Transcript

Sharri | 20 May · Sharri

0:01
Speaker 1: Live on Sky News. This is Sharry.
0:07
Speaker 2: Good Evening tonight. Anthony Albanesi is set to ram his
0:10
Speaker 2: tax changes through avoiding the scrutiny of parliamentary inquiries, despite
0:15
Speaker 2: growing backlash from Ozzie businesses. One female founder will join
0:20
Speaker 2: me live. Plus, the Prime Minister has been left off
0:24
Speaker 2: the guest list from the g seventh Summit by No
0:26
Speaker 2: rather than his lefty power Emmanuel Macron. You won't believe
0:30
Speaker 2: who has made the cut instead. James Patterson will be
0:34
Speaker 2: live in studio in a moment. And an Australian girl
0:38
Speaker 2: has been caught online by an Israeli influencer saying this.
0:43
Speaker 3: That's why you got locked in the chambers, buddy.
0:46
Speaker 2: I'll show you the rest of that disgraceful clip a
0:49
Speaker 2: little later, but first, Anthony Albanesi plans to ram his
0:54
Speaker 2: controversial tax changes through the Parliament, just rushing them in
0:58
Speaker 2: before any consultation, before they can be properly scrutinized by
1:02
Speaker 2: parliamentary inquiries. The momentum is growing in a powerful campaign
1:08
Speaker 2: to force the Albanzy government to drop its capital gains
1:11
Speaker 2: tax on businesses and shares, and there's even been an
1:16
Speaker 2: extraordinary intervention from New South Wales Premier Chris Mints about
1:21
Speaker 2: how Australians are effectively working half the week for the
1:25
Speaker 2: federal government.
1:27
Speaker 4: Well, look, I mean, whether it's in this budget or
1:30
Speaker 4: it's in the future, we do need to make sure
1:32
Speaker 4: that we're doing everything we can to hear more money
1:35
Speaker 4: back to working Australia. As the top marginal rate of
1:38
Speaker 4: forty seven percent, as I said in Parliament last week,
1:40
Speaker 4: you're working Monday, Tuesday and half Wednesday for yourself and
1:44
Speaker 4: then Wednesday, Thursday and Friday for the government.
1:47
Speaker 5: That's it's a.
1:49
Speaker 1: Tough burden for a lot of families to hit.
1:52
Speaker 2: And he said urgent action on income taxes needed urgent
1:57
Speaker 2: and putting it like that the way he did in
1:59
Speaker 2: terms of the days of the week, it really paints
2:02
Speaker 2: a picture for Australians about just how much tax they're
2:05
Speaker 2: paying to the Albanzi government. Opposition leader Angus Taylor has already,
2:10
Speaker 2: as you know, pledged to index the personal income tax
2:14
Speaker 2: thresholds to inflation to stop bracket creep. And this is
2:19
Speaker 2: a major ideological difference between the Coalition and labor, or
2:23
Speaker 2: at least federal labor under Albanzi. The far left Albanese
2:29
Speaker 2: government would never consider indexing tax thresholds with inflation because
2:33
Speaker 2: it reduces the tax revenue and prevents their ability to
2:37
Speaker 2: continue spending. Labor is currently able to take more of
2:42
Speaker 2: your money in taxes simply because of bracket creep. And
2:47
Speaker 2: Albanezi has always been a far left figure. I mean,
2:52
Speaker 2: think how he joined the protests against Israel, and then
2:56
Speaker 2: there's his personal push for death taxes just a few
3:00
Speaker 2: years before he entered politics. And as Prime Minister, Albanezi
3:04
Speaker 2: has shaped the country in his image, a big immigration agenda,
3:09
Speaker 2: recognizing a Palestinian state bringing in thousands from Gaza, and
3:15
Speaker 2: now this irresponsible radical left economic agenda that is anti business,
3:21
Speaker 2: anti aspiration and anti investment. The Australians Editor at Large
3:27
Speaker 2: Paul Kelly writes in his exceptional column today about this
3:32
Speaker 2: change to the left. Here's what he says. It means
3:36
Speaker 2: a shift to the left. Higher taxes overall, higher taxes
3:41
Speaker 2: on capital, disincentives and investment, and redistribution in the name
3:46
Speaker 2: of equity. The budget imposes higher capital taxes on individuals,
3:52
Speaker 2: partnerships and trusts, but offers only modest personal income tax relief.
3:58
Speaker 2: Paul Kelly writes that our and charmers say this is
4:01
Speaker 2: a fairer tax model, yet it seems most fair to
4:06
Speaker 2: the government via extra revenue. Such a good point is
4:11
Speaker 2: exactly right. The only beneficiary of these tax changes, this
4:16
Speaker 2: tax package is the government that, to put it, simply
4:20
Speaker 2: takes more of your money to spend and waste on
4:24
Speaker 2: its welfare agenda. And Paul Kelly writes that Labor has
4:29
Speaker 2: utterly misjudged the depth of the backlash. And by the way,
4:33
Speaker 2: he'll be here on the program tomorrow evening, so don't
4:36
Speaker 2: miss that interview. But it's actually eyewatering when you think
4:40
Speaker 2: how much more you'll be paying over the next decade
4:44
Speaker 2: in tax. That figure is more than eighty billion. The
4:49
Speaker 2: Treasurer admitted as much on the ABC.
4:53
Speaker 6: How much extra tax will you change to negative gear
4:56
Speaker 6: in capital gains tax and trusts actually raise? How much
5:00
Speaker 6: will it collect over the decade?
5:02
Speaker 7: Now, over the ten year period, the capital gains and
5:05
Speaker 7: negative gearing changes are a little bit over forty billion dollars,
5:09
Speaker 7: and the trust changes are also a little bit over
5:12
Speaker 7: forty billion dollars, so just.
5:14
Speaker 6: Around over eighty billion dollars. The reporting a week has
5:18
Speaker 6: been that it's more than one hundred billion dollars. You're
5:20
Speaker 6: saying over the decade, the negative year and capital gains
5:23
Speaker 6: tax trust changes will actually be just over eighty billion dollars.
5:27
Speaker 7: Yeah, both of them are a bit over forty billion dollars.
5:31
Speaker 2: I mean, that's sickening. An extra eighty billion, an extra
5:36
Speaker 2: in taxes on top of the high rates you're already paying,
5:40
Speaker 2: and you've already paid for your whole life. As economist
5:44
Speaker 2: Adam Crichton will tell us later on on the show,
5:48
Speaker 2: Australia already has among the highest rates of personal income
5:51
Speaker 2: tax in the developed world. The backlash, especially from small business,
5:57
Speaker 2: is understandable, and then Fordy business leaders and entrepreneurs signed
6:02
Speaker 2: a letter to the Prime Minister urging him to dump
6:05
Speaker 2: the capital gains tax changes from productive assets. Their letter
6:10
Speaker 2: states that the changes will do nothing to make houses
6:13
Speaker 2: more affordable. All they will achieve is to suck the ambition,
6:17
Speaker 2: drive and hope out of the hearts of young business builders.
6:23
Speaker 2: This aspiration ambush doesn't just impact tech startups either, and
6:27
Speaker 2: impacts every business in Australia, meaning every small business that
6:32
Speaker 2: wants to become a medium sized business and every medium
6:35
Speaker 2: sized business that wants to become a big business. And
6:40
Speaker 2: there wouldn't be too many people who aren't worse off
6:43
Speaker 2: by the federal budget. Just have a look at these figures.
6:46
Speaker 2: The data shows that over nine million Australians own shares
6:50
Speaker 2: or EFTs that would be hit by capital gains tax
6:54
Speaker 2: when they sell their shares. Then two point two four
6:58
Speaker 2: million Australians own investment property, again where the profits would
7:02
Speaker 2: also be taxed higher in most cases when sold. And
7:08
Speaker 2: there are two point seven million actively trading businesses in
7:11
Speaker 2: Australia and that's an enormous number impacted by the budget.
7:17
Speaker 2: There'd be some overlap between those groups, but you're looking
7:20
Speaker 2: at millions affected. At least one in three Australians who
7:24
Speaker 2: would be worse off most likely after the budget one
7:29
Speaker 2: in three. Tim Wilson today in his press club speech
7:34
Speaker 2: said that this was a war on business, where.
