Latest / The Bolt Report / The Bolt Report | 5 May

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The Bolt Report | 5 May · The Bolt Report

0:10
Speaker 1: It's called boult Reform.
0:11
Speaker 2: It good evening, Welcome to the Bolt Report. I'm Steve
0:15
Speaker 2: Price filling in for Andrew Bolt. This week a week
0:18
Speaker 2: of political shocks, economic fault lines, and more cost of
0:22
Speaker 2: living pain. Coming up on the Bolt Report tonight. The
0:25
Speaker 2: Reserve Bank has predicted raised interest rates today for the
0:28
Speaker 2: third time in a row point two five percent, up
0:31
Speaker 2: to four point three to five back where we were
0:34
Speaker 2: after the cuts last year. Full reaction on all of that,
0:38
Speaker 2: plus the Victorian budget released today and leaks on next
0:42
Speaker 2: week's federal budget. We catch up with economist Leath Van Nosolens.
0:46
Speaker 2: We're on the ground in Redford and Sydney where someone
0:49
Speaker 2: thinks it's a good idea tonight to hold a so
0:51
Speaker 2: called public forum calling for Sydney siders to globalize. The
0:56
Speaker 2: INTERFATA canceled by town Hall, but going ahead. It started
1:00
Speaker 2: an hour ago. We'll take you there shortly. The US
1:02
Speaker 2: and Iran looks set to go back to war after
1:05
Speaker 2: the US Navy takes out up to seven attack boats
1:08
Speaker 2: in the straits of Hall Mills. Catch up with former
1:10
Speaker 2: Trump Press Secretary Sean Spicer plus Barnaby Joyce. There is
1:15
Speaker 2: tonight breaking news that the federal government intends to cut
1:19
Speaker 2: the length of the sixteen hundred kilometer inland rail project.
1:24
Speaker 2: We'll get to that shortly. First up, though. We are
1:27
Speaker 2: now seven days away from the federal budget and the
1:30
Speaker 2: leaks are coming on a daily basis. Thick and fast.
1:33
Speaker 2: Leaks have potentially good news, of course, of closure, because
1:37
Speaker 2: the pain of a charmer's budget under massive financial stress
1:40
Speaker 2: will be held back to the very last minute. Today
1:44
Speaker 2: it was the Australian newspaper and surprise, surprise, a cash
1:48
Speaker 2: handout in the middle of an inflation breakout so bad
1:51
Speaker 2: that it has forced the Reserve Bank today into another
1:55
Speaker 2: interest rate rise, the third one. As I said in
1:57
Speaker 2: a row, here was the treasure of this afternoon. Reacting
2:00
Speaker 2: to that rise and questions on inflation and spending.
2:05
Speaker 3: When it comes to the broader inflationary pressures in our economy,
2:09
Speaker 3: this is why our responsible budget is so important next week.
2:12
Speaker 3: The budget is not the primary driver of prices in
2:16
Speaker 3: our economy or these interest rate decisions. We know that
2:19
Speaker 3: there are inflationary pressures in our economy. We know that
2:22
Speaker 3: they are made worse by the war in the Middle East.
2:25
Speaker 3: We know that the end of that war and the
2:26
Speaker 3: recovery in the global economy is very uncertain.
2:30
Speaker 2: Of course, it's all the war's fault. Now half an
2:32
Speaker 2: hour later. In my view, the Reserve Bank Governor Michelle
2:35
Speaker 2: Bullock seems to tell a different story to Charmers and
2:39
Speaker 2: his view on inflation.
2:42
Speaker 4: The recent cash rate increases have been to address the
2:44
Speaker 4: excess demand that existed in the economy prior to the
2:47
Speaker 4: Middle East conflict. Higher fuel prices by themselves will not
2:51
Speaker 4: address this. When inflation is already too high and the
2:54
Speaker 4: economy facing capacity pressures, it doesn't take much additional spending
2:58
Speaker 4: to make the job of return inflation to target more challenging.
3:02
Speaker 4: This means spending will need to grow more slowly for
3:05
Speaker 4: a time to help restore the balance.
3:09
Speaker 2: Which she couldn't be any more blunt prior to the
3:11
Speaker 2: Middle East conflict. But i'll take you back to that league.
3:14
Speaker 2: Treasurer of Charmers is reportedly set to announce an earned
3:18
Speaker 2: income offset. What stupid jargon that is. I presume it
3:22
Speaker 2: means a handout off your taxable income of somewhere between
3:25
Speaker 2: two hundred dollars and three hundred dollars. And wait for it,
3:29
Speaker 2: this is for every person in Australia who gets a
3:32
Speaker 2: wage or a salary and pays tax, no means test
3:37
Speaker 2: and just expensive bribes, reminding me of the good old
3:41
Speaker 2: days of Kevin Rudd during the GFC giving people cash
3:44
Speaker 2: handouts that were largely spent on giant screen TVs. Now
3:48
Speaker 2: this goes against any advice from the RBA and from
3:51
Speaker 2: global ratings agencies and the IMF who have reportedly warned
3:56
Speaker 2: the Federal government about the level of spending. Both Albinizi
3:59
Speaker 2: and Charmers, I mean, it seems this is another piece
4:02
Speaker 2: of the narrative being built by the treasure and the
4:05
Speaker 2: Prime Minister. Are what they call the imbalance between labor
4:10
Speaker 2: earned income and investment income. And you can add to
4:13
Speaker 2: that the expected attack of course on negative gearing and
4:16
Speaker 2: the capital gain tax discount. Put simply, if you've worked
4:20
Speaker 2: hard all your life, you've paid tax, made enough to
4:23
Speaker 2: buy a little investment property for your retirement, you are
4:26
Speaker 2: the enemy. But if you are someone who hasn't been
4:29
Speaker 2: able to do that, big sort of big Gym's going
4:32
Speaker 2: to look after you. He's going to hand your money.
4:34
Speaker 2: I mean, here's how the Prime Minister explains the concept,
4:37
Speaker 2: calling next Tuesday's budget a labor values budget.
4:42
Speaker 5: Voters can expect that there'll be a budget that's consistent
4:45
Speaker 5: with labor values. And I've said consistently that the two
4:51
Speaker 5: themes that characterize my government are no one left behind
4:55
Speaker 5: and no one held back.
4:57
Speaker 2: I mean, seriously, what are those labor values? Giving people
4:59
Speaker 2: money for doing nothing? We can all see where this
5:02
Speaker 2: is going. If you are young, a working class battler,
5:05
Speaker 2: away journer, a renter, as opposed to a small business owner,
5:09
Speaker 2: a property investor, a landlord, you are going to be
5:12
Speaker 2: looked after the labor way. No one held back sounds
5:16
Speaker 2: suspiciously like an election slogan to me, I really get
5:20
Speaker 2: sick and tired of this voodoo economic So let's say
5:23
Speaker 2: you get the three hundred dollars as a way journer.
5:26
Speaker 2: What do labor think you're going to do with that
5:28
Speaker 2: three hundred dollars? It's what half a tank or a
5:32
Speaker 2: tank and a half of petrol, Maybe not even that
5:34
Speaker 2: if it's diesel. Maybe one supermarket visit if you've got
5:37
Speaker 2: a big family. I mean, he was Opposition leader Angus
5:40
Speaker 2: Taylor reacting to fresh questions today about capital gains and
5:44
Speaker 2: negative gearing.
5:46
Speaker 6: Now they're just going to break their promises they made
5:49
Speaker 6: before the last election.
5:50
Speaker 2: They're fraudulent, they're lying, and they're incompetent promises. Don't mean
5:54
Speaker 2: to think these days in politics. And one more piece
5:57
Speaker 2: of age discrimination in the middle of the into generational argument.
6:02
Speaker 2: Last month, three million Australians aged over sixty five years
6:06
Speaker 2: old were told by Health Minister Mark Butler that their
6:10
Speaker 2: private health insurance rebate was about to disappear. On them
6:13
Speaker 2: certainly to be cut back. It will be dropped into
6:16
Speaker 2: line with younger Australians two in Butler language, make it
6:21
Speaker 2: more equitable like this, I guess the industry says Ossie's
6:25
Speaker 2: age seventy and over with gold cover in private health
6:29
Speaker 2: insurance would see premiums jump by over twenty one percent
6:34
Speaker 2: next April, and four percent of those people age between
6:37
Speaker 2: sixty five and seventy. That works out at an increase
6:40
Speaker 2: of one thousand, six hundred and fourteen dollars for a
6:44
Speaker 2: couple over the age of seventy or eight hundred and
6:48
Speaker 2: seven dollars for a single. I'd love Mark Butler to
6:51
Speaker 2: visit my ninety one year old mother and tell her
6:54
Speaker 2: about that increase For a pensioner on a limited income.
