 1: is a Greens MP from Queensland doing standing up there
15:44
Speaker 1: addressing a CFMU rally?
15:46
Speaker 8: What's that about? Well, he's starring up trouble against the
15:50
Speaker 8: Labor Party. That's what he's trying to do here. Any
15:52
Speaker 8: opportunity for the Greens to get an add to their
15:54
Speaker 8: innicity vote and stick it into Labor, that's what he's doing.
15:58
Speaker 8: And by the way, if this is true that you
16:01
Speaker 8: know these signs were any request that these signs be
16:03
Speaker 8: taken down.
16:04
Speaker 1: He should have refused to appear.
16:07
Speaker 8: He should have said, I'm not going to stand here
16:09
Speaker 8: at a rally where the Prime Minister this country is
16:11
Speaker 8: depicted as Adolf Hitler. Nor am I going to appear
16:14
Speaker 8: at a rally where there's a coffin of the effectively
16:16
Speaker 8: of Albanizi eye. He's dead body politically in front of him.
16:20
Speaker 8: He should have said, take those down and then I'll appear,
16:23
Speaker 8: But I'm not going to appear with that behind me.
16:25
Speaker 8: So he appeared anyway, so irresponsible of him, disgraceful of him.
16:30
Speaker 1: But this is the Greens.
16:31
Speaker 8: They are just wreckers and any if they can wreck
16:35
Speaker 8: the Labor Party, boy, they're very happy to do that.
16:37
Speaker 8: They're very happy to wreck the Labor Party and that's
16:39
Speaker 8: why he steamed up with the CFMU. But what Adam
16:42
Speaker 8: Band needs to do is given undertaking that he will
16:44
Speaker 8: not accept any donations from the CFMU. It's going to
16:47
Speaker 8: be harder now because they're an administration or any of
16:50
Speaker 8: their allies who are backing the CFMU for the next election.
16:53
Speaker 8: You just watch if there are donations from these radical
16:56
Speaker 8: left unions to the Greens at the next election, because
16:59
Speaker 8: any cf supporter he should say, we're not accepting donations
17:03
Speaker 8: from you.
17:05
Speaker 1: Labor Minister Murray, what weighed into this this morning. Here's
17:07
Speaker 1: what he had to say.
17:09
Speaker 9: I think it's also very very disturbing that we saw
17:13
Speaker 9: a Greens MP Max Chandler Neather decide to share a
17:16
Speaker 9: stage with the Construction Union yesterday in Brisbane, despite those
17:20
Speaker 9: placards invoking Nazi references, despite the coffins with the Prime
17:24
Speaker 9: minister's face. I mean, what does it say to people
17:27
Speaker 9: that a Greens MP puts grand standing in front of
17:30
Speaker 9: a crowd above making a statement about what's respectful or not.
17:35
Speaker 9: When you share a stage with a group, you make
17:37
Speaker 9: a choice and you're endorsing the culture and behavior of
17:40
Speaker 9: that organization.
17:43
Speaker 1: Richo, how much is this about the Greens sending a
17:46
Speaker 1: signal to the CFMAU that look, you know, if you've
17:49
Speaker 1: got any spare money to toss around you in an
17:51
Speaker 1: election campaign. We'd be more than happy to take it.
17:55
Speaker 7: I think there's an element of that in this, that's
17:58
Speaker 7: for sure. Sadly, you know, the CFMU occasionally looks to
18:04
Speaker 7: the Greens, or some people in it do, and I
18:07
Speaker 7: find that very sad. I mean, the CFMU has been
18:10
Speaker 7: a bit of a let's say, a two edged sword
18:14
Speaker 7: for years. You know, there are a lot of good
18:16
Speaker 7: people in the CFMU, but my god, there are some
18:19
Speaker 7: horrible bases in it as well.
18:23
Speaker 1: Nicely put Graham. Now, Michael, let's get onto one of
18:27
Speaker 1: our favorite topics, the dysfunctional Victorian labor government, taxing the
18:31
Speaker 1: hell out of anyone they can find they Now, have
18:33
Speaker 1: you believed this? You know this is somehow able to
18:39
Speaker 1: be fixed, but I'm not sure how they're going to
18:40
Speaker 1: do it other than tax everyone to death, including now
18:43
Speaker 1: a seven a half percent tax on Airbnb, so no
18:46
Speaker 1: tourist will come here. You had a hospital emergency department
18:49
Speaker 1: this morning. You two won't believe this. They had a
18:52
Speaker 1: hospital emergency department had to call an ambulance to rush
18:56
Speaker 1: to the hospital empty to treat a cardiac patient because
19:01
Speaker 1: of a lack of resources inside the hospital, Michael, what
19:05
Speaker 1: the hell was happening?
19:09
Speaker 8: Well, when Joan Kernel left office through the good growth
19:13
Speaker 8: of the Victorian public back in nineteen ninety two, she
19:16
Speaker 8: left a debt behind her of thirty three billion. We're
19:19
Speaker 8: now approaching one hundred and eighty billion under this mob right,
19:22
Speaker 8: same dollar terms. There's no money here in Victoria, Steve.
19:25
Speaker 1: The place is broke.
19:27
Speaker 8: Andrews and Cindra Allison have bankrupted Victoria effectively, so there
19:33
Speaker 8: isn't any more money for the hospital services. They've taxed
19:36
Speaker 8: the hell out of the place. Land tax in Victoria
19:38
Speaker 8: is at absurd level, so people have selling investment properties.