7:38
Speaker 8: The Albanezy government has declared war on the self starters
7:41
Speaker 8: and small businesses of Australia. We are going to fight
7:45
Speaker 8: for them. We can renew our fighting spirit a nation
7:48
Speaker 8: of self starters where we aspire, innovate, invest in the
7:51
Speaker 8: future and look to the horizon with confidence, living out
7:54
Speaker 8: the spirit of the boxing Kangaroo.
7:58
Speaker 2: I mean when you're facing a backlash like this, you
8:01
Speaker 2: think you might consult or listen or take your time,
8:03
Speaker 2: But instead alban Easy plans to ram the tax changes through,
8:10
Speaker 2: and to do it before there's time for an in
8:12
Speaker 2: depth parliamentary inquiry with proper consultation into the impact. The
8:19
Speaker 2: legislation is expected to pass with the support of the
8:21
Speaker 2: Greens and it'll be introduced to Parliament the week after next. Now,
8:27
Speaker 2: other nations are competing fiercely to attract investment and create
8:32
Speaker 2: a climate that incentiviizes business. Yet the alban Ezy government
8:37
Speaker 2: is doing the precise opposite. It's eroding the culture of
8:41
Speaker 2: self sufficiency that's crucial for a thriving economy. The tax
8:46
Speaker 2: measures in this budget will have a devastating effect on
8:50
Speaker 2: Australian entrepreneurship, self enterprise and the economic resilience that our
8:57
Speaker 2: country depends on. And for more on this, Shadow Defense
9:04
Speaker 2: Minister James Patterson joins me now live in studio. Great
9:07
Speaker 2: to have you here in person, James.
9:09
Speaker 1: Good to be here. Thank you. Cherry.
9:11
Speaker 2: Now we've just been speaking about the impact on small business,
9:14
Speaker 2: but there's also the taxation on trusts, which amount to
9:17
Speaker 2: an inheritance tax.
9:19
Speaker 9: Yeah, budgets often oxidize once they're released publicly and there's
9:23
Speaker 9: scrutiny and what's in them, and nasty things emerge. But
9:26
Speaker 9: I've never seen a budget oxidize so quickly and so
9:29
Speaker 9: badly as this budget has. On Budget Night, I thought
9:32
Speaker 9: there was a risk that they would be subject to
9:35
Speaker 9: accusations of a death tax.
9:36
Speaker 1: I didn't realize that already.
9:38
Speaker 9: Introduced to death tax, at least for some Australians who
9:41
Speaker 9: have a trust, who want to protect their assets, who
9:43
Speaker 9: want to direct to where it goes.
9:44
Speaker 1: After they die.
9:45
Speaker 9: It's actually a very common family planning tool, a state
9:48
Speaker 9: planning tool. It's not about tax avoidance. And yet these
9:51
Speaker 9: people are going to be hit with a thirty percent
9:52
Speaker 9: death tax. If Labor's willing to do that in a budget,
9:55
Speaker 9: then why wouldn't they be willing to do a full
9:58
Speaker 9: on death tax for all Australians. W wouldn't they be
10:00
Speaker 9: willing to contemplate taxes on the family home. You can't
10:03
Speaker 9: believe any denial they make now, given the denials that
10:06
Speaker 9: they made about negative gearing, capital gains tax and trusts.
10:09
Speaker 2: And I just want to get your view on the
10:11
Speaker 2: ideological nature of this as Paul Kelly points out, this
10:14
Speaker 2: is a massive shift to the left this budget. Before that,
10:18
Speaker 2: you know, perhaps they tried to stay somewhat centrist though
10:22
Speaker 2: that's arguable, but this is really a big radical shift.
10:26
Speaker 1: This is the mask off moment.
10:27
Speaker 9: This is where the Albaneze government shows the Australian people
10:30
Speaker 9: who they really are. There were some debates in the
10:33
Speaker 9: lead up to this budget about changes in the tax mix,
10:35
Speaker 9: where we'd increase taxes on capital and decreased taxes on workers,
10:39
Speaker 9: and that might have been defensible, as Chris Mins and
10:41
Speaker 9: others have argued, but what they've actually done is they've
10:44
Speaker 9: taken those tax increases and returned almost none of it
10:47
Speaker 9: to working people, almost no tax cuts at all. This
10:50
Speaker 9: is about an agenda for bigger government, for higher taxes,
10:53
Speaker 9: for more spending, because that's fundamentally what this goverment believes.
10:56
Speaker 9: They just didn't weren't transparent with the Australian people about.
10:59
Speaker 2: That before the all right, we'll come back to the
11:02
Speaker 2: budget with a panel and with Adam Crichton a bit later,
11:04
Speaker 2: but I'm keen to ask you about this snub by
11:06
Speaker 2: Emmanuel mccron so Latika Bert, Latika Burke in the Nightly
11:10
Speaker 2: reports that alban Easy has not been invited on the
11:13
Speaker 2: official invite list to the G seven, which is held
11:16
Speaker 2: in mid June. It's the invite list is done by
11:19
Speaker 2: the French President Emmanuel Macron. To add to the humiliation,
11:23
Speaker 2: the leaders of Kenya, Brazil and South Korea have been invited.
11:29
Speaker 2: This is a snub, isn't it.
11:30
Speaker 9: This is a really important story from le Tekeberk that
11:33
Speaker 9: deserves wider attention. And then imagine if this's had happened
11:36
Speaker 9: to a previous government, the Morrison government. Imagine if they
11:38
Speaker 9: were overlooked. I think people would set their hair on
11:40
Speaker 9: fire with panic about that. It's actually a really disappointing
11:43
Speaker 9: decision because for the best part of the last decade,
11:46
Speaker 9: Australia has been invited to participate in the G seven
11:48
Speaker 9: and I think we have things to contribute. No disrespect
11:51
Speaker 9: to those other countries that are being invited, but the
11:54
Speaker 9: Indo Pacific is such a critical region. This has become
11:56
Speaker 9: such a key forum for democracies to coordinate internationally, and
12:00
Speaker 9: if we're not even in the room, we won't have
12:01
Speaker 9: an opportunity to shape that. So it is a really
12:03
Speaker 9: disappointing decision and I'd like to know what the Albanizic
12:05
Speaker 9: government is doing to try and overturn it to get
12:07
Speaker 9: an invite.
12:08
Speaker 2: What do you think they should do?
12:09
Speaker 3: Well?
12:10
Speaker 9: The Prime Minister has boasted about his relationship with France
12:13
Speaker 9: and particularly with President Macron. He's made quite something of
12:17
Speaker 9: the fact that he's restored that relationship. Well, obviously it's
12:19
Speaker 9: not as strong or as healthy as he's claimed it is,
12:22
Speaker 9: and he's got an opportunity to demonstrate that now by
12:24
Speaker 9: reaching out directly to the President and asking for an invitation.
12:27
Speaker 2: Yeah, we're learning that the Isis Brides, the next cohort
12:31
Speaker 2: of seven women and another group of children, are set
12:34
Speaker 2: to arrive within days now. We haven't heard again any information,
12:39
Speaker 2: no transparency from the Albanizi government about this. You know,
12:43
Speaker 2: the last cohort we didn't really know well, I reported,
12:47
Speaker 2: but they didn't tell Australians that at least two when
12:51
Speaker 2: there were three, we're going to be subject to charges
12:53
Speaker 2: as it turned out. So we know nothing about this
12:55
Speaker 2: group either.
12:56
Speaker 9: All we need to know is that they have been
12:59
Speaker 9: in a terrorist controlled hotspot for a significant amount of time.
13:02
Speaker 9: They voluntarily left a liberal democracy like Australia. One of
13:05
Speaker 9: the best countries in the world, the freest countries in
13:07
Speaker 9: the world, most prosperous countries in the world. They went
13:09
Speaker 9: to join a death cult and that's enough information for
13:11
Speaker 9: me to know that we don't want them back. If
13:13
Speaker 9: they are also charged with crimes like the other cohort
13:15
Speaker 9: has been, well that's additional reason to be wary. And
13:18
Speaker 9: the Albanizy government is up to this in their to
13:21
Speaker 9: their eyeballs. They know all about this, but as you say,
13:23
Speaker 9: they're not taking Australian people into their confidence and being
13:26
Speaker 9: honest and transparent about it.