7:00
Speaker 2: But that's the vibe folks into generational imbalance, young versus old. Okay,
7:09
Speaker 2: let's bring in National Party leader Matt Canavan. He's joining
7:12
Speaker 2: us tonight from Paul Murray's pub test in Farah in
7:17
Speaker 2: the town of Albury. Matter, I understand you there for
7:20
Speaker 2: the Paul Murray Farmer pub pub test. What's the feeling
7:23
Speaker 2: on the Groundbean? I know you're up there camping. You've
7:25
Speaker 2: been there on and off. You've been there back of
7:27
Speaker 2: there again today. How are the NETS candidate going to go?
7:32
Speaker 7: Well, look, we've got a fantastic candidate. He's had thirty
7:36
Speaker 7: years in the military. He got involved in politics for
7:39
Speaker 7: the right reasons. His wife got pretty crook a few
7:42
Speaker 7: years ago, had a tough experience with the local hospital here.
7:45
Speaker 7: The doctors and nurses are great, but the hospital services
7:47
Speaker 7: can be improved. So he wanted to run for that reason,
7:50
Speaker 7: and through his advocacy, we've announced that we'd invest one
7:53
Speaker 7: hundred million dollars into health services here in Aubury, also
7:56
Speaker 7: improve health services across the region. The other big issue
7:59
Speaker 7: in this part of the world is our farmers. Forty
8:02
Speaker 7: percent of our food comes from this area. It's a wonderful,
8:06
Speaker 7: beautiful part of our country and for too long, too
8:09
Speaker 7: much water has been taken away. When we were in government,
8:11
Speaker 7: the Liberal National Parties, we banned water buybacks, we cap those,
8:14
Speaker 7: stop those, and then labors got back in and they're
8:17
Speaker 7: taking water back again from communities. So we want to
8:20
Speaker 7: stop that again. We're going to take up the fight
8:22
Speaker 7: there on that. And look, the Nationals Party here, we
8:24
Speaker 7: haven't been here for twenty five years since the days
8:27
Speaker 7: of Tim Fisher, but we'd be a change, we'd be
8:30
Speaker 7: a changed approach here in Farah. I think people are
8:32
Speaker 7: keen for a fresh, fresh approach and our candidates definitely
8:36
Speaker 7: bringing that energy, that vibe. He's in it for the
8:39
Speaker 7: right reasons, as I said, and I said, and I'm
8:41
Speaker 7: just down here fighting because I'd love to represent this
8:43
Speaker 7: great part of our country again in the Nationals Party.
8:46
Speaker 2: Yeah, we all remember when Tim Fisher was the member.
8:49
Speaker 2: I saw Paul Murray talking to Peter Kredlin just before
8:53
Speaker 2: and she made the point and I think she's quite
8:55
Speaker 2: right that part of the problem for the National Party
8:58
Speaker 2: candidate is that you've got a big population in Aubury
9:02
Speaker 2: and then this electorate spreads right out all the way
9:05
Speaker 2: over to the South Australian border, and so it's hard
9:08
Speaker 2: for someone who gets a big vote in the city
9:11
Speaker 2: of Albury to actually win enough primary vote to win
9:14
Speaker 2: the election.
9:17
Speaker 7: Well, look, we're used to that's pretty used to that
9:20
Speaker 7: representing big, diverse electrics. In the Nationals Party, we fed
9:22
Speaker 7: very hard for these regional areas of our country. And
9:25
Speaker 7: as I said at the start, that's why a candidate
9:27
Speaker 7: who is here, an Aubrey local, served the military, ended
9:31
Speaker 7: up here, posted here years ago and loved the place
9:33
Speaker 7: and stayed here, and he wants to improve hospital services here.
9:38
Speaker 7: That's what we're about, just fixing things that country people
9:41
Speaker 7: have to.
9:42
Speaker 1: Tackle every day of the week.
9:43
Speaker 7: So here, take Aubrey here, it's the third biggest city
9:46
Speaker 7: in Inland Australia and if you get a heart attack
9:50
Speaker 7: at night, you pretty much always have to be air
9:52
Speaker 7: backed out to a capital city.
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Speaker 1: That's a disgrace, national disgrace.
9:56
Speaker 7: That in such a big city, such an important growth
9:59
Speaker 7: center of our country, that you can't have a twenty
10:02
Speaker 7: four hour cardiac center. And it's things like that that
10:05
Speaker 7: the National's Party bread and butter isn't trying to fix.
10:07
Speaker 7: It's things like that that got Brad Robinson involved in politics.
10:11
Speaker 7: It's issues like that that has has got him convinced,
10:14
Speaker 7: convinced both myself and Angus Taylor and the Liberals as
10:17
Speaker 7: well to say, if we're back in government, we're going
10:19
Speaker 7: to invest back in these health services here in Aubury
10:21
Speaker 7: because people shouldn't have to cop such a lack of
10:25
Speaker 7: service in such a big, growing regional town.
10:28
Speaker 1: We need to grow at towns.
10:29
Speaker 7: Like here, like Aubury to take the pressure off our
10:31
Speaker 7: capital cities. So investments here in the regions are good
10:35
Speaker 7: for all Australians as well, because we can't just keep
10:37
Speaker 7: stacking people up in Sydney and Melbourne.
10:40
Speaker 2: Yeah, it's a great community, a great city, Aubury, Wodonga
10:43
Speaker 2: in that whole region, northwest, northeastern Victoria and southern New
10:47
Speaker 2: South Wales. Just fantastic. Big Chris Balm was out today,
10:49
Speaker 2: our old mate slashing the EV tax discounts, which he
10:53
Speaker 2: says is going to save the government one point seven
10:56
Speaker 2: billion over five years. I hate to do this to
10:59
Speaker 2: you that, but here's Chris Bowen today.
11:01
Speaker 8: Ever, listen, the EV tax cut will continue, but will
11:04
Speaker 8: apply from the first of April twenty twenty seven to
11:06
Speaker 8: cars under seventy five thousand dollars, with lesser support for
11:10
Speaker 8: those cars between seventy five thousand and just over ninety
11:14
Speaker 8: thousand dollars. This is very sensible. When we came to office,
11:17
Speaker 8: there was no ev available for under forty thousand dollars.
11:21
Speaker 8: Now Australians do have those choices.
11:24
Speaker 2: Why are any of us subsidizing electric vehicles? If they're
11:27
Speaker 2: so fantastic and people can save money on petrol, why
11:31
Speaker 2: are we giving taxpayers money to convince someone to buy one.
11:36
Speaker 1: It's a great point.
11:37
Speaker 7: I don't know why we'd seek to subsidize those of
11:41
Speaker 7: us who have enough wealth to afford a seventy thousand
11:44
Speaker 7: or even up to as Chris said, they're a ninety.
11:46
Speaker 1: Thousand dollar car. I'man good luck to you.
11:49
Speaker 7: I want people to succeed, and it's a free country.
11:52
Speaker 7: I am happy for anyone to buy any car that
11:54
Speaker 7: they so choose. But I don't see why our taxes
11:57
Speaker 7: in environment where we're hitting a trillion dollars in debt,
12:00
Speaker 7: people are struggling that those limited tax revenues should go
12:03
Speaker 7: towards people who can afford cars. Keep in mind the
12:06
Speaker 7: reason this scheme is being cut it's been a completely
12:09
Speaker 7: failed scheme because providing an electric vehicle subsidy through the
12:15
Speaker 7: tax system has meant that the only people who really
12:17
Speaker 7: benefit are those that are on the top tax bracket.
12:20
Speaker 7: Well overhalf the people accessing the current EB scheme are
12:25
Speaker 7: in the top tax bracket, the richest among us.
12:27
Speaker 1: And it shows the priorities of.