19:41
Speaker 8: They've massively increased payroll tax in Victoria, every other tax
19:45
Speaker 8: they could think of property taxes to make up this
19:48
Speaker 8: shocking budget.
19:49
Speaker 1: Shawful.
19:49
Speaker 8: Tim Pallace has been the treasurer here for ten years. Tim,
19:53
Speaker 8: you order hang your head in Showmte. You've left this
19:55
Speaker 8: place a burning wreck. But there's no money, Steve. They've
19:58
Speaker 8: run out of money. And he bought the two elections
20:00
Speaker 8: in eighteen and twenty two. He spent fifty billion at
20:03
Speaker 8: each election. Daniel Andrews, he promised everything. Well, of course
20:05
Speaker 8: people are going to vote for fifty billion each time.
20:09
Speaker 8: But of course at the next election there's nothing to
20:11
Speaker 8: spend and people are going to say, well, you know,
20:14
Speaker 8: you've ruined Victoria as they have, and hopefully they altern
20:17
Speaker 8: to John Pursuito and the Liberal Party because this mob
20:20
Speaker 8: have left a ruin here in Victoria.
20:22
Speaker 1: Steve rich Omichael's very optimistic about that. I mean, if
20:27
Speaker 1: you had an election today, incredibly, to Michael land, me
20:30
Speaker 1: and to everyone who mainly lives in Victoria, Labor would
20:33
Speaker 1: get re elected. I mean, this is the problem that
20:36
Speaker 1: the alternative opposition, particularly with John Pursudo as leader, who
20:40
Speaker 1: I don't think can lead them to any sort of
20:42
Speaker 1: win that still get back Ingram.
20:45
Speaker 7: You know, I don't see that as a problem. I'm
20:48
Speaker 7: delighted to hear it, but of course it's true. I
20:54
Speaker 7: think sometimes you know that it doesn't matter how good
20:57
Speaker 7: or vad you are, it's how you perceived. I don't
21:00
Speaker 7: think Basuto is ever going to be premier in Victoria,
21:03
Speaker 7: and the problem that lies beneath that is that how
21:07
Speaker 7: do you replace him when you've got a caucus of
21:11
Speaker 7: nobody's It's pretty hard to do. So I think the
21:15
Speaker 7: Liberals in Victoria have got a lot of soul searching
21:17
Speaker 7: to do. So, Michael, get on the job. I think
21:22
Speaker 7: he might already be on the job.
21:23
Speaker 1: Graham. I don't think you need to tell him to
21:25
Speaker 1: do that. I've long thank you. Oh, I don't know
21:30
Speaker 1: about that. Michael and Graham, thank you as always. We'll
21:33
Speaker 1: catch up with you shortly coming up after the break.
21:36
Speaker 1: Premier Chris Men's in New South Wales. Look, he's not
21:38
Speaker 1: holding back his disappointment at Tannya Plipa Sex decision to
21:42
Speaker 1: block this billion dollar gold mine. Mining Council CEO Stephen
21:46
Speaker 1: Galilee will join me to discuss what that might mean
21:49
Speaker 1: for projects right around the country, plus the stunning snub
21:53
Speaker 1: by former Queensland Premier Anastasia Palache hang around. Welcome back
22:00
Speaker 1: Steve Price in for Shari. Now, this route between the
22:03
Speaker 1: New South Wales and the Federal Labor government around this
22:06
Speaker 1: gold mine has escalated. Today. You had the Premier of
22:09
Speaker 1: New South Wales, Chris Mins, ramping up his retric against
22:13
Speaker 1: the Commonwealth's last minute order to kill off this gold mine.
22:18
Speaker 1: Min's didn't hold back in budget estimates earlier today I
22:21
Speaker 1: ever listened to him. I'm disappointed by the decision from
22:24
Speaker 1: the Commonwealth Government. You disagree with the reversion. I'm slut
22:27
Speaker 1: said that many times.
22:28
Speaker 4: And so in your view, ten, you're cleversick using that power.
22:32
Speaker 4: Was she was in error?
22:33
Speaker 1: Yes, that's Chris Mins Today. Now the Prime Ministers insisting
22:37
Speaker 1: that the project can still go ahead though Regiu's resources
22:41
Speaker 1: does not sound as confident. Let's bring in New South
22:43
Speaker 1: Wales Minerals Council Chief Executive Stephen Galilee. Stephen, good to
22:49
Speaker 1: see you again defending this decision, Minister Pleversecond, even the
22:54
Speaker 1: Prime Minister say, look, this can go ahead, just move
22:57
Speaker 1: the tailings dam. But surely the company, Stephen, looked at
23:01
Speaker 1: all those alternative sites, didn't they.
23:04
Speaker 5: This is political damage control from the Prime Minister and
23:07
Speaker 5: the minister involved. This decision is a dagger at the
23:10
Speaker 5: heart of the project. The minister knew exactly what she
23:14
Speaker 5: was doing when she made her decision. She knew that
23:17
Speaker 5: the tailing stand was integral to the mind design the
23:20
Speaker 5: viability of the project. She was told that by the
23:22
Speaker 5: company formally and as was her department on many occasions.
23:26
Speaker 5: She knew exactly what the implications were of her decision.