13:28
Speaker 2: I mean, we've spoken about the fact that the passports
13:31
Speaker 2: were issued in bulk to someone who then brought them
13:35
Speaker 2: over to the ISIS cohort, But I mean they just
13:39
Speaker 2: haven't been It's kind of like you know, the taft
13:41
Speaker 2: line man. They haven't been held accountable for the issuing
13:44
Speaker 2: of these passports and other travel documentation. That is the
13:47
Speaker 2: responsibility of the government.
13:49
Speaker 9: It's very clearly within the control of the government to
13:51
Speaker 9: prevent these people from returning if they want. They have
13:53
Speaker 9: grounds under the Passport Act to refuse to issue them
13:56
Speaker 9: passports or cancel them. They have grounds to use temporary
13:59
Speaker 9: school orders to keep them off shore to apply for them.
14:02
Speaker 9: Pennywong hasn't canceled the passports or refused to wish them.
14:04
Speaker 9: Tony Burke hasn't issued the temporary explosion orders. So they
14:07
Speaker 9: own the return of these people to our country.
14:10
Speaker 2: Imagine you'll be grilling them about this incented estimation a
14:14
Speaker 2: couple of weeks time, all right, So in your shadow portfolio.
14:19
Speaker 2: Now there are the plans to upgrade Australian's Collins class
14:22
Speaker 2: submarines have been scaled back and the Defense Minister, Richard
14:27
Speaker 2: Marles effectively admitted that there is a gap here. Here's
14:30
Speaker 2: what he had to say.
14:32
Speaker 10: No government demonstrated the costs of the nation of the
14:36
Speaker 10: Liberals defense failure more than the Abbat Turnbull Marston government,
14:39
Speaker 10: for it must surely rank as the worst defense government
14:42
Speaker 10: in Australia's history. The Liberals had succeeded only in opening
14:46
Speaker 10: up a capability gap with Australia's most important military platform.
14:50
Speaker 10: The Liberals failed to prepare and implement a thoughtful plan
14:54
Speaker 10: for the life of type extension for the Colin's fleet.
14:59
Speaker 2: I mean, James, some suggestions that we might still have
15:02
Speaker 2: the old submarines for another twenty years or so.
15:05
Speaker 9: That was one of the most partisan speeches ever delivered
15:08
Speaker 9: by a defense minister. It was incredibly defensive and frankly
15:11
Speaker 9: I think beneath the office of the Deputy Prime Minister,
15:14
Speaker 9: and its purpose was to try and obscure quite an
15:17
Speaker 9: embarrassing descoping of this upgrade of the Colins class submarines
15:22
Speaker 9: and the fact that they're now going to be in
15:23
Speaker 9: the water for longer than we previously thought they might
15:25
Speaker 9: need to be. The truth is under labor Australia is
15:28
Speaker 9: going to be less well defended because they're not willing
15:31
Speaker 9: to spend what is necessary to spend to protect our country.
15:33
Speaker 9: We may be down to only two submarines in the
15:36
Speaker 9: water in the next few years and for a maritime
15:39
Speaker 9: nation that's not good enough. And Richard Miles can spend
15:41
Speaker 9: all the time and energy likes attacking the previous government,
15:44
Speaker 9: but attacking the previous government doesn't make Australia safer. Only
15:47
Speaker 9: actually winning fights around the Expenditure Review Committee table and
15:50
Speaker 9: getting funding for defense is what makes us safer.
15:53
Speaker 2: I mean, at this point in time, Australia can't defend
15:56
Speaker 2: itself at or should we need to. We are completely
15:59
Speaker 2: relying on the United States. And given that's the situation,
16:03
Speaker 2: you think the Prime Minister would stop criticizing the President
16:06
Speaker 2: of the United States.
16:07
Speaker 1: I agree.
16:07
Speaker 9: I think the relationship with the United States is being
16:09
Speaker 9: mismanaged on Labour's watch. We've seen the President now publicly
16:12
Speaker 9: call out Australia on four separate occasions in relation to Iran.
16:16
Speaker 9: As far as we can tell, no attempt has been
16:18
Speaker 9: made to clarify between the Prime Minister and the President.
16:21
Speaker 9: This is our most important relationship. And whatever Australians might
16:24
Speaker 9: think about Donald Trump personally, he's democratically elected by our
16:27
Speaker 9: closest ally and he makes decisions every day which affect
16:30
Speaker 9: our national security. And so it's a relationship that should
16:32
Speaker 9: be very carefully managed and it is just not being
16:35
Speaker 9: all right.
16:36
Speaker 2: Just finally, James, Now we've spoken about this on this
16:38
Speaker 2: program before, that the federal government is moving to sell off,
16:42
Speaker 2: privatize a whole lot of Defense Force heritage sites. Now
16:47
Speaker 2: you've taken this campaign to heart. You've started a petition
16:51
Speaker 2: to save some of these sites. Tell us about it.
16:54
Speaker 9: When just twenty four hours, ten thousand Australians have signed
16:56
Speaker 9: on to my petition to tell the albert Easy government
16:59
Speaker 9: to not give away our military heritage. Once it's gone,
17:02
Speaker 9: it's gone forever. And some of our most iconic military bases,
17:05
Speaker 9: including Victoria Barracks here in Sydney, which has been continuously
17:09
Speaker 9: operated by the ADF and its predecessors for over one
17:11
Speaker 9: hundred and fifty years, are going to be flogged off
17:14
Speaker 9: for a few dollars because Richard Miles can't get the
17:16
Speaker 9: funding he needs from the budget. And I just think
17:18
Speaker 9: it's incredibly short sighted. I'm worried about the impact it
17:21
Speaker 9: has on our heritage and amorle, but I'm also worried
17:23
Speaker 9: about the impact it has on our capability of the
17:25
Speaker 9: former Chief of Army Ken Gillespie told my colleague Jess
17:28
Speaker 9: Collins this week in a Senate inquiry that Victoria Barracks
17:31
Speaker 9: Sydney has been a key staging ground for counter terrorism
17:34
Speaker 9: functions in Sydney when there are major events on, when
17:36
Speaker 9: things like APEX or G seven or G twenty are held.
17:40
Speaker 1: It's used for things like that.
17:41
Speaker 9: If you give that away, there's not a readily easily
17:43
Speaker 9: available replacement.
17:44
Speaker 1: I think that's irresponsible, and.
17:46
Speaker 2: It's for such a small budget gain. Anyway, you wouldn't
17:49
Speaker 2: have thought it's worth it. Okay, so James, so you
17:51
Speaker 2: know people really care about this issue. How do they
17:54
Speaker 2: find your petition? Have got the have we got the
17:58
Speaker 2: the uro?
18:00
Speaker 11: Well?
18:00
Speaker 2: Yeah, doing it up now.
18:01
Speaker 9: If you just head to my website or even just
18:02
Speaker 9: google my name, it'll come up. It's on the homepage
18:05
Speaker 9: and you can sign on and join that growing list
18:08
Speaker 9: of Australians to send a message to the government. We
18:10
Speaker 9: have to get them to back down here. They have
18:12
Speaker 9: to see sense. Not every single one of the sixty
18:14
Speaker 9: seven sites that they want to sell is a priceless
18:17
Speaker 9: piece of heritage, but there are many significant items of
18:19
Speaker 9: heritage that really should not be thrown away. Whether it's
18:22
Speaker 9: the Queenscliff Fort in Victoria, whether it's Victoria Barracks here
18:25
Speaker 9: or in Brisbane.
18:26
Speaker 1: These are really iconic sites.
18:27
Speaker 2: Yeah all right, so head to your website then we
18:29
Speaker 2: just showed that on the screen. James, great to see
18:31
Speaker 2: you in person. Thank you so much.
18:32
Speaker 1: Thank you for having me.
18:35
Speaker 2: All right, let's return to that shocking clip now that
18:37
Speaker 2: I showed you a snippet of earlier in the show.
18:39
Speaker 2: An Israeli creator and musician, you have, Zama, who documents
18:44
Speaker 2: random online conversations, has shared publicly his experience with two
18:49
Speaker 2: Australians and he's exposed them for what they really think
18:53
Speaker 2: of Jewish people.