12:28
Speaker 7: The modern labor party that they're forgetting the workers, the
12:32
Speaker 7: people that are struggling, who they used to represent, and
12:34
Speaker 7: instead not just engaging in middle class warfare.
12:37
Speaker 1: This is upper class welfare, the tax payer.
12:39
Speaker 7: Dollars going to the most well off among us, and
12:43
Speaker 7: that's all about the wrong way. I think we need
12:46
Speaker 7: to take pressure of families right now that are struggling
12:48
Speaker 7: with the cost of living. Along with those water issues,
12:50
Speaker 7: those health issues I mentioned earlier, the big issue that
12:53
Speaker 7: comes through to me door knocking and meeting voters here
12:56
Speaker 7: in Farah is the cost of living. People are really struggling,
13:00
Speaker 7: and instead this govern is going to slug us with
13:02
Speaker 7: more taxes next week. It's clearly a big taxing labor
13:06
Speaker 7: budget next week, and it's also going to be a
13:08
Speaker 7: big spending one.
13:09
Speaker 1: It's just the spending is.
13:10
Speaker 7: Going to go towards, as I say, those well off
13:12
Speaker 7: Australians who can afford a seventy thousand dollars vehicle. That's
13:16
Speaker 7: not the country I think we used to have. That's
13:18
Speaker 7: not the fair go that I think Australians agree with.
13:21
Speaker 1: But the modern.
13:22
Speaker 7: Labor Party is really just about the rich and luxury
13:26
Speaker 7: goods like trying to save the planet electric vehicles, and
13:30
Speaker 7: if they fail to focus on the tough issues that
13:32
Speaker 7: face all Australians every day.
13:35
Speaker 2: I think the other thing really worrying me about them,
13:38
Speaker 2: I said it at the beginning of the program is
13:39
Speaker 2: they seem to have set up this contest between young
13:42
Speaker 2: Australians and older Australians, this whole idea of intergenerational wealth,
13:47
Speaker 2: and they make it seem like this big clash between
13:51
Speaker 2: parents and children, grandparents and children over housing. I mean,
13:55
Speaker 2: the policies there are going to apparently announce next Tuesday
13:58
Speaker 2: night not going to help the housing levels at all.
14:02
Speaker 2: And I just hate this idea that we're fighting with
14:04
Speaker 2: all our children because our children don't think they can
14:06
Speaker 2: get to get into a house.
14:10
Speaker 7: Look, this has been the most divisive government for at
14:13
Speaker 7: least a generation. In Anthony Alberanesi's first term, he tried to.
14:18
Speaker 1: Divide Australians by race.
14:19
Speaker 7: Thankfully, Australians woke up to that trick and united to
14:24
Speaker 7: really dignit in the way we don't see it elections
14:26
Speaker 7: to defeat that division. And now we're seeking a government,
14:30
Speaker 7: seeing a government seeking us to.
14:31
Speaker 1: Divide us by age. They're doing that because seeing this is.
14:34
Speaker 7: Some kind of distraction from their own values to grow
14:37
Speaker 7: the economy. If we had a pro growth government, if
14:41
Speaker 7: we had a government that was focused on expanding the
14:44
Speaker 7: economic pie, expanding economic opportunities for young and old alike,
14:47
Speaker 7: we wouldn't have to wouldn't have to fight over the
14:50
Speaker 7: scraps of a declining economy. Keep in mind, under this government,
14:53
Speaker 7: productivity in our economy is down five percent. We've never
14:56
Speaker 7: seen a decline like that in such a short space
14:59
Speaker 7: of time. Real wages have gone back to twenty eleven levels.
15:03
Speaker 7: And so when you have this environment of scarcity that
15:07
Speaker 7: the Labor Party has imposed on us, all you do
15:10
Speaker 7: get the sort of hunger games politics that we're seeing
15:12
Speaker 7: with the budget next week, where we've all got to
15:14
Speaker 7: apparently be warring tribes and fight against each other for
15:17
Speaker 7: the limited scraps that the government's willing to offer us.
15:20
Speaker 7: I want to see a government, Australian government's offering hope,
15:22
Speaker 7: an opportunity, a reward for Australians. We have a great
15:25
Speaker 7: country with so many resources. We should not have to
15:30
Speaker 7: a settle for the low expectations this government's putting on
15:32
Speaker 7: this nation. We should be aiming high, we should be
15:34
Speaker 7: growing and then there'll be plenty for all Australians, including
15:37
Speaker 7: young Australians, to have.
15:40
Speaker 6: Well.
15:40
Speaker 2: They well said, and let's hope it's an inspirational night
15:43
Speaker 2: at the pub jest tonight. It was a pleasure, Matt Canavan,
15:45
Speaker 2: thank you very much for that. Coming out after the break.
15:48
Speaker 2: There is an event on in Sydney tonight that even
15:51
Speaker 2: Clover Moore, the Lord Mayor of Sydney, tried to cancel.
15:54
Speaker 2: It's a pro Palestinian turnout. We'll talk to our reporter
15:57
Speaker 2: Matt Taylor on the ground. Welcome back. Catch up with
16:05
Speaker 2: Leithan Nonsen in the moment about the economics of the
16:08
Speaker 2: day budget in Victoria and the leaks in the federal budget.
16:11
Speaker 2: But I want to take you to Sydney now. There's
16:13
Speaker 2: a pro Palestineian event called why it's okay, why it's right,
16:17
Speaker 2: why it's our right to say globalize the interfada. It's
16:22
Speaker 2: underway in Sydney right now at the Charles Kieran Reserve
16:25
Speaker 2: that's in Darlinghurst. After Sydney Lord Mayor Clover Moore said
16:29
Speaker 2: well you're not going to have it here. The Stop
16:32
Speaker 2: the War on Palestine event is being organized by that
16:36
Speaker 2: organization on the ground there. For Sky News is senior
16:39
Speaker 2: reporter Matt Taylor. Matt, how many people have turned up
16:41
Speaker 2: and what have they been doing?
16:45
Speaker 1: Hi?
16:45
Speaker 9: They stave about two hundred people turning up to this event,
16:48
Speaker 9: still on going, being under way for about an hour
16:50
Speaker 9: or so. You can see behind me. It's quite dark
16:52
Speaker 9: here in the park, but you can see behind me
16:54
Speaker 9: what these protesters are talking about, why it's right to
16:58
Speaker 9: say globalize the Infantivada. And they've essentially been saying that
17:03
Speaker 9: the phrase is largely misunderstood and has been mischaracterized, and
17:07
Speaker 9: it is a call to and violence of Israel's occupation
17:11
Speaker 9: rather than an incitement of harm.
17:14
Speaker 10: Now you're right.
17:14
Speaker 9: Clovermore did cancel this event that was due to be
17:17
Speaker 9: held at a City of Sydney venue tonight. She did
17:20
Speaker 9: that late yesterday, saying that it was not the right
17:22
Speaker 9: time and that the event could have potentially incited violence,
17:25
Speaker 9: especially at a time when the Royal Commission is underway
17:28
Speaker 9: into of course, anti Semitism and social cohesion. The organizers
17:33
Speaker 9: then moved it to this reserve just down the road
17:35
Speaker 9: from where the event was meant to be held in
17:37
Speaker 9: Darlington near Redfern.
17:39
Speaker 11: Here in inner city Sydney.
17:40
Speaker 9: But there have been a number of speakers, including a
17:43
Speaker 9: local Sydney councilor, but also a Gaza AID activist. This
17:47
Speaker 9: was someone that was on one of those ships, one
17:50
Speaker 9: of the flotilla that was trying to drop off aid
17:52
Speaker 9: in Gaza, and he got quite a reception. Since returned
17:56
Speaker 9: to Australia, he claims that he was detained and treated
17:59
Speaker 9: poor by the IDF And this is a sense of
18:02
Speaker 9: some of what he had to say to the group
18:04
Speaker 9: small about two hundred that's been gathered here this evening.
18:08
Speaker 7: I was reminded in a really stark way of what
18:11
Speaker 7: this popular is about.
18:12
Speaker 1: It's beautiful people, hundreds and hundreds.
18:15
Speaker 7: Of beautiful people, all of whom speak different languages, come
18:18
Speaker 7: from different places, carry different cultures and histories, but all
18:23
Speaker 7: share a set of principles and all share one goal, which.