23:30
Speaker 5: And this is the kind of political damage control and
23:33
Speaker 5: rhetoric you get from people that have never had a
23:35
Speaker 5: real job outside of parliament. They've been in Parliament too long.
23:39
Speaker 5: They think that if you put it in a press
23:40
Speaker 5: release it happens. Mind design is not some kind of
23:44
Speaker 5: cut and paced exercise to move that tailing stan means
23:48
Speaker 5: an entire redesign of the mind itself. It means geotechnical,
23:52
Speaker 5: geological engineering, biodiversity ek, environmental, cultural, heritage and other studies.
23:59
Speaker 4: Need to be done.
24:01
Speaker 5: It means a new application needs to be prepared and assessed.
24:05
Speaker 5: And at the end of all that, after several years,
24:07
Speaker 5: you know, four or five years or so, potentially you've
24:10
Speaker 5: got another spurious veto decision.
24:13
Speaker 4: From the Minister again.
24:14
Speaker 5: So these comments from the Prime Minister and from Minister
24:17
Speaker 5: Pleitasek are a breath taking misunderstanding of how the planning
24:21
Speaker 5: system works in New South Wales and just how out
24:25
Speaker 5: of touch they are in relation to how things happen in.
24:27
Speaker 4: The real world.
24:29
Speaker 1: So I explain, if you ken Stephen this section ten
24:33
Speaker 1: legislation for us, what sort of power does that bestow
24:37
Speaker 1: on the minister and what sort of sovereign risk might
24:41
Speaker 1: that pose to Australian mining projects right around the country.
24:45
Speaker 5: Well, it effectively bestows a right of vetail on the
24:48
Speaker 5: Minister in relation to a claimed cultural heritage status of
24:53
Speaker 5: particular sites in relation to these sorts of projects. And
24:57
Speaker 5: it's not just mining projects. We've seen these sorts of
25:00
Speaker 5: claims made in relation to gas projects in relation to
25:05
Speaker 5: other mining projects, and I'm sure that that'd be applicable
25:08
Speaker 5: to renewable energy and other projects in regional New South
25:11
Speaker 5: Wales as well. They give the Minister a discretion to
25:15
Speaker 5: block projects on the basis in this case of information
25:19
Speaker 5: she says it's culturally sensitive that she can't repeat it.
25:23
Speaker 5: So how's how's the proponents supposed to know that it
25:26
Speaker 5: creates massive sovereign risks issues for any major investment in
25:31
Speaker 5: regional Australia. This is a New South Wales example, but
25:35
Speaker 5: this is a risk for regional projects right across the country.
25:39
Speaker 5: And it's a it's a it's a weaponized piece of
25:41
Speaker 5: legislation that we've seen used by the Environmental Environmental Defenders
25:46
Speaker 5: Office and others to try and block resources projects. And
25:52
Speaker 5: this is what happens when a weaponized project is given
25:57
Speaker 5: some kind of way by the minister. So she she's
26:00
Speaker 5: swung a wrecking ball at this project. The project is
26:04
Speaker 5: now back to the drawing board, and for her and
26:07
Speaker 5: the Prime Minister to suggest they can simply tweak the
26:10
Speaker 5: application and everything is going to be okay, is, as
26:13
Speaker 5: I said, a breathtaking misunderstanding of how these major projects
26:17
Speaker 5: are assessed through state planning systems.
26:19
Speaker 1: And we're not talking here. Are we about a threat
26:22
Speaker 1: to native animals or some major environmental impact on the
26:27
Speaker 1: region that's going to destroy a river or create damage.
26:31
Speaker 1: We're actually talking about an indigenous complaint from an individual
26:35
Speaker 1: that was not agreed by the actual indigenous landholders of
26:39
Speaker 1: that area, and we don't even know exactly what the
26:42
Speaker 1: complaint is.
26:44
Speaker 5: These cultural heritage claims were rigorously assessed through the New
26:48
Speaker 5: South Wales government's own processes. The local Aboriginal Land Council
26:53
Speaker 5: said there were no sites or artifacts of cultural significance
26:58
Speaker 5: that would prevent this project from seeding. That should be
27:01
Speaker 5: the end of the matter. But Minister Plebsek has entertained
27:05
Speaker 5: whispers in her ear from a dissident local indigenous group
27:10
Speaker 5: of dubious credentials which she says are so sensitive she
27:15
Speaker 5: can't repeat, to block this project. She knew exactly what
27:19
Speaker 5: she was doing. She swung on a wrecking ball at
27:22
Speaker 5: this project. It's a billion dollars of investment, it's eight
27:25
Speaker 5: hundred local jobs in regional New South Wales. And this
27:28
Speaker 5: is a threat not just to this project but for
27:30
Speaker 5: any future mining project here in New South Wales and
27:33
Speaker 5: across the central west of our state, where critical minerals
27:36
Speaker 5: and metals projects are so important to our economy for
27:38
Speaker 5: the future. And good on Premier mins for recognizing that
27:42
Speaker 5: and for saying that.
27:43
Speaker 4: And I feel for the local aborage.
27:45
Speaker 5: And a Land Council who must be thinking, well, what
27:48
Speaker 5: are our views worth in these assessments if Minister plebasec
27:52
Speaker 5: can ignore our views and listen to whispers in her
27:55
Speaker 5: ear from a different group and block the project on
27:58
Speaker 5: that basis.