18:54
Speaker 12: Have a look, yeah, get blond, bluddy, I'm recording you
18:57
Speaker 12: and that's udly insane that you said that, and from
19:01
Speaker 12: Israel where you're from.
19:02
Speaker 2: No comment the Jews?
19:04
Speaker 5: All right, what what?
19:07
Speaker 13: That's why you got locked in the chambers body because
19:09
Speaker 13: you're an annoying little I get what locked you in
19:12
Speaker 13: the thing?
19:13
Speaker 12: You are destroying the image of Australia and the image
19:15
Speaker 12: of humankind. Do something and help yourself. Hi, nice to
19:19
Speaker 12: meet you.
19:20
Speaker 3: What is that thing you're rocking back?
19:21
Speaker 5: There's a loop station?
19:23
Speaker 1: Wait, hang on a second. So you're basically a Jew?
19:27
Speaker 4: Yeah?
19:27
Speaker 12: How did you? How did you connect to the things?
19:30
Speaker 12: The loop station and the Jewish.
19:32
Speaker 3: In case you're a dumby that you are?
19:37
Speaker 2: I mean, it's absolutely shocking and it comes at the
19:41
Speaker 2: same time as the Royal Commission into Anti Semitism is underway.
19:45
Speaker 2: It's yet another reminder of the scale of the hatred
19:48
Speaker 2: among regular Australians and that young woman didn't seem to
19:53
Speaker 2: even care that she was being recorded. Well, lie from Israel?
19:57
Speaker 2: Now is you have himself? You have? Well? So how
20:01
Speaker 2: did you end up how did you end up in
20:03
Speaker 2: contact with these Australians.
20:06
Speaker 12: Usually I do like almost daily live streams where I
20:09
Speaker 12: go on this like chat Roulette website to do random
20:12
Speaker 12: video chat with people all over the world. And because
20:15
Speaker 12: of the timeframe that I do my live stream, it's
20:17
Speaker 12: in the same timeframe as like the evening for Australia.
20:20
Speaker 12: So I speak to a lot of Australians and about
20:23
Speaker 12: fifty percent to fifty percent I have like good and
20:26
Speaker 12: bad interactions, and some of them are very radically antisemitic.
20:30
Speaker 12: It's not the first time like something like that happened.
20:33
Speaker 12: And I have many footage that I just didn't expose
20:36
Speaker 12: because it's very tough for me to edit it to
20:39
Speaker 12: go into that because it's very tough. This energy is
20:43
Speaker 12: very like bad. And I love Australia. I have friends
20:46
Speaker 12: that move to Australia from Israel. But I hope for
20:49
Speaker 12: a bot of the future.
20:50
Speaker 2: Well, you know, most Australians, I don't know if I
20:54
Speaker 2: can even say that, I was gonna say most of
20:55
Speaker 2: us Australians love ISRAELI is what at least most of
20:58
Speaker 2: my viewers do. But it gives you you and insight
21:00
Speaker 2: into what we're dealing with in Australia. And if you
21:03
Speaker 2: say you talk to Australians often, I mean it's nighttime
21:07
Speaker 2: here now morning or afternoon. You know, one o'clockis in
21:11
Speaker 2: Israel midday, so you know, it just shows you the
21:16
Speaker 2: level of hatred. And given you've had more than these
21:18
Speaker 2: two experiences, you've had many.
21:21
Speaker 12: Many I've had many, and I feel like it's being
21:24
Speaker 12: like a trend. I see many people, like from all
21:27
Speaker 12: of the spectrum of this, like the social inside of Australia,
21:32
Speaker 12: from immigrants to the Australians, you know, the white people
21:36
Speaker 12: in Australia and et cetera, that have been like saying
21:39
Speaker 12: to me a lot like Jew Jew Jew. It's like
21:41
Speaker 12: a trend. It's like a TikTok trend. Me and myself.
21:43
Speaker 12: I'm being banned from TikTok for uploading for exposing anti Semitism.
21:47
Speaker 12: It's like harsh videos. So they've been banned my account
21:51
Speaker 12: in TikTok. But at the same time, through TikTok and
21:54
Speaker 12: through other social media and like fake and false news,
21:58
Speaker 12: it's getting to wear it was in the past, and
22:00
Speaker 12: it's very very scary.
22:02
Speaker 2: Well, it was a big story in Australia when there
22:04
Speaker 2: were two nurses at a public hospital who said something
22:08
Speaker 2: similar with Max Weifer. So if you ever have anything
22:12
Speaker 2: like that, make sure you send it to us and
22:14
Speaker 2: we will deal with it.
22:15
Speaker 14: You have.
22:16
Speaker 2: Sorry, this is happening to you. Thank you for being
22:18
Speaker 2: here and for exposing it.
22:20
Speaker 1: Thank you so much for having me.
22:22
Speaker 2: All right, let's bring in now former Victorian Liberal Party
22:25
Speaker 2: president Michael Kroger and Sky News host Joe Hildebrand. Michael,
22:29
Speaker 2: just a quick reaction to that video clip from just
22:33
Speaker 2: a regular looking young Australian girl.
22:36
Speaker 3: Er sickening.
22:37
Speaker 11: But look, Shari, you know Nazism didn't die in nineteen
22:41
Speaker 11: forty five. As we know, it's going to take decades
22:44
Speaker 11: generations to snuff out these anti Semites, these Jewish hating
22:51
Speaker 11: extremists who are in Western society. I mean, you see
22:57
Speaker 11: less anti Semitism in some of the Arab countries in
23:00
Speaker 11: the Middle East these days. They won't put up with it.
23:02
Speaker 11: They want to put up with them with some brotherhood
23:04
Speaker 11: or Hamas or the PFLP or others. But we have
23:08
Speaker 11: this sickness in Western society and it's step by step,
23:12
Speaker 11: it's two steps.
23:12
Speaker 3: For these news out to take time. But it's shocking
23:17
Speaker 3: and disgusting and sickening.
23:19
Speaker 2: All right, let's return to the budget now and to
23:22
Speaker 2: the voice of reason, Chris Mins. He's demanding urgent action
23:26
Speaker 2: on income tax here.
23:28
Speaker 4: Is in a general sense, whether it's now or in
23:31
Speaker 4: the future, we do need to make sure we're taking
23:34
Speaker 4: urgent action when it comes to personal income taxes because
23:37
Speaker 4: at the moment a lot of working families are getting stung.
23:42
Speaker 2: Joe, this is an extraordinary intervention and it really sets
23:45
Speaker 2: up the labor right from the labor left.
23:48
Speaker 5: Yeah, it really does.
23:49
Speaker 15: And I've got to say I haven't found much in
23:52
Speaker 15: this budget to recommend it. I find it difficult to
23:55
Speaker 15: even get my head around what is trying to be
23:59
Speaker 15: achieved in this Even the economic benefits of some of
24:02
Speaker 15: the most controversial changes are so minuscule. Chris means obviously
24:07
Speaker 15: my spirit animal, and he has spoken I think for
24:10
Speaker 15: a lot of people in the right of the Labor Party.
24:13
Speaker 15: I know obviously I'm a friend of the PM as well,
24:16
Speaker 15: and I think he's a good man. He certainly thinks
24:19
Speaker 15: of himself as a centrist, but I think part of
24:21
Speaker 15: the problem is that he's somehow found himself implementing things
24:26
Speaker 15: that I think they've clearly underestimated the backlash. I think
24:30
Speaker 15: other commentators have also underestimated the backlash, including from their
24:34
Speaker 15: own readership, and I think Albow would be wise to
24:40
Speaker 15: rethink some of these measures. I mean, Jim Chalmers says
24:42
Speaker 15: that he's consulting on some of them, and yet we
24:45
Speaker 15: also hear both publicly and privately that the government's just
24:49
Speaker 15: going to ram them all through. So I'm concerned for
24:53
Speaker 15: the sake of the Labor Party itself as to what
24:56
Speaker 15: the impact of this budget will be, let alone for
24:59
Speaker 15: the nation.