18:26
Speaker 1: Is to break the siege and to get aid to gather.
18:32
Speaker 9: Of course, lots of debate hereover whether or not it
18:35
Speaker 9: is okay or whether or not it is right to
18:37
Speaker 9: say globalize the interfata. Those chants have rung out throughout
18:41
Speaker 9: the course of the proceedings here, as have other phrases
18:44
Speaker 9: that are potentially being banned in New South Wales, such
18:48
Speaker 9: as from the River to the Sea and now chris
18:50
Speaker 9: Min's the News Southwald's premier was asked about this event.
18:53
Speaker 9: He said he welcomed clover All the Sydney Lord Meh's
18:56
Speaker 9: decision to cancel this event, but that he was still
18:59
Speaker 9: concerned that it was going ahead in one form or another.
19:02
Speaker 9: This was Chris Minn speaking earlier today.
19:04
Speaker 10: Look, I am concerned about it.
19:06
Speaker 6: I've made it really clear that I think that phrase,
19:09
Speaker 6: that phraseologies is antithetical to the kind of community that
19:15
Speaker 6: we want to live in and my senses that a
19:19
Speaker 6: call to globalize the intervada is a call to globalize
19:23
Speaker 6: violent uprising, which is the opposite of what we want
19:26
Speaker 6: to have in New South Wales.
19:28
Speaker 9: New South Wales state opposition leader saying that she would
19:31
Speaker 9: go further and propose some new laws that would allow
19:34
Speaker 9: the Premier and the government to be able to outright
19:37
Speaker 9: cancel events like this.
19:39
Speaker 12: We'll be introducing amendments in Parliament to make sure that
19:42
Speaker 12: the Premier and his government has the powers they need
19:46
Speaker 12: to cancel antisemitic events in future. It is the least
19:50
Speaker 12: we can do for a community that is under siege
19:53
Speaker 12: at the moment, that is suffering immense hate, an immense persecution,
19:59
Speaker 12: particular at this time when we are seeing people and
20:02
Speaker 12: individuals appearing before the Royal Commission.
20:06
Speaker 9: So Steve, as we said, around about two hundred people
20:09
Speaker 9: or so here, a large police presence as well. We'll
20:12
Speaker 9: see when things wrap up how that transpires. But the
20:15
Speaker 9: event's been under way for about an hour or so
20:17
Speaker 9: now due to wrap up shortly.
20:20
Speaker 2: Good on you, Matt, thank you for that. I must
20:21
Speaker 2: agree with Christopher Mins and Kelly Sloan. There Budget Day
20:26
Speaker 2: today in Victoria and of course Interest in Interest Rate
20:29
Speaker 2: Day as well. Plus we're a week out now from
20:31
Speaker 2: the federal budget next Tuesday night Sky's special with all
20:34
Speaker 2: of the experts covering that. Joining me now, Macro Business
20:39
Speaker 2: Chief Economist Leith van Onslan Leith, great to see you.
20:43
Speaker 2: Interest rate decision three rises in a row takes us
20:46
Speaker 2: back to where we were in November twenty twenty four.
20:50
Speaker 2: Does that say that the Reserve Bank got it wrong
20:53
Speaker 2: back then?
20:55
Speaker 11: Absolutely?
20:55
Speaker 13: The Reserve Bank got it wrong. Look, look they did
20:58
Speaker 13: misjudge it. They cut rates when they probably shouldn't have,
21:01
Speaker 13: and as a result they're now reversing course and they've
21:04
Speaker 13: lifted it back to where they were. And based on
21:07
Speaker 13: their hawkish commentary today as well as the financial market forecast,
21:10
Speaker 13: we're likely to get possibly another two rate hikes this year,
21:13
Speaker 13: which would take us to an eighteen year high.
21:15
Speaker 11: Steve, So it's not.
21:16
Speaker 2: Good had a couple of senior banks is dancing around
21:21
Speaker 2: the word recession today, Leith. Is it too early to
21:25
Speaker 2: be starting talking about that? I mean, I hope it's
21:29
Speaker 2: too early. But what's your view on that?
21:31
Speaker 11: Oh?
21:31
Speaker 13: Look, I think there's a very high chance of recession.
21:33
Speaker 13: So we've got consumer and business confidence are both tracking
21:36
Speaker 13: at the historical lows, even worse than the depth of
21:39
Speaker 13: the COVID pandemic. Obviously, we've got the global energy shock,
21:42
Speaker 13: which is likely to get worse before it gets better.
21:44
Speaker 13: Treya still faces the prospect of high fuel costs as
21:47
Speaker 13: well as diesel shortages, all those sorts of things. And
21:51
Speaker 13: you know, honestly, Steve, I think a per capita recession
21:53
Speaker 13: is one hundred percent guaranteed, and a headline recession that's
21:56
Speaker 13: you know, two consecutive quarters of negative GDP growth is
22:00
Speaker 13: very likely at this point. Not sure when, but you know,
22:02
Speaker 13: certainly over the next six months, maybe nine months.
22:06
Speaker 2: I thought it was really interesting that Jim Charmers and
22:09
Speaker 2: the Reserve Bank head Michelle Bullock completely different arguments about
22:14
Speaker 2: what's driving inflation. Here's Jim Charmers saying it's all about
22:18
Speaker 2: the war. Well, that's what he said, and then of
22:23
Speaker 2: course Michelle Bullock comes out at her briefing and says, well,
22:26
Speaker 2: the inflation was built in into the economy already, that
22:31
Speaker 2: it happened before the war started.
22:34
Speaker 11: Yeah, I mean, obviously it's a bit of both.
22:35
Speaker 13: So before the war even started, the core inflation was
22:39
Speaker 13: tracking fair and above the RBA's target, So obviously about
22:42
Speaker 13: a problem.
22:42
Speaker 11: We've got record government spending those sorts of things.
22:45
Speaker 13: Then obviously the war in the Middle East is just
22:46
Speaker 13: at the cherry on top, so you know, it's basically
22:49
Speaker 13: a double whammy, and this is why we're going to
22:51
Speaker 13: This is why I was seeing three rate hikes in
22:52
Speaker 13: a row, and we're likely to see you know, possibly
22:54
Speaker 13: two more by the end of the year.
22:57
Speaker 2: We saw the Australian newspaper got a drop today or
23:00
Speaker 2: they managed to get a leak about this idea of
23:02
Speaker 2: an income offset whatever that actually means over between two
23:06
Speaker 2: hundred and three hundred dollars, non means tested, So everyone
23:09
Speaker 2: including me is going to get it. And you leath Now,
23:13
Speaker 2: if you're paid a wage and you pay tax, then
23:15
Speaker 2: you're going to get two or three hundred dollars. Doesn't
23:17
Speaker 2: that go exactly against what the IMF and the ratings
23:21
Speaker 2: agencies are saying governments should be doing. That they should
23:24
Speaker 2: not be fueling inflation by doling out money.
23:26
Speaker 6: Yeah.
23:27
Speaker 13: Absolutely, So we've got a burnout economy here, Steve. Whereby
23:30
Speaker 13: the RBA's got his foot planted on the break raising
23:32
Speaker 13: interest rates, desperately trying to slow the economy and trying
23:35
Speaker 13: to slow inflation, while the federal government's got his foot
23:38
Speaker 13: on the accelerator, spending big handout money, et cetera. So
23:41
Speaker 13: the last thing the RBA needs is for the federal
23:43
Speaker 13: government to be handout money to tax payers to spend,
23:45
Speaker 13: because doing so is just going to drive up demand
23:47
Speaker 13: and also inflation.
23:48
Speaker 11: It's the wrong approach.
23:51
Speaker 2: You always have a very unique way of looking at it,
23:54
Speaker 2: looking at changes in policy. This capital gains tax discount
23:59
Speaker 2: potentially being dropped and maybe the grandfathering even of negative gearing.
24:05
Speaker 2: What do you think that will do to rents and
24:08
Speaker 2: the property market?
24:09
Speaker 13: Yeah, look, I think it'll put some mild downward pressure
24:12
Speaker 13: on prices, But for the rental market, I don't think
24:13
Speaker 13: it'll do much at all, for the simple reason that
24:17
Speaker 13: even if investors were to sell.
24:18
Speaker 11: Up those properties don't disappear.