28:01
Speaker 1: The Premier has been strong, but he says he's not
28:05
Speaker 1: going to pick up the phone for some reason and
28:08
Speaker 1: try and intervene. Should he?
28:09
Speaker 5: Well, I know that the New South Wales government, they've
28:13
Speaker 5: done their assessment. They did the right thing. They've conducted
28:16
Speaker 5: an assessment over more than three years on this project.
28:19
Speaker 5: They send it to the Independent Planning Commission in our state,
28:22
Speaker 5: which conducts an independent assessment.
28:24
Speaker 4: It was given the tick for approval.
28:26
Speaker 5: The issues that have been raised at the commonwealth level
28:29
Speaker 5: were raised at the state level and they were taken
28:32
Speaker 5: into account when the approval was granted. So if any
28:36
Speaker 5: state government should be very concerned that the federal government
28:39
Speaker 5: now has this effective right of VUTA over any project
28:42
Speaker 5: they wish to develop within their own jurisdictions, and in
28:44
Speaker 5: this case it's New South Wales and the New South
28:47
Speaker 5: Wales government has reacted accordingly, but any state government around
28:51
Speaker 5: the country should be very wary of what this leads to.
28:55
Speaker 5: This means that the Commonwealth can block any project that
28:57
Speaker 5: they don't see to be politically consistent with their values,
29:03
Speaker 5: or if they decide that they want to block it.
29:05
Speaker 4: For other reasons.
29:06
Speaker 5: So good on the Premier and good on the New
29:09
Speaker 5: South Wales government for standing up for New South Wales.
29:13
Speaker 5: But it's not just a case that you can just
29:15
Speaker 5: tweak this application and put it back into the system
29:18
Speaker 5: and move the tailings dam on the mind plan in
29:20
Speaker 5: some kind of cut and paced exercise. These things happen
29:24
Speaker 5: in the real world in a lot more complicated fashion
29:26
Speaker 5: than that, and the Prime Minister and the Minister should
29:30
Speaker 5: know that.
29:30
Speaker 1: You make an interesting point there. I mean, what chance.
29:33
Speaker 1: Do you think this project would have been canceled if
29:37
Speaker 1: it were, say a renewable energy project like a wind
29:40
Speaker 1: farm or some solar panels.
29:42
Speaker 5: Well, if this was a dam rather than a tailings dam,
29:45
Speaker 5: if it was a dam for a pumped hydro project,
29:48
Speaker 5: perhaps the outcome and the minister's discretionary decision would have
29:51
Speaker 5: been different. If this was the minister from regional a
29:55
Speaker 5: regional electorate rather from an inner city electorate under threat
29:59
Speaker 5: from the maybe the decision would have been different.
30:02
Speaker 4: But look, in the end, we are where we are.
30:05
Speaker 5: It's a terrible decision and what makes it worse is
30:09
Speaker 5: the minister's refusal to actually go to the region and
30:12
Speaker 5: frunt up to the people involved in the communities that
30:15
Speaker 5: have lost these jobs in this investment and explain her decision.
30:18
Speaker 1: What do you reckon this might have cost the company regions?
30:21
Speaker 5: Well, they've already written down hundreds of millions of dollars
30:24
Speaker 5: in their annual reporting so far. They've spent hundreds of
30:28
Speaker 5: millions of dollars and well over five years trying to
30:31
Speaker 5: develop this resource.
30:32
Speaker 4: So they did the right thing.
30:33
Speaker 5: They decided they would invest in New South Wales, create
30:36
Speaker 5: those jobs and generate that investment, and I'm sure they
30:40
Speaker 5: are reeling and others are also thinking, well why would
30:43
Speaker 5: we bother, not just in New South Wales but around
30:46
Speaker 5: the country when this sort of decision can be imposed
30:49
Speaker 5: at the very last minute after our more than four
30:51
Speaker 5: or five year extensive assessment process by the state government
30:54
Speaker 5: and others.
30:55
Speaker 4: This project had.
30:56
Speaker 5: All its Commonwealth approvals as well, apart from Minister Clevers's
31:00
Speaker 5: Cultural Heritage approval too, So you know, it's a terrible
31:05
Speaker 5: signal for investment in region on East South Wales and
31:07
Speaker 5: these projects are so important for regional economies and regional
31:10
Speaker 5: communities and that's why you've seen such a reaction from
31:14
Speaker 5: the locals in that region, and it's a warning sign
31:18
Speaker 5: for any other regional community across the country.
31:21
Speaker 1: Look, it's just disgraceful. Stephen Galilee, appreciate it. Thank you
31:24
Speaker 1: very much for coming on the program tonight. Well that
31:28
Speaker 1: was a very blunt assessment, wasn't it. Now still to
31:30
Speaker 1: come Jim Chalmers, the Treasurer he's today doubled down on
31:34
Speaker 1: those comments where he said Peter Dutton is a divisive figure.
31:39
Speaker 1: Is Labor playing the right game? Here? Will ask the
31:42
Speaker 1: panel up next. Plus I'll be joined by economist Leith Vannsel,
31:45
Speaker 1: and we'll talk about He'll join us live to break
31:47
Speaker 1: down the latest inflation figures and what they mean. Welcome
31:54
Speaker 1: back on this Wednesday night, Steve Price in for Charie Markson.