25:00
Speaker 2: There's no way Albaniz he can think of himself as
25:02
Speaker 2: a centrist after this. He's not a centrist. I mean,
25:04
Speaker 2: it's like those people who think they're a cat when
25:06
Speaker 2: they're not a cat. You know, he can't identify as
25:08
Speaker 2: a centrist. He's a radical left politician, isn't he.
25:11
Speaker 3: Michael, of course he is. But I think i'd say
25:14
Speaker 3: to Joe Joe.
25:16
Speaker 11: You know, former Queensland Premier Bilchi pedis and said it
25:19
Speaker 11: was very awkward for a man to have one leg
25:21
Speaker 11: either side of a barbee.
25:22
Speaker 3: Fence, and I think that's that's where you're sitting at
25:25
Speaker 3: the minute.
25:26
Speaker 11: Look, Sharry Christmans has an election on the thirteenth of
25:29
Speaker 11: March next year.
25:31
Speaker 3: People forget this.
25:31
Speaker 11: In nine months time, Chrismians is going to an election.
25:34
Speaker 11: The labor primary vote in Farah would have been eight percent.
25:37
Speaker 11: We did shockingly we only got twelve, but their vote
25:39
Speaker 11: would have been about eight percent. They would have been
25:41
Speaker 11: in single figures. So Chrismins knows that the labor vote,
25:45
Speaker 11: the primary labor vote in New South Wales, is under
25:47
Speaker 11: enormous pressure. He wants to disassociate himself what is now
25:52
Speaker 11: very quick become a toxic labor government federally in Canberra,
25:57
Speaker 11: and he wants to.
25:58
Speaker 3: Make sure he's not associated with him.
26:00
Speaker 11: So he's basically said what every thinking person knows, which
26:03
Speaker 11: is an Angus Taylor was absolutely right in what he said,
26:06
Speaker 11: a historic change and Min's doesn't want to be associated
26:09
Speaker 11: with ALBANSI That's the way I read it.
26:11
Speaker 2: Yeah, but he also wouldn't say something that he didn't believe,
26:14
Speaker 2: so he clearly does.
26:14
Speaker 15: Believe that does and the Treasure here has also said
26:17
Speaker 15: similar things.
26:18
Speaker 2: Yeah, all right, I want to turn to these comments
26:21
Speaker 2: that One Nation leader Pauline Hanson made on my colleague
26:25
Speaker 2: Chris Kenny's program tonight that she's considering running for lower
26:28
Speaker 2: House seat.
26:30
Speaker 16: I'm contemplating standing for a lower House seat, and i
26:33
Speaker 16: haven't made that determination as yet, and I'm not going
26:36
Speaker 16: to say what I'm doing at this stage, so we'll
26:40
Speaker 16: see what happens.
26:42
Speaker 2: Joe. The more interesting thing about that interview is that
26:44
Speaker 2: she kept talking about whether or not you can be
26:47
Speaker 2: Prime Minister from the Senate and she's looked at the Constitution,
26:50
Speaker 2: so clearly she has the leadership in her sites.
26:55
Speaker 5: Yeah, I'm not sure.
26:55
Speaker 15: If the role of the Prime Minister is even in
26:57
Speaker 15: the Constitution at all. Australia is other and far more
27:00
Speaker 15: by convention than it is by the actual constitution. The
27:05
Speaker 15: founding document the Constitution of Australia basically says, look, here's
27:08
Speaker 15: the basic framework. The rest of it you just figure
27:10
Speaker 15: out as you go, which is why it's such a
27:11
Speaker 15: brilliant document, because it gives people that flexibility to find
27:14
Speaker 15: the best system. But I think conventionally, the PM always
27:18
Speaker 15: has been in the lower House, just as the party
27:20
Speaker 15: that forms government has been by convention, the party that
27:24
Speaker 15: can form the greatest number of seats or a majority.
27:27
Speaker 15: Command of majority in the lower House I think Pauline
27:30
Speaker 15: would obviously be mad not to run now. I mean,
27:33
Speaker 15: things have never been better for One Nation, they probably
27:36
Speaker 15: never will be if you're going to make a go
27:38
Speaker 15: of it, and people can question the wisdom of whether
27:41
Speaker 15: One Nation even wants to be a major party, given
27:43
Speaker 15: the compromises that will entail. But you know, if you're
27:46
Speaker 15: going to make a go of it, you know it's
27:48
Speaker 15: now or never, so she might as well.
27:50
Speaker 2: Michael, do you think she's realistic or dreaming to be
27:53
Speaker 2: talking about the government and prime ministership.
27:57
Speaker 11: Well, I've been long stretch to get to prime minister
28:01
Speaker 11: from two seats to going to need.
28:04
Speaker 3: Seventy six, so that's that's a big stretch.
28:07
Speaker 11: However, they did very well in Farah, and you know,
28:10
Speaker 11: as Joe said, the tide the time suit One Nation Sarry.
28:14
Speaker 3: It would be politically.
28:16
Speaker 11: Disastrous for paul and Hansen and the National Party leader
28:21
Speaker 11: Matt Canavan to be campaigning against each other in a
28:25
Speaker 11: single House or Rep seat in the election in twenty
28:27
Speaker 11: eight or late next year. That would be a self indulgent,
28:31
Speaker 11: self indulgence on the conservative side of politics, which would
28:34
Speaker 11: instantly damage both sides. It would damage the National Party
28:38
Speaker 11: and therefore the Liberal Party would damage one nation.
28:40
Speaker 3: They'd be brawling with each other.
28:42
Speaker 11: They take the focus of labor, they take the focus
28:45
Speaker 11: on those toxic greens.
28:47
Speaker 3: This wild right, this would be mad.
28:50
Speaker 2: You're completely completely right. Look, just quickly, the United States
28:54
Speaker 2: government is cracking down on a Gaza flotilla, with the
28:58
Speaker 2: Treasury putting sanctioned on four members of what it calls
29:02
Speaker 2: a pro Hamas pr stunt. Quite extraordinary intervention from the
29:08
Speaker 2: United States Treasury. And it also comes as the Israeli
29:11
Speaker 2: defense losses or the navy really intercepted a different flotilla.
29:16
Speaker 2: And have a look at this. It's so funny because
29:17
Speaker 2: the Israeli authorities or the navy were blasting the song,
29:22
Speaker 2: you know, the Eurovision Israeli sung Michelle by nol Betan
29:27
Speaker 2: at the guards at floytilla. Have a look, Joe, Is
29:41
Speaker 2: that the worst punishment of all making them listen to
29:44
Speaker 2: Israeli music?
29:45
Speaker 15: I thought maybe they could play the YMC. Everyone else
29:47
Speaker 15: seems to be doing it. It might trigger them than
29:49
Speaker 15: they think of Donald Trump dancing to it. But I
29:52
Speaker 15: don't know about this sort of Does the US Treasury
29:55
Speaker 15: really need to get in to stop these guys? I
29:56
Speaker 15: think they are the best advertisement against themselves. They look
30:00
Speaker 15: so stupid, they're so ridiculous when they keep complaining about
30:04
Speaker 15: being brutalized by Israeli soldiers who are trying to offer
30:08
Speaker 15: them sandwiches, and they look absolutely idiotic when they're belly
30:12
Speaker 15: dancing in the middle of the Mediterranean and claiming they're
30:15
Speaker 15: delivering aid for millions of garzens on board you know,
30:19
Speaker 15: solar powered yachts. It's just I say, just let let
30:23
Speaker 15: it all roll out and let's sit back and enjoy
30:25
Speaker 15: the show.
30:26
Speaker 2: Yeah. Well, I'm supportive of the sanctions, go for it
30:30
Speaker 2: should be more sanctions. Can they come sanction a few
30:32
Speaker 2: people in Australia too, Joe Huda Brand, Michael Kruger, Great
30:35
Speaker 2: to see you, and quickly before we go. The Daily
30:39
Speaker 2: Telegraph revealed today that Ahmed al Ahmed has reported his
30:44
Speaker 2: brothers to police after they demanded one hundred thousand dollars
30:48
Speaker 2: each from him and threatened him. Now, as you know,
30:52
Speaker 2: Ahmed received more than two point six million dollars in
30:55
Speaker 2: donations after he took the weapon off Sajidakram at the
30:58
Speaker 2: bomb Day massacre. Will Police allege that one brother said
31:03
Speaker 2: he would put Ahmed's head under his boot, break his
31:06
Speaker 2: other arm and smash his face unless the money was paid.