24:20
Speaker 13: Investors will then sell them and they'll be bought by
24:22
Speaker 13: own occupiers, including first home buyers, So it could reduce
24:26
Speaker 13: rental supply but also reduce rental demand. And look, the
24:29
Speaker 13: property lobby, to be fair, hasn't been that doesn't seem
24:32
Speaker 13: too concerned about them. Their proposed changes to capital gains
24:35
Speaker 13: tax that we're basically going to go back to the
24:38
Speaker 13: pre nineteen ninety nine method of indexing. And also there's
24:41
Speaker 13: some rumors that the federal government's going to keep negative
24:43
Speaker 13: gearing for newly constructed constructed buildings which means that we'll
24:47
Speaker 13: actually could see some more supply. So I don't think
24:50
Speaker 13: it's going to have much impact on the rental market.
24:52
Speaker 13: The biggest driver of rents, Steve, is actually immigration. The
24:55
Speaker 13: government's running a mass immigration policy that's driving up rents
24:58
Speaker 13: obviously in driving down rental vans, he rates, the best
25:01
Speaker 13: cure for that is the cut immigration.
25:05
Speaker 2: Now, Leith, I can see you're sitting down. I'm very
25:07
Speaker 2: pleased about that. I hope you're sitting down. The Victorian
25:10
Speaker 2: Treasurer Jacqueline Simes, who I believe has got a law degree,
25:14
Speaker 2: handed down her Victorian budget today, haven't listened to what
25:18
Speaker 2: she had to say before delivering the budget in Parliament today.
25:23
Speaker 14: Being in surplus means that we don't borrow to pay
25:27
Speaker 14: for wages, programs, depreciation. We only borrow for infrastructure. Borrowing
25:32
Speaker 14: for infrastructure is what a strong economy needs. It is
25:37
Speaker 14: an unexpected, unrealistic expectation for current taxpayers to put the
25:42
Speaker 14: entire bill for generational infrastructure projects that future generations get
25:47
Speaker 14: to benefit from. That is a responsible way of doing
25:51
Speaker 14: government and others.
25:52
Speaker 11: Some people disagree with that.
25:53
Speaker 15: Some people do.
25:54
Speaker 14: But the alternative is you don't build infrastructure.
25:58
Speaker 2: I don't speak economic gobbledegoog leath. Can you unscramble that
26:02
Speaker 2: word salad for me?
26:04
Speaker 11: Look, it's pure gas lighting.
26:05
Speaker 13: So the biggest expense in the Victorian government is actually
26:08
Speaker 13: bureaucrats or public servants, and those numbers have absolutely exploded
26:13
Speaker 13: under labor as well. If you actually look at the
26:15
Speaker 13: infrastructure projects that they're doing, like the suburban rail loop,
26:18
Speaker 13: a lot of most of them are garbage, their over budget,
26:21
Speaker 13: they're years behind, and they're going to cost us a
26:23
Speaker 13: small fortune. The fact of the matter is, Steve, unfortunately
26:26
Speaker 13: I live in Victoria. We've become an economic sinkhole. We're overregulated,
26:30
Speaker 13: we're over taxed, we're droughted in debt, and we really.
26:33
Speaker 11: Have no competitive advantages over other states.
26:35
Speaker 13: And as a result, the interest, the interest annual interest
26:39
Speaker 13: bill for a Victorias is projected to a rise to
26:41
Speaker 13: about ten point six billion dollars by twenty twenty nine.
26:44
Speaker 13: And what that equates to is fourteen one hundred dollars
26:48
Speaker 13: a year for every man, woman, and child in Victoria
26:50
Speaker 13: will be paying just in debt and debt repayments or
26:53
Speaker 13: interest repayments. And that's money that we can't spend at hospitals,
26:56
Speaker 13: schools and all these other things.
26:57
Speaker 11: So it's pure gas lighting.
27:00
Speaker 2: Twenty eight million dollars a day we're paying just to
27:04
Speaker 2: pay the interest on the debt. And yet in the
27:06
Speaker 2: last three weeks you've had a premier to send her
27:09
Speaker 2: Allen who's been in office in Victoria as a minister
27:14
Speaker 2: for twelve years, wanting to get re elected for another
27:17
Speaker 2: four She's run around in the last two weeks as
27:20
Speaker 2: you were to seen Leith spraying around eight point two
27:24
Speaker 2: billion dollars in election sweetness. I mean, give us a break.
27:29
Speaker 11: Yeah, when's it going to stop, Steve?
27:30
Speaker 13: I mean, you know the net debt's supposed to know,
27:33
Speaker 13: is forecast to go to nearly two hundred billion dollars.
27:35
Speaker 13: We've got all the global credit rating agens. He's threatened
27:38
Speaker 13: us with downgrades. We've already got the lowest credit rating
27:40
Speaker 13: in the country. Where is this going to end? I mean,
27:44
Speaker 13: if we get further credit rating downgrades, we're going to
27:46
Speaker 13: just interest bill is just going to spike even more.
27:48
Speaker 13: We're going to be more overburdened by this debt. This
27:51
Speaker 13: is an absolute disaster this government, and they need to
27:53
Speaker 13: be booted out fast.
27:55
Speaker 2: One hundred percent. Agree one hundred percent with everything you said.
27:58
Speaker 2: Thanks Leith. Good to catch up the elitean nonslin. There
28:01
Speaker 2: still to come. After the break, I'll catch up with
28:03
Speaker 2: Sean Spicer, former Press Secretary to Donald Trump. He'll join
28:06
Speaker 2: me to take a look at the latest from the
28:08
Speaker 2: Iran war in the Middle East, including how the Islamic
28:11
Speaker 2: Republic is targeting ships and Trump ally Rudy Giuliani's achievements
28:16
Speaker 2: praised as he's still in hospital, very sick with pneumonia.
28:24
Speaker 2: Come back. I want to get an update now on
28:25
Speaker 2: the latest situation in the Middle East. Overnight, US forces
28:29
Speaker 2: say that they have sunk at least seven of those
28:31
Speaker 2: Iranian military so called fast boats after they tried to
28:35
Speaker 2: interfere in President Trump's plan to escort civilian ships through
28:39
Speaker 2: the Straits of Hulmus. The US says that several commercial
28:42
Speaker 2: ships have now left the strait, but the UAE says
28:46
Speaker 2: it's defending itself because overnight Iran fired missiles and drones
28:50
Speaker 2: at the UAE itself. Joining me now, Andrew bolt regular
28:54
Speaker 2: form a White House Press Secretary to Donald Trump. Shawn Spicer, Sean,
28:58
Speaker 2: great to see you again. I mean, do you get
28:59
Speaker 2: a sense that we are on the edge again of
29:03
Speaker 2: perhaps this conflict surging.
29:07
Speaker 16: I think that's what's likely to happen, Steve. I mean,
29:10
Speaker 16: the President gave a Ran an option and a way forward,
29:13
Speaker 16: and it doesn't look like they're taking it. Them coming
29:16
Speaker 16: after these US ships with the fast boats, making demands,
29:21
Speaker 16: not trying to find a way forward for peace. I
29:24
Speaker 16: frankly wasn't so sure it was ever going to work
29:26
Speaker 16: out to begin with. I believe that the only path
29:28
Speaker 16: forward is the President to use strength and get a
29:31
Speaker 16: Ran back to the table, and if not back to
29:34
Speaker 16: the table, then ultimately insist on resume change.
29:39
Speaker 2: A couple of things happening here. Iran seems very very
29:41
Speaker 2: good shown at misinformation. I mean, they are pouring out
29:46
Speaker 2: information about the state of the nation in Iran inside
29:50
Speaker 2: which you just can't believe. And they all seem seem
29:53
Speaker 2: very good at using drones and these fast boats because presumably,
29:58
Speaker 2: as President Trump tells us, I've got no a fools,
30:01
Speaker 2: They've got nine ivy that's all they've got lived.
30:04
Speaker 10: That's right. I mean, here's the reality.
30:06
Speaker 16: The people who insure the ships, not just the ship
30:10
Speaker 16: drivers themselves or the ship owners, the marks and the
30:13
Speaker 16: MSCs of the world. But the people who actually ensure
30:16
Speaker 16: the ship and the cargo are going to be hesitant
30:18
Speaker 16: to allow that cargo to move forward out of the
30:20
Speaker 16: strait if they feel like they're under threat.