31:57
Speaker 1: Shari will be back with you tomorrow night. Paul Murray
32:00
Speaker 1: coming up at the top of the hour. Now, treasure
32:03
Speaker 1: of Jim Chalmers. He made a very long, hour long
32:06
Speaker 1: speech at the weekend, and he doubled down today on
32:10
Speaker 1: some of the comments he made in that speech about
32:12
Speaker 1: Opposition leader Peter Dutton. Now, he used the word divisive
32:16
Speaker 1: on the weekend, but he also used the word dangerous.
32:19
Speaker 1: Now he said today that he was standing by his
32:21
Speaker 1: comments that the opposition leader is divisive. But I note
32:25
Speaker 1: that the word dangerous went missing. Here was what Jim
32:29
Speaker 1: Chalmers had to say today.
32:31
Speaker 10: Most people look around the world and see the divisiveness
32:34
Speaker 10: in politics overseas. They want to reject it, and he
32:37
Speaker 10: seems to want to embrace it. And so the point
32:39
Speaker 10: that I made then and the point that I'm making
32:41
Speaker 10: again today is that our focus is on the cost
32:45
Speaker 10: of living and the fight against inflation. His focus is
32:48
Speaker 10: on dividing people. And that's because that's all he knows,
32:52
Speaker 10: and it's all that he does.
32:56
Speaker 1: Pure politics. That's it's all about. Let's bring in tonight's
32:59
Speaker 1: political panel talking in politics, Liberal Senator Holly Hugheser was
33:02
Speaker 1: great to see her and Julia Gallat's former press secretary
33:05
Speaker 1: Darren Barnette. Welcome to you both. Can I start with you, Senator?
33:12
Speaker 1: I feel like I'm in a bit of a time
33:14
Speaker 1: warp here I can take us and you were there,
33:18
Speaker 1: you can go all the way back. This is how
33:20
Speaker 1: the Labor Opposition used to describe Tony Abbott, wasn't.
33:23
Speaker 11: It Absolutely And that went so well for them. But
33:28
Speaker 11: it's just extraordinary that these personal attacks on Peter Dutton
33:33
Speaker 11: is basically all they've got left in their armory. They've
33:37
Speaker 11: completely failed when it comes to addressing cost of living
33:40
Speaker 11: pressures in this country. Everyday Australians are doing an increasingly
33:44
Speaker 11: tough whether it's a supermarket at the petrol bowser, trying
33:48
Speaker 11: to put a roof over the head and food on
33:51
Speaker 11: the table. It's becoming increasingly difficult for Australian families. Yet
33:55
Speaker 11: all this Labor government has is continual personal attacks and
34:00
Speaker 11: is and Jim Chalmers to spend his time making these
34:06
Speaker 11: outrageous statements when Australians are doing so Doing it so
34:10
Speaker 11: tough is just ridiculous and insulting to all of those.
34:13
Speaker 1: Australians, Darren. In your time in government, obviously you sit
34:18
Speaker 1: down and discuss tactics with a leader, when you discuss
34:23
Speaker 1: how to portray the person you want to beat in
34:26
Speaker 1: an electoral contest, how much discussion around the table is
34:31
Speaker 1: how much of it should be personal?
34:35
Speaker 12: I think that Look, Labor Party does it and other
34:37
Speaker 12: parties do it too. Is they go to focus groups,
34:40
Speaker 12: they see which words, which phrases, which descriptions resonate with
34:44
Speaker 12: people at a certain point in time. Obviously that term
34:48
Speaker 12: divisive or divisive has come up at some point. But honestly,
34:53
Speaker 12: it's not a surprise that an opposition leader would try
34:56
Speaker 12: to be divisive. That's their job. They oppose, They open
34:59
Speaker 12: up fault lines in government arguments and they try to
35:03
Speaker 12: exploit those and convince people to come over to their
35:06
Speaker 12: side when they next vote. But that second word that
35:09
Speaker 12: you mentioned, being dangerous, that's a much more risky word
35:13
Speaker 12: to use, and I think that's probably why it's been
35:16
Speaker 12: left in the locker for today's speech. But divisive. I
35:20
Speaker 12: think that's going to be a term that everyone in
35:22
Speaker 12: opposition is going to be described by everyone in government,
35:26
Speaker 12: and when there's inevitably a change of government, they'll just
35:29
Speaker 12: swap talking points and the same descriptions will run in
35:31
Speaker 12: the other direction.
35:35
Speaker 1: Holly, I mean Tony Abbott had the Gold Medal for
35:37
Speaker 1: how to be an opposition leader, put your arguments and
35:40
Speaker 1: get elected. Is Peter Dutton taking a leaf out of
35:44
Speaker 1: Abbot's book and modeling the way he's going to fight
35:47
Speaker 1: this election on the way Abbott did it? Well?