31:09
Speaker 2: Both brothers have played not guilty and they'll reappear in
31:13
Speaker 2: court in July. Right still to come. The property market
31:16
Speaker 2: is tanking in the wake of the budget and business
31:18
Speaker 2: owners are warning they'll leave Australia and one founder will
31:22
Speaker 2: be on the show to tell the government what hard
31:25
Speaker 2: work actually looks like. That's after the break, welcome back well.
31:33
Speaker 2: Business owners are warning the Albanezy government that talented Australians
31:37
Speaker 2: with big creative ideas will leave in droves as they
31:41
Speaker 2: won't be able to attract investment and their profits when
31:44
Speaker 2: they sell will be heavily taxed. Heidi Trusselay is the
31:48
Speaker 2: founder and managing director of pop, which supports families and
31:52
Speaker 2: children with communication and learning challenges. She employees around one
31:57
Speaker 2: hundred women around the country and Heidi he joins me
32:00
Speaker 2: in studio now, thank you so much for being here
32:03
Speaker 2: and huge congratulations on your business. Incredible, so much hard
32:07
Speaker 2: work has gone into it.
32:08
Speaker 13: Thanks for having me here.
32:10
Speaker 2: What worries you most about the federal budget?
32:14
Speaker 13: What worries me most is that young Australians like myself
32:18
Speaker 13: who are entrepreneurial and who are starting out wanting to
32:22
Speaker 13: provide a service to the Australian public are not going
32:25
Speaker 13: to be rewarded for their hard work if they build
32:28
Speaker 13: something and then want to sell it in the future.
32:33
Speaker 2: So you started your business about ten years ago, but
32:36
Speaker 2: you still had to do another job on the side.
32:39
Speaker 2: This was really a side hustle that you gave your
32:42
Speaker 2: sweat and tears night and day to make happen. Absolutely.
32:46
Speaker 13: I grew up in Western Queensland on a Catalan's sheep
32:49
Speaker 13: station and my big brother has down syndrome. So when
32:52
Speaker 13: I chose to be a speech pathologist, I worked for
32:54
Speaker 13: four or five years and then went out on my own,
32:57
Speaker 13: but it was a side gig. I still actually worked
33:00
Speaker 13: for the government. I was a community health speech pathologist.
33:03
Speaker 13: It was a great job and then I got off
33:05
Speaker 13: at a senior role. It was worth one hundred thousand
33:08
Speaker 13: dollars a year package all of everything, but it was
33:12
Speaker 13: restrictive and I couldn't make the difference that I wanted
33:15
Speaker 13: in that role, and so I took the risk to
33:19
Speaker 13: start my own business. And I was only going to
33:21
Speaker 13: make twenty thousand dollars that year that I quit and
33:25
Speaker 13: made all those sacrifices, didn't pay myself properly or even
33:29
Speaker 13: get back to that Queensland Health rage for at least
33:32
Speaker 13: three or four years.
33:34
Speaker 2: And this is the sacrifice that it seems the government
33:38
Speaker 2: doesn't understand. You know, they treat business as the enemy.
33:41
Speaker 2: They want to punish ambition and aspiration and hard work.
33:46
Speaker 13: Punish ambition, and then when you do build, you do
33:49
Speaker 13: finally get the salary that you want out of your business.
33:52
Speaker 13: You provide jobs for now hundreds of people around the country.
33:56
Speaker 13: I have employed over two hundred people in the last decade.
34:00
Speaker 2: Wow, And you just have to say that's amazing. Thank you.
34:06
Speaker 13: You create jobs and you provide wealth. And I'm invested
34:09
Speaker 13: in helping my employees by their first home. I'm trying
34:12
Speaker 13: to help them create value for our business together so
34:17
Speaker 13: that we can generate of first home. We can help
34:20
Speaker 13: them buy their first home. And it's just going to
34:23
Speaker 13: be so much harder if anyone wants to start out
34:25
Speaker 13: like me after next July and their business is going
34:31
Speaker 13: to be valued at zero, which mine was when I started.
34:34
Speaker 13: And if you're going to bootstrap something, you just it's
34:37
Speaker 13: going to make it a lot harder for younger generations.
34:40
Speaker 2: Well, for those who are thinking of starting their company,
34:43
Speaker 2: do you think they just be better off doing it overseas?
34:45
Speaker 2: I mean, what reason is there to stay here?
34:49
Speaker 13: I get what you're saying. I have thought about this,
34:52
Speaker 13: and I'm such a patriot. I don't know to me
34:56
Speaker 13: in healthcare and I think charity starts at home desperate
35:01
Speaker 13: to help the Australian people. And it really hurts me
35:04
Speaker 13: that business and businesses probably not similar to mine, but
35:11
Speaker 13: other businesses are probably going to go overseas. New Zealand
35:13
Speaker 13: at the very least they actually have reciprocal Medicare and
35:16
Speaker 13: things like that. We can as health professionals, we can
35:19
Speaker 13: work there.
35:20
Speaker 2: They have zero capital gains tax as well as.
35:22
Speaker 13: Zero capital gains tax, So I'd own one hundred percent
35:24
Speaker 13: of my profits if i build a business in New Zealand,
35:27
Speaker 13: yet no dice in Australia.
35:30
Speaker 2: Yeah, not think. Have you been speaking about this issue
35:32
Speaker 2: with other business owners? I mean, is this something that
35:35
Speaker 2: everyone's very worried about. Absolutely.
35:38
Speaker 13: I've been speaking to a lot of my friends are
35:41
Speaker 13: farmers or own their own small businesses, have small health businesses,
35:45
Speaker 13: mostly in rural and remote towns or on the Sunshine
35:48
Speaker 13: Coast where I'm based, and they are all struggling with
35:53
Speaker 13: getting ahead, trying to buy their first home or something
35:56
Speaker 13: like that. And if you're owning a business and you're
35:59
Speaker 13: building ca and you're trying to build value, it's so
36:02
Speaker 13: disheartening that the goalposts have now been moved. We've all
36:05
Speaker 13: been following the rules. We've all been paying our taxes.
36:08
Speaker 2: Exactly at pop.
36:09
Speaker 13: Alone, we're looking to pay up to four hundred thousand
36:12
Speaker 13: dollars in payroll tax this year. So we pay a
36:16
Speaker 13: lot of tax, we give a lot back to the government,
36:19
Speaker 13: and we're generating jobs and wealth for other people in
36:23
Speaker 13: the country. And I guess this is how we get thanked.
36:28
Speaker 2: Look, and there's a lot of reports that the Albanizi
36:30
Speaker 2: government might have a carve out just for the tech sector.
36:33
Speaker 2: But that's not going to be good enough, because, as
36:35
Speaker 2: you said, you've been speaking with farmers every day, Mum
36:38
Speaker 2: and dad, businesses, you know, people who are ready doing
36:41
Speaker 2: it tough with the cost of living pressures, with the
36:43
Speaker 2: high inflation, with a rising interest rate. So a carve
36:45
Speaker 2: out for the tech sector that's not enough.
36:48
Speaker 13: It's not going to help my little brother who just
36:49
Speaker 13: bought a motorbike shop in Long Reach. You know, if
36:53
Speaker 13: he bought his business this year, like the valuation in
36:57
Speaker 13: one year, you know, if he wants to build that
37:00
Speaker 13: business over the next twenty years like he's now at
37:03
Speaker 13: so much more of a disadvantage as if he don't
37:06
Speaker 13: do it in the last twenty years.