30:23
Speaker 10: And those fast boats, you know, may not be much.
30:26
Speaker 16: The drones aren't much either in terms of their overall
30:30
Speaker 16: capabilities and their size, but they are a threat, make
30:34
Speaker 16: no mistake about it, to both the integrity of the
30:36
Speaker 16: hull of that ship and to the crew and obviously
30:39
Speaker 16: to the cargo.
30:40
Speaker 10: And so what's going to happen is the insurers are
30:42
Speaker 10: going to.
30:43
Speaker 16: Tell the ship owners that they won't feel comfortable ensuring
30:47
Speaker 16: them as long as those fast boats and drones pose
30:50
Speaker 16: a threat to the merchandise, the crew, and the integrity
30:53
Speaker 16: of the ships themselves. So while not big, while not
30:57
Speaker 16: like a ship with weaponry on them, they are enough
30:59
Speaker 16: to cause chaos in that area.
31:03
Speaker 2: Sean, I want to tap into your ability to read
31:05
Speaker 2: the national mood in the United States. I mean, that's
31:08
Speaker 2: your talent. If you were still advising the president, I mean,
31:12
Speaker 2: what would you be telling the president about Americans the
31:17
Speaker 2: population's appetite for keeping going in this conflict.
31:21
Speaker 16: It's a great question Steve. I mean the Americans two things. One,
31:25
Speaker 16: we're very shortsighted and sometimes focused on the dollar and
31:29
Speaker 16: the bottom line. But at the end of the day,
31:31
Speaker 16: we also care about the safety and security of our
31:33
Speaker 16: nation and the safety and security of our troops stationed forward.
31:37
Speaker 10: And so my advice to the President would be.
31:40
Speaker 16: To make sure that they continue to reiterate as often
31:43
Speaker 16: as possible the ultimate goal, which is to make sure
31:46
Speaker 16: that Iran doesn't pose a threat to us and the
31:49
Speaker 16: damage that they've inflicted on us, our service members, and
31:52
Speaker 16: our capabilities previously, so that everyone understands with its stake,
31:56
Speaker 16: because I think too many times we don't feel the
32:00
Speaker 16: urgency because it's happening overseas. It's not we don't have
32:04
Speaker 16: boots on the ground. But the President, make no mistake
32:07
Speaker 16: about it, is taking out a threat that Iran has
32:11
Speaker 16: been making over and over again to our nation. And
32:15
Speaker 16: I think he just needs to remind the American people
32:17
Speaker 16: of what the ultimate goal is here.
32:21
Speaker 2: Yeah, keep using the word nuclear. I think it would
32:23
Speaker 2: be a good idea. I want to pivot Sean if
32:25
Speaker 2: I can.
32:26
Speaker 1: Well.
32:26
Speaker 2: He learned yesterday about a serious health scare for former
32:29
Speaker 2: New York mayor Rudy Giuliani overnight, some good news. He's
32:32
Speaker 2: now stable and not in such a bad way. His
32:36
Speaker 2: impact on New York in the late eighties and then
32:39
Speaker 2: after September eleventh, this is a giant of an American,
32:42
Speaker 2: a man who really has had a massive impact in
32:45
Speaker 2: your country, isn't he Absolutely?
32:48
Speaker 10: I mean, he's coined the term America's Mayor.
32:52
Speaker 16: I think a lot of people in the last few
32:53
Speaker 16: years associate him with the legal advice that he has
32:56
Speaker 16: shared with President Trump, but before that, obviously not eleven,
33:00
Speaker 16: and his leadership in the wake of that horrible, horrible
33:03
Speaker 16: tragedy is something that brought the nation together, and he
33:06
Speaker 16: was an icon in America, someone who showed us what
33:08
Speaker 16: leadership looked like and preparedness look like. But even before that, Steve,
33:12
Speaker 16: you know, not just as mayor in terms of how
33:14
Speaker 16: he dealt with crime, but before that, as a prosecutor
33:18
Speaker 16: for the Southern District of New York, what he did
33:20
Speaker 16: to take on the mob and clean up and make
33:23
Speaker 16: New York safer well before he ever became mayor is
33:26
Speaker 16: something that you know, there's documentaries that are fascinating about
33:30
Speaker 16: Rudy Giuliani's leadership when it came to organized crime and
33:33
Speaker 16: how he addressed it as a prosecutor.
33:36
Speaker 2: I can't tell you showing the number of times I've
33:38
Speaker 2: quoted in the media here, why doesn't our government do
33:43
Speaker 2: with Giuliani. Why don't we crack down on the broken
33:47
Speaker 2: windows that that whole concept of if you stop crime
33:50
Speaker 2: at the base, you're gonna then prevent it getting much
33:53
Speaker 2: much worse.
33:55
Speaker 16: Absolutely, look what Juliani did in terms of cleaning up
33:59
Speaker 16: New York phenomenal Like he took a Times Square district
34:03
Speaker 16: that had been replete with crime, made it much safer
34:05
Speaker 16: to be able to walk around. But he started with
34:07
Speaker 16: that basic theory, the broken windows theory that if if
34:10
Speaker 16: you take the most small aspect of crime and address it,
34:14
Speaker 16: then it won't lead to bigger crime.
34:17
Speaker 10: And he tackled it head on.
34:18
Speaker 16: New York became a much safer place, and I think,
34:21
Speaker 16: frankly to the extent that it is the beautiful city
34:24
Speaker 16: that it is today despite.
34:25
Speaker 10: What Zora Mundami's doing to it.
34:27
Speaker 16: I don't think New York would be where it is
34:29
Speaker 16: today without the leadership of Giuliani back in those times
34:33
Speaker 16: when he served as mayor.
34:35
Speaker 2: Speaking of the legal industry in the United States US
34:40
Speaker 2: Attorney for DC, Janine Pirot, who we know will blasted
34:45
Speaker 2: a judge, someone by the name of Zia Farruki. After
34:48
Speaker 2: this judge apologized, of all things to the blog trying
34:51
Speaker 2: to assess a President Trump and he's Tom It's just
34:54
Speaker 2: you know, over a week ago we see the pitches
34:56
Speaker 2: of him storming through that security firing his weapon. The
35:00
Speaker 2: judge says, whatever you've been through, I apologize for the
35:04
Speaker 2: prior awake. He's hauledly accused and as piro says, welcome
35:08
Speaker 2: to Washington, DC. What the hell's going on with this judge?
35:13
Speaker 10: I'm so glad.
35:14
Speaker 16: It's funny, Steve, you realize that you now have spent
35:18
Speaker 16: more time addressing this issue than the American media. So
35:22
Speaker 16: congratulations to you and the folks in Australia for taking
35:26
Speaker 16: on an issue that the US media is hiding from us.
35:29
Speaker 10: How absolutely pathetic.
35:30
Speaker 16: I mean, you think about the number of people who
35:33
Speaker 16: have dealt with DC jails, and I'm sure that they
35:36
Speaker 16: are from what everything I know about him. That's not
35:38
Speaker 16: a place that anyone wants to spend ten minutes, never
35:40
Speaker 16: mind ten days or ten years. But no one's ever
35:43
Speaker 16: cared about those people.
35:44
Speaker 10: Before.
35:44
Speaker 16: And the first person who gets an apology is the
35:47
Speaker 16: guy that not only tried to assassinate President Trump, but
35:50
Speaker 16: in his manifesto makes it clear that he was going
35:53
Speaker 16: to kill anybody in that ballroom because he felt as
35:56
Speaker 16: though they were complicit.
35:57
Speaker 10: So I just got it.
35:58
Speaker 16: The thing that I find so mind blowing is that
36:02
Speaker 16: that room was filled of journalists and they don't even
36:06
Speaker 16: seem to mind this judge saying apologizing for the conditions
36:10
Speaker 16: that this guy that wanted to kill all of them,
36:12
Speaker 16: or potentially kill all of them, and yet he's apologizing
36:16
Speaker 16: to the criminal. By the way, this is just a
36:18
Speaker 16: weak up call of everything that is wrong right now
36:21
Speaker 16: in America. These are the kind of people that are
36:24
Speaker 16: in too many positions of power throughout our government.