35:51
Speaker 11: I think Peter is being Peter. I've known him for
35:54
Speaker 11: over twenty years and I think he's doing a great
35:57
Speaker 11: job as opposition leader. And I think Margaret's use to
36:00
Speaker 11: say I love it when they go personal because it
36:02
Speaker 11: means they've got no arguments left. And I think that's
36:05
Speaker 11: the case with this government. And it's interesting though, using
36:09
Speaker 11: the word divisive or the creating division, when we know
36:13
Speaker 11: it was this Prime Minister through the Voice campaign that
36:15
Speaker 11: probably injected the moist division this country has ever seen
36:20
Speaker 11: within the communities. So I think they have to be
36:23
Speaker 11: careful here in the ALP because it's very easy to
36:26
Speaker 11: turn around that this is a government that's brought more
36:28
Speaker 11: division to this country. Whether it's been how they've dealt
36:32
Speaker 11: with the situation in Gaza and anti Semitic attacks and
36:35
Speaker 11: their inability to get off the fence and defend our
36:40
Speaker 11: Australian Jewish community and what's been happening, whether it was
36:43
Speaker 11: the Voice referendum, but the continual divisiveness that this alp
36:47
Speaker 11: government has tried to stoke. I can't see it working
36:51
Speaker 11: well for them as we get closer to the election.
36:56
Speaker 1: Darren, the choice of the word divisive, what do you
36:59
Speaker 1: think exactly that Treasurer Charmers is pointing to. Is he
37:04
Speaker 1: talking about the attitude of Peter Dutton to not allow
37:10
Speaker 1: visa holders from Palestine into Australia when they're not being
37:14
Speaker 1: checked properly. Is it division about how we're going to
37:17
Speaker 1: generate power or is it a general term that he
37:20
Speaker 1: divides the community because of his tough politics.
37:24
Speaker 12: Well, I think it's a term that resonates in different
37:26
Speaker 12: parts of the country. You'll find the inner suburban seats
37:31
Speaker 12: of the major capitals, probably the two that you just described,
37:35
Speaker 12: they are issues that resonate. I think the nuclear power
37:39
Speaker 12: debate divisive is one way of describing it's certainly bold
37:43
Speaker 12: and we will wait to see how the Australian people
37:46
Speaker 12: take that when they put their vote at the next election.
37:49
Speaker 12: But as I said before, it's the job of the
37:52
Speaker 12: opposition to put up alternatives, and it's their job to
37:56
Speaker 12: open up fault lines in government arguments. And when you're
37:59
Speaker 12: a government minister and you're trying to sell the message
38:02
Speaker 12: of the day or the story of the day and
38:04
Speaker 12: someone comes along and just completely derails that, you probably
38:09
Speaker 12: get a bit frustrated. But that's part of the rough
38:11
Speaker 12: and tumble of politics and you just got to deal
38:13
Speaker 12: with it and move on.
38:17
Speaker 1: We all love a political snub. Queensland Premier Stephen Miles,
38:20
Speaker 1: now you've got to say not the most popular bloke
38:22
Speaker 1: in Queensland. Even his predecessor and his one time all
38:27
Speaker 1: Anastagia Palischoe, the former Premier, wouldn't endorse him. Have a
38:30
Speaker 1: look at this awkward encounter over the weekend.
38:34
Speaker 12: Seer Miles endorsement though, well, thanks for coming along today,
38:38
Speaker 12: I got.
38:38
Speaker 1: To keep going.
38:39
Speaker 4: Can we expect to see her?
38:42
Speaker 1: Not exactly a ringindorsement an hour later, Holly, obviously, after
38:46
Speaker 1: the video began being sent out on social media. The
38:49
Speaker 1: premier reached out to the Career Mail to say that
38:52
Speaker 1: of course she endorses the embattled Stephen Miles. Mister Miles
38:58
Speaker 1: would not have been happy boy behind the scene.
39:00
Speaker 11: I wouldn't have thought, Oh, nothing more bitter than a
39:03
Speaker 11: former Labor premier who was tapped on the shoulder for
39:07
Speaker 11: this bloke. I mean, I think the writing's on the
39:09
Speaker 11: wall for the ALP and Queensland. They've absolutely destroyed the
39:14
Speaker 11: state of Queensland and continue to drive its economy into
39:17
Speaker 11: the ground. It's probably the most sensible thing Anastasia Palichet's
39:21
Speaker 11: ever done by not endorsing Steven Miles. Maybe she's thinking
39:24
Speaker 11: of coming back and doesn't want to tire her own reputation,
39:27
Speaker 11: but I can't imagine anyone's out there too heavily endorsing
39:31
Speaker 11: Steven Miles except for Steven Miles. At this point in time.
39:36
Speaker 1: Darren Norton territory election, we saw obviously the Country Liberal
39:40
Speaker 1: Party not Labour sideways so much so that Labour's only
39:44
Speaker 1: going to end up. I think with about five seats
39:46
Speaker 1: you've got Queensland. Talking of Miles, there they are facing,
39:49
Speaker 1: if the polls are right, something of an electoral wipeout
39:52
Speaker 1: in a couple of months time. That's too Domino's down.
39:57
Speaker 1: How worried would the head office of the Labor Party
40:01
Speaker 1: be about those two elections going that way?
40:05
Speaker 12: Well, it's obviously not a good trend. But equally there's
40:09
Speaker 12: not a lot of upside for Labor in Queensland or
40:12
Speaker 12: Northern Territory when it comes to the next election. Frankly,
40:15
Speaker 12: the federal result in Queensland for Labor last time around
40:19
Speaker 12: was disappointing that the seats that were there to be
40:22
Speaker 12: won ended up being picked up by the Greens. And
40:25
Speaker 12: as we all know, whether it's Greens or Teals or Independence,
40:29
Speaker 12: once your seats go to those independent style candidates, it's
40:34
Speaker 12: very hard to get them back. So I think, look,
40:37
Speaker 12: it's not great, I'm not happy. I'm not going to
40:40
Speaker 12: try and sugarcoat that. But equally, the next election, they're
40:45
Speaker 12: probably not the two parts of Australia where it will
40:48
Speaker 12: be either won or lost.