37:07
Speaker 2: Yeah, exactly, Heidi, you are so impressive and I'm in
37:11
Speaker 2: awe of the fact've employee te hundred people over there
37:13
Speaker 2: and a mum with two young kids. So thank you
37:17
Speaker 2: so much for all your hard work and contribution to
37:19
Speaker 2: the country, and thank you for being here, thanks for
37:21
Speaker 2: having me. All right still to come. And by the way,
37:24
Speaker 2: how upsetting is that it's people like this who've given
37:27
Speaker 2: everything to the country who are going to be hit
37:29
Speaker 2: by this budget. All right still to come. Keir Starmer
37:33
Speaker 2: eases sanctions on Russian oil as he begs to keep
37:36
Speaker 2: his job. Will Cross live to London and Jim Chalmers
37:39
Speaker 2: says he's standing up for workers. But more than seven
37:42
Speaker 2: hundred and forty thousand workers could be hit by labors
37:45
Speaker 2: at capital gains tax changes. Adam Creighton is here after
37:48
Speaker 2: the break welcome back. More than seven hundred and forty
37:54
Speaker 2: thousand wage and salary owners could be hit by the
37:58
Speaker 2: Treasure's plan to acts the capitol gains to discount. Labor
38:01
Speaker 2: says this is about rewarding workers over investors. But the
38:05
Speaker 2: Australians analysis shows two thirds of people reporting capital gains
38:09
Speaker 2: are workers too, including teachers and paramedics who are trying
38:14
Speaker 2: to get ahead. And the IPA's chief economist Adam Crichton
38:18
Speaker 2: joins me, now, Adam, good to see you. Look labour
38:21
Speaker 2: seems hell bent on kind of pitting investors against workers here,
38:25
Speaker 2: but the analysis shows that everyday Australians mom and dads,
38:31
Speaker 2: middle income workers, workers and worker, middle income earners and
38:36
Speaker 2: workers will be hit.
38:39
Speaker 5: Yes, certainly that's true. It's not such a simple picture.
38:41
Speaker 17: Something like one point one million people made a capital
38:44
Speaker 17: gain in the latest financial year, and as you said,
38:47
Speaker 17: seven hundred and forty thousand of them they also had jobs.
38:49
Speaker 17: So this image of the nasty speculators on the one
38:52
Speaker 17: hand and the you know, the good workers on the
38:54
Speaker 17: other is extremely simple. And the you know, the poultry
38:58
Speaker 17: two hundred and fifty dollars offset that the government's going.
39:01
Speaker 5: To give workers could easily be.
39:03
Speaker 17: Offset by the high capital gains tax rate that many
39:05
Speaker 17: of them will be hit with and it's you know,
39:07
Speaker 17: it's worth pointing out too that there's some three point
39:09
Speaker 17: seven million people who are aged between eighteen and twenty
39:11
Speaker 17: nine and this budgets supposed to help them, but two
39:14
Speaker 17: million of those people they have incomes less than forty
39:17
Speaker 17: five thousand dollars a year. So they're getting a massive
39:19
Speaker 17: increase in their capital gains tax rate because it's going
39:22
Speaker 17: to have a minimum of thirty percent. So if they're
39:24
Speaker 17: doing any trading on the side, crypto shares, whatever, that's
39:27
Speaker 17: a huge hit to them. So this idea, it's you know,
39:29
Speaker 17: it's great for the youth, is just completely ridiculous.
39:32
Speaker 2: I mean, as an economist, Adam and you and I
39:36
Speaker 2: used to cover budgets together every single year in the
39:40
Speaker 2: budget lock up. I mean, is this the most absurd
39:44
Speaker 2: worst budget you've seen?
39:48
Speaker 17: Well, look, you know one of the budgets that we
39:49
Speaker 17: covered show would have been twenty nineteen and federal spending
39:52
Speaker 17: was four hundred and ninety billion dollars and now it's
39:54
Speaker 17: eight hundred and eighty billion dollars, right, So I mean
39:58
Speaker 17: that's that's the scary statistic. Mean, been completely out of control,
40:02
Speaker 17: and they can't control it, so they're just lifting taxes
40:04
Speaker 17: and taxes they're already high. You know, we have amongst
40:07
Speaker 17: the highest well certainly amongst the highest capital gains tax
40:10
Speaker 17: rates now in the world. If this is legislated and
40:13
Speaker 17: it's you know, it's they're coming for an economy that
40:16
Speaker 17: is already really struggling. I mean, per capita GDP growth
40:18
Speaker 17: has been shrinking for about three.
40:20
Speaker 5: Quarters of the last four years.
40:24
Speaker 17: That's very scary. You don't you don't lift taxes in
40:26
Speaker 17: that environment. So it's a reckless budget, I would say.
40:30
Speaker 2: So, I just want to pick you up on that.
40:31
Speaker 2: So you said, if these go through, this will be
40:34
Speaker 2: the highest or among the highest capital gains rates taxes
40:38
Speaker 2: in the world. We already know that personal income taxes
40:41
Speaker 2: are among the highest in the OECD. You compare the
40:45
Speaker 2: business environment in Australia to the United States, which you
40:49
Speaker 2: know President Trump has made such an effort at helping
40:52
Speaker 2: the business community. I mean, how do you compare the
40:56
Speaker 2: US from Australia right now?
40:58
Speaker 5: Well, the tax put in there so much lower.
41:00
Speaker 17: I mean, you know, if you're in high tax Washington, DC,
41:03
Speaker 17: for instance, your marginal rate on couple of gains in
41:06
Speaker 17: income something like thirty two percent. That's even if you're
41:08
Speaker 17: a high income earner, whereas, of course in Australia it's
41:11
Speaker 17: forty seven. And if you're in Florida or Texas where
41:13
Speaker 17: there's no state income tax, and you know it minds you,
41:15
Speaker 17: each of those states is about the same size as Australia,
41:18
Speaker 17: they're not insignificant. Your marginal rate's twenty four. So you know,
41:22
Speaker 17: you'd be moving to Florida or you'd be moving to
41:23
Speaker 17: Texas if you had a great idea in Australia, you
41:25
Speaker 17: wouldn't be staying here to set it up.
41:28
Speaker 2: It's amazing, isn't it. It's just, I mean, it's the
41:31
Speaker 2: wrong way to go about managing an economy. Adam. The
41:34
Speaker 2: housing market, it's already being hit hard in the first weekend.
41:39
Speaker 2: The clearance rates shows that. I mean, there's research from
41:42
Speaker 2: SQM Research that shows that only three in ten home
41:45
Speaker 2: sold at auction last week. This is the first weekend
41:47
Speaker 2: after the budget. Clearance rate crashed to thirty one point
41:51
Speaker 2: one percent the week is since the start of COVID,
41:54
Speaker 2: So it looks like this is going to lead to
41:56
Speaker 2: a serious calling off. That's to put it lowly of
42:00
Speaker 2: the markets.
42:01
Speaker 17: Yeah, yeah, look I think that's right. I mean, it
42:03
Speaker 17: could really trigger a collapse. To be frank and no
42:06
Speaker 17: wonder people aren't buying.
42:07
Speaker 5: You wouldn't You wouldn't.
42:08
Speaker 17: Buy now, you'd wait and see what this is all
42:10
Speaker 17: going to do. I mean, we've had this stable tax
42:12
Speaker 17: regime for about twenty seven years on the capital gains front,
42:15
Speaker 17: and the government's basically torn that up. So so if
42:18
Speaker 17: you were rational, you'd wait and see what this is
42:19
Speaker 17: going to do. You know, just look at Canada, which
42:22
Speaker 17: I think is our future. Actually, their house prices are
42:25
Speaker 17: down twenty percent in the last three years in all
42:27
Speaker 17: our major cities. It's a very similar economy to US.
42:30
Speaker 17: The reserve banks lifting rates and it's clear that. But
42:33
Speaker 17: in Sydney and Melbourne prices were they were already starting
42:35
Speaker 17: to fall even before the budget, so you know, this
42:39
Speaker 17: is just going to make that fall even worse. So
42:40
Speaker 17: you know, we talk about housing affordability. I mean, the
42:42
Speaker 17: problem in a year or two might be that houses
42:44
Speaker 17: are too cheap and the government is extremely worried about
42:47
Speaker 17: a crash in the housing market.
42:49
Speaker 2: I just want to finally ask you about bracket creep.
42:52
Speaker 2: Angus Taylor on Thursday night, in his budget reply, said
42:55
Speaker 2: he'd index the income tax the income tax thresholds with inflation. Now, Adam,
43:00
Speaker 2: this is something you personally have been arguing for for years.
43:05
Speaker 2: I mean, this has been your personal campaign.
43:06
Speaker 5: Well it's yeah, look it kind of has.