36:28
Speaker 2: Yeah, same things happened here, just purely goes Sean. I mean,
36:31
Speaker 2: talking about security, were here today, US Secret Service have
36:34
Speaker 2: had to fire on with a gun near the White House.
36:38
Speaker 2: More detail now coming through that Vice President jd Vance's
36:41
Speaker 2: modicate went past that spot not long after this happened.
36:45
Speaker 2: So there's another man with another gun near the White House.
36:49
Speaker 2: I mean, and then you've got judges worrying about the
36:52
Speaker 2: conditions in jail of someone. I mean, the security of
36:55
Speaker 2: the president, the vice president, and the whole administration has
36:59
Speaker 2: to be looked at, doesn't it.
37:02
Speaker 16: Oh, I don't even know where to start with this story.
37:04
Speaker 16: You're right, I mean the security of the president. Now,
37:06
Speaker 16: you know, I don't know what his intent was, but
37:08
Speaker 16: obviously he was near the White House, the President was there.
37:12
Speaker 10: The Secret Service handled it really well.
37:14
Speaker 16: But this just goes to show, I think, at least
37:17
Speaker 16: from what we've been led to believe, another example of
37:20
Speaker 16: the left being radicalized to take out the president because
37:23
Speaker 16: they believe that he's a threat. Now I don't know
37:25
Speaker 16: all the motives of this guy. Will have to wait
37:28
Speaker 16: and see what this comes out. But this is a
37:29
Speaker 16: problem now, I mean to your point you juxtaposed this
37:32
Speaker 16: with the judge. They are talking about how bad the
37:34
Speaker 16: conditions are for this man that wanted to kill people.
37:37
Speaker 16: Another man radicalized clearly as well, because anybody who seeks
37:40
Speaker 16: to kill another human being, you know, clearly has something
37:44
Speaker 16: wrong with him.
37:46
Speaker 2: Sewan, I was going to catch up, thank you, Mite
37:48
Speaker 2: toalk you soon.
37:49
Speaker 10: Good to see if Dave, thank you.
37:53
Speaker 2: How good showing spots are fantastic. I'm going to talk
37:56
Speaker 2: to Bonnaby Joyce in the moment a life breaking story
37:58
Speaker 2: today in regard to lib planned to slash the lengthen
38:01
Speaker 2: cost of the tri state inland rail project. And we'll
38:06
Speaker 2: take a look at Tay two of the Anti Semitism
38:08
Speaker 2: Royal Commission with our panel tonight. Welcome back. Now, as
38:15
Speaker 2: I mentioned at the start of the program, the Australian
38:17
Speaker 2: newspaper late today is reporting that the government, the Federal
38:21
Speaker 2: Government intends slashing the length and cost of the long
38:24
Speaker 2: running plan for an inland rail link running from Victoria
38:28
Speaker 2: to Queensland all the way through regional New South Wales.
38:31
Speaker 2: Now the often lorded freight corridor will no longer run
38:35
Speaker 2: sixteen hundred kilometers according to this report, but for some
38:38
Speaker 2: reason it's now going to stop in the New South
38:40
Speaker 2: Wales town of Parks. Now, this project has long been
38:44
Speaker 2: a passion for One Nation's Barnaby Joyce, all the way
38:46
Speaker 2: back to his time as Deputy Prime Minister and National's leader.
38:50
Speaker 2: At first glance, to me, this decision seems more of
38:54
Speaker 2: a deliberate slap at the One Nation defector than a
38:57
Speaker 2: sensible transport pivot to be, Joyce joins me. Now, am
39:02
Speaker 2: I right.
39:04
Speaker 17: Steve, it's most ridiculous thing and terribly sad for our nation.
39:08
Speaker 17: You can't have an inland rail that goes from Melbourne
39:10
Speaker 17: to Brisbane and stops at Parks. I mean, what are
39:13
Speaker 17: you going to do after that but put them on donkeys.
39:15
Speaker 17: Now we have two inland rails. We've got one that
39:17
Speaker 17: goes from basically Newcastle to north Star, a town of
39:21
Speaker 17: about one hundred and two hundred people in northern New
39:24
Speaker 17: South Wales, and another one that goes from Melbourne to Parks.
39:28
Speaker 17: We've actually think about this guy's in low Party. You've
39:31
Speaker 17: actually got to connect the two up to get to Brisbane. Now, Steve,
39:36
Speaker 17: just recently we had an we've got an oil crisis
39:38
Speaker 17: and our biggest concern was the apparent stopping of trucks
39:42
Speaker 17: of diesel trucks that move your groceries around. So what
39:45
Speaker 17: would be a great mitigant to that to try and
39:48
Speaker 17: give us some more security. Could it possibly be a
39:52
Speaker 17: rail line where the trains are up to three point
39:54
Speaker 17: two kilometers long moving between our two big, second and
39:58
Speaker 17: third biggest city so we can actually move that product around.
40:02
Speaker 18: So what do they do in the middle of an
40:03
Speaker 18: oil crisis? They get rid of it.
40:05
Speaker 17: One of our greatest medicans to actually deal with an
40:08
Speaker 17: oil crisis. And they say, we're moving to electric trucks,
40:11
Speaker 17: as idiotic as that is.
40:13
Speaker 18: And then they say, oh, we believe.
40:14
Speaker 17: They're so worried about the climate cult, about climate change,
40:17
Speaker 17: climate change, so instead of moving things on steel with locomotives,
40:23
Speaker 17: they prefer to he is, tens of thousands of trucks
40:26
Speaker 17: on the road to do the job instead. So they
40:29
Speaker 17: can find the money for the swindle factories, the intermittent
40:31
Speaker 17: power precincts of solar and wind. They're quite happy with
40:34
Speaker 17: the biggest catastrophe in construction in the globe, snow Hydro
40:38
Speaker 17: two point zero got from two billion to forty billion
40:42
Speaker 17: forty two billion and growing.
40:44
Speaker 18: They can find the money for that.
40:46
Speaker 17: But when we actually have an asset such as the
40:49
Speaker 17: inland rail as part of the aartc which actually makes
40:52
Speaker 17: money for Australia, actually makes money, well no, they can't
40:56
Speaker 17: see the.
40:57
Speaker 18: Vision of that.
40:58
Speaker 17: So why not just kick para and guts just before
41:00
Speaker 17: the election and shut it down.
41:04
Speaker 2: What happens when the trains get the parks?
41:09
Speaker 18: God only knows, Steve, what are you going to do?
41:11
Speaker 18: See later? Your train in Melbourne. You've got like three
41:15
Speaker 18: kilometers of carriages.
41:16
Speaker 17: You get over to parks and I don't know, just
41:20
Speaker 17: hope the people in parks are bloody hungry because they've
41:22
Speaker 17: got a lot to eat, they've got a lot to do,
41:24
Speaker 17: they've got a lot of It.
41:26
Speaker 18: Just doesn't stack up. That's what happens.
41:28
Speaker 2: And you know we've got Look, we've got infants, we've
41:32
Speaker 2: got infrastructure projects around the country. You know, in places
41:35
Speaker 2: like Victoria with no business plan right none, no business
41:38
Speaker 2: plan at all, taking people from somewhere they don't want
41:41
Speaker 2: to be, somewhere that don't want to go. And yet
41:43
Speaker 2: this thing's been planned, budgeted for, it's part of it's
41:46
Speaker 2: been constructed. What what do you think this is about? Really,
41:53
Speaker 2: it's about it's about panic economics. They just don't they
41:57
Speaker 2: don't have a vision fat they have no economic sense.
42:00
Speaker 2: I'm an accountant. You have to build up your balance
42:02
Speaker 2: sheet if you want to pay back.
42:03
Speaker 17: Your debts, and say you look for substantial assets that
42:06
Speaker 17: actually provide you the return cal fire power, stations, ports,
42:10
Speaker 17: freight rail, inland rail. What they're trying to build up
42:12
Speaker 17: a balance sheet with is swindle factory. He's in the
42:15
Speaker 17: metal power brief things of windows and solar panels.
42:19
Speaker 18: You've got to mean suburban rail, lovely stuff.
42:21
Speaker 17: It doesn't even pay the tickets don't even pay for
42:24
Speaker 17: like a third of the costs of the rail, so
42:26
Speaker 17: it doesn't make money. It's a convenience thing, but doesn't
42:28
Speaker 17: make money. And you know roads and freight rail they
42:31
Speaker 17: actually make you money.