40:52
Speaker 1: Holly. Speaking of the Greens, Adam Bant likes to portray
40:55
Speaker 1: himself these days as Robin Hood he was the National
41:00
Speaker 1: Press Press Club. Today is a little bit of what
41:03
Speaker 1: he promised.
41:04
Speaker 2: It's time to make the big corporations and billionaires pay
41:07
Speaker 2: their fair share of tax. Today I can announce the
41:10
Speaker 2: first of these robin Hood reforms. We're calling it a
41:14
Speaker 2: big Corporations tax. It will apply to companies with an
41:17
Speaker 2: annual turnover of over one hundred million dollars, taxing the
41:21
Speaker 2: excess profits that these companies make.
41:25
Speaker 1: Holly robin Hood dressed in green rights with a bull
41:29
Speaker 1: and arrow.
41:31
Speaker 11: I was just going to say, the only thing missing
41:33
Speaker 11: was the tights. There's certainly not an economics textbook the
41:36
Speaker 11: Greens have ever read in their life. It just their
41:40
Speaker 11: complete ignorance when it comes to basic economics is always
41:45
Speaker 11: quite a thing of beauty in its complete the extent
41:49
Speaker 11: of it is unbelievable. They have no idea. Who do
41:52
Speaker 11: they think employees Australians. You know, it's not government that
41:56
Speaker 11: creates jobs, it is business. And what they're trying to
41:59
Speaker 11: do will either destroy business here will send it off shore.
42:03
Speaker 11: We know that they would have us all living in
42:06
Speaker 11: treehouses eating mung beans and witchity grubs, and we might
42:09
Speaker 11: not be allowed to the witchity grubs anymore. But you know,
42:12
Speaker 11: I mean, these guys are just so out of touch
42:14
Speaker 11: with reality. But as Darren just made in the previous point.
42:18
Speaker 11: You know, in Queensland Labor didn't pick up seats off
42:21
Speaker 11: the coalition. Those seats that we lost in Queensland went
42:24
Speaker 11: to the Greens, and people in Australia need to really
42:28
Speaker 11: the electorate needs to have a really, really good think
42:31
Speaker 11: about what it would look like with the Greens in
42:34
Speaker 11: a minority government. Putting the Greens near the treasury benches,
42:38
Speaker 11: it's not good news for anyone in Australia.
42:41
Speaker 1: Now.
42:41
Speaker 11: Obviously I'd like to vote for the Liberal Party, and
42:45
Speaker 11: I'm sure Darren would like them to vote Labor. But
42:47
Speaker 11: this trend of not voting for a major party of government,
42:51
Speaker 11: I think runs the risk of really putting our parliament
42:56
Speaker 11: in a very precarious situation.
43:00
Speaker 1: Darren, I was quite pleased with myself tonight. I've described
43:02
Speaker 1: Adam Banders reminding me of a student living in a sharehouse,
43:06
Speaker 1: riding his bike to university and eating, as Holly just said,
43:11
Speaker 1: among being sandwiches for lunch. The Labor Party are not
43:14
Speaker 1: going to deal with the Greens, are they? Surely I
43:18
Speaker 1: think they can.
43:18
Speaker 12: Amusingly, I knew Adam Bant when he was a student
43:20
Speaker 12: at Melbourne University about thirty years ago and he was
43:23
Speaker 12: exactly as you describe, not surprisingly, but that said, look,
43:29
Speaker 12: Labor in combination with the Greens, we saw what happened.
43:33
Speaker 12: I worked in the Gillard government. We saw how popular
43:36
Speaker 12: that was with the electorate. Labor does not want to
43:39
Speaker 12: form minority government with the Greens, full stop, not now,
43:44
Speaker 12: not in the current political life.
43:46
Speaker 11: They will though if they can.
43:49
Speaker 12: Who's to say what the future holds that they do
43:52
Speaker 12: not want to And look, I'm to say it, I'm
43:54
Speaker 12: not employed by the Labor Party these days. If Labour's
43:57
Speaker 12: in minority government with the Greens, it's their last. It's
44:00
Speaker 12: really that simple. So these policies that Adam Bant is
44:05
Speaker 12: putting out, they are actually popular with younger voters in
44:09
Speaker 12: a city, people who can't afford a home, who are
44:12
Speaker 12: struggling with various parts of cost of living, and they
44:16
Speaker 12: see the big bad multinational corporations. It's like an episode
44:20
Speaker 12: of Team America. But you've got to take it on
44:22
Speaker 12: board that those people still vote and their vote is
44:25
Speaker 12: worth as much as anybody else's. At the moment, you'd
44:28
Speaker 12: have to think with their vote the Greens holding up
44:31
Speaker 12: at twelve to fourteen percent, they may not lose their
44:34
Speaker 12: lower House representation, and they will probably hold their Senate representation,
44:39
Speaker 12: so they're not going anywhere. The difficulty for the major
44:42
Speaker 12: parties is who do you deal with if you're facing
44:45
Speaker 12: minority and on what terms do you deal with them?