43:09
Speaker 17: We you know, we started with the one hundred and
43:11
Speaker 17: eighty thousand dollars threshold for the forty seven cent rate
43:13
Speaker 17: in two thousand and eight. You know, we're almost twenty
43:16
Speaker 17: years on and it's gone up ten thousand dollars to
43:18
Speaker 17: one hundred ninety thousand.
43:19
Speaker 5: So it's just outrageous what he said.
43:21
Speaker 17: If it hadn't been index to inflation, it'd be something
43:23
Speaker 17: like two hundred and eighty thousand dollars the top threshold now.
43:26
Speaker 17: And indeed, under the Stage three tax cuts, you remember
43:29
Speaker 17: that the Coalition legislated it was meant to go to
43:31
Speaker 17: two hundred thousand, and then the government changed it to
43:33
Speaker 17: one hundred and ninety. So it's just it's you know,
43:35
Speaker 17: really quite fraudulent there what the Treasure has said, it's
43:38
Speaker 17: not increased it at all.
43:39
Speaker 2: Sure, we haven't actually played those comments, but you're you're,
43:42
Speaker 2: of course the pot of Angus Taylor's move. Although I
43:47
Speaker 2: think it's too far into the future. It should be
43:49
Speaker 2: not in two stages, and it should be a bit earlier.
43:51
Speaker 2: I mean the last stage is twenty thirty are too
43:54
Speaker 2: far away?
43:55
Speaker 17: Yeah, all right, I would agree with that, but you know,
43:56
Speaker 17: full credit, it's a bold reform that should happen.
43:58
Speaker 2: Good idea, Adam, thank you so much. Thanks After the
44:02
Speaker 2: break or cross to London where less than two years
44:05
Speaker 2: after Labour's landslide Kirs Starmer is fighting for his political life.
44:09
Speaker 2: That's next, Well, less than two years after Labour's landslide
44:16
Speaker 2: win in the UK, Keir Starmer is already fighting for
44:19
Speaker 2: his political life and joining me now to discuss his
44:21
Speaker 2: Spiked online editor Tom Slater, Tom, nearly one hundred labor
44:25
Speaker 2: in Peace have called for him to go. Five ministers resigned,
44:29
Speaker 2: and Andy Burnham is the clear favorite.
44:33
Speaker 3: No, absolutely, Shery.
44:34
Speaker 18: I mean in the latest states from Betfair Exchange, it's
44:37
Speaker 18: a platform which allows people to kind a wager against
44:40
Speaker 18: one another on these political outcomes. Burnham is emerging as
44:42
Speaker 18: the clear favorite, as everyone already knew, he's on fifty
44:45
Speaker 18: eight percent. Angela Rayner, a former Deputy Prime minister, is
44:48
Speaker 18: the closest in second on sixteen percent, So you can
44:51
Speaker 18: see why kirstarm was so keen to keep Andy Burnham
44:53
Speaker 18: out of Parliament last time he attempted to make the jump.
44:56
Speaker 18: There is this by election coming up in Greater Manchester
44:58
Speaker 18: where Burnham is expected to stand as a Labor candidate,
45:02
Speaker 18: but even that's not sure fire win for Labour given
45:04
Speaker 18: what a terrible go the Prime Minister has made of
45:08
Speaker 18: governing this country. And as you say, just two years
45:10
Speaker 18: into his premiership, going from a landslide majority to the
45:13
Speaker 18: most disliked prime minister in recorded history is a story
45:17
Speaker 18: of Labor failure. I don't think we've seen for many generations.
45:21
Speaker 2: But he's just clinging on. He's refusing to go, he says,
45:24
Speaker 2: I mean the British need him in effect, So how
45:27
Speaker 2: long can he hang on for?
45:30
Speaker 11: Well?
45:30
Speaker 18: I think up until this point the only thing that
45:33
Speaker 18: Kirstarmer had going for him was the weakness of his opponents,
45:36
Speaker 18: or the fact that Andy Burnham, the mayor of Greater Manchester,
45:39
Speaker 18: wasn't in Westminster, wasn't able to stand. Those obstacles have
45:42
Speaker 18: now been removed and you've got Kirstarmer running around saying
45:46
Speaker 18: that he is the person the country needs Meanwhile, the
45:48
Speaker 18: country would rather almost anyone else rather than him. So
45:51
Speaker 18: I think really we are entering the final days. It's
45:54
Speaker 18: just a question of when rather than if.
45:57
Speaker 2: Tom, What can you tell us about Andy Burnham? We
45:59
Speaker 2: basically know nothing here in Australia. Would he be a
46:02
Speaker 2: better option than Keir Starmer?
46:05
Speaker 18: I mean only in the sense that, unlike Keirs Starmery's
46:07
Speaker 18: man who appears to have a pulse, he speaks human,
46:10
Speaker 18: as we say, unlike the very rigid, robotic communicator we
46:13
Speaker 18: have in number ten at the moment. But Andy Burnham
46:16
Speaker 18: is a political shape shifter. He was in the Gordon
46:20
Speaker 18: Brown and Tony Blair governments. He serves as Health Secretary,
46:23
Speaker 18: voted for the Iraq War, presided over NHS marketization, but
46:26
Speaker 18: it's now sort of remade himself as more of a
46:29
Speaker 18: sort of left wing progressive. So he's very much an
46:32
Speaker 18: empty suit. But I think that almost anyone looks preferable
46:36
Speaker 18: to the current occupant of Number ten Downing Street, not
46:38
Speaker 18: just to labor members, but to much of the country
46:40
Speaker 18: as well.
46:41
Speaker 2: Yeah, that's for sure. All right, let's turn to Trump
46:42
Speaker 2: and Irun. I mean this is an on again, off
46:45
Speaker 2: again the wars on it's off. Donald Trump now insists
46:48
Speaker 2: that Tehran badly wants a deal. Here is.
46:52
Speaker 14: We're going to end that war very quickly. They want
46:55
Speaker 14: to make a deal so badly. They're tired of This
46:58
Speaker 14: should have happened for forty seven years. Somebody should have
47:01
Speaker 14: done something about it. And it's going to happen, and
47:04
Speaker 14: it's going to happen fast, and you're going to see
47:07
Speaker 14: oil prices plummet.
47:08
Speaker 5: They're going to come down.
47:09
Speaker 14: There's so much oil out there, they're going to come
47:11
Speaker 14: plummeting down.
47:13
Speaker 2: Look, he really doesn't want to return to military action,
47:15
Speaker 2: but it looks like you might have to.
47:18
Speaker 18: No, absolutely, and I think it comes down to the
47:20
Speaker 18: fact that he's started something that maybe he can't finish.
47:23
Speaker 3: This is the problems with wars.
47:25
Speaker 18: Whilst you might want to dictate the terms throughout, there
47:28
Speaker 18: is another party that is involved here. And I think
47:31
Speaker 18: what we're seeing now is a recognition that things really
47:34
Speaker 18: can't go on as they are. But at the same time,
47:37
Speaker 18: how difficult it is to extricate yourself from these conflicts,
47:40
Speaker 18: as America has found two it's discredit many times over
47:44
Speaker 18: the decades. So we'll see what happens. But as ever,
47:47
Speaker 18: there's such an enormous gap between what's being said from
47:50
Speaker 18: the White House and what is being communicated up by
47:52
Speaker 18: the IRGC, so everything remains in the balance.
47:55
Speaker 2: It seems like, I mean, the issue here with the
47:59
Speaker 2: Arab golfes really they kind of begg Trump not to
48:03
Speaker 2: return to military action, when Trump says, if you believe him,
48:07
Speaker 2: and why not. He was about an hour away from
48:10
Speaker 2: ordering military action on Iran once again. But meantime, the
48:14
Speaker 2: Strait of Hormuz is effectively close. Something has to give,
48:17
Speaker 2: and Iran doesn't seem like it's gonna I mean, it
48:20
Speaker 2: seems to bewithstanding the blockade. We keep saying, it's not
48:22
Speaker 2: going to be able to survive it. Tom thanks for
48:25
Speaker 2: joining us, appreciate it all right, I'll see you tomorrow
48:29
Speaker 2: night at eight o'clock. I've got Paul Kelly, who's gonna
48:32
Speaker 2: really get stuck into a strong analysis of the federal budget.
48:36
Speaker 2: His column was great today. Right now, Paul Murray