42:33
Speaker 18: And they don't see to comprehend that.
42:35
Speaker 17: They can't comprehend the realities of how a real business
42:39
Speaker 17: works with real assets that drive the economy along.
42:43
Speaker 18: So what they do is they throw at a number.
42:45
Speaker 17: Steve, They'll throw it y, it's going to cost thirty
42:47
Speaker 17: billion dollars, like you know Dr Evil from Austin Powers
42:50
Speaker 17: thirty billion dollars. And you know many me Jim Chalmers goes, oh, look,
42:54
Speaker 17: thirty billion dollars.
42:56
Speaker 19: And then when you say to them, can you please
42:57
Speaker 19: provide the details of how now you came up with
43:01
Speaker 19: that stupendous number, And they will give you a piece
43:04
Speaker 19: of paper and say, look there it says thirty billion dollars.
43:06
Speaker 19: But they can't actually give the details of how they
43:08
Speaker 19: got to it. And this is just obviously to terrify you,
43:12
Speaker 19: to give them an excuse to not do it, and
43:15
Speaker 19: so what it shows the total hypocrisy, no matter how
43:17
Speaker 19: you look at them, the hypocrisy, the inadequacy and the
43:20
Speaker 19: lack of planning of the government that apparently is considering
43:24
Speaker 19: wanting us to vote for them again. I would not
43:27
Speaker 19: trust these people with my cat who learn our economy.
43:32
Speaker 2: Seems bloody ridiculous to me. Barnaby, thanks for joining us.
43:36
Speaker 18: Absolute pleasure.
43:39
Speaker 2: I didn't even know Barnaby had a cat, but he
43:41
Speaker 2: obviously does now. It was day two of the Anti
43:43
Speaker 2: Semitism Royal Commission in City Today. Criticism has been named
43:46
Speaker 2: at social media companies who ignored requests to take down
43:50
Speaker 2: anti Semitic posts and those wanting to blame Israel for
43:54
Speaker 2: last year's Bondo terrorist attack. Join Me Now our Tuesday
43:57
Speaker 2: night panel Andrew's regular Tuesday night panel for Me my labor,
44:00
Speaker 2: MP Michael Debby and Executive director of the Samuel Griffith
44:03
Speaker 2: Society Meish. Good to see you both. Michael. I know
44:06
Speaker 2: you have a great interest in the outcome of this
44:10
Speaker 2: Royal Commission and will have been watching it over the
44:12
Speaker 2: last two days. What do you make of what's unfolded
44:15
Speaker 2: so far? I mean, it's been harrowing viewing well.
44:18
Speaker 20: I think Shari says that it's been cathartic for people involved,
44:23
Speaker 20: particularly in Sydney, that they are able to have a voice,
44:26
Speaker 20: and that the Australian government and the Royal Commissions recognize them.
44:28
Speaker 20: But I think to the average was it. The thing
44:30
Speaker 20: that would have come out of this the most is
44:32
Speaker 20: the state of siege that so many of those families
44:35
Speaker 20: and that small Jewish community in Sydney are only zero
44:39
Speaker 20: point five percent of the Australian population live under. So
44:43
Speaker 20: it's an ongoing problem. I first got funding for all
44:46
Speaker 20: of the Jewish schools back in nineteen ninety nine. It's
44:49
Speaker 20: my first actors a federal mp.
44:53
Speaker 2: MIA. The testimony has been very raw to watch, and
44:56
Speaker 2: as Michael just said there, I don't think any of
44:58
Speaker 2: us who are not Jewish can understand and exactly the
45:01
Speaker 2: impact that post the slaughter in Gaza and right up
45:06
Speaker 2: and to including Bondai, none of us could understand how
45:09
Speaker 2: bad it was.
45:13
Speaker 15: No, I think that's right. Stevie used the word harrowing before,
45:15
Speaker 15: and I couldn't use a more perfect word to describe
45:18
Speaker 15: what we're hearing at the moment. I think certainly post Bondai.
45:20
Speaker 15: We had heard snippets from the Jewish community about exactly
45:23
Speaker 15: the kind of torment they'd been experiencing, but to see
45:26
Speaker 15: that evidence laid out bear in submission after submission, it's
45:30
Speaker 15: quite overwhelming. And to hear that this has happened here
45:33
Speaker 15: in Australia is simply shocking and appalling. And the fact
45:37
Speaker 15: that we've had a group of political leaders who had
45:39
Speaker 15: been warned about this for some time and have failed
45:42
Speaker 15: to act is even more disappointing. I mean, we heard testimonies.
45:46
Speaker 15: We had one woman, Natalie Levi, testify that her daughter
45:49
Speaker 15: has had swastikas put up at her school and nothing
45:53
Speaker 15: was done about it. And it just goes to show
45:56
Speaker 15: that we have a real problem in this country. These
45:58
Speaker 15: band aid solutions of passing various bands against hate symbols
46:02
Speaker 15: or hate speech is not enough. The problem is that
46:04
Speaker 15: we have certain people in the Australian community who hold
46:07
Speaker 15: these views and nothing is being done about it.
46:12
Speaker 2: Yeah, we're going to remind ourselves, of course, that the
46:14
Speaker 2: Prime Minister had to be drag kicking and screaming to
46:16
Speaker 2: actually put one on. Speaking of the Prime Minister, Michael,
46:19
Speaker 2: I know you're such a fan I don't think he
46:21
Speaker 2: gets the fuel crisis. Have a look here at Anthony
46:25
Speaker 2: Albanezy talking to the media today comparing jerry cans of
46:29
Speaker 2: fuel to the toilet paper shortage during COVID.
46:33
Speaker 5: You would recall you probably reported in March on the
46:39
Speaker 5: people rocking up the service stations, filling up jerry cant
46:43
Speaker 5: in an irresponsible way and having a whole lot of
46:46
Speaker 5: petrol in their garage or on their properties in a
46:50
Speaker 5: way that frankly wasn't safe either. This was reminiscent of
46:57
Speaker 5: what occurred with toilet paper during COVID, except petrol is
47:01
Speaker 5: a lot more dangerous.
47:04
Speaker 2: Michael, what a ridiculous comparison. Every backyard shared, every garage
47:08
Speaker 2: with the petrol powered moer whipper snipper like mine has
47:12
Speaker 2: a can of unleaded petrol in it.
47:14
Speaker 20: Blaming the average Australian, not the government. We have thirty
47:18
Speaker 20: days of fuel and LNG in Australia, ridiculous. The communist
47:24
Speaker 20: Chinese have two hundred and the Japanese who Prime Minister
47:30
Speaker 20: visited and visit was as Greg Sheridan arguers was downgraded.
47:35
Speaker 20: If you ask foreign affairs observers have two hundred and thirty.
47:39
Speaker 20: So you know, blame yourself.
47:41
Speaker 18: Elbo.
47:44
Speaker 2: Mia, did the twenty million dollar add work on you
47:47
Speaker 2: about saving petrol?
47:50
Speaker 15: No, it certainly didn't. I think you're referring to Steve
47:52
Speaker 15: the advice I received that I should drive with my
47:54
Speaker 15: windows up in my car and that would tell me
47:56
Speaker 15: I'll help fuel efficiency. I think I also receive advice
48:00
Speaker 15: should take heavy items out of my back seat. So no,
48:03
Speaker 15: I mean can Albany to get the lines right. He'll
48:06
Speaker 15: be out there saying, look, there's no need to panic
48:07
Speaker 15: by there's no need to stress. But the same time
48:09
Speaker 15: he's putting out an add to saying every little bit counts.
48:12
Speaker 15: What is the message? It is so confusing.
48:16
Speaker 2: Don't forget to take your roof racks off as well, Ma,
48:18
Speaker 2: Mia Michael, thank you very much. Appreciate you joining us tonight.
48:22
Speaker 2: Shari marksin coming up next, but just hang around also
48:25
Speaker 2: for Paul Murray's pub test. They are always great viewing.
48:28
Speaker 2: He's in Aubrey tonight for the election in Farah and
48:32
Speaker 2: he'll have all the candidates on. So stick around for
48:34
Speaker 2: Paul Murray coming up at nine. Shari's next