44:50
Speaker 1: Well said Darren, I can just imagine you and Adam
44:52
Speaker 1: sharing a bunk bed at the university in the good
44:56
Speaker 1: old days. Holly Huestarebinette, thank you very much for joining
44:59
Speaker 1: us tonight. Still to come. The inflation numbers were out today.
45:04
Speaker 1: We'll catch up with the economist Leaf and onsol and
45:08
Speaker 1: to see what it means for the crucial upcoming rates decision.
45:16
Speaker 1: Charry Marxon back with you tomorrow night. Paul Murray coming
45:18
Speaker 1: up next. CPI index release today showed that inflation needs
45:22
Speaker 1: to three point five percent in annual terms in July,
45:25
Speaker 1: down three point eight from June. Now overall, the Treasure
45:28
Speaker 1: seem pretty pleased with those results.
45:32
Speaker 10: We'd like inflation to fall further and faster, and we
45:36
Speaker 10: expect it to.
45:37
Speaker 4: What we've seen in.
45:38
Speaker 10: This data today is really quite welcoming, are quite welcome
45:42
Speaker 10: and quite encouraging.
45:45
Speaker 1: Let's bringing Macro Business Chief economist Leith van Onsel and
45:49
Speaker 1: Leith Let's start with the market predictions. It didn't quite
45:53
Speaker 1: fall as economist's forecast. What kept it a bit more sticky,
45:57
Speaker 1: do we think?
46:00
Speaker 13: Look, there was a lot of uncertainty amongst economists about
46:02
Speaker 13: today's result, really because we didn't know what the impact
46:05
Speaker 13: of the federal government's energy.
46:06
Speaker 1: Subsidies would be, so we had market.
46:08
Speaker 13: Economists predicted anything from two point seven percent to three
46:12
Speaker 13: point nine percent, So it'd ended up coming to a
46:14
Speaker 13: three point five percent, which was slightly higher than the
46:16
Speaker 13: median forecast of three point four percent. As it turned out,
46:19
Speaker 13: electricity prices in the CPI fell by six point four
46:22
Speaker 13: percent over the month, and that pretty.
46:23
Speaker 1: Much drove the result.
46:24
Speaker 13: There was some good news though, We are seeing broadening
46:28
Speaker 13: disinflationary pressures beyond energy, so Steve. The number of items
46:32
Speaker 13: in the CPI basket which had annual inflation rates below
46:36
Speaker 13: two percent actually out numbers the number of ibeans where
46:40
Speaker 13: inflation has grown above the Reserve banks target of three percent.
46:43
Speaker 13: So we are seeing some broadening disinflationary pressures, which I
46:46
Speaker 13: think is good news.
46:49
Speaker 1: It's hard thing to get your head around. I mean,
46:51
Speaker 1: petrol prices in Victoria at the moment are really low,
46:55
Speaker 1: but three weeks ago, you were paying two twenty two
46:58
Speaker 1: thirty cents a leader. Now you're paying somewhere around somewhere
47:02
Speaker 1: between dollars sixty dollars eighty. But petrol's in there.
47:04
Speaker 13: Right, Yeah, that's right mate. Petrol rents pretty much. You know,
47:09
Speaker 13: there's a whole bunch of stuff that that we paid for. Look,
47:12
Speaker 13: the Reserve Bank tends to look beyond those really volatile measures,
47:16
Speaker 13: so it looks more at things which is something called
47:18
Speaker 13: underlying inflation, and that also eased as well, So that
47:22
Speaker 13: fell to three point seven percent in July from four
47:25
Speaker 13: percent in June, and in fact, the monthly result for
47:28
Speaker 13: the underlying inflation was actually the lowest since July twenty
47:30
Speaker 13: twenty one, so we are getting some progress there in inflation.
47:34
Speaker 13: The big problem I got, Steve, though, is that the
47:36
Speaker 13: thing that's driven the fallen inflation over the last year
47:39
Speaker 13: has actually been tradable good so that's basically things that
47:42
Speaker 13: we pull off off a shipping container. Inflation there's only
47:45
Speaker 13: been at one and a half percent. The sticky part
47:48
Speaker 13: is that services inflation, or non tradable inflation, that's that
47:52
Speaker 13: domestically driven inflation, is still running at five percent and
47:55
Speaker 13: That's the thing that I think will worry the RBA
47:57
Speaker 13: because that's quite sticky. It looks like we've run our
47:59
Speaker 13: ray with tradeables. They're not going to fall below what
48:02
Speaker 13: they're at. So if we are going to bring inflation down,
48:05
Speaker 13: we need this sticky services inflation to fall. Still, no
48:09
Speaker 13: rate cut till next year, Yeah, no, absolutely not. I
48:13
Speaker 13: think we could rule out rate cuts this year. To
48:15
Speaker 13: see rate cuts, we're going to have to see one
48:18
Speaker 13: or two things. One of them is, obviously we're going
48:20
Speaker 13: to have to see inflation fall much further than it has. Otherwise,
48:23
Speaker 13: we're going to have to see unemployment rise significantly. And
48:26
Speaker 13: I don't think we'll get either of those things before
48:28
Speaker 13: the end of the year.
48:29
Speaker 1: Wow. Yeah, No one wants to see that, Leith. I
48:33
Speaker 1: agree with you completely. Thank you very much for that,
48:35
Speaker 1: my friend Leith and Nonseloin there on the issue of
48:38
Speaker 1: whether we'll get a rate cut up next Paul Murray